With its recent transition from a Proof-of-Work consensus mechanism to Proof-of-Stake, Ethereum aims to improve the efficiency of the network. It is often considered a blue-chip crypto investment with potential gains in the future. Here, we will walk you through the process to buy Ethereum on eToro. 

eToro is an exchange platform that makes the process of registering and buying assets simple within a few steps. Instead of getting stuck on a hard-to-navigate platform, you can easily buy Ethereum on eToro. Let us dive into the process of buying Ethereum on the eToro platform. 

How to Buy Ethereum on eToro ? 

Step 1 – Register and Create an account

To buy Ethereum on eToro, it is necessary to register and create an account first. eToro makes the whole process of registration and creating an account easy and convenient for its users. First, you need to go to the eToro official website and then click on the “Join Now” button to create an account. 

You need to enter some basic details like your name, email address and create a strong password. Once you ensure that all your details are correct, confirm and create the account. 

Step 2 – Login and Verify your Identity

After registering, you can now use the same username and password to log in to your eToro account. Now, you need to verify your account by verifying your email address or by using text messaging. 

It is also important to verify your identity using your identity card and address proofs like utility bills and bank statements. Verifying your identity is a non-negotiable process to comply with KYC and AML guidelines. Moreover, you cannot trade assets without verifying your identity on eToro. 

Step 3 – Add Money to Your eToro Account 

As part of the next step, you need to deposit money into your eToro account. The eToro platform sports different kinds of payment methods. They include bank transfers, online payments, and card payments.

You need to select the “Deposit funds” option and then select the payment method through which you would like to transfer money. After that, you need to enter payment details like bank account number, name, etc along with the deposit amount. Enter all the details and confirm the transaction to add money to your account. 

Step 4 – Search the Watch list for Ethereum 

Next, you need to go to the “Watchlist” section on the dashboard of your eToro account. In that, search for Ethereum in the search bar. You can find it easily as it is one of the most popular and second-largest cryptocurrencies by market capitalization. 

Now, when you select Ethereum, you can find a separate page. It shows all the information like market performance, historical details, and other information related to Ethereum. Select the “Buy” option and enter the details to buy Ethereum on eToro. 

Step 5 – Enter Payment Details and Buy Ethereum on eToro 

In the next step, you need to enter purchase details like how much money you wish to spend on Ethereum. Or, you can also select how many Ether coins you would like to buy. After entering these details, choose the “Open trade” option to continue buying Ethereum. 

Before that make sure all the details are correct and you have verified your identity on the platform. Confirm the trade to buy Ethereum on eToro and you will receive it into your account. You can go to the “portfolio” section to see the Ethereum you’ve bought on the platform. 

Conclusion

Ethereum is undergoing many developments to improve the performance and efficiency of the network. The recent event Merge was one of the developments that turned the network from PoW to PoS. As a result, it aims to provide a better user experience and lower transaction fees. 

Investing in Ethereum is a good option to benefit from the growth and future potential of the network. You can follow the above-explained guide to buy Ethereum on eToro and improve the chances of gaining returns in the next bull run!

FAQs

Should I buy Ethereum in 2023?

In the current market conditions are uncertain. And, we cannot say if Ethereum can witness a considerable price surge soon. However, you can buy Ether at a discounted price of less than $2,000 as of June 2023. This way, you can benefit when the price surges in the next bull market. 

Is Ethereum a good long-term investment?

Yes, Ethereum is a good long-term investment. It is placed second in the list of cryptocurrencies arranged by market capitalization. It is also one of the first blockchain networks that introduced decentralized applications. With the recent transition from PoW to PoS, Ethereum aims to further improve the network’s performance.

How to buy Ethereum in India?

You can buy Ethereum in India on native crypto exchanges like CoinDCX, WazirX, CoinSwitch, etc. However, you need to research and understand the platform, its features, fee structure, and security measures before using it.