eToro Wallet Review
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4.5/5

eToro Wallet Review November 2024

✔Unlosable private key
✔High-level security features
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Risk Warning
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
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Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. Get ready to learn from his wealth of knowledge.

Article was updated: November 6, 2024
Estimated reading time: 6 minutes

eToro’s easy-to-use, multi-crypto, secure eToro Money crypto wallet

Pros
  • Multiple cryptocurrencies supported
  • User-friendly platform that newbies will find easy to navigate
  • Unlosable private key for recovering your crypto wallet
  • Compatible with Android and iOS mobile devices
Cons
  • Not supported on desktop devices
  • Only users with investment accounts on eToro can use the wallet

Many traders know eToro as one of the best cryptocurrency exchanges due to its excellent features. However, did you know that the broker hosts an inbuilt wallet that is user-friendly and compatible with multiple digital currencies? 

Our review below gives you an in-depth understanding of the eToro wallet by taking you through its fees, compatibility with mobile devices, and more. In the end, you should be fully familiar with the wallet and effectively set it up for your investment activities.

eToro Wallet 1
eToro Wallet 2
eToro Wallet 3
eToro Wallet 4
eToro Wallet 5
eToro Wallet 1
eToro Wallet 2
eToro Wallet 3
eToro Wallet 4
eToro Wallet 5

Overview

eToro wallet is available to users free of charge. The wallet is user-friendly, and any cryptocurrency trader can use it to buy, store, receive, transfer, and convert crypto assets using a private on-chain address. With eToro wallet, it is easier for traders to change crypto pairs to assets without the need to transfer the assets to another platform. You can access eToro wallet on Google Play or the App Store and set it up free of charge. 

Note that eToro wallet is connected to a world-renowned trading platform that offers a wide range of cryptocurrencies and a social platform for skills development. The wallet works in synchronisation with a trading account, meaning you must have an account with the eToro brokerage to access this wallet.

eToro wallet overview

eToro wallet supports a wide range of crypto assets, including Bitcoin, Ethereum, Litecoin, and ERC20 coins. Additionally, the wallet is safe since it is highly reputable and encrypted. You will also have access to unlosable private keys for recovering your crypto wallet access if need be. 

Compare eToro with Other Wallets

Compare with other wallet
General Rating
Wallet Type
Price
Fees
Supported Coins
Hardware Wallet Supported
Customer Service
etoro wallet logo
Visit site
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
3.4rating-star
Hot/Cold
Free
Yes
120+
Yes
Live chat, Email
coinbase wallet logo
Visit site
Risk Warning
Coinbase will NEVER ask you for your Private Keys or Recovery Phrase. Do not share these with any person or site, or you could lose access to your wallet, or have your digital assets moved out of your wallet by an attacker.
Read Review
4.4rating-star
self-custody wallet
Free
1% on all swaps
BTC, BCH, LTC, ETH, ETC, XRP, XLM, DOGE, and all ERC-20 tokens
Yes
via Phone, Email, and Twitter
Exodus logo
Visit site
Risk Warning
One of the biggest threats in crypto is getting tricked into giving your private keys or 12-word secret recovery phrase to a scammer.
Read Review
4.1rating-star
self-custody crypto wallet
Free
does not charge fees for sending
more that 260 cryptocurrency
Yes
Chat, Twitter, Facebook, Email, Zoom

Supported Assets

eToro has an evergrowing list of supported cryptocurrencies that exceeds 120. Some of the popular assets to transact on this wallet include:

For investors wondering about the supported ERC-20 tokens, note that eToro doesn’t currently support the opening of ERC-20 wallets. The tokens are only available for users who already have such wallets. Overall, it is best to confirm the availability of your preferred crypto asset before using this crypto wallet

brokerage fees

Fees

eToro wallet is accessible via Android and iOS mobile devices free of charge. You will also enjoy sending and receiving cryptocurrencies for free, but you will pay blockchain fees depending on the cryptocurrency network you use to send crypto assets. Additionally, expect to pay fees when converting your preferred fiat to cryptocurrencies.

To ensure maximum safety in your wallet, eToro has set limits for currency conversion. UK investors have an applicable minimum and maximum transaction limits of £56 and £234, respectively. Daily transactions are capped at £200, and a monthly limit of £23,435 also applies.

Note that you may incur additional charges to your bank or card issuer, so it is best to confirm with them and ensure you can afford it. 

brokerage security

Security

eToro hosts one of the safest wallets. Besides verifying your information while setting it up, you will access it using your private credentials, including username, passcodes, two-factor authentication, and face ID. Moreover, eToro is backed up by DDoS protection and standardisation protocols to prevent unauthorised access. 

We also consider eToro safe because it is highly reputable globally and has gained plenty of excellent reviews on Google Play and the App Store. Besides, the wallet has no history of getting hacked. 

trading anonymity

Privacy and Anonymity

eToro is a hot/software wallet that secures your assets online. To guarantee maximum safety, the wallet only provides unlosable private key service to help you recover your wallet in case you forget your password. Additionally, you will have a private on-chain address for securely sending, receiving, and storing your cryptocurrencies within its blockchain.

broker customer support

Customer Support

eToro wallet has a responsive support service that provides relevant solutions to investors’ arising issues. The service is available via email, phone, and live chat five days a week. There is also a small FAQ section for quick answers to commonly asked questions. 

How to Start With eToro Wallet*

BEWARE OF SCAMS

When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature. This can result in swift and substantial price fluctuations. To safeguard your crypto holdings, it is imperative to utilise reputable wallets and exchanges, prioritising the security of your investments.

Also, exercise vigilance and due diligence to guard against crypto-related scams and fraudulent schemes that can potentially threaten your financial well-being. You can also spread your investments across multiple digital tokens and avoid making decisions based on emotions.

The procedure for setting up an eToro wallet is straightforward. Here are the steps to follow.

  1. Download the wallet from Google Play or the App Store and register for an account. If you have a trading account with the trading platform, use your credentials to log in. 
  2. You will be required to share your personal details, including your name, email, phone number, and date of birth. Investors must also create a username and password for maximum security.
  3. eToro will require you to verify your identity, phone number, and location to have your wallet fully activated. 
  4. Once your account is fully activated, you should be able to transfer and receive cryptocurrencies from eToro and other preferred trading platforms.

*Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

Editor’s Note

One thing that stands out about eToro wallet is its highly encrypted platform that prevents unauthorised access. By taking measures to ensure no one has access to your data and assets, we highly recommend the wallet to all cryptocurrency investors. Simply ensure it supports your preferred asset and fits your budget. 

On the flip side, only investors with accounts on its decentralised exchange can access the wallet. We hope to see eToro improving on this feature and allow users investing using external exchanges to benefit from it. All in all, eToro is a user-friendly wallet supported by one of the highly rated exchanges and CFD trading platforms globally.

Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

FAQs

Is eToro wallet safe?

Yes. eToro wallet is one of the safest since it secures investors’ assets using unlosable private keys and on-chain addresses.

What does eToro wallet do?

eToro wallet helps investors safely store their cryptocurrencies. With this wallet, it is easier for you to buy, sell, and transfer your crypto assets across blockchain networks. eToro wallet supports hot/software storage that is highly secured to prevent unauthorised access.

How do I transfer money from my eToro wallet to my bank account?

Not that most financial institutions like banks do not accept cryptocurrencies. Therefore, you must first convert your crypto assets into GBP currency to withdraw your earnings.

Can I use eToro wallet in other countries?

Besides the UK, you can use eToro wallet in any other country globally where the broker is licensed and regulated. Therefore, ensure you confirm the availability of eToro in a country you want to use it in before getting started.

Thadeus Geodfrey logo
Thadeus Geodfrey

Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.

His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.

TradingGuides Rating:
✔Unlosable private key
✔High-level security features
Go to Wallet
Risk Warning
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
5.0
Customer support
5.0
Commissions & Fees
4.0
Platform & Tools
4.0
Research
4.5 Overall Rating

11 Replies to “eToro Wallet Review”

  • Mirel Palada says:

    Perfect client experience with eToro and their client relations executives. Whenever I've needed to talk with them, they've been available and helpful, providing answers and solutions, as well as a genuine human interaction. Good interface as well, with plenty of valuable details.

  • Mirel Palada says:

    Perfect client experience with eToro and their client relations executives. Whenever I've needed to talk with them, they've been available and helpful, providing answers and solutions, as well as a genuine human interaction. Good interface as well, with plenty of valuable details.

  • Thomas Enc says:

    Satisfied with this app. A very simple wallet for beginners. The withdrawal of eth was waiting for a long time, but everything is fine, so I'm glad)

  • Paul says:

    Satisfied with this app. This is a simple wallet for beginners. The withdrawal took some time, but everything is fine, so I am glad)

  • James K says:

    In my opinion, eToro was built for a great customer experience first and foremost. Awesome platform, never had any downtime, good ancillary products such as a credit card and money account.

  • Alberte Holt says:

    I have been using the services of this wallet for about a year and a half - everything was fine and I had no problems with withdrawing money. Can admit great customer service

  • Monica says:

    I withdrew from etoro and brought it to the ban in seconds. In general, the application works quickly and deserves my five stars!

  • Windy says:

    etoro in my opinion is a famous and reliable broker, which is easy to understand and use. I have been with them for nearly 4 years and use their trading platform and etoro wallet, of course. etoro wallet has a wide range of cryptocurrencies and it is free of charge

  • Peter says:

    I think that the app has a good future. Smart move from eToro for the long run. Nice design overall. Easy to use and quick to navigate. Fast cash deposit and withdrawal, with very low FX conversion costs (EUR/USD).

  • AlamS says:

    Would you recommend this provider?

    Fees

    Account opening

    Customer service

    Deposit and withdrawal

    Etoro team provides an amazing customer service experience! I had the opportunity to meet Popular Investors and stay updated on eToro. The platform's ease of use and accessibility of my RM simplify my daily trading.
  • William Brooks says:

    Would you recommend this provider?

    Fees

    Account opening

    Customer service

    Deposit and withdrawal

    My eToro experience surpassed expectations. The user-friendly platform, coupled with instant fund withdrawal, enhances satisfaction. Since 2021, eToro remains my go-to, a reliable and regulated platform. Exceptional customer service makes the investment process enjoyable. As a top choice for retail investors, eToro stands out with excellent support, diverse membership levels, and numerous privileges, leaving a positive investment impression.Overall, eToro provides a hassle-free and enjoyable investing experience.

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