eToro Social Trading Platform

eToro is a little different to most brokers and another good option for beginners. It offers what they call CopyTrading, when you can opt to follow the trades of another member. They buy, you buy. They sell, you sell. They move their stops or change their targets, your account automatically updates to do the same.

There is a risk here that the traders you choose to follow could have a reversal of fortune, but if you spread your bank over a portfolio of traders… ie copy the trades of 8-12 proven traders… you can minimise your risk and still generate a very consistent return. And if one of them does manage to blow up, it won’t have a major impact on your account balance.

I’ve used this one myself in the past and had some excellent successes with copy-trading. These days I prefer a more hands-on approach trading my own plan, but I have a number of friends who swear by it. As always, just remember that past results do not guarantee future performance… so a conservative risk-averse approach will always yield better results in the long term.

Check Out the eToro Social Trading Platform

AVA Trade Platform Review

This is my main trading platform for all cryptos and forex pairs. It runs on the Metatrader platform, has very competitive spreads (FX equivalent of commissions), great liquidity (so you get your orders filled at the price you want), and I’ve never had a problem depositing or withdrawing funds.

It is a regulated broker, well established, operating in over 150 countries for the last 10 years. They offer fantastic support and training and a variety of trading platforms, including a web-based option for any time you’re away from your desktop.

You can start with as little as $100, though they have some excellent first deposit bonuses that make it worth your while to start with a larger initial bank… which isn’t a bad idea…

Your Starting Account Size

You don’t want to ever risk more than 2% of your account on any single trade… so if you start with $100 and apply strict money management, you’d only ever risk $2 per trade… Which means your wins would be quite restricted as well… maybe $5-$10 for a successful trade.

Realistically though… even with the best of intentions… most people starting small will end up risking a much larger portion of their bank on every trade… 10, 20 even 50%… which becomes a very hard habit to break later on.

You will do much better if you wait to start until you can make a more substantial deposit of at least $500, preferably even more, and then establish good money/risk management practices right from the start!

Perhaps what I like the most about this platform is their regular technical analysis which often identifies opportunities in currencies I don’t usually follow. Also the Autochartist software that’s included in the package is professional quality softweare not usually available to retail traders, and certainly not for free.

They also offer trading on the 5 main crypto-currencies at very competitive rates and margins. While most brokers are offering Bitcoin these days, very few have all these others, and personally I often to find more opportunities on those.

So even if you prefer to shop around, I encourage you to look AVA Trade over, and use what you see as your benchmark of what a good broker should be offering…

Register An Account With AVA Trade

Plus 500 Trading Platform Review

Plus500 offers CFD trading in Shares, Forex, Indices, Commodities and ETFs. I’ve been using their platform for a number of years and it is easily one of the most user-friendly I’ve encountered and I’ve always found it reliable and stable.

It was also one of the first I found offering CFD options for crypto-currencies. They also offer CFD trading for some 2000+ instruments across 20+ different markets worldwide.

The other big plus for me was the fact I could deposit funds from my PayPal account, which saved a bit of back and forth when I needed to make a deposit. Obviously you don’t want to be making too many deposits, so that isn’t such an issue, but I find it handy to have funds paid out to PayPal as well.

If you are just testing the currency trading waters, this is an excellent option to learn on. Unlike other platforms, with Plus500, customers cannot lose more than the funds they have available on their account. You can set up a Demo account and use it on any device while you develop your own trading plan.

You can download the software directly using the link below, or visit the website for more information…

Plus 500 Direct Download

View The Plus 500 Website

 

*** Your Capital Is At Risk. CFDs are leveraged products and can result in the loss of your capital. ***

Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents.

( Plus500 is not available to US Residents. )

Tips For New Currency Traders

Currency trading is possibly the easiest way to build your stock digital currencies, fast… but it’s also a good way to lose it all if you dive in unprepared. An even bigger risk is when you ‘get lucky’ early on and start to think you’ve got it all worked out…

You start to feel invincible and the temptation is to loosen stops, increase lot sizes and take bigger and bigger risks.

And quite often you’ll get away with it… for a while.

But rest assured that sooner or later, the market has a way of coming back to make you feel very, very human.

The thing is, almost every trader who blows up their account do so after a run of amazing success.

Don’t fall into that trap…

The better things are going, the more important your trading plan and money management become if you don’t want to become another statistic.

Whole books have been written on the psychology of trading and money management, so I won’t try to rehash all that in a single blog post, but I will share a few tips that might save you some pain. If you want ot dig deeper, find yourself a copy of Fooled By Randomness… essential reading for any trader in any market!

A Few Trading Tips To Get You Started…

Trade A Demo Account First. Everyone struggles with this… we all want to go live, especially if we are having some wins… but the process is invaluable as it’s teaching you trading patience.

Trading opportunities are like buses… if you miss one there will always be another one along soon after!

ALWAYS Trade With a Plan. If you don’t know you’re entry, your stop loss and your profit target, don’t take the trade until you do.

ALWAYS Trade With a Stop. It seems like common sense and everyone starts out using them religiously, but they are the first thing to go as your account balance starts to grow.

NEVER Move Your Stop. Decide your maximum risk before you enter any trade, and stick to it. If the trade goes against you, take the loss and move on.

ONLY Trade Funds You Can Afford To Lose. Again, common sense but I’ve seen plenty of people get into trouble charging up their credit cards, especially when they were eager to get back in after blowing up their account.

NEVER Risk More Than 2% Of Your Account On A Single Trade. That way you can sustain a run of 50 losses without blowing up your account.

The Trend Is Your Friend. Trading against the trend is higher risk and usually a sign of impatience. Most people will do better to wait out the retrace and enter in the direction of the trend.

A (Relatively) Simple Beginners Strategy…

If you are new to trading and you’re determined to trade cryptos, it’s safe to say that the long-term trend is LIKELY to be Bullish for most established currencies for the foreseeable future.

So a simple play is to look to buy on dips and hold the position long term…

Keep your lot size small so you can ride out any fluctuations and wait until the market moves well in your favour and then move your stop to a break even point.

Then look for your next entry…

Even with this approach, you want to have a trading context that tells you the trend is indeed up and the market is about to resume moving in that direction. Then you need a firm trading plan that identifies your entry point, your invalidation point (the price where you know you were wrong and it’s time to get out), and a logical profit target.

If any of those don’t mean anything to you, consider working though the following free training package before you risk your money!


Ready To Set Up A Trading Account?

We recommend AVA Trade. It’s a regulated broker with a proven 10-year track record. I offers competitive spreads, a generous welcome bonus and a great mix of platforms, free analysis, training and education. Even if you choose to shop around, take a minute to see what AVATrade offers and make that the benchmark you compare the rest too!

Check Out AVA Trade

 

 

The Bitcoin Miner App

This is a free app from the Google Play store that actually works, in that it does generate bitcoin for you… all totally hands-free… though it does it so slowly it isn’t going to be worth the effort for most people.

It is a bit of fun to see it creating money… more or less out of thin air… but it’s certainly not intended for a serious capital raising venture.

That said, if you are new to all this and seriously don’t have any cash to put towards this right now, this is another free option to start building up a small starting bank. On it’s own it will take months or even years to earn anything useful, but run it in conjunction with a few other free options we cover, and you could raise a working stake in a couple of weeks.

Just keep in mind, it requires your computer be running, pretty much around the clock. It doesn’t draw much power, but if you don’t normally have your machine running, it could increase your next power bill!

My Test Run…

I spotted this and decided to give it a try a little while back. I ran it for a 24 hour period on my PC… where it was interrupted (and paused) every time I opened any windows over the top. Even if I avoided covering the app, checking email or using the internet slowed it considerably as well and a few rimes it stopped for no apparent reason.

That first run yielded just over 1000 Satoshis, which sounds pretty cool til you realise that’s 0.000025 BTC … a little over US$0.02!

I almost left it there in disgust, but I had to get to 5000 Satoshi to cash it out, so I decided to experiment a bit along the way and see if it might be a useful option for someone with no free cash to earn some coin.

So next run I tried it on my Laptop, a much newer machine so considerably faster, and one that could be left running uninterrupted. I also ran it on my desktop overnight and when I was out of the office.

The Laptop worked about twice the pace, so with the desktop running for much of the time as well I was able to rack up 2800 Satoshis for the next 24 hour run.

Better but still only generating a few cents per day… which wouldn’t even cover the cost of the electricity used.

I usually have my computers running around the clock anyway… forex trading on the desktop, and Spotify (music) playing the laptop… so I wasn’t too worried about power use. If you don’t usually run your computer 24/7 though, you will need to weigh up the cost of power before you try this.

So is it worth the effort?

Well the thing is, it is no effort… a few minutes to install the app, a few seconds to fire it up anytime you’re not going to be using a computer… so it’s more about the power and the time.

Are you prepared to invest the electricity and wait for it to amount to something?

Realistically, to get started with any of our recommended programs you are looking at a minimum of $30 or so. Most Bitcoin sellers have a minimum amount of US$50-60 though, so allowing for price fluctuations, you really want to get at least $60 aside to buy your first bitcoin.

If you combine a number of different free options… for example this software, bitcoin faucets, pay to click, paid surveys, paid offers etc, you could conceivably get it up to $10 per day… albeit a very long day…

So theoretically you could raise your $60 in a couple of weekends.

But most people will probably save that amount faster than they’ll earn it with any free methods.

So the only exception I can see is if you aren’t working right now and have the time to sit at the computer…

Or you have a computer running anyway or a power source you don’t have to pay for…

Or you just want to have some fun and show your friends your bitcoin mining software… busy creating money out of thin air!

So have a look and have some fun, but if you’re serious about accruing Altcoins, check out some of the other options you’ll find on this site before you waste too much time on the free distractions.

What About Other Mining Options?

Solo mining is a specialised field these days, and even the pros with the best equipment struggle to make a decent margin. As much as the technology improves, the rate of return decreases. So most of the successful miners are working in pools or co-ops, sharing the work, reducing their costs and splitting the returns.

There are plenty of scammers out there though, so do tread carefully if you go looking for a mining program to join.

Generally steer clear of any that don’t want much up front… anyone with a good product that gets results will expect you to pay a decent amount to join them.

Be especially careful avoid the recent trend of ‘free’ mining sites…

These let you set how much you want to make from mining, they then mine for it with a whole lot of tech specs scrolling down the screen, achieve it ridiculously fast… then ask you to send them their fee first so they pay you.

$70 to make $1500 in about 10 minutes… is anyone’s too good to be true alarm going off?

Reading through the scam alert forums I am constantly amazed at how many people are so surprised and angry that the people on the other end didn’t send them their ‘profits’ after they made the ‘admin fee’ payment.

It sounds like a pretty easy scam to spot, but these sites must look quite legit to a lot of people, judging by the complaints they get… so be warned and don’t get caught up in the moment thinking you’ve found the exception to the rule.

 

 

 

 

 

and immediately it was pretty clear

 

 

Trezor Bitcoin Safe – Hardware Wallet

Once you start to accumulate some Bitcoins, you will need to consider purchasing a hardware wallet. This is a device to store your Bitcoins that is not connected to the internet, so it’s not vulnerable to hacking and theft. The general idea is to use a web-based, desktop or mobile wallet for your day to day use, but keep the bulk of your bitcoin safely out of reach, offline.

The Trezor storage device does just that. It plugs in as a USB device when you need to access your bitcoins and has multiple additional security measures built in for when you’re connected, and even has measures to protect you from a physical attack or if your computer is compromised.

As well as the security risks of connected wallets, there is also a very real risk of users losing their private key data. Unfortunately there’s nothing you can do after the fact. The Trezor however prompts the user to create a seed upon initiation of the device, and this seed can be used to recover your Bitcoin in the event the Trezor is ever lost or stolen.

So as your digital coin reserves start to grow, you should have something in place to protect them from the start. If you tell yourself you’re going to wait until you have a decent quantity worth protecting this way, you’re inviting disaster to strike… and it probably will, just when you were about to get around to it…

So check out the link below… it will take you to an information page on Amazon where you can order your Trezor wallet for immediately delivery…

View The Trezor Website

Coin URL Advertising Network and Link Shortener

Coin URL is an advertising network quite similar to the Google Adsense network. You add your website and create Ad Slots… sets of contextual text ads that you can place on your website or blog pages. Any time a visitor clicks on an ad, you get paid… in BitCoins.

There are a few of these networks now, but this is my favourite due to it’s payment rates and reliability. It also has a very useful URL Shortener built in. You can link to that as well from your site and earn commissions if any of those visitors sign up as advertisers or publishers.

Setting Up Your CoinURL Account & Creating Ads

Set up is quite straight forward. Just register below, add your website or blog URL, then create an ad slot for a couple of locations on your pages. I usually place one 250px x 250px in the footer of my WordPress sites, and a 300px x 250px block in the sidebar.

Like Adsense, these ad blocks won’t generate a lot of revenue unless you have a lot of traffic. Personally I’d prefer the payments from my display ads, but the fact remains these can get some regular clicks, and some advertisers do pay very well.

So it’s worth monitoring these carefully. Once you see which content you have that generates the best CPC payment, you can write more on that subject. Then place an additional ad block within that content for maximum returns. Just make sure you comply with the network’s rules regarding number of ads on any one page!

Create Your CoinURL Account