Whether you made a decent profit or just don’t feel comfortable keeping your Bitcoin and other digital assets on eToro, there comes a time when you just want to withdraw your assets to a more secure wallet. To do so, you’ll need a reliable crypto wallet to store your digital assets before eventually selling them for fiat currencies.
In this how-to withdraw Bitcoin from eToro guide, we will guide you through the process of withdrawing Bitcoin and other digital assets from your eToro account to your Zengo wallet so that you won’t make any mistakes and have complete control over your private keys.
Before you can withdraw Bitcoin or other digital assets from your eToro account, you have to make sure you have your Zengo wallet correctly set up and ready to go. Zengo is a next-generation non-custodial crypto wallet that uses state-of-the-art MPC technology to make sure your digital assets are safe and secure. Zengo is more secure than hardware wallets and safer than centralized cryptocurrency exchanges because of its built-in Web3 firewall, no private key vulnerability, and guaranteed account recovery system thanks to biometric facial recognition software.
You can double-check whether your Bitcoin or other digital assets have arrived in your Zengo wallet app by opening the app and checking the main balance page. In case you want a more detailed overview of your latest transactions, simply tap the ‘History’ button.
Zengo is the world’s leading Web3-ready non-custodial wallet that makes use of state-of-the-art biometric key phrases instead of traditional mnemonic ones. Apart from that, the wallet app features a beginner-friendly UI, supports multiple digital assets, including Bitcoin and the most popular altcoins, and it allows users to easily buy and swap cryptocurrencies through both its own platform and external (DeFi) applications.
Zengo takes digital asset security to a whole new level with biometric facial recognition 3FA. No more writing down seed phrases or printing out QR codes whatsoever. Instead, enjoy the benefits of the latest MPC technology to rest assured your assets are safe.
Zengo’s fully non-custodial wallet allows you to be in total control over your own digital assets. Apart from that, you can diversify your crypto portfolio by using Zengo’s fiat onramp services. Looking to grow your digital asset holdings? Then be sure to check out our savings program.
Instead of having to deal with chatbots, Zengo provides real human customer support whenever you need it. You can contact the support via live chat 24/7, all year round, even during the weekends and holidays.
Zengo allows users to send or withdraw Bitcoin and other digital assets freely and completely hassle-free to other wallets. Simply tap on the “Actions” button, select the cryptocurrency you want to send, and enter the receiving address.
To withdraw Bitcoin or other digital assets to fiat using Zengo, simply click on the ‘Actions’ tab in the main menu and then on ‘Sell.’ When you’ve done this, select the digital asset you want to sell and determine the desired amount. Your Bitcoin or other assets will now be automatically sold to Zengo’s integrated service, and you will receive USD, EUR, or GBP in return. At this point, you can simply withdraw the fiat currency to the bank account connected to your Zengo wallet app.
You can find more information about withdrawals from eToro in the frequently asked questions section below.
eToro is a social trading and multi-asset investment platform that allows users to buy, trade, and stake over 2,000 different cryptocurrencies, stocks, forex pairs, commodities, and other financial instruments. It was founded in 2007 and has 1,700 employees across the globe. eToro also offers an app called eToro Money App, which allows users to buy, send, and receive cryptocurrencies.
The main difference between eToro and Zengo is that eToro is merely a broker providing custodial cryptocurrency wallet services, meaning that it holds the private keys which grant access to your crypto. With Zengo’s non-custodial wallet app, you’re in total control of your own private keys and thus Bitcoin and other digital assets. Another key difference is that eToro focuses mainly on stocks and provides centralized cryptocurrency exchange services apart from that, while ZenGO mainly focuses on digital assets, Web3, and Metaverse.
eToro charges a flat fee of $5 on each withdrawal, both crypto and fiat, apart from the regular miner fees. In the event of withdrawals in a currency other than USD, conversion fees will apply.
Although eToro has a minimum withdrawal limit of $30 in place, there are no maximum withdrawal limits as of writing this How to Withdraw Bitcoin From eToro guide.
Depending on the withdrawal method chosen, it can take up to 10 business days for funds to appear in your account statement. Fiat withdrawals withdrawn with the eToro Money app should be processed in less than 30 minutes.
There are quite some problems that can arise when withdrawing Bitcoin or other digital assets from eToro. For instance, it can be the case that eToro blocks your withdrawal request because your account hasn’t been fully verified yet. Other things that can go wrong are that you fill in the wrong destination address or that you accidentally enter the wrong blockchain network. Whenever either of these two things happens, your funds are lost forever, as cryptocurrency transactions are irreversible.
You can withdraw crypto to fiat on eToro by tapping on ‘Withdraw Funds’, followed by ‘How much money would you like to withdraw?’, and then entering the amount to withdraw. Then click ‘Continue’, select the currency, and then ‘Submit’ to finalize the withdrawal. In short, it boils down to moving the funds from the regular eToro trading platform to the eToro Money app and then initiating a crypto-to-fiat sale, followed by a withdrawal from there.
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