eToro wallet - top-ups and withdrawals

Remay Villaester (May)
31.03.21
4 minute read

Thinking of using eToro? The popular trading platform describes itself as “the global leader of social trading”¹.

One of the first things you’ll need to get to grips with when using the platform for cryptocurrency trading is the eToro wallet. In this guide, we’ll take a look at how the wallet works and crucially, how you can top-up and withdraw from it.

We’ll even give you a hot tip for saving money when trading stocks & ETFs and CFD with eToro. The platform operates in USD², which means currency conversion fees whenever you top up or withdraw from your eToro trading account in GBP.

Open a multi-currency account with Wise and you can deposit and withdraw in USD, just like a USD local.

But more on that later. Let’s start with the basics of using the eToro wallet.

What is the eToro wallet?

The eToro Money wallet is designed specially for cryptocurrency trading. It’s a secure digital crypto wallet, accessed and managed through an app. From here, you can buy, receive, store and transfer cryptocurrencies. You can manage a huge 120+ cryptocurrencies using the eToro wallet. The list includes Bitcoin, Bitcoin Cash, Dash, Litecoin, Ripple and many more³.

Other eToro Money features include⁴:

  • Unlosable eToro Money crypto wallet private security key
  • Changing Crypto to Crypto - change any of 500+ crypto pairs to other crypto assets
  • Accounts protected by high-level security features and industry-standard protocols- including DDos protection and multi-signature facilities.
  • On-chain address - so you can store your cryptocurrencies anywhere on the blockchain.

Top-up and withdrawal using the your eToro Wallet - how it works

To start using the eToro Wallet, you’ll first need to sign up for an eToro trading account. You can also use this for depositing funds and withdrawing trading profits.

Once you have an eToro account, you can login to the eToro Wallet using the same sign-in credentials.

Then, you can transfer cryptocurrency coins directly over from your account to your wallet. It’s important to note at this point that this is a one-way deal⁵. You can’t transfer coins back to your trading account from your wallet - we’ll cover what to do about transferring coins out again in just a moment.

Topping up your eToro Wallet

You can top up your eToro Wallet by transferring coins from your eToro trading account. But you can also deposit directly, in the eToro Money app.

Follow these steps⁶:

  1. Log into your eToro Wallet via the app
  2. Choose a deposit amount and payment method - choosing from online banking, credit or debit card, PayPal, Skrill or another payment method
  3. Review the transaction and tap ‘pay’ to confirm.

Your account should be credited within minutes.

How to withdraw from the eToro Wallet

Now, how do withdrawals work on the eToro Money Wallet app? We’ve already mentioned that you can’t send coins back to your eToro trading account.

So, to withdraw cryptocurrency, you’ll need to send it to an external wallet. This is relatively straightforward to do within the app, but you’ll need to have an account on CEX.io or another cryptocurrency exchange site⁷.

Another option is to withdraw directly from your eToro Wallet, which you can do at any time. When you submit a withdrawal request, the funds are sent to the same account that you use to deposit in your eToro trading account⁸.

Are there any fees?

eToro doesn’t charge any fees for deposits, but you may have to pay a $5 (approx. £3.64) fee per withdrawal. There’s also a minimum withdrawal limit of $30 (around £22) and inactivity fee of $10 per month⁹.

The platform also charges fees for currency conversion unless you’re a Diamond member using these payment methods; bank transfer, iDEAL, Sofort, Trustly – Online Banking and PayPal in AUD, EUR and GBP.¹⁰

Wise multi-currency for trading without borders

If you don’t want to pay a currency conversion fee every time you top-up and withdraw from your eToro account to trade in stocks, ETFs and CFD, here’s a handy solution.

Open a multi-currency account with Wise and you can deposit and withdraw in USD, the currency eToro uses. You can do this just like a US local, thanks to the US account details you get when you open your Wise account. Simply use these for deposits and withdrawals to reduce the conversion costs.

When the money hits your Wise account, you can withdraw, spend or hang onto it for future trading top-ups - it’s completely up to you.

Start saving today with Wise


So, that’s pretty much it - everything you need to know about top-ups and withdrawals with the eToro Wallet. Before getting started, just remember that cryptocurrency trading can be complicated - so make sure you fully understand and are comfortable with the risks involved.


Sources used for this article:

  1. etoro website
  2. etoro customer service page
  3. etoro page - cryptocurrencies
  4. etoro crypto wallet
  5. etoro customer service page
  6. etoro faq page - deposit
  7. Cryptimi - etoro review
  8. Coinlist - etoro review
  9. etoro - trading fees

Sources checked on 31-March-2021.


This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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