As you may know already if you’ve visited my site before, I am a massive fan of cryptocurrencies, and I am heavily invested in them as well (maybe more than I should).
As I sit here writing this on November 19th, 2018, the cryptomarkets have just taken another tumble with most of the major coins down double digits for the day.
But why am I telling you this?
Well; today I am doing my Coinchest review.
Amidst all this price action and red double-digits, I just came across a new product being peddled online with the name of Coinchest, which is a training program that claims it can teach you how to make money with crypto.
Cool – we’ve all heard that before – but is this any different or is Coinchest a scam?
While I would not say it is a scam; but I will say that it’s not as easy as they make it out to be.
If I were you, I would avoid buying this course for now and instead finish reading this review as yes;
I am about to tell you the entire strategy laid out in the Coinchest course.
Now; I have to add here that I did not buy this product myself.
However; I have purchased many other similar ones, and I also know the cryptomarkets and how they work well as I have been investing in them for years.
Also, the way the product is pitched; I was also able to quickly pick up what the entire strategy laid out is and again; it’s not a scam, but it definitely does not work as easy and as quickly as described.
Interested in knowing the Coinchest secret?
Continue reading my Coinchest review and find out (for free).
What Is Coinchest?
Coinchest is a new training platform that launched on Clickbank a few days ago and allegedly, it’s a system that can make you hundreds of dollars per day leveraging some unique features in the crypto markets – and all can be done in a few minutes a day.
Sounds too good to be true?
What Will You Learn In Coinchest? (The Secret Revealed)
I’m going to stop beating around the bush here and tell you what you can expect from Coinchest.
This course claims to be able to make you hundreds a day through the use of;
Wait for it; Arbitrage trading.
What is Arbitrate trading?
Arbitrate trading in the crypto markets means taking advantage of the “minor” price differences between the many different exchanges that are out there and buying from one and selling to the other.
If on one exchange, Bitcoin is selling at $10,000 (I wish) and on the other, it is trading at $9,950, in theory – and what Coinchest suggests you do – is that you buy one from one and sell it to the other, thus making a quick $50.
That, in a nutshell, is what arbitrage trading is.
Now, let’s see why this is a ridiculous way to claim that “you can make $100s a day with this method” – even if it’s entirely true and possible.
How Can You Make Money With Coinchest?
To simplify things, let’s say you have a target to make $500 a day with this course.
Let’s also assume that we are still keeping the above example of the $50 difference between exchanges and BTC is set at $10,000.
Well, you are going to need $100,000 just to get started with this method.
Even though the course does not mention this, you are going to need a heck of a bid budget in order to make that amount of money in one day with arbitrage trading.
Now maybe I’ve got this wrong, but if you’ve got the financial freedom to be able to just load up $100,000+ at the drop of a hat – well then you wouldn’t be reading this.
Also, there’s a risk to this and it’s not as “foolproof” as one may think.
You have to remember that crypto markets are still incredibly volatile; especially during this time where there is such hype and such fear in the markets.
Transferring $100,000 back and forth with different exchanges will take you time (not to mention it will also cost you fees – but let’s not mention that).
If you are doing this with Bitcoin for example, the funds may not transfer for one to two hours at least, in which the price can vary wildly.
It’s very much possible that you are left with less than what you paid for them when originally you thought you were going to sell for a significant profit.
Of course, by the time you transfer the money, the price can also shoot up so you could make an absolute killing too – it can go both ways.
But, either way; I am sure that playing about with a $100,000 all day is not something you were expecting from Coinchest thus I decided to publish this review to let you know what to expect.
As I said; Coinchest is not a scam – but it is misleading as these things are not mentioned in the video.
I mean no disrespect to the creators of the program – and maybe they are actually pulling this off successfully on their own but for the average guy – who does not have $100,000+ to “play with” – I really do not see this as a way to go.
How To Make Money With Cryptocurrencies?
If you do want to make money from cryptocurrencies, all you have to do is buy them today (while they are cheap) and forget about them for the next ten years – it doesn’t sound exciting I know, but this is the best way.
Constantly checking and refreshing the prices is not fun – trust me I know.
The hassle of having to deal with the volatility is a headache I do not wish on anyone – unless like me; you’re into that thing.
If you’re interested, there’s a much better course called Cryptonary that you can look into for making money with crypto.
How To Make Money Online (Without Cryptocurrenices)
This course (Coinchest) is pitched as a make money online product which as I see it – they pitched it the wrong way.
If this was simply pitched as an arbitrage trading course, I am sure more people would be interested in it (but who knows).
If you want to learn how to make money online – without having to suddenly let go of the $100K+ in your bank account, then look no further than affiliate marketing.
Affiliate marketing is the best way to make money online in my opinion.
I have been running my affiliate business fulltime since January of 2018 and if you want to know what I do and how you too can make money this way (without hassle and headaches), you can check out the free Wealthy Affiliate training course.
Thank you for reading my Coinchest review -if you do have any questions be sure to let me know and of course; if you are still dead-set on buying the Coinchest training course, you can do so via this link here >>
Thanks and talk soon.
PS: I have an email newsletter where I share all my ups and downs with my online business here – if you want to watch over my shoulder and do as I do and avoid what I fail at; this is where you should get started.