Moving your crypto from a trading platform to your wallet is often a straightforward process if both platforms support it.
Your funds may take some time (sometimes up to days) to move from a trading platform to your wallet, but transfers are possible.
Let’s look at how to make a transfer between eToro and Exodus.
Can You Transfer Coins from eToro?
You can transfer your coins from eToro to your crypto wallet. Before you do that, however, you’ll have to meet some requirements from eToro. Let’s look at them.
Crypto transfers are available in eligible countries only. That means you can’t make crypto transfers to countries outside eToro’s list. To find out if you’re in an eligible country, please check the Crypto section of the eToro Fees page.
Only positions backed by real crypto in eToro qualify to transfer to your wallet. If, for example, you’re trading crypto CFDs, you can’t transfer crypto to your wallet because of the nature of CFD assets.
If you have a new eToro account, it’ll also have limits on your first few wallet transfers. eToro does this to ensure your equity remains equal to or greater than total deposits made with a select number of payment methods, including:
- Credit/Debit cards
- Sofort (Klarna)
Here’s the neat part: eToro only imposes these limits for a few days after your first deposit.
Is It Safe to Leave Your Crypto in eToro?
You can be sure your crypto is safe if you leave it in eToro. Here are three reasons for that:
- eToro is a regulated platform that strictly follows FCA, CySEC, and ASIC regulations. As an investor, you’ll receive a high degree of protection from them.
- eToro offers extra layers of security on your account. For example, you can activate Two-Factor Authentication (or 2FA) on your account. That will require you to enter a second verification code sent to your phone to access your account.
- eToro operates one of the safest crypto wallets in the market.
However, if you want to be absolutely safe, you should move your crypto to your own wallet.
So, what’s so special about their wallet?
The eToro wallet is easy to use. A well-designed and straightforward user interface allows you to navigate and manage your wallet hassle-free.
It also simplifies your crypto trading activity. All from one wallet, you can change any over 500 crypto pairs into other crypto assets without ever leaving your wallet.
Beyond that, you can use your eToro wallet to transfer your assets anywhere on the blockchain with your unique address.
You’ll never lose your private key with eToro. You can recover access to your wallet if you lose it without a problem.
Learn more: How To Transfer From Uphold To Coinbase
Can You Convert Crypto on eToro?
Yes, you can, and it’s pretty easy to do. Here’s how to go about it:
- Sign in to your eToro Money App on your smartphone
- Navigate to the ‘Crypto’ tab. Under it, select the cryptocurrency you’d like to convert
- The app will prompt you to select the amount you’d like to convert and then select the crypto you’d like to receive in exchange
- Once you confirm your details are in order, tap ‘Convert’
If the eToro Money crypto wallet doesn’t support the crypto you wish to convert to, you may not convert it. At the time of this writing, eToro supports up to 20 different cryptocurrencies, including:
- Bitcoin Cash
Why Transfer to Exodus?
What makes Exodus better than eToro? Why should you move your crypto to Exodus? Well, to answer that, let’s briefly look at Exodus.
Exodus is a Bitcoin and crypto wallet that enables you to send and receive bitcoin and over 100 other cryptos from all over the world. It offers desktop, mobile, and hardware wallet options to ensure you can access your assets no matter where you are.
Benefits of Choosing Exodus Over eToro:
- Exodus has the option of a hardware wallet, unlike eToro.
- You can trade in over 138 cryptocurrencies compared to eToro’s 20
- Exodus maintains a Peer-to-Peer platform, giving you full control of your funds on the platform. eToro requires you to open and set up an account with them
- Exodus doesn’t charge you any fees for sending or receiving crypto. eToro, on the other hand, does.
- Exodus is available in more territories than eToro
- Exodus earns money from a portion of the spread while 100% of the fees go to the network miners. eToro makes their money from charging fees.
Learn more: Transfer ETH from Exodus to Binance
How to Transfer Crypto from eToro to Exodus
Here’s how to send coins from your eToro Money crypto wallet to your Exodus wallet:
- Open the eToro Money app on your phone and sign in to your account.
- Select the Crypto tab
- Here, select the type of cryptocurrency you’d like to send to your Exodus wallet
- Tap Send. Doing so opens a page that lets you select the amount you want to send.
- The app will prompt you to enter your Exodus public address. Key it in.
- Another way to enter your Exodus public address is to scan your Exodus QR code. This automatically inputs your public key
- Tap Send again.
- The app will send a verification SMS to your smartphone. Enter this code into your app and tap Verify. Done!
Once you complete this process, a screen appears confirming your request. You can monitor the status of this request on the Transactions tab in your eToro Money app.
Here’s an important note:
Always make sure you check the validity of your public key on the blockchain explorer of your chosen coin. Remember, you can’t reverse a crypto transaction or retrieve your coins from another wallet once sent.
Please take note that it may take some time before your funds show up on your Exodus wallet. Besides other restrictions, it can take up to five business days to process your transfer from eToro.
To make the process faster, eToro may require you to provide more documents to confirm your identity and the validity of your account. eToro does not process requests over weekends and national holidays, so always prepare beforehand