As a struggling student, I've come across varying sources of income and those that involve investing money are my least favorite. Since I was working on Neobux, I was required to view a lot of advertisements and I have always seen advertisements from eToro. It caught my attention and out of curiosity, I checked out how it works. Basically, it was a brokerage company and you use your money to invest on companies or resources and hopefully, your investment grows. It required a lot of analysis and skill before you can make a decent investment; News updates on markets and economies were necessary. I got interested in betting until I found out that the minimum investment was far greater than my monthly allowance. Then I immediately lost interest.
A few months later, I found out about Binary options. Up to this day, I'm still confused on what my basis should be for investing. It required far less money to invest but the charts don't make sense to me. Unlike Foreign exchange, you could make an educated guess on the trend for an economy just by watching the news. In Binary options, there are not enough resources for you to take a lower risk.
Or perhaps the broker I'm using is not good enough? Comments and suggestions are highly appreciated. Cheers, Steemit! :)
No no no no no no no no no no no no no no
I can't say no enough times - this is just gambling
The key to investing is to work out where you have an advantage and then use it. As a student with no knowledge of finance, your advantage is that you have time on your side and you can leverage the power of compounding.
Forget the quick win and invest in the highest quality companies in the world. Then forget about them other than after payday when you invest some more.
When you have a healthy amount - you can decide what is healthy - then by all means look at other options, e.g. Crypto or selling options (I wrote a few posts about this on my blog)
But seriously, avoid the get rich quick schemes - unless you are incredibly lucky, you will just lose all your money
Cheers
Thanks for the comment. I'll look up yout blog :)
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