Benefits of Trading Cryptocurrencies on eToro, Long-Time Trader Explains

Traders and investors have always struggled to deal with customer relations of bitcoin exchanges and digital currency trading platforms. Most notably, over the past few years, many users of Coinbase have expressed their concerns over the company’s customer service, due to the lack of real-time support and phone line for urgent support tickets.

Regional bitcoin exchanges including South Korea’s Bithumb are well known for their efficient and practical customer service departments. Bithumb for instance, the largest bitcoin exchange in South Korea and the fifth largest bitcoin exchange in the world, has a large team of in-house customer support employees that maintain a 24/7 phone line for real-time access.

Long time traders and cryptocurrency investors have praised customer service of eToro, a social trading platform which supports bitcoin and cryptocurrencies, used by millions of active users, for offering 24/7 customer service and real-time phone support line.

“Dedicated manager I can call anytime. If I got an issue, I can get a hold of someone to help me 24/7. On most exchanges, you’ll have to wait for a couple weeks (if lucky) to get an answer,” a long-time trader on eToro stated.

More to that, he emphasized that eToro as a regulated business based in Israel, UK and many other countries allow clients to visit their headquarters and meet the operators of the trading platform and business. According to the trader and many other investors, such transparency has granted eToro clients confidence in the legitimacy of the firm.

Perhaps most importantly, eToro has an efficient Know Your Customer (KYC) and Anti-Money Laundering (AML) system in place that does not complicate withdrawals for bank account holders. In most countries, including South Korea and China, investors are required to submit various documents and authorizations from banks to be licensed to trade over $100,000 on a daily basis.

“I can have my money in my bank account at a heartbeat, no matter if I withdraw $100,000 or $1 million. Best of luck getting such sums from an exchange or trusting one with this sum. Most people that use exchanges are not able to invest or withdraw large sums of money,” said a long-time trader of eToro.

For the most part, the trader that operates under the online identity Petrec is right. Most investors that hope to obtain large amounts of bitcoin and other cryptocurrencies rely on daily auctions held by regulated exchanges such as Gemini. It quickly becomes inefficient in terms of KYC and AML policies when investors attempt to place multi-million dollar orders on exchanges.

With the introduction of the Crypto CopyFund, a web-based cryptocurrency-focused hedge fund, eToro is becoming one of the most user and investor-friendly trading platforms in the entire cryptocurrency market.

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Source: Newsbtc