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Contents

eToro Review: The Social Trading & Investment Platform

While eToro is a key player in the world of CFDs and cryptocurrency trading, the company also offers a lot more than this now. They have led the fintech revolution for over a decade and built up a reputation as the leading social trading platform in the world.

The company began as a general trading platform but has added cryptocurrency and other trading instruments to keep up with changing markets and growing demands. They are one of the pioneers in adding social features to their platform in the form of CopyTrading and CopyPortfolios.

Today, there are over 6 million users registered on eToro, securing it’s status as an industry leader – Read on for our comprehensive review.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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 at a Glance

Broker eToro
Regulation FCA (UK), ASIC (Australia), CySEC (Cyprus)
Minium Initial Deposit
$200
Demo Account
Yes
Asset Coverage CFDs, ETFs, Forex, Cryptocurrency, Shares, Commodities, Indices
Leverage 20:1
Trading Platforms Proprietary Web, Mobile Apps

What Is the History of eToro?

eToro actually began back in 2007 with three entrepreneurs who wanted to make trading more accessible for every day users.

At the same time, they wanted to reduce dependency on banks and other traditional financial institutions. eToro started off as an online trading platform with graphs representing financial instruments and an intuitive interface.

In 2009, eToro launched the trading platform, WebTrader, with a range of professional tools for traders of all skill levels.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • A big step forward came in 2020 with OpenBook, the first social trading platform in the world. This included the then-new CopyTrader feature, which let anyone copy successful traders.
  • In 2020, eToro added stocks to its other assets, like currencies and commodities.
  • The eToro mobile app launched in 2020 for both Android and Apple, expanding the reach of the platform. This is also when eToro dipped into crypto, making it possible to trade Bitcoin via CFDs.
  • In 2020, the platform updated the interface for an even more innovative and intuitive experience.
  • In 2020, it added CopyPortfolio, managed portfolios that bundle various assets or top traders within a market strategy.
  • In January of 2020, eToro expanded its reach in the world of cryptocurrency by adding support for trading crypto to the platform. It began with a range of popular cryptocurrencies, including Ethereum, Litecoin, and XRP.
  • In 2020 they launched eToroX, a full crypto to crypto exchange.

Which Cryptocurrencies Does eToro Support?

Compared to other platforms, the options for supported cryptocurrencies on eToro are relatively limited.

This is a result of its nature as a general trading platform as opposed to one focused solely on cryptocurrency.

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Even so, you can short or own the most popular cryptocurrencies. Supported options include Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and Ripple.

Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk. Indicative prices; current market price is shown on the eToro trading platform

What Sets eToro Apart from Other Platforms?

One of the biggest ways that eToro stands out from other platforms is the sheer number of investment and trading options available.

Thanks to the numerous ways to invest and trade, users can take advantage of the same platform for their cryptocurrency trading needs as for traditional assets.

The social elements of eToro also make it unique. An example is CopyPortfolios, which is a long-term thematic investment in the form of a managed portfolio bundling assets and top traders with a predetermined strategy. The ability to copy the investments of successful traders is also innovative, as is the Popular Investor program.

What Trading Tools Does eToro Offer?

This platform aims to educate traders as well as provide them with a platform for investment.

Upon registration, eToro users get “virtual-money accounts” with $100,000 so they can work on strategies and skills before investing any real money.

It also provides multiple other tools to help with actual trading, such as an economic calendar. Simply input the dates and time zone you want to look at and the assets you trade. The calendar will then display how events are likely to impact your assets.

Additionally, it provides regular market analyses that include great detail as well as quick overviews, so you can utilize as much or as little information as you want.

Every asset which is tradable on the platform has it’s own page where you can view detailed information, news, charts and research.

What Are CFDs?

A CFD, or contract for difference, is a type of derivative trading. With a CFD, investors can speculate on whether fast-moving global financial markets will rise or fall. This can be done with cryptocurrencies as well as indices, shares, fiat currencies, treasuries, and commodities.

The important thing to note about CFD trading is that you will not be buying or selling the asset underlying it, in this case, cryptocurrency. Instead, you sell or buy a certain number of units for that instrument based on your prediction of if the price will rise or fall.

When the instrument moves in your favor, you get multiples of the existing CFD units you already sold or bought. You make a loss for every point it moves against you. CFDs require caution since it is possible for losses to exceed deposits.

You can read more about CFDs in our Beginner’s Guide here.

Highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.

On eToro, CFD trading and cryptocurrency go hand in hand. As mentioned earlier, eToro first entered the world of cryptocurrency by offering Bitcoin trading via CFDs in 2020, making it one of the earliest players in the world of crypto investments.

CFD trading continues to play a key role on eToro since many of the trades involving crypto are still CFDs instead of dealing with the actual asset.

Starting on Sept. 3, 2020, those who invested in the BUY position for crypto on eToro actually own the asset underlying the transaction. Before this, they owned a CFD, not the asset. Additionally, eToro offers actual cryptocurrency trading. If you choose to open short or SELL positions for cryptocurrencies on eToro, this is still a CFD position.

What Are CopyPortfolios?

CopyPortfolios were added to the eToro platform last year. This feature is available for cryptocurrency trading as well as traditional fiat trades. This creates a single tradeable asset that is made up of carefully selected assets or traders of a predetermined strategy.

The eToro Investment Committee composes the CopyPortfolios and rebalances them periodically. There are several cryptocurrency CopyPortfolios available for investors to choose from.

One of these is simply called “Cryptocurrency” and delivers exposure to Ethereum and Bitcoin.

In the cryptocurrency bull run of May 2020, the fund had a 66 percent increase. Within the first three months, that fund generated over 125 percent in profits. Another option is called “Crypto CopyPortfolio.”

This is a more recent CopyPortfolio made up of a balanced crypto portfolio containing Bitcoin, Ethereum, Ethereum Classic, Litecoin, Dash, and Ripple.

What Is CopyTrading?

Another exciting option on eToro that you can use for crypto and fiat investments is CopyTrading.

Copy trading is an innovation that allows users to look through the track record of other traders and copy them, which means they will mirror their trades.

Traders have the ability to become “Popular Investors” if they have a low-risk score and deliver consistent returns.

They then receive rewards for sharing wisdom. By taking advantage of CopyTrading and copying an investor who includes cryptocurrency in your portfolio, you can get exposure to the market without having to do too much research yourself.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. This is not investment advice.

Who Can Use eToro?

eToro can be used by anyone, as long as it is legal to do so in their country. eToro keeps a running list of countries where the platform is blocked due to changes in the regulations that conflict with trading laws.

This means that those in the United States, Canada, Cuba, Japan, North Korea, Iran, Syria, Turkey, Serbia, Albania, and Sudan cannot legally use eToro.

Does eToro Have a Minimum Trade Size?

eToro prides itself on offering tools that investors and traders of all levels of experience can take advantage of, so it tries to limit the use of minimum trades.

  • Even so, you must have $200 to participate in CopyTrading and make a minimum investment of $5,000 for CopyPortfolios.
  • The minimum quantities for manual positions are based on the instrument. For currencies (such as cryptocurrencies) and commodities, it is just $25.
  • For stocks, it is $50.
  • Finally, for ETFs and indices, it is $200.

For those who registered on April 2, 2020, or after, the size of a minimum trade depends on exposure, in the form of leverage times the invested amount. For cryptocurrencies, this total minimum amount is $200.

The minimum for ETFs and stocks is $500, for commodities is $2,500, and for indices and Forex is $5,000.

As an example of this exposure-related policy, if you open a crypto trade with a leverage of x1, you must invest at least $200. If, however, you chose to invest $100, you must have a minimum leverage of x2.

eToro Fees

As an exchange, eToro makes its profits from the various fees that it charges. On eToro, no fees are charged when opening a position, instead generating the fee based on the spread. It has a list of minimum spreads for each cryptocurrency, and those rates are not guaranteed.

The team points out that the spread can vary based on liquidity and market conditions.

The daily break spreads are as follows: 1.5 percent for BTC, 5 percent for BCH, 3 percent for DASH, 2 percent for Ethereum, 5 percent for ETC, 3 percent for LTC, 5 percent for NEO, 5 percent for XLM, and 3 percent for XRP.

Instrument Market Hours Daily Break Spread SELL BUY
1.5 % -0.471233 -0.471233
3 % -0.039452 0
2 % -0.036712 -0.036712
5 % -0.001726 0
3 % -0.006575 0
5 % -0.012383562 0
5 % -0.0000416 0
3 % -0.000022 0

Because of the nature of cryptocurrency trading, it is available 24/7, and there are no fees for overnight or weekend trades. Instead, eToro only charges fees for users who hold leveraged Ethereum or BTC positions or for shorting cryptocurrencies. The team does point out that the various fees are subject to change.

eToro Customer Reviews & Reputation

Users and reviewers of the platform generally agree that eToro is very easy to use. It was designed to be intuitive, so those without trading experience could get the information they need and make trades.

You can use the platform on PCs, Macs, Android, or iOS devices, always taking advantage of its intuitive functionality and readily displayed information regarding cryptocurrencies and other assets via graphs and more.

In general eToro has a good reputation online, the company is large and well established so you can be sure your funds are safe there. Complaints from people online are generally about traders they have copied not performing as well as they thought they would.

This isn’t the fault of the traders themselves, trading is a complicated business as everyone experiences losses as well as gains.

Other issues revolve around the fact that eToro advertises heavily that you can buy Cryptos with them, when in fact you don’t actually hold the assets themselves. This is the same for all brokers of this type, if you want to physically own the crypto asset then you will need to purchase them on an exchange that offers this, like Coinbase or Binance.

How Do You Deposit and Withdraw Money on eToro?

There are multiple deposit methods for eToro, so you can choose the one that best meets your needs, keeping in mind that different methods have varying minimum deposits.

You can choose to deposit via wire transfers, bank transfers, Visa, MasterCard, NETELLER, PayPal, Yandex, Webmoney UK, Skrill, and others.

To withdraw, you must fill out a form and then typically receive the money via PayPal, a bank transfer, or your credit or debit card. To withdraw, you will need a copy of your signature, color passport copy, and proof of address.

Cryptocurrency Expansion

eToro has recently added approximately 35 new fiat pairs to its platform which sees a total of around 44 trading pairs available to its users. The new pairs cover a number of different regions and currencies and are aimed at the inhabitants of countries such as Canada, Australia, and Japan. The updated pairs are as follows:

  • Australia BTC/AUD, ETH/AUD, XRP/AUD, ETC/AUD, BCH/AUD, LTC/AUD,
  • Canada BTC/CAD, ETH/CAD, XRP/CAD, ETC/CAD, BCH/CAD, LTC/CAD
  • Japan ETC/JPY, BCH/JPY, LTC/JPY
  • New Zealand BTC/NZD, BCH/NZD, ETH/NZD, ETC/NZD, LTC/NZD XRP/NZD
  • Switzerland BTC/CHF, ETH/CHF, XRP/CHF, LTC/CHF, BCH/CHF, ETC/CHF
  • United Kingdom BCH/GBP, ETC/GBP, LTC/GBP, XRP/GBP
  • The EU BCH/EUR, ETC/EUR, LTC/EUR, XRP/EUR

Furthermore, eToro has officially announced a cryptocurrency focused trading platform aimed at customers in the U.S., alongside a crypto wallet, and integrated mobile app which allows cryptocurrency purchases by credit card.

The service was unveiled in May and enables U.S. customers from 32 states and territories to trade a growing number of different cryptocurrencies including popular assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Dash (DASH), Neo (NEO), and EOS.

At the same time, the multi-signature crypto wallet supports six cryptocurrencies, namely Bitcoin (BTC), Bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), Stellar (XLM) and XRP with additional currencies set to be added in the future.

The team have also announced that their cryptocurrency mobile wallet has been made available for both iOS and Android device users.

Existing eToro users are currently able to log into the wallet directly in order to transact and store cryptocurrencies, while in-wallet asset conversion is also possible with just few clicks, additionally, funds can also be received and sent out by sharing the wallet address or using a QR code.

The eToro Wallet allows users to:

  • Manage and store multiple cryptocurrencies
  • Exchange crypto for crypto
  • Transfer cryptos from their eToro accounts (limited to certain coins and to Gold accounts and above)

How to Buy Crypto with a Credit Card

eToro customers can also buy cryptocurrencies directly from the eToro wallet by using a credit card. The investment platform has partnered with well renowned third-party payment provider Simplex, with allows eToro to integrate Visa and MasterCard payments.

Here’s how to buy some cryptocurrency using your credit card:

  • Open your eToro Wallet
  • Click on the “BUY CRYPTO” section of the wallet and select your preferred coin and amount that you would like to buy
  • Enter your payment details into Simplex’s billing form.

Upon successfully completing the process, your purchased coins will be transferred to your eToro wallet.

It’s important to note that Simplex can choose to immediately approve or decline your request, as well as request further documentation or proof of identity. These may include official government issued documentation or a selfie photo. This service is also subject to the following fees and limitations.

eToro Wallet Fees

Fiat to Crypto Conversion Fees

  • eToroX fee 1%
  • Simplex fee 4%
Currency Min transaction Max transaction Max / Day Max / Month
GBP £96 £7,350 £14,700 £36,750
EUR €112 €8,624 €17,248 €43,120
USD $125 $10,000 $20,000 $50,000

The actual market rate is determined by eToroX once the transaction is approved by Simplex, and blockchain fees are deducted from the crypto purchased in addition to the above fees and are applied to every crypto transaction.

It’s worth noting that additional fees may also be accrued as a result of charges applied by your bank or credit card issuer.

These may include cash advance or foreign transaction fees to your card transactions, and any transactions carried out will appear on your credit card or banking statement as eToroX LTD, with the credit card descriptor being Simplex_eToroX, however, a confirmation email will also be sent Simplex.

Any pending payment may be cancelled, with customers advised to open a ticket directly on the Simplex website or to use the Live Chat feature on the bottom right side of the Simplex.com website.

It’s also important to note that once a payment has been approved it can’t be cancelled. The approval process is actually authorised by Simplex, and as a result, questions about the transaction process should be first directed to the Simplex customer service team. However, the eToro Customer Service team is also available to deal with any issues.

eToroX Review

eToroX, the blockchain subsidiary of eToro’s more traditional investing platform has officially launched in Gibraltar and is being regulated by the Gibraltar Financial Services Commission (GFSC). The exchange aims to cater to specialist crypto traders and incorporate many of the features found on their social trading platform.

The crypto to crypto exchange features an intuitive user interface, a mobile wallet app, is regulatory compliant, and makes use of cutting edge security protocols, and aims to provide crypto enthusiasts in a number of region with enhanced trading options.

Supported Currencies

The platform originally launched with a limited number of cryptocurrencies, however, 16 digital assets and 37 crypto-to-fiat pairs are currently available, and eToroX also incorporates eight branded stablecoins that allow traders to protect themselves from the volatility of the market without having to “cash out” into fiat.

The eToro-branded tokens pegged to fiat currencies include the eToro United States Dollar (USDEX), eToro Japanese Yen (JPYX), eToro Euro (EURX), eToro Pounds Sterling (GPBX), eToro Australian Dollar (AUDX), eToro Canadian Dollar (CADX), eToro New Zealand Dollar (NZDX), and the eToro Swiss Franc (CHFX).

In addition to these stablecurrencies, digital assets pegged to the price of commodities also feature and these include the GOLDX and SLVRX coins which respectively remain pegged to the prices of gold and silver.

The inclusion of these digital assets help eToroX to remain a crypto to crypto exchange, and more familiar cryptocurrencies such as Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Litecoin (LTC), Dash (DASH), and XRP also feature with more cryptocurrencies, stablecoins, and tokens scheduled to be added in the coming weeks.

Exchange Fees and Limits

eToroX doesn’t charge for deposits, and withdrawal fees are as follows:

Currency Quick withdraw limit Withdrawal fee
AUDX 50,000 3.75000
BCH 166 0.01000
BTC 10 0.00060
CADX 50,000 3.90000
CHFX 50,000 3.00000
DASH 400 0.02500
ETH 278 0.01700
EURX 45,000 2.65000
GBPX 40,000 2.30000
JPYX 5,500,000 330.00000
LTC 555 0.03300
NZDX 50,000 4.25000
USDEX 50,000 3.00000
XRP 166,667 8.50000

The exchange uses a tiered approach with regards to trading fees and the fees for all transactions (under a monthly volume of $100,000) are calculated according to Tier 1.

When the monthly trading volume grows beyond Tier 1 (over $100,000), a rebate will be applied during the first week of the month, and depending on the Tier Level, the rebate will be calculated based on the percentages in the following table.

  • The calculation will be done for each calendar month.
  • The rebate will be given in ETH
  • The Rebate will be given during the 1st week of the month.

eToroX also incorporates Maker and Taker fees, and the former are charged for trades where Maker orders add liquidity to the exchange, while Taker orders remove liquidity from the order book and incur their own charges.

As a result, Maker fees are lower in comparison due to these orders helping the exchange to remain liquid.

An example of a Maker trader order includes placing an order for pending execution, such as a limit order which is not automatically filled (partially or fully).

This action helps “make” the market and adds liquidity to the order book, while a Taker order can take the form of placing an immediate order that doesn’t go on the order book, by being filled partially or fully for example. This type of activity “takes” liquidity off of the order book.

How Secure is eToroX?

The exchange incorporates a number of cutting edge security protocols and these include data encryption by default, with a dedicated secured mechanism being used to prevent CSRF attacks.

In addition, the team have developed their own backlog analytic mechanism, based on N.N machine learning algorithm which assists in decision making, and incorporate multiple PT and Code reviews as well as a bug bounty program.

User accounts are further secured as all eToroX customers are required to complete Level 3 Identity Verification, and updating financial account information requires dual-process verification.

Furthermore, the platform makes use of two factor authentication (2FA), limits login attempts and uses whitelisting attribution models to prevent automation attacks.

More stringent security examples include all employee workstations being protected and verified based on multiple security mechanisms that include deception and traps, while the exchange’s custody solution is based on a three level military grade FIPS140 custodian process with multi separation between the different environments.

These include a warm environment, or process engine secured solution, a cold, secured isolated gap environment, and a deep, military grade secured isolated environment.

On top of this, eToro has been operating in Fintech since 2007 and has established regulated entities in Cyprus, UK, USA, Australia, and South Africa, with Gibraltar now becoming its sixth jurisdiction.

The Government of Gibraltar and the Gibraltar Financial Services Commission (GFSC) have set out regulations covering distributed ledger technology (DLT) businesses and eToroX operates under the framework administered by the GFSC.

The company is one of the more transparent in the cryptocurrency sector, and ETORO X LIMITED is a limited liability company incorporated in Gibraltar with a registration number 116348, and a registered office at 57/63 Line Wall Road, Gibraltar.

The company is authorized by the GFSC as a Distributed Ledger Technology Provider under the Financial Services (Investment and Fiduciary Services) Act, with a license number of FSC1333B.

Account Verification

Gibraltar’s regulatory requirements ensure that each new account must be verified as part of the registration process, and the exchange aims to simplify the verification process as much as possible.

After submitting all your information and uploading all the necessary documents, it can take up to two business days to verify your account.

New users are required to upload documents to help prove their identity and residence, and the following documentation will be asked for.

Proof of Identity (POI) Document

This POI document must include your name, date of birth, a clear photo, the issue date and expiry date of the document. Accepted forms of POI documents include a passport, a government-issued ID or driving license.

Proof of Identity and Selfie (POIS)

It’s necessary to upload a selfie that includes you holding the proof of identity document you have uploaded.

Proof of Address (POA) Document

The POA document must include your full name, address and issue date, and also feature the name or logo of the company that issued the document. The POA documents must be no older than 6 months and all four corners of the document must be visible.

Your POA document can be one of the following:

  • Bank Statement
  • Utility Bill: Electricity, Water or Gas
  • Tax: Council, State or Country Tax Bill

Financial Questionnaire

The last step in the verification process involves completing a financial questionnaire which covers your financial suitability for investing. The questionnaire is made up of nine 9 questions and takes just a few minutes to complete.

How beginner friendly in eToroX?

As with any trading platform, eToroX takes some getting used to, however, the learning curve will be steeper for anyone completely new to the world of cryptocurrency trading.

In order to try and offset this, the team have a Help Section which aims to answer the most common questions, and can be contacted by their [email protected] email address.

The team can also be contacted via their Twitter account, Telegram group, and Facebook page. In addition to the Help Section, eToroX also aims to educate its users and incorporates a Blockchain Academy and Glossary Section which include a range of clearly written guides and definitions that help users to both navigate the platform and gain a better understanding of blockchain technology.

Depending on your background, the more limited selection of trading pairs should make it easier for new entrants to the market to start trading on the platform, while the unique selection of stablecoins should also help newer traders to gain an understanding of how to make profitable trades when dealing with digital assets.

eToro Competitors

eToro is in competition with our similar brokers which have covered before, as follows:

Is eToro Safe?

To provide users with peace of mind, eToro takes steps to provide security. The company as a whole is fully regulated and adheres to guidelines of FCA and CySEC. To help traders make responsible decisions, it offers a range of tools for all experience levels, such as guidance for the first steps and risk-management features.

eToro also takes precautions to ensure the funds and personal information of clients are safe. Traditional funds remain secure in European banks of tier 1.

With all that in mind, you should remember that there are no regulations for cryptocurrencies. Because of this, if you engage in cryptocurrency trading or other crypto-related investments, there is no insurance from the investor compensation schemes within the UK or Cyprus.

The lack of regulations also means that if you have a complaint, you cannot file it with your financial ombudsman service.

Despite this, eToro takes pride in working to resolve issues as seamlessly as possible. In addition, there are numerous social platforms where you can register complaints, which may influence other users.

Conclusion

Although eToro focuses on more than just cryptocurrency trading, it is a useful platform for those who invest in cryptocurrency or trade it.

The additional features of eToro are what give it an edge, such as CopyPortfolios and various graphs. The platform is also highly intuitive, something that will appeal to everyone.

While eToro will not be ideal if you want to trade less-popular cryptocurrencies, it is an excellent option for those who only care about the major ones or who want to use the same platform for both fiat and crypto trades.

It’s also a great platform for trading regular stocks and Forex or just invest in pre-built portfolios in different industries.

This review was updated with the launch of eToroX, Cryptocurrency investors now have the ability to purchase and hold crypto assets directly. This is a great addition to the platform and positions them well within the space now.

We have used eToro for years now and have not had any problems with them, deposits and withdrawals are processed quickly and reliably so you won’t have to worry about the safety of your funds.

eToro have proven themselves trustworthy within the industry over many years and come highly recommend – we recommend you try them out.

Risk Warning: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

75% 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.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendations.

Honest Swagbucks Review – Scam or Legit? [Updated 2020]

Some of the links in this post may be from our partners. We only work with companies we trust and recommend. Learn how we make money.

Welcome to my full Swagbucks review! By the end, you should have a pretty good idea as to whether or not Swagbucks is right for you.

In this review, I’ll be going over:

  • What Swagbucks is, and how it works
  • Whether it’s a scam or legitimate
  • How to make money with Swagbucks
  • How much you can expect to earn
  • Swagbucks complaints
  • Pros and cons
  • My final verdict, and why I still prefer this earning method over Swagbucks

If you have any questions after reading through this review, feel free to place a comment below and I’ll get back to you shortly.

Since publishing this review, lots of people have added helpful comments. You may want to read through those before deciding whether or not to join Swagbucks.

Anyway, let’s get this started!

What is Swagbucks?

Swagbucks is a website that pays you to search the web, complete surveys, do various tasks, and more. Swagbucks is one of the most well-known and popular GPT (Get Paid To) websites, and has been around since 2008.

As you’ve probably seen already, there are a lot of Swagbucks reviews out there. Most claim it’s a legit site and not a scam, but let’s dive into exactly how it works, and my experience using it.

Website: www.swagbucks.com

Owners: Scott Dudelson, Josef Gorowitz, Ron Leshem and Eron Zehavi.

Price: Free

Rating: 91/100

How Does Swagbucks Work?

Swagbucks pays you for completing certain activities on their website (I’ll describe these below), and for using their search engine.

You won’t be able to replace your income with Swagbucks, but it can be a good way to make an extra couple hundred a year for a few minutes of work each day.

The Swagbucks “currency” is fittingly named “swag bucks”, or “SB” for short. 1 SB is worth $0.01 (a penny).

The Sign Up Process

Signing up for Swagbucks is easy – all you need is an email and a password. You’ll also be asked a security question (such as “what’s your favorite hobby?”), to help protect against others hacking into your account. Click here to sign up.

There’s also the option to sign up with your Facebook account.

Is Swagbucks a Scam?

The word “scam” implies something that takes your money; a fraud. I have been using Swagbucks for about a year and half now with no problems.

Swagbucks does not cost anything, in fact, quite the opposite: it pays YOU!

So, since Swagbucks can’t take your money, what about your private information?

This is definitely a concern, as you do have to give some personal information when doing surveys and offers. But your information is pooled with millions of other people’s information, and it’s only used for research purposes.

If this is a concern for you, there are ways to make money from Swagbucks that don’t require giving out your personal information.

Following is a list of ways to earn money with Swagbucks:

1. Use the Swagbucks Search Engine

By using the Swagbucks search engine, you can actually earn money while browsing the web.

Swagbucks’ search engine is powered by Yahoo, so the results you’ll get will be more or less the same as you get with Google, Bing, or any other search engine for that matter.

While surfing the web, Swagbucks will occasionally reward you a random amount of SB. The rewards are very random, but if you do a lot of searching you’ll get a few SB rewards per day.

The rewards start as low as 4 SB, but some users have reported earning up to 100 SB for one search. On average, however, 6-10 SB is pretty standard.

The highest I’ve earned with one search was 30 SB.

EDIT (several months later):

Well, count me into the “earned 100 SB for one search” club! That was probably the easiest dollar I’ve ever made. �� In fact, I wrote a post about it which you can check out here.

2. Take Surveys

Taking surveys is one of the fastest and easiest ways to earn SB. The payout is pretty bad for most surveys, but every now and then you’ll see a 5-minute survey offering a payout of 100 or more swag bucks. Unfortunately, like most survey sites, you will disqualify from a lot of the surveys you attempt.

One user on Reddit reported (with proof) making just over 1,000 swag bucks in one day just by doing surveys. I wouldn’t recommend trying this yourself unless you NEED $10 right now, because it would take almost all day. And you’d probably disqualify from half the surveys anyway. Nonetheless, it’s an interesting stat and if you could do that every day for a year, you’d wind up making $3,650.

3. Complete Offers

Swagbucks has a list of offers that when completed, can each earn you several dollars. Completing offers is easily the fastest way to earn a bunch of swag bucks.

However, most of the offers require you to sign up for a free trial which you’ll have to remember to cancel, and others you actually have to pay for. Some of them will send you a ton of spam emails as well.

Unless you’re genuinely interested in these offers, I would not suggest doing them (here’s why).

4. Watch Videos

Although watching videos won’t earn you very many swag bucks, (something like 1-2 SB for every 6 videos), most of the videos are about trending topics which a lot of people will watch anyway. So why not get paid for it?

Some people like to let the videos run while doing other things, so they don’t have to waste their time watching for a long while only to earn a few cents. That way it’s essentially passive income, and can earn you a dollar or two per day.

Keep in mind that you’ll have to regularly click on the next playlist to watch, after the one before it finishes – so it’s not 100% passive.

5. Play Games

A fun way to earn some extra SB is by playing games.

There are lots of games to choose from, but most of them seem to be slots-related.

You can earn 18 swag bucks for every $1 you spend on in-game purchases, or by playing Swagbucks’ own games, you can earn a couple SB now and then without having to spend anything.

I played one of their games four times, and twice I earned 2 SB for a total of 4 SB. It only took a couple minutes, and the game was actually pretty fun.

6. Shop and Get Cash Back

One of the best ways to earn swag bucks is to get cash back for shopping online.

If you plan to purchase something online, make sure to go to the store through Swagbucks in order to get cash back. Almost every major online retailer gives cash back in the form of swag bucks, including Amazon and eBay.

Some offer as low as 1 SB per dollar, while others offer up to 50 SB per dollar. Savvy shoppers have saved a TON of money by doing this.

7. Answer the Daily Poll

Every day, Swagbucks posts a poll for its users. Answering it only takes a second or two, and you’ll be rewarded with 1 SB.

That’s $3.65 every year just for answering a poll each day!

8. Print Coupons

Swagbucks has hundreds of coupons available for all kinds of groceries.

For example, there’s currently a coupon for $2 off any two Pepsi Cola 12oz 12pk cans, and a coupon for 50 cents off any Windex product.

Each coupon you redeem at your local grocery store will not only save you money, but also earn you 10 SB!

9. Redeem Swagcodes

A couple times throughout the day, Swagbucks will post “Swagcodes” on their social media profiles and on their blog.

Each code will earn you a small amount (usually 2-3 SB) when you redeem them in the Swagcode box on the Swagbucks website or search engine.

Every once in a while, there will be a “Swagcode Extravaganza”, where Swagbucks will post a bunch of high value Swagcodes in a single day. On these days, it’s possible to earn 20-30 SB just from Swagcodes alone!

10. Watch Videos on the Swagbucks Mobile App

Available for free on both Android and iOS devices, the Swagbucks app offers the same sort of things that their website offers, but you can also earn an additional 50 SB per day for watching videos on the app.

The videos can be run in the background, so it’s virtually passive income.

11. Join the Swagstakes

Swagbucks has many sweepstakes or “Swagstakes” posted at any given time, and anyone can join them.

You have to pay a certain amount of SB to join, but if you’re randomly chosen as the winner, you can earn it back and then some.

I’m not the type to participate in these kinds of things, but I did try one that had a prize of 50 SB and cost 2 SB to join.

No, I didn’t win. What did you expect?

The Swagstakes definitely are legitimate, and plenty of people have been lucky with them. But it’s like that with any lottery. My advice is to stick with the more dependable ways of earning SB.

12. Refer Others to Swagbucks

A great way to earn some consistent swag bucks is by getting referrals. You make 10% of all the earnings your referral makes, so if they make 500 SB, you’d make 50 SB.

Also, once your referral reaches 300 SB, you both get an extra $3 (300 SB).

How Much Money Can You Make with Swagbucks?

If you take a lot of surveys, do all your browsing through the Swagbucks search engine, and are actively utilizing Swagbucks’ features, you can expect to earn a pretty decent amount from Swagbucks. Probably in the range of several hundred a year, but it really depends on how active you are.

I almost exclusively earn swag bucks through their search engine, and have already earned well over $20 in passive income.

Let’s do some quick calculations to see how much you can earn in a year if you are fairly active:

  1. 50 SB per week for using their search engine x 52 weeks = 2,600 SB per year
  2. 100 Swagcodes (at the value of 2 SB each) per month x 12 months = 2,400 SB per year
  3. Redeem 10 coupons per week (100 SB per week) x 52 weeks = 5,200 SB per year
  4. Answer the daily poll every day for 1 SB x 365 days = 365 SB per year
  5. Take one survey per day at 60 SB x 365 = 21,900 SB per year
  6. Refer 10 friends and they each earn 1,000 SB = 1,000 SB per year
  7. Play videos on the Mobile App for 50 SB per day x 365 days = 18,250 SB per year
  8. Watch videos on your desktop or laptop for 10 SB per day x 365 = 3,650 SB per year
  9. Play 2 games for 2 SB per day x 365 days = 730 SB per year

That’s equal to 56,095 swag bucks per year, or $560.95!

That’s enough to pay for a nice brand-new computer, or Christmas for an entire family.

As you can see, taking surveys and playing videos on the mobile app are easily the most lucrative ways to make money with Swagbucks.

But even if you only use the search engine feature, that’s still $26 per year. Not bad, considering it requires no extra work on your part.

How Does Swagbucks Pay?

There are many ways to redeem your SB.

The most common way is to redeem them for gift cards. There are a vast number of gift cards available, including all the big names such as Amazon, eBay and iTunes.

You can redeem gift cards for as low as 300 SB, and up to 50,000 SB.

You can also redeem SB for PayPal cash once you have 2,500 SB.

You also have the option to donate your SB to a charity of your choice.

Is There a Minimum Payout Threshold?

Yes, you need at least 300 SB to redeem certain gift cards. If you want PayPal cash, you’ll need at least $25 worth of SB before you can cash out your earnings.

So, although it’s quite easy to rack up 300 SB, Swagbucks won’t be the answer if you need cash RIGHT NOW. Qmee would be the better option in that situation, since it has no minimum cash out amount.

Swagbucks Complaints

Every company has their problems, and Swagbucks is definitely no exception. Following is a list of complaints some people have against them:

– The pay is quite low

This is true, but the thing is, Swagbucks isn’t supposed to earn you a full-time income.

Also, if you just use the search engine and don’t waste your time taking surveys, you can actually make some decent passive income each month for just browsing the web.

Take advantage of the passive income opportunities Swagbucks presents, and you won’t be disappointed.

– Swagbucks isn’t available in many countries

Most sites like this only work in a few countries, unfortunately. In Swagbucks’ case, the countries supported are:

  • United States
  • United Kingdom
  • Canada
  • Australia
  • Ireland

– Sometimes Swagbucks won’t give you credit for the offers you completed

Some people are having trouble getting SB for offers they completed. Although this is unfortunate, it’s just another reason to stay away from the offers (like I said earlier).

Unless you are genuinely interested in an offer, I advise that you ignore it altogether.

– You get disqualified from most surveys you attempt

Almost all survey sites pose this risk, and Swagbucks is no exception. However, if you want to reduce the chance of this happening, be sure to fully fill out your “survey profile”.

I actually found the Swagbucks surveys to be more reliable than, say, Qmee’s surveys, since I was actually able to successfully complete a couple of them (out of like 5 attempts).

– Customer service is extremely slow

When people send in support tickets, customer service rarely gets back in a timely manner. Sadly, most similar companies have this same annoying problem.

Swagbucks Pros and Cons

Pros

  • 100% Free
  • Simply using the Swagbucks search engine can earn you several dollars per month in passive income
  • Good referral system, with the potential to make hundreds each month
  • Wide variety of gift cards to choose from when you’re ready to redeem your SB
  • Swagbucks has been around since 2008, and throughout this time has maintained good reputation.

Cons

  • Only available in certain countries (listed above)
  • You aren’t guaranteed to qualify for every survey – in fact, you’ll probably only qualify for a small percentage of the ones you attempt.
  • Slow customer service

Final Thoughts – Scam or Legit?

Swagbucks is not a scam. It’s a legitimate way to earn money online.

By just using their search engine, you can make some decent pocket change each month. If you’re an active user, take surveys, complete offers, and use the site to its full potential, you can make a modest side income.

I haven’t experienced any issues with Swagbucks except for disqualifying from most of the surveys I tried, but that’s normal with any survey site.

In my opinion, Swagbucks offers some excellent ways to earn a little extra each month, and can even pay for Christmas if you utilize everything it has to offer.

While Swagbucks is a nice way to earn a little extra pocket change, it certainly won’t make you a full-time income like some online ventures.

My favorite way to make money online (it’s far better than Swagbucks) is called affiliate marketing. I like affiliate marketing for several reasons, specifically:

  1. You don’t need an inventory of products to sell, since you’re promoting other people’s products
  2. All you need is a computer with an internet connection (so you can work from pretty much anywhere!)
  3. Even complete beginners can do it with the right training (here’s what I recommend)
  4. The amount of money you can make is virtually unlimited – some people make millions per year!

Since affiliate marketing is a real business, you won’t make money right away (like you can with Swagbucks). But if you put forth a serious effort, you will start to see your earnings grow, and possibly be making enough to quit your job.

It takes time, yes, but trust me: it’s well worth it.

Have you ever used Swagbucks before? What do you think of it? Feel free to leave a comment below, and if you have any questions, I’d love to help out!

Goex.Pro Review. Is Goex.Pro Scam or Legit?

Goex Scam Alert!

Are you here to find out what is Goex.Pro, either is Goex Pro a scam or a legit? If so then you are absolutely in the right place because here, within our Goex review, you are going to find out the complete truth about this company.

So, What is GoexPro? Is GoexPro a scam or a legit? Is Goex safe to invest or not?

Goex.Pro is a Ponzi scheme which is tricking people by making them believe it is an exchanger. Since Ponzi scheme is illegal scheme, so Goex.Pro is a scam and isn’t safe to invest money. If you don’t know what is Ponzi scheme, then you can click this link to find out the details:- newsonlineincome.com/ponzi-scheme/

Now it is clear either is Goex.Pro a scam or a legit, what is Goex Pro in real. However, if you want to find out more about this company, then also you don’t have to search any other Goex.Pro reviews because here, within our Goex Pro review, we are going to provide the complete truth about this company. So, you search for Goex reviews ends here.

OK, let’s begin with our detailed review of Goex.Pro as below.

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Why is Goex a scam? Let’s find out in details.

Aforementioned, we already made you clear Goex Pro is a scam because it is a Ponzi scheme, however, maybe now you want to know why is it a Ponzi scheme and what are other factors which makes it a scam and so on. If so, then you can find those details as below:-

  • Goex Pro is a Ponzi scheme because it claims to pay the unsustainable rate of return such as up to 1.37% profit daily on re-investment plans and up to 0.8% daily on investment of the members. However, it hasn’t provided any information from where it can make such amount of profit. It also claims to be exchanger, but it is almost impossible for exchangers to guarantee such high rate of return on daily basis.
  • It is clear that Goex Pro is not making any real profit and only routing the money between the members and that is also only to pay few members at starting in order to show the payment proofs so that it can lure more people into its scheme and collect the huge amount of money and run away with that. These kinds of schemes are known as a Ponzi scheme which will not pay the majority of members at the end.
  • On the other hand, if any company can guarantee to pay up to 1.37% profit daily, then why even that company needs to collect the investment from several people by paying them up to 1.37% daily instead of taking a loan from a bank in much more lower rate, less than 1% monthly if they need to raise a fund to invest in their project. So, this again proves the business model of Goex Pro is bogus.
  • Goex.Pro hasn’t provided any information about its company registration. It has also concealed the owner details and company location within its WHOIS details. It has shown the fake pictures of the team members on its website. Those pictures you can find in the name of other people by searching in Google. In online business industry, we should never believe those companies who hide their owner details.
  • In the past 1000s of companies similar to the Goex Pro have already scammed millions of money from many people which once again proves GoexPro is one of those scams. Legal authorities have already seized many similar kinds of companies. Involving with these kinds of companies is a crime and legal authorities have already issued a warning to the general public to stay away from these kinds of companies.

Aforementioned, now it is clear that Goex Pro is a Ponzi scheme with unclear owner details. So, GoexPro i s a scam. That’s why we have listed it in our Bad and Scams category. So, your search for GoexPro reviews ends here. Now, maybe you want to find out the genuine and trusted ways to make money online. If so, then you can find the list of genuine and trusted online works and businesses by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/

Among those genuine online works and businesses, our No.1 recommendation is Wealthy Affiliate about which you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/

If you are tired of scams and looking for the ways to detect either any site is a scam or not by yourself, then you can find some tips by clicking this link:- newsonlineincome.com/2020/03/23/how-to-know-scams/

Please spread the awareness about this Goex Pro scam by sharing this GoexPro review with your friends and families:-

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