Trading on binary.com

Today I did some research on online trading. So I chose binary.com as my platform to begin. I watched some YouTube videos to get some basic knowledge about binary.com. actually it helped me to understand the basic concepts. But because of my impatience I watched around 5 minutes of that video and the created a free account in binary.com

Then they were providing a demo account to practice ourselves. So I went all over their websites and learned how to make money out from this. It was like guessing. Imagine we have X minutes and the value of this X is 1 minute. Then we have to guess where will be the point(marker) of the chart after 1 minute of time. There are 2 options. First option is it(the mark) will be above the staring point and the second one is the mark is below the starting point. After selecting which option we are willing to take, we'll have to pay for that. It's 100% guessing and analyzing. 

If our selection was correct after 1 minute of time we'll get the amount we invested plus the profit. This is the basic story.

After taking some practicing, we can make a real account with real money. In binary.com. they have provided some options to pay for their stakes. Such as Neteller, Skrill and so on. 

So after that I had created free accounts in both of these sites. I'm writing this blog on 3rd of September 2021. On this day , Non of Sri Lankan banks allow to make transactions to above sites. After doing some research I found that DFCC Signature Credit card allows to do transactions to these sites. But there is a big NO. In order to get the signature card we must show them a income over 200,00LKR and so on. I'm pretty broke these days and 200,000 is not in my vocabulary. So I had to give up on that binary.com alternative.

Why I needed to earn some more money? Now, that's a good question. I needed to do extra Udemy course which costs 89$(around 18,000LKR). Of course I could download that course from torrent site, but I will not get a certificate to put on my LinkedIn. I have some money but they are hardly earned in Sri Lanka. I needed to make some money from outside Sri Lanka and I needed to use that money to learn. I did not want to send money which were earned in Sri Lanka to another country. It will make a vacuum in the cash flow in Sri Lanka. Of course not only because of that reason, if I spend my everything on that course, there won't be anything left to invest in another investment.

So, however I had to put a temporary full stop for this investment.