Trade or invest
There are many ways to make money in the crypto industry. In this article we will consider the most accessible way for any person – earnings on the exchange.
Any ordinary currency exchange earns buying some currency cheaper and selling it more expensive. To earn we need to buy bitcoin cheaper and to sell it more expensive than it was bought in relation to our national (or other) currency.
What you need to start earning
For a trader-exchanger Chatex is the same as a shopping mall for a store. You only need to become such a store, take your pavilion in a shopping center and catch customers.
To accept payment from buyers, you will need payment instruments and the more of them you have, the more potential buyers can become your clients.
Register in all popular payment systems and banks in the country you live. To have accounts in the international payment systems such as Paypal, AdvCash or other would be a plus. As a rule, registration and verification in such systems are free, so it’s better to have them than not to have.
In some countries, iTunes, Amazon, Steam and other vendors gift cards are a popular payment method. Be sure to connect to the Internet banking or install mobile applications for payment systems that have them.
Now you need the initial working capital in local currency or in dollars or euros for international payment systems. The size of the initial working capital may vary depending on your capabilities and local specifics. In African countries, the average bitcoin purchase check is about $60 and in European countries it amounts to $120-150.
Now you need to find customers who would like to buy or sell from you.
You can make a website, you can advertise yourself on the forums, but the easiest and most effective way is to come to where there is already high customer traffic – to Chatex.
This is exactly how to open a store in the mall. You do not need to think about advertising and the flow of customers, about the transactions security and calculations, and a lot more. Chatex will do all this for you.
How to make a profit
Create two ads for each payment method one for purchase another for sale. The price (or rate) of the ad can be fixed or floating (depending on the rate of any large stock exchange). Your prices may depend on many factors such as the stability of the national currency, method of payment, situation and trends on the crypto market, but usually selling price of bitcoin is about 3-5% higher than the exchange price and buying price is about 3-5% lower than the exchange price.
As a result, you have a spread (the difference between buying and selling) that amounts to 6-10%. In exceptional cases, this difference can be up to 50%. This is the opportunity to make money. Even with a small spread and having the best rate you can earn money having large number of transactions.