Why I Stopped Using eToro Cryptocurrency Trading ( eToro Crypto Review ) reviews
If you are planning to use eToro cryptocurrency trading, then you might want to watch this video first. There a few things that are enough to make me stay away from it.
Binance : https://jasonfoong.com/binance
Start eToro Copy Trading: https://jasonfoong.com/etoro2
I am a big fan of eToro ( I love their copy trading feature ! )and i am also a big fan of crypto. But i am just not a fan of using eToro cryptocurrency trading because of the few aspects that i will be telling you in this video.
Let’s go through what I will be covering:.
00:00 Introduction
00:43 Not Owning The Actual Coin
05:55 Limitations of eToro Cryptocurrency Trading.
09:23 Who Should Use eToro Cryptocurrency Trading?
Part 1: eToro CFD vs Actual Coin ( Not Owning The Actual Coin )
eToro is licensed under several different jurisdictions, They have UK, Seychelles, and Australia. Depending on which license your account is under. You get to different treatment.
If your account is under UK or Europe, then your trades are secured with real assets. Which means eToro will buy the real cryptocurrency on your behalf. Although this is a better option. My account however is under Australia, therefore all my crypto trades is CFD. It means i cannot own the actual coin.
Why do I insist on owning the actual coin?
1) Being the sole owner and keeping it for however long i want ,doing whatever i want with it. I am in control.
2) A digital currency. This is one of the ways that blockchain is changing the game. It is changing the traditional way of sending money.
3) Supporting the project. If you don’t know, a lot of cryptocurrency actually has a mission behind it
Part 2: Limitations of eToro Cryptocurrency Trading.
1) Withdrawal. If you are planning to transfer your coins to other platforms, it might not be so user-friendly. There is a wait time to withdraw your times and you need to wait for eToro to process your request.
2) Staking. Depending on your account tier, there is a different treatment on rewards you get. A bronze account that has below $5000, will get 75% of rewards. A silver account that has above $5000 will get 85%. To get 95% of rewards, you need to have an account worth $50,000. The problem is that staking is a really simple process and can be done easily on an external platform and you can get the full rewards.
Part 3: Who Should Use eToro Cryptocurrency Trading
Person Type 1 – You just want to make money from price speculation and not going through too much hassle of setting things up. And you just want to buy-sell with just a click of a button. This is not wrong. It just depends on your trading style.
Person Type 2 – You want to have your entire portfolio in one place. Since eToro offers more than cryptocurrency, you can build up your stocks and forex portfolio on one platform for convenience.
Let me know what you think in the comments below.
Disclaimer :
This YouTube channel will occasionally contain affiliate links, which means I receive a small commission on a purchase without additional cost to you, if you buy something through my links. Past performance is not an indication of future results. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro
#etorocrypto #etorocryptocurrencytrading #etorocryptocurrency
50 reviews for Why I Stopped Using eToro Cryptocurrency Trading ( eToro Crypto Review ) reviews
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Chris C. –
Very informative. I’m one of those that didn’t realize how hard it is to get your coin out until recently. Doge for example cannot be removed even to their wallet. So I have to sell all the good positions I have, take the cash and buy in on say binance but now at the going rate. And their customer service is non existent. I subscribed, looking forward to more videos. Cheers!
Calm Healing Nature –
wich one you recomended fasy buying crypto no id verify
España actualiza –
Keep it up bro u just got sub, 🇲🇦
Dean Carter –
I have no issues with Etoro
jay chow –
I think if you earn lots of money and withdrawal then tell us
maInsTecH DIA –
Ur explaination is so helpful..thank you
shiva adhikari –
I don't what's wrong with on etoro.
They have wallet .
It takes 5 days.
Bruh everything is upgrade.
Now how is your portfolio.
I hope you are on safe hand (binance)
CL D –
If you are in the UK and with the money card, no hassle at all. Trade Monday, gain profit by Friday without hassle😁, pays the bill!
Rob Frysinger –
super, intelligent and clear…..thank you
Joseph Jardeliza –
Blessed Morning,what is the best company that you suggest sir..thank u😊
wood –
Following the GameStop short squeeze, retail investors on Reddit claimed that eToro changed the terms of service to enforce a stop-loss on non-leveraged buy positions that did not have it enabled. While stop-loss is designed to reduce risks on the volatile markets, the enforcement without notice allegedly caused losses for numerous clients that had their positions closed on unfavorable terms. Moreover, these Redditors claimed, by selling such a large volume, eToro had brought down the price of shares of GameStop and other companies favored by retail investors
Sonia NG –
I am a bit of skeptic, but know a lot of aspects about BTC. So, let's make few things straight – BTC is an investment asset – like gold, it's scarce, but it's easier to acquire it and big players like pay-pal and grayscale are holding it, same with a lot of banking institutions, hedge funds and masses of people.ytSelf-host wallet btc owner whales have a hard time selling it without doing KYC and in some cases, this can wreck them financially. People lose access to their btc wallets which makes that btc frozen for all time. The Hype and FOMO is on the rise and most people only buy and hold with btc. I mean you have to understand that normal stock market fundamentals don't apply here. It's not a 2017 – 2018 scenario. The regulation added to BTC can actually even make it more desirable(although have a minus). Basically, anything that could stop the mooning of btc imo would be extreme regulation restrictions and also better investment opportunities discovered by btc owners. However , it’s is best advice you find a working strategy/daily signals that works well in other to accumulate and grow a very strong portfolio ahead. I have been trading with Rawlings Smith daily signals and strategy, him guidance makes trading less stressful and more profit despite the recent fluctuations. I was able to easily increase my portfolio in just 4weeks of trading with Rawlings Smith daily signals growing 1.5 BTC to 6.7 BTC. His daily signals are very accurate and yields a great positive return on investment and is available to give assistance to anyone who love crypto trading,You can reach Rawlings on 🆃🅴🅻🅴🅶🆁🅰🅼👉Rawlingsmith >OrR What'🅰🅿🅿✙ 447868765279
Sonia NG –
I am a bit of skeptic, but know a lot of aspects about BTC. So, let's make few things straight – BTC is an investment asset – like gold, it's scarce, but it's easier to acquire it and big players like pay-pal and grayscale are holding it, same with a lot of banking institutions, hedge funds and masses of people.ytSelf-host wallet btc owner whales have a hard time selling it without doing KYC and in some cases, this can wreck them financially. People lose access to their btc wallets which makes that btc frozen for all time. The Hype and FOMO is on the rise and most people only buy and hold with btc. I mean you have to understand that normal stock market fundamentals don't apply here. It's not a 2017 – 2018 scenario. The regulation added to BTC can actually even make it more desirable(although have a minus). Basically, anything that could stop the mooning of btc imo would be extreme regulation restrictions and also better investment opportunities discovered by btc owners. However , it’s is best advice you find a working strategy/daily signals that works well in other to accumulate and grow a very strong portfolio ahead. I have been trading with Rawlings Smith daily signals and strategy, him guidance makes trading less stressful and more profit despite the recent fluctuations. I was able to easily increase my portfolio in just 4weeks of trading with Rawlings Smith daily signals growing 1.5 BTC to 6.7 BTC. His daily signals are very accurate and yields a great positive return on investment and is available to give assistance to anyone who love crypto trading,You can reach Rawlings on 🆃🅴🅻🅴🅶🆁🅰🅼👉Rawlingsmith >OrR What'🅰🅿🅿✙ 447868765279
Lisa D. –
https://youtu.be/y_594cO1N34
G T –
Dear friends they stole 1000$ from me and they say yes your money its safe here with us but they never return it and they block me, be carefull from liers! it is very frustrating they not even provide there adress or contact information, so my lawyer can contact them!
hohoho bobobo –
Fk etoro
hohoho bobobo –
have to wait 60 days.. thats robbery
KC Chung –
I'm writing from Singapore. I'm currently having major issue with withdrawing from eToro. It has been a month now and no one from eToro are able to help solve them issue. I'm still exploring option of getting my investment out. Please be careful if you are from Singapore, i highly discourage you from investing with eToro. Anyone facing this issue please advice. I'm unable to to withdraw using wire transfer.
Captain Las –
I should have seen your Video before I stepped into the EToro Trap. Thank you
Modupe Olukanni –
So what do you personally trade on eToro?
candyblow –
Jason, what other platforms do you suggest to get high yield rewards? I thought 85% was very good already… haha
KEY LIFE PRODUCTIONS –
I have a Android phone Stylo 6 can I steak cryptocurrency on my phone from etoro ?
goldytango –
Thank you so much! I recently stopped trade on my one crypto coin and can't find it anywhere on my wallet, although the value reflected in my wallet. I was wondering where it went as I wanted to transfer it to another wallet. This explains it all. So does this mean i have to wait for 5 days for it to appear on my wallet?
juan dela cruz –
Very nice. Thank you!
dani 1980 –
Big like 👍
kimmy –
Really helpful video, although I alr invest more than 1k> ada coin in etoro. Gonna change to another platform soon. Thanks
Jadderson Patter –
eToro is terrible. It allows deposits from my debitcard but cant withdraw into it, cant add any additional withdrawal options either. It is a one way trap. I have been in contact with the customer service for a week without any solution.
Yozy –
excellent tutorial…Thank you
Mar Lon –
what platform you are using?
JK Trkng –
Ps. My account states etoro 🇺🇸
JK Trkng –
Help! Does anyone know why Etoro continues monthly purchases in my behalf? I never authorized that. Small quantities, but nonetheless not authorized by me.
JK Trkng –
I hate Etoro.
I own a small amount of Cardano. How can I move it to a hard wallet? Please help?
Lily Rojas –
Thank you so much! Honestly, you have saved my axxxs… Which Exchanges do you use? Which ones do you recommend? CEX or DEX? I will appreciate your answer. Thanks!
The Teacher Investor –
Nice. Very informative. Thank you.
Mud Yuppy –
Im glad im in the uk.. they buy the coin. Ive brought 7 amounts and the want to charge me 7 times to transfer to their wallet @£60 a time. Its cheaper to sell abd re buy in a safe wallet.. great video thank you. I will buy coins in a walket and wind down etorro
James –
does binance give a private key (allow external wallets)
John Villahermosa –
Hi! I have a question.. if etoro goes bust, how much does they return to their clients like in Philippines or South east asia.. i saw in their insurance thay they only cover europe and australia… Are we covered also in South east asia?
Gaelic Sports –
It's a (TRAP – Prison) for your either money "under €30" or Crypto, hopefully I will be in a posistion to put my hand on my crypto and money after 60 days. they are No.1 in advertising but they never mention how bad it is. 60 days left 🙁
Wolfsmaid –
thank you very much for this input. as a stupid blonde girl, it was really helpful to have someone with brains have a look into it. 😉
Henrik Eckermann –
is this still an issue? In my account it states: "etoro (Europe) Ltd, a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySec) under the license xxxxx"
J R –
CFDs are not stakeable 😡good video
Ron W –
mine has US, USA written on it under profile
Jacob Saw –
What the fuck happened to your teeth
Dan –
EToro has HUUUGE spreads for crypto. You should only have long term movements or extreme moves in mind if trading crypto on EToro.
Stephen C –
This firm, even though it is Irish which I am is a pile of crap, wake up and stop believing comments on back handed bloggers throughout the internet with eToro and all the other big players pay to shut down platforms like Binance. No Commission rubbish talk, IT IS TAKEN IN THE SPREAD, trade on the actual market using a ladder or DOM, the price you offer and sell is the market, not some rubbish offered on these platforms.
dobrin g –
Great review, Jason…
Maurice O’Ray II –
Good luck getting your money back when you go to make a withdrawal.
Bur Zum –
All cool. Esecially with gold grills xD
Black Ninja –
Scam as fxck
Jjampong TV –
Hi, I would like to ask regarding crypto in etoro. My question is, I invested on xrp unfortunatley it goes down and became -50%, what will happen if became -100% it does mean that I will lost my money I invested?