etoro bull

Etoro for Crypto - Bad? Or plain Terrible?


I previously wrote a bit about my use of Etoro to make a few percent here and there by trading with small gains.  It has proven fruitful but is Etoro worth it? It depends, of course, on one's perspective.

Etoro offers $50 to sign up, deposit, and make a trade.  https://etoro.tw./2MkgQIF

I think for most Crypto enthusiasts that's probably where the allure of Etoro screeches to a halt. Listed below are the low-lights of my Etoro experience.

-Users of Etoro hold positions on crypto trades but not actually the crypto.

-Withdrawals seem to be slow AT BEST.  I have made multiple withdrawals with less that 20% of them occurring within a time-frame I would deem acceptable, efficient, or quick.  Once again it is a matter of perspective.

-Closing trades on some occasions has lagged or appears to get stuck.  The position closures do occur but the hangup in verification is a bit concerning if you're attempting to make a few percent during a wild fluctuation.

-The spreads that are charged, even though Etoro is supposedly fee free, are unpredictable and vary wildly.  I haven't been able to make sense of them.

-Customer service.  Hmm.  After starting a ticket because I am not receiving my 2FA codes, I received an automated response that it would be up to seven days before I receive a response.  Wow. No access for up to seven days for an issue that is undoubtedly on the Etoro end.

-If a trader has no activity for a year then there is a $10 monthly fee to keep the account.

The format may work for some.  I have had success making trades, so I can't complain about that, but otherwise I'm not sold on Etoro when so many other options are available.

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What am I doing with my Crypto?

I've been sampling and buying various Crypto over the last year and I'm excited for the opportunity to learn and share this experience.

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