It’s now been 8 weeks since I joined Cash FX (which I described here), so it’s time for another monthly update.
As i mentioned, I opened my account with the minimum $300 investment (which had to be paid in Bitcoin).
70% of my investment – $210 – is actually used for trading; the other $90 goes into other parts of the program.
While you have to “buy in” with Bitcoin, that’s converted into Fiat (regular) currency which is then added to the trading pool.
Trading is actually done by professional Forex traders on members’ behalf and a small daily profit is paid out to members.
$5 Trillion per day is traded on the Forex market so it’s hugely larger than the cryptocurrency market.
And less volatile.
Cash FX will pay out up to 15 % returns per week, but the average tends to be around 1% per day, sometimes more, sometimes less.
So about 5% – 6% real returns in week.
Trading is only done on weekdays as the Forex markets are closed at the weekend.
I’m now in week 8 of my contract and the image above shows my progress so far following my most recent payout yesterday (Saturday).
The only figure of note is the $90 that I’ve earned over 8 weeks of trading.
So I’ve been averaging about $11 per week.
Here’s my earnings for Monday to Friday this week (week starting April 5th):
At this rate, it’ll take another 11 weeks to get back my $210 investment and another 8 to 9 weeks after that to recoup my original $300 investment.
However, as there’s a 20% withdrawal fee, I really need to earn $375 before I could withdraw my original $300.
And it would take another 7 weeks to reach that amount at current earning potential.
In all, it will take about 37 weeks from investment for me to break even.
After that, any future earnings will be pure profit.
My plan is to upgrade to the $500 investment plan once my Daily Trading percentage goes over 100%.
I’ll only have to pay the $200 difference between the $300 and $500 investment plans.
Daily profits will be larger in monetary amounts and things should start to roll faster from there.
The $90 I’ve earned is known as Bear Capital.
This is simply earning from the trades with my investment fund.
To accelerate my earnings, I really have to start referring people to the program.
I already started down that line by creating a sales funnel for Cash FX and I talked about how I used Builderall to create this funnel.
My funnel is live and collecting email addresses, but I’ve been tweaking it and making changes to the email sequence, all of which has taken time.
So I haven’t been heavily promoting the funnel/optin page.
I also have links to the program on my FB profile page.
If you use Facebook and aren’t using your profile page to either drive leads or sales, you’re missing out on a trick.
I also bought Justin Sardi’s course on mastering YouTube Ads.
This comes with 1 year of free access to his TubeSift tool which makes it incredibly easy to find videos on YouTube where you can place your video ads.
That link will save you $10 on the first payment of a monthly fee or $100 on the first annual fee.
That said, signing up to Justin’s course means that you’ll get a lifetime $200 discount on the annual TubeSift fee.
Justin has a free webclass here that shows you how easy it is to create YouTube ads and the potential return on investment you can get advertising on YouTube.
The beauty of YouTube Ads is that you only pay when someone watches your full ad, not if they skip the ad after a few seconds.
This makes advertising on YouTube much less expensive than Facebook Ads and your ads are being displayed to an already warm audience.
Which isn’t the case with Facebook ads.
Hopefully, by the time of the next monthly update, I’ll have a few referrals and can show you the true earning power of Cash FX.
Filed under: Cryptocurrency Trading