Overview of Crypto Asset Transfers
eToro users who hold certain supported crypto assets on the eToro investment platform have the option to close these positions and transfer the cryptocurrency to their eToro Money crypto wallet. This process enables you to take direct ownership of your digital assets.
The platform also permits users to transfer cryptocurrencies from external sources into their eToro Money wallet. Once the assets are in the wallet, eligible eToro Club members can sell Bitcoin and Ethereum, with the proceeds credited directly to their GBP or EUR account.
eToro employs a dynamic fee model for transferring crypto from the investment platform to the eToro Money wallet. The cost is based on the size of the position, providing flexibility. It's important to note that larger transfers benefit from a fee cap:
- The token transfer fee is 2% of the transaction size.
- The minimum fee is $1 (charged in the crypto unit being transferred).
- The maximum fee is $100 (charged in the crypto unit being transferred).
The final fee amount is determined at the time your transfer request is processed.
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Important Transfer Notes
- On the trading platform, a wallet is only created as part of the token conversion process.
- Crypto transfer fees are deducted in the unit of the cryptocurrency being moved.
- The transfer of certain crypto assets, marked with an asterisk, is not supported for users under ASIC and ASIC GAML regulations.
- When transferring 1 SHIBxM from eToro, you will see 1,000,000 SHIBA in your eToro Money wallet.
- In addition to eToro's fee, a blockchain network fee will also apply. As blockchain conditions are variable, only an estimated network fee can be provided before you confirm the transfer.
- All fees are deducted from the balance of the asset you are transferring. For instance, to transfer Bitcoin, you must have enough Bitcoin in your balance to cover the fee.
- Users under FSRA regulation cannot transfer ERC20 tokens.
Eligibility and Supported Regions
Cryptocurrency transfers are not supported in all countries. The service is available to clients of eToro (Europe) Ltd, eToro (UK) Ltd, eToro (Seychelles) Ltd, and to Australian residents who are clients of eToro AUS Capital Limited.
To check which entity regulates your specific account, you should consult the regulatory information provided in your account settings.
Step-by-Step Transfer Guide
You can transfer supported crypto assets from the eToro trading platform to an external wallet using the eToro Money mobile app, available for iOS and Android devices. You use the same username and password for the eToro Money app as you do for your main trading account.
Once you have installed and logged into the eToro Money app, if you are eligible, you will see the option to transfer crypto positions to your wallet within the eToro trading platform.
The crypto transfer process is currently one-way. Any cryptocurrency moved from the eToro platform to your wallet cannot be transferred back.
Follow these steps to initiate a transfer on either desktop or mobile:
- In the eToro trading platform, navigate to your Portfolio tab.
- Click on the cryptocurrency you wish to transfer.
- You will see all open trades for that asset. Click on the specific trade you want to transfer.
- On the edit trade screen, click “Transfer to Wallet”.
- Review the transfer details carefully. Click “Transfer” to initiate the process.
- You will receive a notification confirming your request has been submitted. The trade line will show a “Pending Transfer” status. You can choose to cancel your request until the transfer is finalized.
Critical Instructions for a Successful Transfer
- During processing, your position remains open and is still subject to being closed by a Stop Loss or Take Profit order. To prevent this, you can adjust or remove any Stop Loss or Take Profit instructions to ensure your transfer request remains valid.
- As part of the transfer, the trade will eventually be closed. Its full value will temporarily move to your available balance until eToro executes the block chain transfer. Using these funds before the transfer is fully processed will cause the request to fail.
- You must have a phone with SMS verification capabilities to use the wallet. The eToro Money app requires two-factor authentication (2FA).
- You must initiate a transfer for each individual trade you wish to move. You cannot transfer all trades of a single asset in one action.
Frequently Asked Questions
What does transferring crypto to an eToro Money wallet mean?
Transferring cryptocurrency from your eToro portfolio to your crypto wallet is the process of moving the asset off the trading platform and into your own custody. To do this, you open the edit trade window for a position in your portfolio. Eligible users will find the "Transfer to Wallet" option under "Invested" instruments. Once the transaction is complete, the position is closed.
What are the rules for transferring crypto to my wallet?
Transfer eligibility depends on your country of residence and the regulations governing your account. Only long positions backed by real cryptocurrency, not CFDs, can be transferred. Assets held within CopyTrader or Smart Portfolio trades are not eligible for transfer to the wallet.
What are the transfer amount limits?
You can transfer any amount to your crypto wallet. However, if you are a new eToro user, your remaining equity (total equity minus the transfer amount) must be equal to or greater than the total amount deposited using one or more of the payment methods listed below.
This limit applies for a specific number of days from the date of your first deposit, depending on your payment method and eToro Club level. For example, bank transfers have a 0-day waiting period, while credit/debit card deposits have a 60-day waiting period for most users. This ensures deposited funds have cleared before the asset they purchased can be withdrawn.
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Which crypto assets can I transfer?
You can transfer Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), Tron (TRX), and Ripple (XRP) to your eToro Money crypto wallet. eToro may add support for other tokens in the future, and the list will be updated accordingly.
How long does a crypto transfer take?
eToro may take up to five business days to process a transfer request. In some cases, additional documentation may be required, which can extend the timeline. Once the request is processed, the time it takes for the crypto to appear in your wallet depends on blockchain network congestion, which is outside of eToro's control. Note that requests are not processed on weekends or national holidays.
Why can't I transfer crypto back to the eToro platform?
The transfer functionality is currently designed to be one-way (from the platform to the wallet). If this changes in the future, eToro will communicate the new option to its users.
Can I transfer part of a trade?
At this stage, partial transfers of a crypto position are not supported. A position must be transferred in its entirety or not at all.