The social trading platform eToro has now made it possible to earn a second income with their Popular Investor program.
It all has to do with their CopyTrader™ feature, which allows users to allocate funds to other traders’ investment moves — essentially, copying them. So, if you don’t feel like a confident crypto trader, but you see someone who is, use CopyTrader and you’ll mimic what they do automatically.
But what if you are a confident trader? Can you profit off being copied? Yes, you can.
You’ll have to apply to become a Popular Investor, but once you qualify, the chart below shows how the earning and upgrading system works.
- For Elite and Champion payments, payments are divided by 12 in order to pay the yearly AUM each month
- AUM is the total aggregate copy amount of the unrealized equity of the current copiers.
Once you achieve Champion status, your income will become a percentage of your AUM (assets under management). This means if the total equity of your copiers is $300,000, you’ll earn $500 a month (2% of 300,000 divided by 12) — plus the one-time $1,000 upgrade bonus.
The more copiers you have and the more assets they have, the more money you stand to make.
If you feel confident in your crypto trading game and are looking for some extra cash, this could be an avenue to explore.
eToro’s new Popular Investor program. Learn more about it here.
Image by Bruno /Germany from Pixabay
