How to buy Bitcoin and Dogecoin on eToro

One of the most popular and widely used platforms for buying crypto, including Bitcoin and Dogecoin, is eToro. Intuitive, high-performance and efficient: it is important to know how to use it to make your purchases profitable over time.

Before moving on to how it works, it is important to know what eToro is and what are the characteristics of the cryptocurrencies that can be bought on it, in this specific case Bitcoin and Dogecoin, two of the most prestigious in terms of value.

What is eToro and how the platform works

eToro is a multi-asset social investment brokerage firm with ten offices spread across the globe, including the US, UK, Israel, Cyprus and Australia.

eToro’s platform offers both manual and social investment features and is available in both browser and app form.

When it comes to manual investing, eToro offers a wide selection of stocks, currencies, commodities, cryptocurrencies, ETFs and indices through its innovative platform. Indeed, by using eToro’s professional tools and analytics, users can follow a wide range of financial instruments and choose which ones to invest in.

In addition, eToro offers social investing, which allows users to follow the investment activities of other traders and use the CopyTrader feature to replicate all their trades in real time.

To make this process possible, eToro’s platform provides full transparency, showing each client’s relevant data such as the percentage of earnings, risk score and portfolio composition.

How eToro works to buy crypto like Bitcoin and Dogecoin

Let’s go in detail, let’s review a simple guide how to buy crypto on the eToro platform.

First of all, you need to create or log into your personal eToro account.

Once logged in, to purchase, click on “demo wallet“, after this operation a box will appear on the screen, where you need to click on “virtual wallet”.

In the left column you will find the option “markets“, when this is selected, you need to click on “crypto” button. At this point, the user is faced with the screen where there are all the cryptocurrencies that can potentially be bought, which can also be in list format, and where the sentiment of eToro’s investors is indicated.

Let’s say you want to buy Bitcoin, at this point in the operation you need to select the Bitcoin crypto from the list and then click on “buy”. Before proceeding, you need to tell the platform how much you want to buy, which can for example be in dollars or per unit if you want to choose a specific number of Bitcoins.

Once you have decided on the quantity, you need to click on “open the position” and eToro will then give the screen the executed order.

This is not the end of the story, because once you have bought the crypto you need to check the status of the completed purchase. Thus, you return to the wallet to check whether the order has actually been filled.

However, nothing detracts from the fact that one may have second thoughts regarding the quantity purchased. Not a problem, not with eToro. In fact, the platform allows you to change the order yourself at a later time.

For example, if we wanted to change Prevent losses (the tool to limit losses) or Earn from it (the tool to close the trade at a certain rate with the price in favor) of the order, we only need to click on the trade to be changed.

That is, if you want to trade on Stop Loss, you can click and change it by setting it either as a price level or as a currency amount. The same and from the same page can also be done with Take Profit.

Once you are sure of the actions you have taken, you just have to wait and see if the purchases made on eToro will actually be profitable.

The example was carried forward with the crypto Bitcoin, the most expensive and most prestigious crypto on the market at the moment, but it also applies to Dogecointhe famous crypto that managed to get support from Elon Musk. Or for any other crypto you plan to buy on eToro.

Bitcoin and Dogecoin: value and history of cryptoassets

Both Bitcoin and Dogecoin are two cryptocurrencies that boast value and recognition within the decentralized market.

Specifically, Bitcoin’s history was officially born on October 31, 2008, when its creator, the celebrated and unknown Satoshi Nakamotopublished it on a crypto mailing list.

Satoshi released the first code (Bitcoin Pre-Release), on January 3, 2009 and mined the first blockchain of mint the first 50 BTCand on January 9, he released the first official version of the software (Bitcoin v0.1.0).

At that time, BTC still had no market, so its value was zero. Also, there was a very small group of people to use Bitcoin v0.1.0.

On May 22, 2010, or less than a year and a half after the creation of the first BTC, the first payment in Bitcoin in the entire history of a tangible commodity was made: two pizzas, paid 10,000 BTC.

The initial market price for Bitcoin was around $0.06. Just a year later, the first major Bitcoin price boom occurred, peaking at $32.

In the years to come, Bitcoin has gone through several ups and downs in the market, until 2017, the breakthrough year. In fact, the price of Bitcoin peaked that year $20,000 and gave room for expansion to the number of other cryptocurrencies in the market.

Dogecoin (DOGE

And this is where Dogecoin comes in, gradually. Krypto Dogecoin has a very peculiar and, if you like, even ironic history. In fact, Dogecoin was born as a meme in 2013, as a picture of a real Shiba Inu dog looking a little cross at the human trying to touch it.

At this point, Jackson Palmer, an engineer who used to work at Adobe, tweeted out an image: a coin with the face of a Shiba Inu Doge in the middle, reworked in Photoshop.

After this, Palmer bought the domain Dogecoin.com, but only created the home page with the image of the non-existent coin and an invitation to join him on this adventure. However, it was enough to attract the attention of Dogecoin’s other father: IBM engineer Billy Markus.

Today, Dogecoin has a total value of approx 2 billion dollars.

Additionally, on February 4, 2021, Elon Musk, CEO of Tesla and SpaceX, posted a photo montage on Twitter and sent the cryptocurrency world into a frenzy. The image was produced by Musk himself holding up the crypto Dogecoin, as in the famous scene from The Lion King.

Within hours, the world knows about this virtual currency and everyone starts looking for it in the many more or less official and reliable “exchanges” on the web.