eToro Enables Crypto-to-Cash in UK & Europe

eToro is a well-known online broker. In a few days, it added a new service for its UK and European clients. They can now transfer any crypto they hold in other exchanges, brokers, or crypto wallets to their eToro Crypto Wallet. Here, they can swap their crypto to cash.

This allows them to trade and invest in other asset classes on eToro. However, they can also cash out. A new crypto-to-cash service. So, let’s take a closer look at what eToro’s crypto-to-cash is all about.

What Is eToro’s Crypto-to-Cash All About?

This Crypto-to-Cash option on eToro is available to eligible eToro holders. Currently, it’s available on the European market. More precisely, in the UK and mainland Europe. It seems that eToro restricts this service to Bitcoin and Ethereum. There’s no mention of any other crypto assets in their press release.

In case you hold any of these two coins, you can transfer them to your eToro Crypto Wallet. This can be from other crypto wallets or other exchanges. With your respective GBP or EUR account, you can convert them into cash. A convenient crypto-to-cash option. eToro offers other asset classes in which you can invest your new cash. However, you can also use this as an off-ramp option.  Alternatively, you can leave it in your account and spend it directly from your account. UK users also have the option to use it on their eToro debit card.

eToro Rolls Out Crypto Swap for Club Members—with Fees

The feature will roll out step-by-step to eToro Club members. Diamond Club members in both territories will get the first heads-up. Be aware that the swap doesn’t come free. Fees range between 0.6% and 1%. However, it’s another step forward for crypto and towards mass adoption.

It’s also worth pointing out that eToro and other similar platforms, like exchanges, are custodial. You are not in charge of your assets. Remember, not your keys, not your assets. eToro has been around since 2007. It is now available in 75 countries and has some 38 million users. Besides crypto, eToro also offers plenty of traditional investment options.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

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