If you want to invest in cryptocurrency, you have to find a platform where you have the opportunity to do so . There are two platforms in particular that stand out, and with which many have had a good relationship, and these are the eToro and Binance platforms .
But gaining status as a people’s favorite has probably not been easy. Both the team behind eToro and the team behind Binance have had to reflect on “little things” and make choices that they think will fall in good taste with their customers – and that is what has given them the position they have today.
One of the “little things” the two teams have had to decide in order to become a real people’s favorite, is which payment methods they should accept. This is a much more important point than many may think, because in practice it can actually mean win or lose. And therefore both actors are dependent on solving this problem in a good way.
In this article, however, we will only focus on one of the platforms – eToro – and we will look at what payment methods they have accepted on their platform.
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Why are payment methods important?
You may be wondering why the platform’s choice of payment methods is so important? Because it’s just a payment method?
Yes, it is easy to think that payment methods are just payment methods, and that it does not play such a big role. And for you personally, it may not do that, which of course is perfectly fine.
But for others, it may not be like that. Maybe it’s a dealbreaker that the platform accepts their favorite payment method so that they will want to use the platform – because the payment method simply makes them feel comfortable and safe.
This is something a trading platform that eToro (and Binance) have to decide on. Otherwise, it is quite possible that they lose many customers on just this – even though it may not be emphasized by you personally.
These payment methods are accepted by eToro
So which payment methods does eToro accept? This is what eToro says about its selection of payment methods: “We offer a number of payment methods, so you can choose the one that suits you best”.
If you ask us, it is a very good starting point. After reading this sentence, at least we are left with a very good expression of eToro when it comes to their choice of payment methods. Let’s take a look at the methods they accept:
- Debit card / credit card.
- Rapid Transfer.
- Klarna / Sofort Banking.
- Bank transfer.
- Bank Transfer / Trustly.
More about eToro’s payment methods
However, it is important to emphasize that the payment process can vary from method to method. This simply means that a transaction made with a debit card could be a little different than a transaction made with Klarna.
Below we will take a slightly more thorough look at each payment method to find out if there is something specific you have to keep in mind in connection with which payment method you choose to use.
Debit card / credit card
Debit / credit cards are a payment method that supports the currencies AUD, EUR, GBP and USD – through the cards Visa Electron, MasterCard and Maestro.
Then it is easy to believe that british can not use this method, but they can. Debit card / credit card is an international payment method where your british e kroner is exchanged for one of the four currencies without you having to do anything or worry about it.
If you pay with a debit or credit card, the transaction will take place immediately, so if, for example, you make a deposit to your account, the money will be deposited into the account within a few seconds.
In connection with PayPal , the same details apply as for the use of debit cards / credit cards. AUD, EUR, GBP and USD are the supported currencies.
The payment method is accepted internationally, and the transaction takes place immediately.
However, using PayPal as a payment method assumes that you have an active PayPal account with money on it or that you have a debit or credit card associated with your PayPal account.
Neteller and Skrill
We have chosen to merge Neteller and Skrill because the details of these two payment methods are exactly the same.
Both Neteller and Skrill support the following currencies: EUR, GBP and USD. Both payment methods are accepted internationally, and the money is transferred within a few seconds.
If you do not have Neteller or Skrill, but want to use one of these payment methods, you will have to create an account on the respective website.
Neteller and Skrill can in a way be compared to PayPal, as Neteller and Skrill are also digital wallets. The biggest difference is that PayPal has been around much longer, and thus has a much stronger position than these two.
Rapid Transfer supports the currencies EUR, GBP and USD. This payment method is available for EEA countries.
Klarna / Sofort Banking
Klarna / Sofort Banking is available in the following countries: Germany, Austria, the Netherlands, Switzerland, Italy, Spain, Belgium and Poland.
They only support this payment method in EUR, but in return the transaction takes place immediately, which is always just as convenient.
The next payment method is regular bank transfer, which is a payment method that can be used by anyone. EUR, GBP and USD are supported here.
In connection with bank transfer, there are no limits to how much you can deposit into your account, but you may want to have a conscious relationship with it anyway.
With regard to this payment method, it is also important to emphasize that it stands out in connection with transaction time. While the other methods take place immediately, the transaction here will take between 4 and 7 working days.
Bank Transfer / Trustly
Bank transfer / Trustly is available for the EU area , so here there are a few more currencies that are supported: CZK, DKK, EUR, GBP, NOK, PLN and SEKK.
This form of bank transfer differs from the other form of bank transfer in that the transaction takes place immediately using bank transfer / Trustly.
POLi is a payment method that is currently only available to eToro customers in Australia, so it only supports the AUD currency.