How to Trade E-currency
┐by: Timothy Rohrer
When referring to e-currency, most people immediately think of the FOREX market. The truth is there is a new form of currency trading that is sweeping across the internet and making millions of people wealthy. What is this new wave of e-currency trading that┐s hitting the internet you might ask? It┐s called the e-currency exchange program. Electronic currencies such as INTgold, Netpay and E-gold are traded daily.
Let┐s talk about how the e-currency exchange network can put money into your pocket. There are two ways to make money. The first way is with a portfolio and the second is with a console. Upon opening an e-currency account, the user will be asked to create a portfolio and fund their portfolio. This investment can be anywhere from $25 to $100,000. I would recommend a small amount until you become familiar with e-currency trading. The portfolio is compounded daily and receives gains anywhere from .3% to .5% each day. For example, if you funded your portfolio with a $10,000 investment, each day your portfolio would net $30 of profit. Over the course of one month a $10,000 portfolio would make $900. With these profits you can either reinvest into your portfolio to maximize your profits, or out-exchange the money to your bank account.
The second way to make money is through what is known as a console. Having a console is like having a separate account in addition to your portfolio. With this account you can now process transactions from one e-currency to another for other traders. Not everyone is able to own a console. In order to have a console you must be in the system for 90 days and have a portfolio value of at least $5,000. It may seem like a lot, but even if you started out with only a few hundred dollars as your initial investment, this level can be easily obtained in just a few short months. In order to process transactions, electronic currencies temporarily borrow funds from your console account. In return, the console holders will receive a 6% fee as profit for each transaction they process. For example if Netpay needed to process a $2,000 out-exchange and you temporarily made your funds available for the transaction to take place, you would receive $2,120. That is $120 of profit back into your account! People need transactions processed daily from one e-currency to another and the market just keeps growing.
There are many helpful online courses available on e-currency trading. I tried to learn e-currency trading on my own through forums, chat rooms and by reading articles on the subject matter, but was unsuccessful. This method is extremely slow and time consuming. It took me 2 months before I finally gave in and purchased an online course. After purchasing an online course, I have managed to quadruple my initial investment in a relatively short amount of time.
Copyright 2005 Timothy Rohrer
About The Author
Timothy Rohrer is an established writer and e-currency trader. Learn how Tim Rohrer turned a $400 investment into $,4100 in just 3 months.