How to Transfer to a Wallet from Etoro
As one of the world’s most popular social investment networks, Etoro offers plenty of possibilities to make trading convenient, fun, and engaging. Some of the many available features allow users to transfer their Etoro cryptocurrencies to their Etoro Crypto wallet and exchange them for other currencies or simply transfer their assets to external wallets.
If you’re new to Etoro, chances are you’ll need a hand to grasp the basics of money transfer on the platform. Luckily, we’re here to help. Whether you have a mobile app or access the platform via PC, we’ve got you covered.
This article shares step-by-step instructions on how to transfer cryptocurrency to a wallet using a PC, iPhone, or Android. The guidelines are fairly simple, so let’s dive right in without further ado.
How to Transfer Crypto to a Wallet in Etoro on a PC
Users who register on Etoro can transfer cryptocurrency directly from the platform to their Etoro Money crypto wallet. This allows them to exchange their current crypto assets for another currency or make a payment to their external wallet.
To do this, just follow the detailed instructions below:
- Log in to your Etoro account by visiting this link.
- Navigate to the “Portfolio” tab on the left-hand side menu. You’ll be welcomed by a new interface listing all cryptocurrencies and the open trades you have available for each asset.
- Click on a trade you wish to transfer to your wallet. A new “Edit Trade” screen will appear.
- Select the “Transfer to Wallet” option under “Invested.”
- Review the details of the transfer. Once you’re ready, hit “Transfer” to kickstart the process.
You have now successfully initiated the transfer process.
Etoro will send you a notification confirming your request. You’ll see the “Pending Transfer” note on the trade line. You can cancel the request while the transfer is still pending by clicking on the “Cancel” button to the right of the line. Once the transfer is complete, it’s no longer possible to perform cancellations.
The platform usually takes up to five business days to process the request. In some instances, they may ask users for additional documents. Also, while the request is being processed, it may take extra time to see the coins in the wallet.
Note that there can be further delays in the transfer request execution and that the requests aren’t processed on national holidays or weekends.
Stop Loss and Take Profit Notice
While Etoro processes the transfer request, the user’s position remains open and can be closed by Take Profit or Stop Loss risk management tools. To make sure the request remains active, users are advised to remove or adjust their Stop Loss and Take Profit orders.
The trade will close as part of the transfer process, so its full value will temporarily move to the “Available” balance until the transfer is executed by the platform. If you try to use the funds before the transfer has been completed, it will automatically cancel the transfer request. When in doubt, it’s best to check the “Etoro Money” crypto wallet to make sure the transfer is complete.
When the transfer is completed, users can convert it to other cryptocurrencies or send it elsewhere.
- To transfer money from the Etoro account to the Etoro Crypto wallet, users need to meet the minimal money requirements. Otherwise, they’ll see a “Transfer not available” note.
- Users who fund their accounts with U.S. online banking need to wait seven business days before being able to initiate a transfer.
- Users who funded their accounts with debit cards need to wait 60 days before being able to initiate a transfer.
- Users can only transfer coins one way. It’s impossible to transfer the crypto back to the Etoro platform once it has been sent to your external wallet.
- The Smart Portfolio and CopyTrader crypto-assets shouldn’t be available for transfer in the Etoro money wallet.
Sending Crypto to an External Wallet
Users who wish to transfer money from their Etoro crypto wallet to an external crypto wallet first need to transfer money from their Etoro account to the Etoro crypto wallet following the steps explained above.
To send crypto to your external wallet, you’ll have to use your mobile device and allow SMS verification services. Then, follow these steps:
- Launch the Etoro Money app on your iPhone or Android device and log in.
- Navigate to the “Crypto” tab and select the cryptocurrency tab you want to send.
- Hit “Send.” The system will ask you to enter the desired amount and the recipient’s address. You can tap the camera icon to scan the QR code of the recipient to automatically input the address.
- Verify all information and hit “Send.”
- You’ll receive an SMS verification phone on your device. Copy the code and hit “Verify.”
How to Transfer Crypto to a Wallet in Etoro on an iPhone
iPhone users can transfer the crypto from their Etoro account to the Etoro Crypto wallet. This can be useful if you want to exchange the crypto for another one or send it to your external wallet.
First, you need to transfer the available balance to the Etoro Crypto wallet. Here’s how to do so:
- Use the Etoro Money app to log into your account.
- Navigate to “Portfolio” and select the crypto you wish to transfer.
- Hit the specific trade you want to transfer from the list of available cryptos.
- Press “Transfer to Wallet” on the “Edit Trade” screen.
- Review the details and press “Transfer.”
Note that to transfer money from your Etoro account to the crypto wallet, you need to meet the minimal money requirement. Otherwise, you’ll see a “Transfer not available” note in Step 4.
If your account is funded with U.S. online banking, be prepared to wait up to seven business days before you can initiate the transfer. Debit card users should wait up to 60 days before they can start a transfer. Finally, it’s important to note that you can only transfer your Etoro assets one way. This means you can’t send the crypto back to your Etoro account once you transfer it to an external wallet.
The transfer can take up to five or more business days to complete. Once the money is transferred to the wallet, you can send it to an external one by following the steps below:
- Open the Etoro Money app on your device.
- Go to “Crypto” and tap on the cryptocurrency you wish to send to your external wallet.
- Press “Send.” You can enter the amount and the recipient’s address or hit the small camera icon to scan the desired recipient’s QR code to automatically input the address.
- Verify the given information and press “Send.”
- An SMS verification code will be sent to your phone. Copy it and hit “Verify.”
Be prepared to wait a few days for the transaction to be completed.
How to Transfer Crypto to a Wallet in Etoro on an Android
Android users can use their devices to send money from their Etoro account to the Etoro Crypto wallet. This action allows them to convert the existing cryptocurrencies or transfer them to an external wallet like Binance or others.
Here’s how to transfer crypto from Etoro to the Etoro Crypto wallet:
- Log in to your Etoro account with the Etoro Money app.
- Go to “Portfolio” and pick the cryptocurrency type you wish to transfer.
- Hit “Transfer to Wallet” on the new “Edit Trade” screen.
- Review the transaction details and press the “Transfer” button.
To be able to transfer money from Etoro to the Etoro crypto wallet, you need to meet the minimal money requirement. Otherwise, there will be a “Transfer not available” note on the “Edit Trade” screen.
The Etoro account to Etoro Wallet transfer can take up to five or more business days. Once the money is transferred, you can send it to your external wallet by following the steps below:
- Start the Etoro Money app on your Android phone.
- Press “Crypto” and hit the cryptocurrency you want to transfer to your external wallet.
- Press “Send.” You can either enter the amount and the recipient’s address manually or press the camera icon to scan the recipient’s QR code and automatically insert the address.
- Verify the information on the screen and hit “Send.”
- Wait for an SMS verification code to be sent to your phone. Copy the code and press “Verify.”
The crypto will now be transferred to your external wallet. The process can take a few days to complete.
If you use U.S. online banking, you’ll have to wait up to seven business days before initiating the transfer. And if you’re a debit card user, be prepared to wait up to 60 days before you can initiate a transfer.
Also, note that it’s only possible to transfer Etoro assets one way. You won’t be able to send the crypto back to your Etoro account once it’s sent to your external wallet.
Easy Crypto Transfer with Etoro
Etoro is among the most popular social investment networks for a reason. It’s relatively straightforward for users to manage their financial assets and transfer them to external wallets. If you’ve followed the instructions carefully, you are now able to transfer your Etoro account funds to your Etoro Wallet and then send them to an external wallet of your choice.
Which external wallet do you send your Etoro funds to? Did you run into any issues while transferring the crypto? Share your experiences in the comments section below.
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