For making money, it will depend on what you have to work with.
If you can get your hands on R100,000 - R200,000 (i.e. available funds from your homeloan), you can easily make R10k-R20k profits per month. If you’ve never done it and don’t know how it works, it sounds scary giving that large amount over to a 3rd party, but the money pretty much stays in your control most of the time, you can check the conditions (arb and fx rates) every day and decide which days you want to trade and a trade is completed basically in 24 hours. If you go this route, I would strongly recommend either Shiftly or Valr. I don’t trust the other companies or their fees are too high.
Due to the high entry point, this obviously isn’t for everybody, but it is one of the fastest and most reliable ways to make money. The reason for the minimum of R100k trading is due to the forex and swift fees. If you trade less than R100k, the fees would eat up all the profits and result in it not being worth it.
For investing smaller amounts monthly, I would recommend (and do myself) invest into multiple streams:
- Easy Equities - Individual Shares
- Easy Equities - Index funds, but in a TFSA
The main trick here is knowing which shares and crypto to buy.
For shares, I would recommend subscribing to Red Hot Penny Shares by FSP (costs about R100 per month). They send out a newsletter every month and in it they provide 1-3 buy recommendations for companies that they’ve investigated and they provide the reason why they are recommending them, the entry price, target price, risk level, fundamentals, etc. He also monitors any news coming from the company and lets you know to sell earlier if things change.
I started investing monthly amounts from 2020 every month, just into the shares tipped by him and my overall portfolio increased by 70% due to profits last year. Almost all the shares tipped is in profit and some even as high as 200% in profit (i.e. AdaptIT, Wescoal, Jubilee Platinum). It is all stocks under R10 (penny shares) with high growth potential and usually within a year.
The whole process of consuming the newsletter and buying the shares (or selling if indicated), takes me maybe 30 minutes per month.
For crypto recommendations, join the Blockchain Whispers telegram group. The guy is quite full of himself and they do have misses, but I’ve tripled my portfolio last year due to some of his tips that came to fruition. It is usually long term holds, but I’ve had gains like 35x on Theta and I’ve just sold Metis this week at 4x which was tipped in September (but apparently I should have sold only a small portion as the main target is 10x). I usually invest a small amount in each tip and even if 4 out of 5 are in loss and one of them make 10x, then I’ve doubled my invested holdings.