Pros
+ You can work from home, from all around the world + You don't need to be a certified translator to pass the evaluation test, just bilingual or close to it. This is great for people who picked up language skills through their personal but not professional lives. + If your language pair is in high demand (!) and you are skilled, you will have no trouble getting good reviews for your translations and a higher position + Good for making some money on the side + You don't need to freely translate stuff (you edit translations made by an algorithm, which can be better or worse). I suppose this could be seen as a con, too, but really, it doesn't inhibit your creativity in any way.
Cons
- The evaluation process for your language pair(s) can take a very long time and can even come to a standstill, if they don't need anybody for that position at the moment. So this really depends on luck. - There are too many translators for too few jobs, so tasks are gone almost immediately. Sometimes you won't see any jobs for months (either because you weren't quick enough whenever they were uploaded or there actually weren't any for your language pair. No way of knowing). This is why you can't make a living on this site (just some additional money on the side). - If your language pair is not in high demand, it won't matter how good you are; you won't become a senior editor if they already have enough of them - You can only ever withdraw multiples of 5 when you cash out. This is annoying and unnecessary. You should be able to get all the money you made at once.