Users can now transfer their crypto to eToro
eToro, the trading and investing platform, announced today that users in the UK and Europe can now transfer cryptoassets held with other exchanges, brokers, or in other blockchain wallets to the eToro Crypto Wallet, where they can convert their holdings to cash, in order to trade and invest across multiple asset classes on eToro’s investment platform.
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“We’ve seen a new generation of people get into investing through crypto. As they mature as investors and look for ways to use their cryptoassets for trading and investing, eToro is well-equipped as a multi-asset platform to help them put their crypto to work, explore new investment opportunities and build diversified portfolios,” said Doron Rosenblum, EVP, Business Solutions at eToro.
“With many cryptoassets reaching new all time highs but also experiencing strong volatility, the launch of crypto-to-fiat conversions on eToro means investors can use us as an ‘off-ramp’ to harness their gains and diversify into other asset classes through our multi-asset platform.”
Eligible eToro users holding Bitcoin (BTC) or Ethereum (ETH) on external wallets or exchanges can transfer these cryptoassets to their eToro Crypto Wallet and convert them to their local currency within their GBP or EUR account. This can then be easily reinvested into any of the instruments available on eToro’s platform, be withdrawn as cash, or spent via their GBP or EUR account, or eToro debit card (for UK users).
This feature will be rolled out gradually to members of the eToro Club, starting with Diamond Club members in the UK and Europe. Conversion fees range from 0.6% to 1%. Terms apply.