Topic: Bitcoin on eToro (Read 842 times)

MY etoro experience:

• etoro account opened, money deposited by paypal. "Bought" some netflix stock.

• after a few days the account locked down and demanded i upload ID. wouldn't let me trade/withdraw/anything.

• Site's ID upload didn't work, nor did help section.

• Contacted etoro help. They didn't help much over email, and though i stated not to use my phone,they called my phone.

• Customer services person over phone suggested i insecurely email scans of government-issued ID, which I wasn't gonna do. I remind them that they're legally prohibited from trading on behalf of anyone who they can't prove to be over 18 in the UK, so they can't lawfully take a deposit before seeing a user's ID. More to the point, my passport is out of date so I didn't have enough ID at the time.

• This meant my account was stuck holding netflix and I couldn't change that before renewing my passport or generating some other form of ID. If i was holding some less successful stock, that might have wiped out my money. I explained this, and how it meant I wanted my account cancelled and my money withdrawn.

• I posted about this experience on these boards in etoro's bitcoin announce thread, and was messaged that they'd look into it.

• They tried to call me 8 more times while I was working but I wanted to use email, not phone (so I had logs, perhaps to paste here). I let it ring, but they didn't try my email.

• They DID cancel my account and informed me, but rather than paying me the account balance, they only paypalled me the amount I first deposited, minus 5$ for fees.

In short: I paid 5 bucks to let them borrow my money for a month.

And to be slightly dissed by an american over the phone who seemingly didn't believe that a brit can exist without a current passport or driving license.

...and to be told this:


Sorry, etoro. Your service may be legit and real to moneyed users with ID who don't mind risking it in insecure transmissions, but from my experience being locked out of my account, for all I can tell no trading occurs there and it may just be a big operation to sucker folks into that $5 processing fee.

I mean, that referral $$ that etoro is giving people to spam links around has got to come from somewhere. Some of it is mine.

Long term Etoro user here. The copytrading is one of the most brilliant ideas ever. In theory. Really guys, the execution is EXTREMELY bad. Etoro is literally the buggiest website I've ever encountered (and I'm a software developer). I lost lots and lots of money due to trades that were closed for me, but not for the person I was copying, the site being unreachable, stop loss that couldn't be edited, etc. etc.

The website is really really really crap. Customer support is... fair enough. But they certainly don't test their software before they release it.

Bitcoin on Etoro works with CFDs, which is illegal in the US. That's why it won't work there.

If anyone has any questions about Etoro, please let me know.

Me too, but the intro video to etoro made it look so fun. Lol

I prefer to take possession of my investments when possible. Bitcoin makes this step extremely easy, so I see no reason to use something like eToro.

Don't get me wrong, for someone who simply wants to gamble with paper Bitcoins, eToro sounds great.

Do you actively use Etoro?   What other sorts of investments can you make on there besides bitcoin?   I don't see what advantage you would have in getting bitcoin through etoro versus just buying yourself through an exchange or service like coinbase...

i watched the video on what etoro is, and I like how you can see other people's investment strategies...that is interesting to me.   Would you recommend etoro, and how easy is it to use?

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