Coin trading has become increasingly popular on eToro recently as investors look for new ways to diversify their portfolios. Not only is it possible to trade coins on eToro, but you can also transfer them to other wallets and exchanges. However, it's not as simple as transferring fiat currency, and there are a few things you need to know before you start. If you have coins in your eToro account you want to transfer, you have come to the right place. In this article, we will explain how to transfer coins on eToro.
The first step is to convert your coins into cash. You can do this by opening a sell order in the coin's trading pair. For example, if you want to sell Bitcoin (BTC), you would open a BTC/USD sell order. Once the platform fills your order, the cash is credited to your account.
Then, you can withdraw them from your eToro account. To do this:
Go to the ‘Portfolio' page and click on the ‘Withdraw Funds' button. From there, you can choose how much you want to withdraw and which payment method you would like to use. Please note that withdrawal fees may be associated with your chosen payment method. You can learn about the fees by contacting customer service.
The second step is to find a wallet or exchange that supports the coin you want to transfer. If you are transferring Bitcoin (BTC), many wallets and exchanges support BTC. However, if you are transferring a less popular coin, you may have to search harder to find a suitable wallet or exchange. Once you have found a wallet or exchange that supports the coin you want to transfer, you can create an account and deposit your coins.
Once you have deposited your coins into your account on the wallet or exchange, you can send them to any other wallet or exchange. All you will need is the wallet address or exchange you want to send your coins to. You can do this by copying and pasting the address or by scanning the QR code. Once you have entered the address, put in the number of coins you want to send and confirm the transaction.
The final step is to withdraw your coins from the wallet or exchange. Go to the ‘Withdraw' page on the website or app. You will need to enter the number of coins you want to withdraw and your wallet address. Once you have entered this information and confirmed the transaction, your coins will be sent to your wallet.
However, not all wallets and exchanges allow withdrawals. If this is the case, you will need to find another wallet or exchange that does allow withdrawals. You can also call customer service before initiating a transfer to make sure it is possible.
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