Yes, you can withdraw your Dogecoin from eToro, but not directly as Dogecoin. First, you need to close any open DOGE positions, which converts them into fiat currency. This amount is then added to your 'Cash Available' balance, from which you can proceed to withdraw the funds.
In my journey with eToro, I encountered a situation where I wanted to withdraw the Dogecoin (DOGE) I had bought months earlier. Initially, I assumed it would be a straightforward process, similar to withdrawing other assets. However, I quickly realized that withdrawing this memecoin required a different approach, one that wasn't overly complex but certainly unique.
The first thing I learned was that it's currently not possible to transfer eToro Dogecoin positions directly from the trading platform to the eToro Money crypto wallet, as the wallet does not support Dogecoin. This meant I had to find an alternative method to access my funds.
The process I followed was relatively simple:
This experience highlighted the importance of understanding the specific withdrawal procedures for different assets (particularly crypto) on trading platforms like eToro. While it may not be a direct crypto transfer, the method I used was efficient and allowed me to successfully cash out my Dogecoin investment.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
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Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
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