In this eToro wallet review, we take a look at what the TradFi giant brings to the crypto space. We discuss eToro wallet’s features, security, fees, and more. Read on to find out if it’s the best fit for your needs.
Overall, while the eToro wallet has relatively high fees, its integration with the eToro platform, ease of use, multi-asset compatibility, and security make it an excellent choice for beginners.
Key Takeaways
- The eToro wallet is accessible directly from the eToro Money app.
- eToro’s UI and simple design make it one of the easiest crypto wallets to use.
- While the eToro wallet is custodial, it has layers of security measures to keep your crypto safe.
- The app shows your entire portfolio, including your TradFi assets like ETFs or stocks.
- eToro’s wallet fees can make it inefficient for more sophisticated traders and investors.
Disclaimer: Investing in cryptocurrencies carries significant risk. Values are highly volatile. Never invest more than you can afford to lose. This site does not provide financial advice. Act based on your own research and consult with a financial professional before making decisions. Don’t invest unless you’re prepared to lose all the money you invest.
Why Trust CCN’s Reviews?
We’ve published hundreds of reviews across the crypto and finance sectors. Each one, including this eToro wallet review, is the result of meticulous research. We test every product thoroughly, checking all of its features, customer support response times, and UI quality. Then, our team of writers and editors compares it to the tools we’ve reviewed in the past.
Once we’ve got all of this information, the team starts putting together the review. We make sure every piece of information is unbiased and backed by real experience.
It can be hard to find the right one for overcrowded sectors like crypto wallets for you, as differences can be minor and confusing. Instead, let us do the work.
What Is the eToro Wallet and How Does It Work?
The eToro wallet works as part of the eToro Money app, an app designed to simplify sending funds in different currencies on the eToro platform. The app integrates seamlessly with the preexisting eToro apps, including the popular trading platform.
The eToro wallet supports over 30 cryptocurrencies in over 70 countries. With it, you can directly buy and sell crypto for USD, EUR, or GBP. After selling crypto into your account, you can immediately reinvest it through the eToro trading platform.
In our eToro wallet tests, the service is at its best coupled with a cold wallet for extra security, which pairs nicely with its 0% fees for transferring tokens onto the platform from an external wallet.
Quick Verdict: Is eToro Wallet Good for Crypto?
Yes, eToro is good for crypto as a safe space to buy, sell, and transfer your tokens. The wallet is accessible directly from the eToro Money app and is extremely easy to use. As a custodial wallet, you don’t need to worry about memorizing or protecting your seed phrase. There are also automated staking features to make earning crypto passively a breeze.
With that being said, certain setbacks like high fees and a low number of supported cryptocurrencies keep eToro from being one of the best crypto wallets for most users.
Visit The eToro Money Wallet
Disclaimer: Donʼt invest unless youʼre 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 by clicking here.
Who Should Use the eToro Wallet?
The eToro wallet is a great choice for beginner investors and traders looking to get into crypto without straying too far from familiar services. The addition of automated staking also makes it a good choice for earning passive income without getting into the weeds of how staking works.
That said, the drop in security from a custodial wallet, as well as high fees and a relatively slim selection of supported crypto, makes it ill-suited for more advanced users.
Basic Details of eToro
eToro was founded in January 2007 in Tel Aviv-Yafo, Israel, by Yoni Assia, Ronen Assia, and David Ring. The company has since expanded to a global reach of over 70 countries.
The eToro wallet was added back in 2019, as part of eToro’s push to break into the crypto space. After a rocky start with the SEC (Securities and Exchange Commission), eToro became licensed, with the US division of the company operating under eToro USA LLC and eToro USA Securities Inc. Today, the wallet is fully licensed in all the countries it operates in.
Pros and Cons of eToro Wallet
If you’re pressed for time, consider the pros and cons below for a bare-bones review of our eToro wallet review.
Pros of eToro Wallet
- Directly integrated into the eToro trading platform.
- You can view and manage your multi-asset portfolio from one place.
- Globally regulated and safe with a long track record.
- Extremely easy to use for beginners.
- Automatic, zero-effort staking.
Cons of eToro Wallet
- High fees compared to similar wallets.
- Limited number of supported cryptos..
Features and Limitations of the eToro Wallet App
Setting aside the eToro wallet’s position in the eToro ecosystem for a second, let’s look at what the wallet itself can do for you.
Supported Cryptocurrencies
The more cryptocurrencies a wallet supports, the better. Supporting more varied tokens makes it easier to pivot your portfolio based on market conditions and makes jumping into new tokens a breeze.
The eToro wallet supports almost 40 tokens, fewer than most of its competitors. However, if you’re just looking to stack a big token like Bitcoin, Ethereum, or Solana, it might be all you need.
Crypto Buying, Selling, Transfers, and Staking
Every solid crypto wallet needs to facilitate smooth transfers between wallets. You might want to use the eToro wallet for crypto you’re going to sell soon, while using a cold wallet for assets you’re HODLing. This way, you capitalize on eToro wallet’s ability to instantly buy and sell crypto, while reaping the security benefits of a cold wallet.
On top of this, you can convert cryptocurrencies directly from the wallet, making reallocating your portfolio a breeze.
One of eToro’s more interesting features is its automatic staking. This feature will automatically stake idling crypto in your wallet, letting you earn passive income from tokens you aren’t actively trading.
eToro Wallet App
The eToro team has a long-standing track record of making quality mobile apps, and the eToro wallet is no exception. The wallet itself is an extension of the well-designed eToro Money app.
If you’re using the entire eToro suite, you can monitor your entire portfolio (including TradFi assets) from a single app. Furthermore, the mobile version of eToro Money provides all of the functionality of its desktop counterpart.
Is eToro Wallet Safe for Cryptocurrency?
Your wallet’s security is the only thing standing between your crypto and malicious actors. Let’s see if eToro’s defenses are up to the task.
Security Features
Alongside two-factor authentication, eToro employs a variety of strategies to keep your crypto safe in its custodial wallet. These include a PIN code, machine learning algorithms to detect unauthorized access, and more. Unfortunately, while the eToro trading platform keeps crypto in cold storage, the eToro wallet holds your crypto on the blockchain, which is slightly less secure.
eToro is a custodial wallet, meaning eToro handles your private key, rather than you having to memorize it or keep it written down. While this makes your wallet slightly more vulnerable to cyberattacks, if you lose access to your private key with a non-custodial wallet, your crypto becomes entirely unrecoverable.
Track Record
Over its almost 20-year history, eToro has never suffered a major hack or data breach, showing a strong commitment to security. The company has maintained a bulletproof reputation and has navigated the sea of ongoing crypto regulation with no scandals.
Because of eToro’s track record, the wallet being custodial is much less of an issue. One of the leading causes of unrecoverable crypto is lost or compromised private keys, leading to billions in total damages. With eToro’s 20-year history of security, this is extremely unlikely to happen.
KYC/AML Requirements
You must complete full KYC verification to use the eToro wallet. This means you’ll have to provide the platform with your full name, government-issued ID, proof of address, and a phone number in order to use it.
Regulatory Compliance and Licenses
The eToro wallet is regulated, which comes as no surprise, as eToro’s trading platform holds countless licenses, including in the US, EU, UK, and more.
The eToro Money wallet is provided by eToro X Limited, a regulated DLT provider licensed by the Gibraltar Financial Services Commission.
The wallet is also registered with the Bank of Spain and the Italian Organismo Agenti e Mediatori (“OAM”) through eToro (Europe) Digital Assets Ltd.
Finally, the eToro wallet service is supervised by the German Bundesanstalt für Finanzdienstleistungsaufsicht, Bafin.
Fees and Costs of Using eToro Wallet
eToro wallet fees are relatively high compared to hot wallets like MetaMask or Coinbase. Let’s dig into what they look like.
Crypto Transfer Fees
When transferring crypto from the eToro trading platform to the eToro wallet, you’ll be subject to a 2% flat fee with a $1 minimum fee and a $100 maximum fee. On top of that, there’s a blockchain fee that varies. However, when transferring crypto from an external wallet, there are no fees other than the blockchain fee.
Send/Receive Fees
There are no fees when sending or receiving crypto through the eToro Money crypto wallet, apart from the mandatory blockchain fee.
Hidden or Additional Charges
There is a 1% conversion fee when selling crypto for EUR or GBP rather than USD. The fee is lower for eToro Gold, Platinum, and Diamond users, with Gold and Platinum users paying 0.8% and Diamond users paying 0.6%.
Other fees include:
- A $10 inactivity fee each month after not using your account for a year.
- A fee of $3 per trade when trading futures.
- Variable conversion fees when converting to and from USD, EUR, and GBP.
Deposit and Withdrawal Options at eToro Wallet
Since the eToro wallet is a peripheral feature of the broader eToro ecosystem, it doesn’t have many deposit or withdrawal methods.
Deposit Methods
There are three ways to deposit crypto into your eToro wallet:
- Transfer crypto from an external wallet into eToro Money.
- Transfer crypto from the eToro trading platform onto eToro Money.
- Buy crypto directly from the interface via bank transfer or other available payment options (region-dependent).
Withdrawal Options
Unfortunately, you can’t take the crypto from your eToro wallet and put it back into your trading account. Instead, you can sell the said crypto and put fiat into your trading account. Available eToro wallet withdrawal options are:
- Withdrawing crypto to another wallet.
Processing Times
Overall, we found the response times at eToro to be quite swift, with crypto transfers taking less than 20 minutes and bank transfers taking up to a couple of business days to process.
User Experience
One of eToro wallet’s biggest advantages over the competition is its simplicity and sleek design.
Getting Started with eToro Wallet
The onboarding process of the eToro wallet is extremely simple. Just follow these steps:
- Download and install the eToro Money app.
- Log in to your account with the same credentials as your eToro account.
- Tap the Crypto button at the bottom of your screen.
From here, you have two options to create your first wallet:
- Transfer crypto from the eToro trading platform to eToro Money.
- Tap “Create Wallet +” at the bottom of your screen if available, then tap “Add” next to the type of wallet you want to create.
Wallet Design
The eToro wallet is incredibly well-designed, with a sleek green-on-white color scheme much like the trading platform. It has big, bold buttons with a clear purpose, designed with the new user experience in mind.
The menus are intuitive, and you’re never more than a few clicks away from what you’re looking for.
eToro Wallet Help Center & Learning Tools
One of the advantages of using a wallet integrated with one of the world’s leading trading platforms is the abundance of learning resources available. If you face any issues with the eToro wallet or trading platform, the eToro Help Center has hundreds of articles that could help you.
With eToro Academy, you gain access to an abundance of learning resources on investing. The platform covers both crypto and TradFi investing in great detail, making it perfect for beginner investors. However, more advanced traders won’t be disappointed either, with deep market insights and news published on the platform.
Customer Support at eToro
With eToro being a global financial giant, you have access to a lot more support options than with most wallets. Here’s how you can contact the eToro team.
Contact methods
Live Chat
You can contact eToro support directly through their website via live chat. After a brief interaction with a bot that’ll help you find Help Center articles that could help your case, you’re routed to a real person. This process took around 5 minutes in our testing.
Support Ticket
If you can’t log into your eToro account, you can contact customer support via a Support Ticket as a Visitor. This was a bit slower in our testing process, taking around an hour to get a response.
WhatsApp
Available exclusively to eToro Club members with over $5,000 on the platform, you can contact your Account Manager through WhatsApp. The account managers are very active, with us receiving a response in under 3 minutes.
Community support
Reddit and Discord Groups
eToro has an active subreddit with over 30,000 members, and a plethora of related Discord groups where you can reach out to the community for help.
eToro Wallet Supported Countries
The eToro wallet is available almost everywhere the eToro Money app is. This covers most of the world, including countries like the US, UK, and Australia. However, due to regulatory issues, US citizens who don’t reside in the US aren’t allowed to use the platform.
The list of countries where the eToro wallet is available can be found here.
Final Verdict: Is eToro Wallet a Good Crypto Wallet in 2025?
Overall, eToro is a good choice for beginner traders just looking to start in crypto. The wallet is extremely easy to use, integrated with eToro’s trading platform, and allows you to manage your TradFi portfolio alongside your crypto. However, the wallet is also custodial and has high fees, which prevent it from being a good choice for more serious investors.
Visit The eToro Money Wallet
Disclaimer: Donʼt invest unless youʼre 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 by clicking here.
Frequently Asked Questions
On top of multi-factor authentication, the eToro Money Wallet uses advanced signature mechanisms and analytic behavior machine learning to ensure first-rate security. However, it’s still a hot wallet, meaning it’s connected to the internet and your eToro account. If you’re looking to take your wallet security to the next level, exploring the best cold wallets is a good idea.
No, to use your eToro wallet, you’ll need to access it through the eToro Money app, which requires an eToro account.
It depends. For users who value ease of use and a simpler portfolio management experience, the eToro wallet might be better. However, Coinbase Wallet offers lower fees and dApp integration. On top of this, Coinbase is non-custodial, meaning you keep your seed phrase. This offers an added layer of security, at the cost of keeping your keyphrase safe.
Your crypto is stored on the blockchain, with the wallet connected to the internet, making the eToro wallet a hot wallet. As a general rule, these are slightly less secure. We recommend keeping the majority of your portfolio in a cold wallet, and only keeping crypto you’re actively using or trading on a hot wallet.
The biggest difference between MetaMask and eToro is that the eToro wallet is custodial, while MetaMask isn’t. This means MetaMask gives you access to your seed phrase, becoming more secure and putting more responsibility on you. MetaMask also supports a wider variety of crypto, but eToro offers a smoother blend with TradFi assets. Both of these wallets have their place, with MetaMask taking the edge for intermediate or advanced users.
To withdraw crypto from your eToro wallet, follow these steps:
- Tap the “Crypto” icon at the bottom of your eToro Money app.
- Press the crypto you want to withdraw, then “Send.”
- Input the amount you want to withdraw and your external wallet’s address.
- Tap “Send.”
- Input the SMS code eToro will send you and tap “Verify.”
Ilija is a CCN writer with 7 years of experience covering all things crypto. Ever since a fateful run-in with Litecoin in 2013, he's been an avid investor and writer in the space. When he's not maniacally hacking away at his keyboard, Ilija spends his time either hiking in nature or holed up in his apartment gaming.
