Originally, Etoro belongs amongst the biggest trading platforms in the world. The wallet and exchange program is a relatively new feature on the platform. A private key service ensures the wallet is safe and secure and any data lost is recovered quickly. Currently, on eToro Wallet, one can trade in more than 120 cryptocurrencies. The app allows you to convert currencies inside it. More importantly, up to 500 crypto pairs can be made.
To understand more, let’s do a mini eToro wallet review.
Features Of The eToro Wallet
The Fees
A 0.1% fee is charged on currency conversion with no charges levied for sending or receiving while transacting money - only blockchain fees are applied.
A sending fee limit of $50,000 is placed on the beta stage for users. In a day, you can send crypto assets worth $200,000 at most for each.
There’s a conversion limit on the beta stage too. One gets $20 per transaction and the daily maximum transaction limit is $10,000. For the beta stage, the minimum withdrawal amount is 0.008 BTC. The fee is 0.0005 units. For ETH, it is 0.26. The fee would be 0.006 units and so on. Depending on the kind of currency, the minimum withdrawal changes as some currencies are more favored over others.
Choice In Coins
Up till now, 120 crypto currencies can be exchanged and converted on the platform. Initially, they started with Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.
Devices
The eToro wallet works on iOS and Android devices, however, a desktop version isn’t available.
Security
You can use your previous eToro credentials to log in to the app. This way, you don’t have to make up a new password. To make this safer, two-factor authentication and multi-security are among the features.
Advantages
The biggest advantage of eToro wallet is that it is already a part of a trusted brand all over the world. They have a huge number of coin choices and a good security system. Similar to the original eToro platform, a number of languages are supported. You can synchronize with an existing account and the interface is easy to use - so you don’t take long to learn.
Disadvantages
Well, we can’t think of much. Maybe they can add more cryptocurrencies but they have been adding them regularly. Other than that, this being available on the laptop would save everyone a lot of time.
Final Thoughts
Simply put, the eToro wallet is a great way to have on the go access to coins. As an eToro member, you aren’t forced to use the wallet. If you do use the wallet though, you have a number of accessible features. Most importantly, you can easily convert coins and receive and send crypto currencies to others easily making trading super easy and convenient. The app is also available on a number of countries. Check if your country falls among them and if it does, download it right away. Happy Trading!