trading bitcoins on etoroFor the past month, I’ve been running an experiment to see if I could make money by trading bitcoin on the etoro platform.

Although I hold an actual stash of bitcoins, using it for trading is quite risky.  Bitcoin exchanges are closing down all the time, and there is just way too much downside.

So I’ve been using etoro instead.  Etoro is obviously a trusted broker and they allow you to trade bitcoin just like you would a stock or a commodity.  And the best thing about using etoro to trade bitcoin is that you can deposit using paypal!!  I’ve been depositing paypal on etoro and then buying bitcoin.

Why I’m Buying Bitcoin

There is a chance that bitcoin will collapse.  But there is just so much potential upside, that I know I would be really annoyed with past self in the future, if I failed to buy some bitcoin.  By having a stake, it allows me to be part of the journey.  Even if it fails (which I doubt it will), being part of something this exciting is something I don’t want to miss.

But I do believe there will be big growth in bitcoin.  It sure as hell is going to be a rocky ride.  However, almost every day, investor friends keep forwarding me news about their investments in bitcoin companies – some of these companies are really exciting and innovating and they are going to be the driving force of Bitcoin over the coming years.

How Much Have I Invested in Bitcoin

I’ve decided to cap my investment at just over $200 at the moment.  I know this isn’t very much, but it’s still enough to be part of the game.  I’m planning on regularly investing $20 here and there over the coming months in bitcoin

When Will I Cash Out?

I’m thinking that it’s definitely wise to wait until bitcoins hits over $1000 before cashing out.  At the moment, the price is really low so it’s a great time to buy.  I can’t say when I will cashout in the future.  If I do, I might do it in increments just so I still have some skin in the game.

Why Did I Choose eToro

  • It’s a trusted broker.  They have been online well before bitcoin existed and I’ve been trading currency, commodities and stocks with them for a long time.
  • They have PayPal deposit and cashout.  I like using Paypal to manage my online funds.
  • I can invest as little as $10 in a bitcoin trade.

Here is $20 Free for You to Invest in Bitcoin

Ok I’ve got an exclusive offer for TCD readers.  Just register with eToro using this link and you’ll get $20 free to invest in bitcoin.  You don’t need to deposit anything – it’s completely free.