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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