Welcome to another article in my series on getting started in the world of ecurrency trading. I have had a lot of emails and comments lately from people asking what they should do to start an ecurrency business. I figured I should write a separate article on the subject just for beginners so that I can get back to the more difficult questions like the ones that are probably on your minds.
People who are thinking about starting an ecurrency business should be careful not to make the same mistakes that I made when I first started my business. I got into it with a power exchanger who was charging a ridiculous rate and I ended up with no money and no product. It’s something that you really have to watch out for when you are first starting out.
I have written more on what I should have done in the above article to help you avoid problems like the above from happening to you. I also wrote a separate article to help you better understand how to price your product.
But you must remember, the price you put on your product is the price you will eventually get for. If you offer a cheap price or a higher price than your competition, then you will get more customers than anyone else. But if you offer a lower price or a higher price than your competition, then you will not get many customers. Think of the Yankees (major league baseball team) who offer the lowest price and highest amount of product. This makes them the favorite team of many customers.
If you sell products, then you must understand what their competitor’s prices are. Then you can offer a price that will make you the favorite team of many customers. But you must remember, you cannot charge too much for your product or you will not get many customers.
When it comes to ecurrency sales, most people who want to get into the ecurrency business will purchase a power exchange computer from the internet. These are computers that allow you to trade your dollars for ecurrency and you have to buy these from a seller. In other words, if you want to be a power-exchange reseller, then you will buy your computers and power-exchange peripherals from the power-exchange resellers. Then you can sell them to other power-exchange resellers.
But if you want to be an ecurrency reseller, then you can sell these to anyone who wants to buy ecurrency. But don’t let the prices be too high or the profit margin will be minimal.
Some of the power-exchange computers that are readily available are at a price that a beginner can afford. But if you want to be an ecurrency reseller then you need to buy these from an ecurrency gateway company. So you buy them and sell them to experts who can resell these and be power-exchange resellers.
You can purchase a power-exchange computer from a dealer that has an ecurrency trading partner. In this case, you can offer ‘excange’ to other people who want to buy a power-excange computer from you. They will bid the price and you can give ‘excange’ to them. So don’t offer a low-priced power-excange computer. But a power-excange computer can be sold to experts who want to become power-excange resellers. They can help you get experts who want to become power-excange resellers.
And lastly, a power-excange computer can be bought from your service center. But it’s better to pay a small fee to have the item shipped to you. That way, you can have the power-excange computer shipped to you and you can use ‘excange’ to make bids to other people who wants to buy power-excange computers from you. And if your bid is high enough, you can sell the power-excange computers.