The Ultimate Beginner's Guide To Bitcoin And Cryptocurrency - How to buy and sell crypto

The Ultimate Beginner's Guide To Bitcoin And Cryptocurrency – How to buy and sell crypto

so you've taken the plunge or you're about to but either way you cannot hold yourself back from the world of crypto anymore you hear about people making massive games driving Lambos on the moon and baris on mars and you want it well today is your lucky day because in this video I'm gonna be going over everything that you need to know in a large scale in order for you to be able to buy Bitcoin by aetherium starts trading alt coins and get started right now that's right you could be on your way to the moon in no time this is the crypto beginners guide to getting started with cryptocurrency and Bitcoin so you could start getting trading and investing today in today's video we're gonna be going over 13 different things so I'm just gonna list them out one by one by one we're gonna start off with what crypto currencies actually are what are Pictou currency we'll move on to the best email to use for your crypto currencies how to never forget your password again how and where to buy your main crypto currencies like Bitcoin and etherium how to add another layer of security to your crypto how and where to buy alt coins how to transfer your crypto currency from one exchange to another such as from coinbase over to buy Nance how to actually trade your crypto currency how to store your crypto currencies to keep them safe how to manage and track your portfolio which is really important especially if you want to get all of your gains and know what you gained and lost and have your taxes in order how to maximize your security and safety common beginner mistakes and finally some general tips and advice now as a disclaimer I am NOT a financial adviser nothing I say or anything affiliated with me or the crypto beginner is financial advice nothing is legal advice it's not personal advice is not investment advice always do your own research always do your own due diligence and always seek counsel of a professional financial adviser for anything that has to do with your finances this video and everything on this channel is for entertainment purposes only and it is solely my own opinion it is not advice okay so what are cryptocurrencies do currencies in a nutshell are digital money or digital assets that are peer-to-peer they don't require any central authority like the Treasury or a bank this means that in essence you are your own bank when dealing with crypto currencies could send your money to whoever you want whenever you want no matter where they are in the world you could do it within minutes with minimal fees this is in contrast to a traditional banking system that requires a central authority such as a bank that typically charges higher fees and depending on where the funds are being sent to to take days or weeks to arrive crypto currencies use something called cryptography to make sure that the digital assets or digital money gets to where it needs to be without being able to be duplicated this process eliminates the possibility for cryptocurrencies to be counterfeit essentially pure to pure banking like cryptocurrencies where you have your own bank could fundamentally change the world because it could help to Bank over six million people or part of the six and a half million people that currently don't have any banks simply by having a phone a smart phone with internet access in their pocket and along with the currency side to it there is the underlying technology called the blockchain which has so many more implications and is definitely going to be revolutionising the world as we know it one thing that is important to know is that cryptocurrencies are still in their infant stages it's very beginning it's the very beginning of this and is very early the market is highly volatile and there are a lot of scammers and hackers out there so you need to be very careful this means a couple things one it means that you have the opportunity to make a lot of money right now because it's so early and institutional investors haven't even gotten into play yet – it can mean that you could lose a lot of money and you could lose all of it and that's why it is really to be as safe as you possibly can when dealing with cryptocurrencies and in this article I'm going to share with you all of the safety tips that I use to help keep my cryptocurrency as safe as possible so you could do the same thing with saying all of that let's get started I'm gonna put the stuff on the screen that needs to be put on the screen and let's go okay let's start out with the best email to use when talking about crypto currencies well the first place that you want to start when you're going to invest into the crypto is to set up an email account okay this is important because of how volatile crypto is you really should go above and beyond every measure that you can when it comes to your safety and this includes your email so I like using an email for microp to accounts that is encrypted I don't like using Yahoo I don't like using Google or gmail anything like that hotmail what I recommend is an encrypted email service provider the one that I use is called a protonmail that's PR o– t– o– n mail comm and I'll put a link in the description ok now let's go over how to never forget your passwords for your different accounts the second thing that I suggest that you do with your cryptocurrencies is to set up an account with LastPass that's la St pas s alright this is an extension for Google Chrome and it's also an app for your phone and it stores your passwords and it encrypts them so personally I have different passwords for every single account at every single exchange every single email everything I have different passwords and they're you know that's dozens of passwords all of them are 12 to 24 characters long they have different symbols and I change them up often ok it would be nearly impossible or if not impossible for me to remember all of my passwords but with LastPass I am able to you know remember all of them in essence so once you have your email and you have your password manager now it's time to sign up for an exchange so that you can start buying some crypto all right so let's go over how and where to buy the main crypto currencies which are a bit coin and aetherium all right the very first place that I would go to as of this writing as of this video is coin base all right you could sign up with coin base and you could buy your first crypto ëthere iam litecoin Bitcoin Bitcoin cash you could do it really easily it's not that difficult okay one thing to know a common misconception is that you have to buy a full Bitcoin like you don't have to do that you could buy a fraction of a fraction of it but you could buy one one millionth of a Bitcoin so even if you see Bitcoin is you know $10,000 or $20,000 or $50,000 you could buy a fraction of that you could put in ten bucks you could put in ten million bucks it doesn't matter you could do it with Bitcoin or etherium all of the all of the coins really other than coinbase the other exchange that is the best exchange to start out with it's called Gemini Gemini is really really good it's by the wincle bros twins they co-founded Facebook or they sued Facebook got a lot of money became the first billionaires in Bitcoin and Gemini is great except for the fact that it takes weeks for them to verify your account so if you want to get started right away go with coin base and maybe actually also try signing up for Gemini right away as well but just know that you're not going to get verified for a while the future the company and platform Robin Hood is going to be a huge competitor and huge contender in this space as being one of the first places to sign up and you know buy crypto currencies and this is because Robin Hood is going to have a fee less structure in other words that there's not they're not going to charge any fees alright right now coinbase does charge fees so having a fee less structure a fee less platform is very very enticing they had about 60,000 signups yesterday and now the wait list is over $600,000 I know 600,000 people excuse me so Robin Hood is going to be huge but as of this video right now it's in beta it's only available in a few states and you can't really use it so stick with coinbase for now if you're going to sign up for coinbase use the link in the description and in the comment box to sign up for coinbase it's my referral link and you'll get $10 worth of Bitcoin when you do that and then you put in a hundred bucks and you get 10 bucks free so might as well do that and right when you get signed up for coinbase and for any exchanges for that matter what you want to do is you want to immediately set up two-factor authentication or 2fa and we're gonna go into that right now [Applause] how to add another extra layer of security and safety to your crypto two-factor authentication alright so like I just mentioned as soon as you sign up to any exchange you want to immediately create two-factor authentication via Google Authenticator or the all fee app I like Google Authenticator better but a Google Authenticator what it is it's an app that you download on your phone okay and when you create 2fa on an exchange they give you a QR code and what you do is you scan the QR code with your phone in a Google Authenticator app you know in that app and you'll get a six digit code that you have to type in to the exchange every single time you use it and this adds a really good layer of security to your crypto assets all right you do not want to use SMS or text message two-factor authentication you do not want to use that you want to use the actual app okay that's really really important once you sign up for coinbase and you enable 2fa alright you need to buy some crypto currencies that's all pretty self-explanatory within coinbase itself or the exchanges itself I will have a different video and article on that but as of this one you know it's pretty self-explanatory so once you have your crypto and coinbase or one of the major exchanges you'll want to trade it off to a nother exchange something like buy Nance and you'll want to do that so that you could start buying and trading altcoins altcoins are cryptocurrencies other than Bitcoin personally I think of Bitcoin and aetherium as the main coins and then alt coins as everything else some examples of all coins are cordon o Monero Tron icon V chain these are all alt coins how and where to buy alt coins okay this is where you actually have to start being extra careful because to buy alt coins you need to set up an account with an exchange that carries them okay so there are hundreds of exchanges and not all of them are legit so some of them are scams and you need to go with reputable exchanges so the best exchange is that I know of our by Nance and COO coin so go with those and if you want to sign up for the other ones follow the follow everything on twitter and their social media accounts to know when they open up registration so out of all of the different exchanges finance is the best it's the most used exchange in the world it's the one that I use most often so definitely sign up for buy Nance use the link in the description below to sign up for Finance it's an affiliate link referral I'm not really sure exactly what I catch for that but it's totally free which is great so I'll put a link in the description for that and once you have your coin based exchange account ready and you have your finance exchange account ready you could start trading crypto currencies so let's go over how to actually transfer you know your crypto from a coin base over to buy Nance or from coinbase over to any you know other exchange let's say that you signed up to coin base and you bought some aetherium okay and let's say that you signed up to buy Nance what you want to do is transfer the etherium from coinbase over to buy Nance so to do this you want to go in to buy Nance and go into your funds so when you first sign up you won't have any funds because you'll you won't have had deposited anything in to buy Nana's but you're going to need to deposit stuff into finance in order to get your funds and start trading so to do this in my Nance click on funds and then click on deposits all right then look for the etherium in the drop down menu okay when you do that you'll get an e f– or aetherium deposit address as a side note this is really really important to remember this okay you could only send a theorem to an ethereal address every time you transfer your coins you could only send that particular coin to that specific address in the exchange you cannot change or you cannot transfer Bitcoin to an etherium address you cannot transfer etherium to a Bitcoin address or our example we're using etherium so if you bought aetherium in coinbase you need to click the etherium deposit address you know the deposit button for aetherium in finance and get the etherium address always be super careful when making deposits and withdrawals and always double check to make sure that you're sending the right coin to the right place or else it's just going to be lost forever and you won't be able to get it back if you make a mistake okay going back to our example let's say you bought your eath in coin base and you went into finance and you clicked deposits efj into by Nance you'll get a a theory 'im deposit address what do you do is you copy this address then you head back over to corn base and you put that in to coinbase do this by clicking your aetherium wallet in coin base and you click send then you'll paste your aetherium address from finance into coin base as a recipient so it knows you know that that is where you want your eath to go then you follow the instructions until it clears it could take five minutes it could take ten minutes it could take a day it all depends on the coin and it depends on how many people are using the network either way eventually your eighth you know or Bitcoin or light corn whatever if you use whatever you use will eventually be in your by Nance accounts and you can start training for other coins okay let's go over how to actually trade your crypto currencies now so once you have your crypto in an exchange all you need to do is find another crypto that you want and basically click it to start trading within each exchange there's usually three markets okay this is really important there's three marketplaces there's the Bitcoin marketplace there's the etherium marketplace there's the USD teather marketplace and then for some exchanges such as by ants they have their own token and you could exchange and trade using their own toga and with finance it's like the BnB token and that could actually save you on some fees if you do that now our example that we're using we're using etherium so you would click on the etherium market and then you would scroll down to whatever coin you want to trade let's use for this example ven-ven which is the three-letter acronym or three-letter symbol for V chained so what you do is you'd go over to the etherium market you'd find ven slash eth then chain slash aetherium and you'd click it to go to their trading screen once you're there you'll buy then or whatever cryptocurrency you want you know at the market price or you could set a limit order market price is self-explanatory basically you just choose however much you want and you choose market price and you click buy and it'll buy it at the market price okay while this is pretty easy you don't actually always want to do this because you can usually get it at a lower cost if you use a limit order so we're gonna go over you know how to use a limit order and the second thing that I want to say is that for some exchanges you actually don't even have to pay any fees if you're using a limit order but you do have to pay fees if you're using a market order so it could save you some fees if you use it right okay let's go over how to actually use a limit order so to issue a limit order you need to look at what price the coin is going for right now like the market price and you need to choose a price underneath that price so as I'm writing this then is at zero point zero zero five five four three zero zero when trading you always look at the price of the coin that you are using so in this case I'm using ether I mean I mean I'm using aetherium now once you see the actual price what you want to do is you want to put in your limit order so so usually you just need to click the price itself and it will auto fill in the limit order box but then you want to change the numbers the ending numbers to something a little bit smaller than the market price but you don't want to put it too low okay because if you put it too low then it might not end up getting there if the price you know shoots up and it just doesn't come down this is what you want to do if you want the coin right now if you're good at technical analysis and you think the coin will drop substantially then go ahead and put in your order for something much lower than the market price you know otherwise I would just keep it close to the market price to make sure that you get so once you put in the price that you want to buy it at you need to put in how much you want to buy then you click the Buy button and you just wait until your order goes through so sometimes it goes to immediately sometimes it takes a few seconds sometimes it takes a minute sometimes it takes days you know sometimes it never happens because the coin was going up in price and you know it just never went back down usually they do come back down a little though basically once the market price hits the price that you put your trade in for your order will go through and you'll get your coins okay and once you have your coins on an exchange the next thing that you want to do is you want to get your coins off of the exchange this is because the exchange actually owns the coins you don't really own the coins when they're on an exchange and exchanges could get hacked so yeah you want to get your stuff off of the exchange okay let's now go over how to actually store your cryptocurrency you store your cryptos on wallets there's a lot of different types of wallets and they include online wallets offline while it's digital while its desktop wallets mobile wallets online while it's paper while it's hardware wallets and since this is the beginner's guide I'm just gonna go over the basic thing that I recommend okay and basically you should have a hardware wallet okay the ledger nano S is the most popular Hardware wallet that's the one I recommend so when I have got mine right here and this is the safest of all of the wallets you could have it's offline super secure when it comes to desktop wallets mobile wallets online wallets and paper wallets all of these have their drawbacks you know desktop wallets mobile wallets and online wallets they are online so they're more easily hacked if you spill something on a paper wallet then you know you're screwed if the ink you know fades on a paper wallet then you're screwed you know so that's why I like stuff like the ledger nano ass and hardware wallets I feel like these are really the best they're the most secure and the only drawback is that they actually don't have they might not accept every single coin out there but they do accept most coins so it's you're probably not going to have an issue putting your coins onto a you know something like this and to get your own ledger dan OS I'll put a link in the description below I'll put in affiliate link in the description for you to buy you should always buy these from directly from the manufacturer don't I don't I want to trust Amazon I definitely want to trust eBay you want to get it from the actual manufacturer so I'll put a link in the description below to get this so yeah I would definitely order this now all right I know that this has been a lot of information so let's just go over a quick summary of everything that we learned so far at this point you should know a little bit about crypto currencies you should know what email to use you should know how to remember all of your passwords with your password manager you should be getting set up with coinbase to be getting set up with Finance you should be able to transfer your crypto from coinbase over to by Nantz and you should be able to trade that crypto for altcoins finally you should know that you should store your crypto on a wallet so with knowing all that let's go into how to actually manage your crypto portfolio then we'll go into a few things on how to maximize your security and safety and I'll give you from some tips and tricks and some things to avoid so that you could avoid some common mistakes alright let's go into how to actually track your trades and manage your crypto portfolio you want to track your trades and you want to manage your portfolio for a lot of reasons first obviously most important reason is because you want to know what your gains and what your losses are you want to know what coins you have when you bought them how much you bought them for you know what you bought them with and all of that like it's really really important like what are you doing it's your money you know the second thing is that when you get into crypto you'll most likely beginning and to use a lot of different exchanges and having a lot of different coins and keeping up with all of that stuff is pretty difficult but it is really important and it's also important because cryptocurrencies are starting to get more regulated and they are going to be a taxable event so you need to know what trades you've done so that you give it to your accountant and get your taxes in order it is a lot of work but luckily it doesn't have to be because there are a lot of apps out there so let's go over a few of the apps so you really want to manage your portfolio and you really want to track all of your trades and all of your accounts and I am telling you right now I have tried over seven different portfolio trackers and trading trackers and hands-down three commas is the absolute best one I have ever found everything is done for you automatically it streamlines it it makes things so easy and the way it's set up is just perfect not only that it also offers a lot of other features other than simply just tracking you know your trades and your portfolio so I do want to just go over three commas real quickly because it is probably one of the best things that I've ever bought with within my crypto journey basically what it does is it lets you track your trades it lets you track your portfolio see all your coins that you have and not only that but it also lets you perform advanced trading features that buy Nance coinbase and other exchanges simply don't allow and that's why I just love love-love-love three commas so much highly highly recommend it it has a great team as you can see and not only that but that's going into it a little bit more this is what the homepage looks like you could see that it has your portfolio here it shows all of the different cryptocurrencies that you own in real time it updates it for you it's very very cool you could actually put all of the different exchanges that you have on to three commas and it tracks all of them for you immediately and it's honestly it's like the best tracker the best portfolio manager the best trading tool ever I've ever I've ever come across not only that but also lets you look at other people's trades it lets you look at other people's portfolios and it just lets you do so much that I really I just can't recommend three commas enough and that's only I'm only talking about the portfolio management tool and the trade tracker tool but like the real thing that three commas shines in is it allows you to set your you know targets for what price you want to buy the COI net along with your sell target set how much you want to actually make along with your stop-loss if so lets you do all of this at once which like finances doesn't allow and it really it could really really make your trading so much better honestly if i would have got this as soon as i started trading i'd probably have like four times if not a lot more the amount of money that i have right now so i really can't recommend three commas enough i just i really really really enjoy it and i think it's the best thing in crypto right now because the exchanges are not really that good so that is three commas and that's what I recommend for tracking your portfolio and perform all of your trades and then when it comes to actually your taxes because taxes for crypto crypto is a taxable event and the IRS does you know track crypto currencies and so you do need to pay your taxes for your crypto I highly highly highly recommend getting a professional and hiring out professionals for this because it could be a long tiresome process could be very confusing so it's nice to just have people who know what they're doing and to help you out in your in your taxes when it comes to crypto so I use happy tax it's called crypto tax prep crypto tax prep comm this is the site and this is what I use this what I recommend if they're professionals they actually do thousands of people's crypto taxes every year they walk you through the process it's super easy it's guaranteed they're professionals and it's and it just makes things so much easier than actually trying to do it on your own because doing crypto taxes is incredibly confusing I recommend like I said three commas for performing all of your trades and tracking all of your tweets and I recommend a happy tax crypto tax prep for all of your taxes and that basically covers mostly everything now the only two things that are left are to go over how to actually maximize your safety and security and just some common mistakes that you can avoid while doing it when it comes to your money you want to be safe when it comes to crypto and your crypto currencies you want to be level ten maximum security safe okay like lock down here is how to do that step number one is using Google Authenticator and downloading two-factor authentication on every single exchange that you use and if you can do it on your email address also do it on there do it on your phone do it everywhere you possibly can two-factor authentication and do not use the text message for the two-factor authentication use an actual app like Google Authenticator or Alfie number two is to use long and obscure passwords with a lot of characters and symbols and you can store those on a password manager like LastPass number three is to not reuse your passwords and don't use passwords on multiple sites like don't use the same password on multiple sites you want to have a new password for every single exchange every single email everything that way if a hacker gets one password then you won't be compromised for everything and it'll only be that one thing and that leaves me to point number four which is to get an offline wallet like I said before I recommend the ledger nano s this is the best one I know of and I highly recommend it fifth way to be super secure with your funds is to make sure that you spell that you type out the name of the exchange or whatever website you're going to in Google or in your web browser and you do not get fish okay phishing happens when scammers replace one little letter in a name of an exchange or a wallet or something like that and it looks like that type of you know it looks like coinbase or it looks like finance or it looks like my ether while it looks like something exactly the same but it's not it's actually a duplicate it's a fish it's a phishing scam and you want to avoid phishing sites at all costs so always check the URL and make sure everything is spelled correctly and that it's secure and never click on ads on Google for anything related to crypto currencies I want it I don't do that I just like going directly to the sites the number six is to never install any type of browser plugins that claim to be associated with an exchange number seven is to never make any phone calls to anyone claiming to be a representative of any exchange number eight is to never disclose your password never disclose your two-factor authentication codes never disclose your private keys and keep everything extremely safe and number nine is to never make any transactions or funds to anyone claiming to be a representative a support team and I guess I'll put number 10 in there because I literally just saw this today if you're on Twitter if you're on Facebook or anything like that there's a lot of people who will impersonate authorities so there's this guy Charlie Lee who is the creator of litecoin and his Twitter handle is Satoshi light Li OTE and someone wrote someone created Satoshi lights Li t II II and they impersonated him and they said hey send 0.3 light point to this address and you'll get three litecoin back obviously that was a scam but it looked pretty legit because if you were just glossing over it you would not have noticed that there was an extra E in the scammers name and with that we'll go on to some common mistakes but these are two really common mistakes that you should avoid number one is to not send your coins or tokens to the wrong address I mentioned this before but if you send a Bitcoin to an etherium address your BIC one's gonna be lost forever vice versa or if you send an aetherium address I mean aetherium coin to a Tron address or a Bitcoin point to a Bitcoin cache address it's gonna be lost you have to send a Bitcoin to a Bitcoin address you have to send an e theorem toga North inium coin to an aetherium address they have to match up so always double check and make sure that your addresses and coins line up and number two is to send the right amount of crypto so when you send crypto you should double check to make sure that you're sending the amount you want to actually send so sending 0.01 Bitcoin is a lot different than sending 0.001 Bitcoin you know sometimes the exchange they'll tell you exactly how much you're sending in terms of US dollars but if they don't you could use something called pre vom that's PR e V comm or just type it in Google you know the amount that you're putting in to determine what the dollar value of the coin you're sending is let's go into some general and advice so these are the general tips and advice that I have for you number one probably the most important is to never invest more than you're willing to lose okay don't take out a mortgage on your house to invest in the crypto don't max out your credit cards to invest in a crypto – FOMO is real and something that needs to be avoided or controlled FOMO stands for fear of missing out and in the crypto world what it basically comes down to is you'll see a coin just mooning just going straight up and it is looking good it's looking hot and everyone's buying it so you're saying okay I want to buy that too I want a piece of that cake well what happens is you'll get in and you'll buy it but probably by the time you get in on it it's too late and it will have reached its peak and it'll probably start coming down on a correction that usually happens so don't die at all-time highs and don't try to you know jump in on a Hotpoint because you're you have FOMO and you have fear of missing out because you see it's going up and it's so hot right now so the cheapest and the hottest off wins there are crazy all the way down and right back up and then it's on fire right now it's always better to look at the graphs look at the charts and see where it's been see where it's going and you know try to look at the trajectory and make sure it's not at you know basically its all-time high when you're buying it just wait until it comes down a little bit you know fifth tip that I have for you is to D y ou R that means do your own research and that is an acronym and that's something that a lot of people in this crypto space do not do and it's really important because when it's a bull run you know when it's a bull market you could throw your money at anything like if you threw your money at anything back in early December you would be up like everyone's a genius right you know but once the bull market is over and it goes into a bear market like know all of the coins that were out there that we're mooning they're gonna go down and they might even disappear off the face of the earth you got to remember that any one can make a cryptocurrency yes even a fifth grader could make a coin so it is really really important to look at the team behind the coin look at the team behind the tog and see if it has any real-world value see if what the timeline is see what the goals set for the team and for the token for the coin and for the platform whatever it is make sure that it is hitting those targets and that it has a really good team behind it that's probably the best thing read the white paper and take all of these things into consideration before actually investing into a coin in conclusion crypto currencies are revolutionising the world as we know it right now everything is still in its infant stages it's super early and this is great news for you because that means that if you get in early and you simply hold and don't make any stupid mistakes you have the potential to maybe make massive massive gains and drastically increase your wealth over the long run however because it is so early and so volatile that also means that there is a lot of risk involved how much of your income you divert to invest in a cryptocurrency really depends where you are in life if you're an eighteen year old kid you could go all-in and it really won't make a difference if you end up losing it all and it'll make a really big difference if you end up gaining a hell of a lot this is because you have an enormous amount of time to actually grow your wealth if you're in your late 20s or 30s or 40s or you have a family and a lot of responsibilities then no you don't want to throw everything in to crypto just in case it ends up not working out if that's you it's been said at that about 10 to 40% of your investment portfolio delegated to cryptocurrency is probably a good place to start and with saying that I am done with this video this has taken me six seven eight hours now to make this freakin video I hope it was informative I hope it was really really helpful and it covered a lot I know if you stuck with me to the end you are awesome I really appreciate you and if you haven't gotten started with cryptocurrency yet just sign up to coinbase below click the link and sign up and buy your cryptocurrency right away you could get started with under you know in under 30 minutes you could probably have your own your first crypto and with saying that I'm gonna Co get something to eat because this has been a long long time and I'm gonna make a lot more videos so stay tuned for that remember you're awesome let's get to the moon together let's do this cryptocurrency is the future if you believe in that give me a thumbs up do me a like comment below and be sure to subscribe because I'm gonna have a lot more videos I'll talk to you in the next one peace out bye oh my god it is so late right now it is really late right now but super late super late oh my god I just spent over two hours doing this and now I have to redo it doesn't matter it's gonna be done no stop stop the recording stop it


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