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eToro rolled out its proprietary crypto wallet in 2018. Many people switched to using this product almost immediately due its affiliation with eToro, one of the most reputable trading and investment companies today.
If you are interested in the eToro crypto wallet UK, read our review before getting it. We evaluated and tested this product with the sole aim of providing the information you need to make a wise decision. Our team also factored in reviews on Google Play, the App Store, and Trustpilot while analysing this wallet’s reliability and performance.
In This Guide
Our Opinion About eToro Wallet
Backed by one of the most popular brokers today, the eToro wallet is undoubtedly a reliable and trustworthy solution. But should you use it? Well, use the lists of eToro wallet pros and cons below to make a sound decision.
eToro Wallet
✔Super-intuitive interface
✔Supports a wide variety of assets
Pros & Cons
Pros
- It’s provided by eToro, which is a popular, multi-regulated company
- Has a super-intuitive, simple interface that makes it easy to use
- Charges zero fees for storing, receiving, and sending crypto
- Supports a wide variety of assets, including popular cryptos like BTC and ETH
- It’s centralised and integrates seamlessly with the eToro investment platform
Cons
- Lacks advanced features like trading and staking
- Only for Android and IOS mobile users
Supported Cryptos
The eToro crypto wallet allows users to receive, transfer, store, buy, and sell diverse digital currencies, including:
- Bitcoin
- Dash
- Ethereum
- Dogecoin
- Cardano
- Ripple
- Litecoin
- Tron
- Stellar
- Polkadot
Security
You shouldn’t doubt eToro wallet’s security standards for various reasons. First, this product is owned and operated by eToro, an infamous broker that’s licensed and regulated by numerous authorities, including the FCA, CySEC, and ASIC. So, rest assured that the eToro wallet is legit and trustworthy.
That aside, the eToro crypto wallet uses analytic behavioural machine learning to monitor user behaviour patterns and identify discrepancies that may signal issues like unauthorised access. It also uses advanced mechanisms to assess the authenticity and integrity of digital signatures. These two components play an indispensable role in augmenting the security and safety of this crypto wallet.
Furthermore, this digital wallet comes with a private key. No one can access your assets without it. eToro protects your private key with top-class security technologies. In addition, this company never shares its customers’ wallet addresses with third parties.
Fees and Limits for UK Traders
The eToro crypto wallet is free to acquire and set up. So, don’t worry about covering upfront costs. Additionally, receiving and transferring crypto from your eToro money crypto wallet won’t cost you a dime; these services are free. The only charges you may incur are related to blockchain fees, which get paid to the network miners who confirm and validate your transactions.
eToro allows its users to send crypto worth £50,000 per transaction. Additionally, this crypto wallet has a capped daily maximum transaction limit of £200,000.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Privacy and Anonymity
Before using the eToro Money crypto wallet, you must have a fully verified eToro account. Creating and verifying an eToro account requires you to provide personal information like your full name and address as well as verification documentation like a copy of your national ID. That said, eToro prioritises your privacy and never shares client information except in extenuating circumstances.
Additionally, eToro optimises your privacy by protecting your information with industry-leading data encryption technologies and robust tools like firewalls. And, although the eToro crypto wallet UK requires new users to be verified, it also supports pseudonymous transactions, which guarantee a reasonable degree of anonymity.
eToro Wallet Support Service
If you need to know anything else regarding the eToro crypto wallet, go to eToro’s Help Center page and browse through the articles published here. There are countless pieces that focus exclusively on the eToro Money crypto wallet. These cover indispensable topics, ranging from the intricacies of this digital product to the basics of transferring crypto assets.
You may not find what you seek in the published articles. If that happens, contact eToro’s team, which is available 24/5. You can chat with a live representative or open a ticket and wait for a representative to get in touch with you. We highly recommend live chat for urgent matters since it guarantees swift responses and effective issue resolution.
eToro doesn’t have phone support. So, if you come across an “official” eToro phone number, don’t call it since it’s likely affiliated with fraudsters and scammers.
How to Start With eToro Wallet
We will guide you through the eToro wallet setup process from A to Z. Don’t let it intimidate you; it’s manageable and hassle-free. We did it without breaking a sweat. You just need to follow these general steps:
Step 1: Visit eToro
Step 2: Sign up
Step 3: Set up your wallet
Step 4: Load your wallet
If you have used eToro before, we encourage you to visit the company’s official site and explore. Check everything the company offers, from trading and investment options to mandated fees. Also, try to find an asset besides crypto that you can diversify your portfolio with, like real stocks and ETFs.
The official website of eToro also has an education page, which is home to the eToro Academy. If you are new to trading and investing, please start your journey there. The countless courses and learning materials on the eToro Academy website will help you unlock your full potential.
You can’t use the eToro crypto wallet without being a verified eToro user. So, before going any further, you must register with eToro. Click the “Sign Up” button and complete the registration form. Remember to use accurate details because you’ll have to submit verification documents after filling out the form. eToro’s team will use the documents to verify your application.
The personal information that eToro will ask for includes your name, address, and phone number. To verify your account, you must share a POI document like your driver’s license or national ID and a POA document like a recent bank or credit card statement.
Once your eToro has been verified, visit the official page, click “Trading” in the top right corner and select “eToro Money” from the drop-down menu. Download and install the eToro Money app. Then, log in and navigate to the “Wallet” section. The eToro Money app has an embedded crypto wallet, so getting started should be a breeze.
Remember to optimise the security of your eToro wallet by enabling 2FA on the eToro Money app.
You can send crypto from an external source to your eToro crypto wallet. Just visit your wallet, click the “Crypto icon,” select your preferred asset, and hit “Receive.” Use your public addresses to complete the transaction.
Alternatively, you can buy crypto assets using the eToro investment platform and transfer them into your eToro Money crypto wallet. Note that 2% of the assets you transfer will be used to cover eToro’s coin transfer fee. The minimum and maximum transfer fee you can pay at any given period is £1 (in units) and £100 (in units), respectively.
Final Thoughts
Our eToro wallet review UK has introduced you to crucial information regarding the eToro crypto wallet. You should have a rough idea of what this product offers at this point. But don’t stop here. Dig some more and learn as much as possible about this wallet before entrusting it with your crypto assets. If you have friends who are crypto enthusiasts, seek their opinions too.
InvestingGuide Rating:
✔Super-intuitive interface
✔Supports a wide variety of assets
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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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