How To Transfer Crypto (BTC, ETH, ADA etc) From Coinbase to eToro?

März 6, 2023

What you'll learn 👉

IMPORTANT WARNINGS

Trying to deposit a non-supported token may result in the loss of tokens.
Send a small test amount first
Beware when choosing the network which you want to use for sending crypto

How to Withdraw Cryptocurrency on Coinbase

Coinbase and eToro are two of the biggest trading platforms in the world. Coinbase is narrowly specialized for cryptocurrency while eToro is a multi-asset broker that is heavily focused on crypto as well. Today we are going to look at how to transfer our crypto from Coinbase to eToro.

Check our direct comparison of Coinbase and eToro.

First, we log into our Coinbase account, here we will get to see our dashboard and what we have. You could find anything related to your Coinbase account from this page. From trading to payments to notifications and such, including buying crypto directly with fiat, or send/receive crypto in and out of Coinbase.

When you see this page, click on the “send/receive” button at the top right corner. This will pop up another tab that will start our progress of transferring from Coinbase to eToro.

When you see it pop up, click on the “send” button and you will be redirected to basically what is called the “withdraw” anywhere else. It is the same thing, just named differently.

You will have to pick which coin you want to send. You could do this at the “assets” part if you want to, or you could simply pick from this list. There is also a search function to help you navigate as well.

When you click on send and pick which coin you want to send, it will ask you for an address to send. Before we could continue with the Coinbase part, we need to move to eToro and get the deposit address from there.

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AAAND Then we hit a rock!

What rock? What are you talking about? Well, you can’t really deposit crypto from other exchanges into eToro. You can only buy it for fiat on their platform. Read on to learn how that actually works.

Overview

eToro is an Israeli-based exchange. They do not work just in the crypto world but also work with stock markets and forex at the same time. Which makes them a full-on brokerage firm. This means you could buy Bitcoin, apple stock, and fiat at the same place anytime you want. They have licenses to work within Israel, Cyprus, UK, USA, and Australia. They are banned in Canada mainly but also in other nations that require licensing for this business purpose.

As a company that works within the regulations of the countries they exist, they have to follow certain rules. You will be asked to provide KYC the moment you are signing up. They do not offer small transactions without KYC like some other exchanges. eToro works differently from the common crypto exchanges we all know.

You are capable of buying Bitcoin and a few other coins using your bank card, or wire transfer if you want to, they accept SWIFT transactions as well. You could buy Bitcoin using your debit card and withdraw the coins you buy from eToro as well. As you can see they are just like any other exchange you can see when it comes to crypto up to this point.

Their difference comes from the fact that you can’t deposit cryptocurrency into their platform. So if you buy bitcoin from Coinbase, and want to move it to eToro and start trading your Bitcoin there, you can’t do it. Vice versa is allowed, buy bitcoin at eToro and send it to Coinbase and trade there, but unfortunately, they do not accept crypto deposits. You can only buy from their system, and trade on it but the withdrawal is one-sided and can’t be reversed.

This makes their exchange a bit problematic for many users. As crypto users like to move their money around freely and without limitation, having a limitation like this placed in eToro makes it harder for them to reach a good volume. Even though they are in many nations, and can accept fiat payments in so many different countries, with licenses around the world to make them legal, they barely crack into the top 50 for crypto volume.

However, eToro also provides forex and stock market trading, and the volume they have on those two makes up for the lack of trading volume in crypto. This is why they do not present themselves as just a crypto trading platform, but a general brokerage instead. If you want to trade crypto only and nothing else, they are certainly not the place to be, but if you want to trade many different things all at once, including crypto, then they are one of the best at what they do.

Visit eToro Now

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

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

Conclusion

eToro found a path for themselves that is unique compared to other crypto exchanges. They lack one of the most important parts, which is depositing crypto and this downgrades their rate a lot. Instead, they are taking another route that shows how crypto exchanges could combine themselves with traditional markets if they want to, and find success in them as well.