Bittrex vs eToro | Best Platform To Invest In Crypto?
Jack Moreau
Mar 2024
10 min read
Fact checked
Bittrex vs Etoro are both popular options, but which one should you choose? In this comparison, we'll take a close look at factors such as signup and KYC, trading fees, ease of use, product range and much more to help you make an informed decision!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bittrex and eToro are two well-known and respected cryptocurrency exchanges with different unique selling points.
Bittrex was founded in 2014 by cybersecurity experts with the goal of providing a safe and reliable trading platform. It has over a million users and supports over 400 cryptocurrencies such as BTC, SOL, ETH, and more.
Bittrex exchange
The exchange is recognized for its regulatory compliance and robust security measures and is available in most countries, with the exception of Iran, Syria, Cuba, and a few other locations.
On the other hand, eToro was founded in 2007 and has over 30 million users worldwide. The platform is available in over 140 countries and has it's main office in Tel Aviv, Israel, and legal entities in the US, UK, EU and Australia.
It is a social trading and multi-asset investment platform that allows users to trade various financial instruments, including cryptocurrencies, stocks and ETFs.
eToro exchange
eToro supports a limited range of 80 cryptocurrencies, including Bitcoin, Ethereum, and other popular digital assets. One of its unique features is the ability for users to follow and copy the trades of experienced investors, creating a community-driven trading experience.
eToro cryptocurrencies
In terms of restricted countries, eToro is available in most countries around the world but currently not available in Canada, China, India, Indonesia, and South Africa.
For those who want to use eToro on mobile, it's available on Android and IOS where it has over 10 million downloads with 4 star rating based on 100,000 reviews.
eToro app
Bittrex vs Etoro Signup & KYC
When it comes to signing up for a cryptocurrency exchange, the process can vary greatly from platform to platform. Let's take a look at how Bittrex and eToro handle KYC and the signup process.
Bittrex requires KYC for all of its users, meaning that full verification is necessary to access any features. The signup process takes a bit longer than some other exchanges, with a full KYC verification taking 5-10 minutes.
However, the ID verification process can be as swift as 10 minutes in some cases. In the slowest cases, it can take several days for verification.
Bittrex KYC verification
On the other hand, eToro also requires KYC for trading on it's platform and the signup process requires users to enter a username, email and confirm the email verification.
However, once you've signed up, eToro's verification process also require that you provide some personal information and upload some documents such as ID and proof of address.
eToro KYC
Once all the documents have been submitted to etoro, It can takes a 1-2 business days for the account to get verified. For those that would like to trade cryptocurrencies but not go through KYC, we recommend alternatives such as OKX and Phemex.
Bittrex vs Etoro Products & Services
Bittrex offers a very limited range of products and services, such as spot trading and staking of cryptocurrencies such as Cardano. And when it comes to the user experience of Bittrex, things don't improve much.
Spot trading on Bittrex
The user interface on Bittrex is pretty uninspiring and basic. It's annoying that the signup process requires immediate KYC without having a chance to browse the features. Besides the wide range of cryptocurrencies that Bittrex offers, the whole experience on this platform just seems low effort.
Bittrex crypto markets
On the other hand, eToro stands as a dynamic trading platform that offers over 3,000 digital assets and a wide range of trading tools.
The platform showcases a comprehensive range of over 3,200 stocks from market giants like Google, Tesla, Microsoft, Uber and Amazon.
eToro Stocks
Additionally, traders can tap into a global market, accessing over 50 currencies, upwards of 30 sought-after commodities, and a refined set of over 20 leading indices. Note that indices, currencies and commodities are not available to users in the United States.
eToro Currencies
Not to overlook the crypto sector, eToro provides an impressive list of over 70 cryptocurrencies, highlighting major players such as Bitcoin, Ethereum, Solana, Cosmos and others.
eToro Cryptocurrencies
For those inclined towards ETFs, eToro offers a vast selection of over 400 ETFs, featuring industry stalwarts like SPDR S&P 500 and Ark Innovation.
eToro ETFs
Dedicated to empowering its users, eToro has set up the eToro Academy. This educational arm provides a wealth of resources including advanced courses, engaging webinars, and step-by-step trading tutorials.
eToro Academy
On the technical front, eToro's integration with TradingView ensures traders have access to comprehensive charts, vital for making calculated decisions.
To enhance decision-making, eToro comes equipped with robust risk management tools, allowing users to set desired profit targets and safeguards against potential downturns.
Novices, or those looking to trial strategies without stakes, can use eToro's demo mode, which comes with a $100,000 virtual portfolio. Stop Loss and Take Profit are not guaranteed.
eToro Demo Trading
Another one of eToro's standout features is its innovative copy trading functionality that enables users to monitor, learn from, and replicate the trades of seasoned traders.
eToro Copy Trading (Past performances are not an indication of future results)
Pivoting to the latest in market trends, eToro has also ventured into the world of NFTs with its Delta platform where users can buy and sell NFTs on Ethereum.
Let's take a look at the trading fees offered by two exchanges: Bittrex and Etoro. Bittrex charges a flat rate of 0.75% for both spot maker and taker fees. However, they do offer trading fees rebates for those whose trades exceed $25,000 during a 30-day period.
Bittrex spot fees
On the other hand, Etoro charges a 1% fee for buying and selling cryptocurrencies with no rebates for higher trading volumes.
eToro Crypto Fees
Users on eToro also have the great advantage of being able to buy stocks at 0% commissions with no management or rollover fees.
eToro Stock Fees
While Etoro's 1% fee for buy cryptocurrencies is slightly higher than Bittrex's, for those that are also interested in buying other financial products such as stocks, that can be done on eToro with 0% commission.
When it comes to depositing funds on cryptocurrency exchanges, it's important to consider the deposit methods available and the associated fees. Let's take a look at the deposit options offered by Bittrex and Etoro.
Bittrex supports three fiat currencies in USD, EUR, and GBP and allows for deposits via wire transfer, bank transfer (ACH), SEPA, and credit/debit card.
With bank deposits being free of charge, this is a great option for those looking to avoid fees. However, if you prefer funding your account with a credit or debit card, be aware that there is a 3% fee.
Etoro supports a few more fiat currencies in USD, EUR, GBP and AUD and some additional deposit methods including bank transfer, PayPal, Skrill, Neteller, and debit card. Conversion fee may however be applied as deposits are conducted in $.
One of the great things about eToro is that all fiat deposits are completely free of charge. For those looking for a convenient and cost-effective way to deposit funds, Etoro is definitely a good option.
When it comes to withdrawing funds from exchanges, it's important to know the available methods fees. Let's take a look to see what each exchange offers in terms of withdrawals.
Bittrex offers fiat withdrawals via Wire, ACH, SEPA, and Debit Card. Wire withdrawals come with a $25 fee, while ACH and SEPA withdrawals are free of charge.
For those that want to withdraw their crypto from Bittrex, they will have to pay a fee of 0.01 ETH to withdraw Ethereum, a 0.008 SOL withdrawal fee for Solana and a $2.6 USDT fee for Tether USD.
On the other hand, Etoro offers fiat withdrawal methods to Bank Accounts or Debit Cards. The exchange charges a flat $5 withdrawal fee, and if you're using a currency other than USD, you may be subject to conversion fees.
Bittrex and eToro are each have their different strengths and weaknesses. While Bittrex prioritizes security and regulatory compliance, eToro focuses on user-friendly interfaces, wide range of financial products and social trading features.
The main strength of Bittrex is that it supports over 400 cryptocurrencies for buying and selling. Besides that, we must admit that we did not find a lot of things to like about this exchange.
The interface is super basic and boring and Bittrex does not offer many products besides spot trading.
Staking is available but only for Cardano and the trading fees in general are quite high at 0.75%. We suspect these reasons are why the exchange has not managed to really grow it's userbase.
To contrast this with eToro which offers a diverse range of over 3,000 financial instruments including cryptocurrencies, stocks and ETFs.
eToro has managed to grow to 30 million users by making trading of crypto, stocks etc very easy for your average day user.
In terms of trading fees, while eToro charges a 1% fee for trading cryptocurrencies, other product such as stocks come with a 0% commission.
eToro has clear unique selling points that differentiates it from other players on the market. Unfortunately, the same can not be said for Bittrex.
Disclaimer
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured.
Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance.
luckyaltcoin.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
Signup to eToro and Get $10 Bonus (US Only) when you deposit $100! eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
