Bitcoin For Beginners Crash Course: Buy & Trade Bitcoin Cryptocurrency | Will Bartlett | Skillshare

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Bitcoin For Beginners Crash Course: Buy & Trade Bitcoin Cryptocurrency

teacher avatar Will Bartlett, Video Creator & Entrepreneur

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

12 Lessons (48m)
    • 1. Bitcoin For Beginners Crash Course: Buy & Trade Bitcoin PROMO

      0:42
    • 2. 01 Introduction To The Course

      2:07
    • 3. 02 Introduction To Bitcoin

      6:30
    • 4. 03 Intro To Bitcoin Market Value

      3:11
    • 5. 04 Types Of Cryptocurrency

      2:16
    • 6. 05 Bitcoin As An Investment

      1:34
    • 7. 06 Bitcoin Investing 101

      6:04
    • 8. 07 How To Buy Bitcoin Part 1

      4:56
    • 9. 08 How To Buy Bitcoin Part 2

      4:08
    • 10. 09 Introduction To Cryptocurrency Trading

      6:26
    • 11. 10 Cryptocurrency Market Graphs 101

      7:54
    • 12. 11 Bonus My Top Cryptocurrency Picks

      1:52
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About This Class

Welcome to our Bitcoin For Beginners Crash Course: Buy & Trade Bitcoin!

This crash course on Bitcoin investing will teach you exactly how to get started in Bitcoin. It will show you the popular platforms to use and how to use them to successfully buy, trade and sell Bitcoin and other cryptocurrencies.

In this class you will learn:

  • What Bitcoin is and how to understand the market values
  • How to Invest in Bitcoin
  • How to Buy, Sell and Trade Bitcoin and other Cryptocurrency
  • Where and how to use exchange money to buy Bitcoin, Ethereum and Litecoin
  • Cryptocurrency fundamentals such as the name, volume, price, volatility & graph candlesticks
  • A basic introduction to the blockchain and it's importance

and more!

Your instructor for this course is Will Bartlett who is an Online Entrepreneur, Business Owner and Investor.

  • Cryptocurrency Educator and Investor
  • Co-Founder of an online education brand
  • YouTuber and Blogger
  • Founder of a Toronto video production company
  • Real Estate Investor

**This Bitcoin class provides information on how to buy, sell, trade and invest bitcoin and is not advice. Invest only what you're willing to lose just like any other investments!**

Meet Your Teacher

Teacher Profile Image

Will Bartlett

Video Creator & Entrepreneur

Teacher

Connect with me:

SUBSCRIBE on YouTube youtube.com/alliandwill FOLLOW on Insta instagram.com/alliandwill

About me:

I've been a professional Cinematographer & Editor for 10+ years and a Content Creator for 15. Over the years, I've worked with dozens of production companies and hundreds of clients from Canada and the United States. I run several media businesses including a Toronto based video production company, an online brand that's trained over 200,000 students, and a Filmmaking YouTube channel called Alli and Will.

Categories I specialize in: Video Production (Filming, Editing, Visual Effects), Entrepreneurship/Business, Investing, Marketing and Branding.

See full profile

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Transcripts

1. Bitcoin For Beginners Crash Course: Buy & Trade Bitcoin PROMO: welcome to our big corn investing course I've prepared in this course a Bitcoin 101 introduction for beginners. It'll cover how to buy. Bitcoin had a trade Bitcoin and what Cryptocurrencies are all about. So how do you buy it? Where do you go? How do you trade it? How does it all work in this course? I will answer all of these questions and more as we explore Bitcoin Cryptocurrency market graphs, market history, various other cryptocurrencies and how to buy in trade them. I've presented everything you need to know in his Bitcoin investing course for beginners. Thanks for checking this course out and I hope to see you in there. 2. 01 Introduction To The Course: welcome to our Bitcoin investing course. Thanks for enrolling. Cryptocurrency is relatively new compared to traditional investments, and most people are just starting to hear about it. But they don't understand it and have no idea how to buy or invest in it. Bitcoin became the first decentralized Cryptocurrency in 2009. Bitcoin runs without any company involved government or leader. It's a completely decentralized system, built on a revolutionary way of storing data known as the Blockchain. Every single Bitcoin transaction that has ever happened is recorded on the Blockchain. It is basically a digital ledger or ah, history of transactions. Every time a transaction happens, the information is added to the block chain, which extends how long chain of information is. Every user in the network has access to all of the transactions and has to agree simultaneously that a transaction happened and that it is legitimate. This creates a perfect system that has never been hacked. Large banks have even started to incorporate the Blockchain system to securely stored data . Bitcoin was released to the public as an open source code by an anonymous online form contributor. If you haven't seen the movie, the big short It is a movie about the housing and bank collapse and how high level executives bet against the housing market and profited massively. The 2000 and eight crash crippled the economy and millions of people were affected. Bitcoin was released just a few months after this big crash, and people believe it was created and released to solve the corrupt problems that traditional money has and investing Has Bitcoin became larger and market capsized and PayPal in 2017 and shortly after surpassing the biggest investment companies in the world, JP Morgan and Goldman Sachs. As time goes on, the block chain will revolutionize currency, information, storage and most industries. Let's get started with the course. Thanks for enrolling. 3. 02 Introduction To Bitcoin: Alright, guys, let's dive in. We have Google open. We have one B T c to USD typed in and that will bring up the current value of Bitcoin. Right now it is 6800 us. BTC is the ticker name four Bitcoin. That is the short form name similar to saying, you know, the United States dollar is USD so let's go over to a website called coin market cap dot com. You can find that just by typing in coin market cap into Google and that will be the top link right here already. Have it open so we can close this. This is a website that I used quite often to check current prices, the volume, the circulating supply and just where cryptocurrencies in general are ranking now. Bitcoin, as you can see, is ranked number one. It is highest in market cap and highest in price. It also is the oldest Cryptocurrency. It's the originals, the first Cryptocurrency created. So if we go over to a new tab and if you typed in when was between released, you can get some more information on that. But basically in 2009 it was released as open source code by an anonymous forum, website contributor and the forum person's name. If it was a person, it might have been many people, but the person who released it on the forum was Satoshi Nakamoto. And to this day nobody knows if that is a real person or if it's a group of people. So, in other words, the creator of Bitcoin is anonymous. So what is Bitcoin? Bitcoin is essentially just a digital currency. It's a way of transferring funds to somebody else. Why Bitcoin is so revolutionary, though, is because it's completely decentralized. It's a way for two users to exchange currency without 1/3 party, so you don't need a A company like PayPal. You don't need ah government or you don't need any banks. Basically, you just hold your Bitcoins in a digital wallet, kind of like an online bank account. And then, if I want to buy something or send Bitcoin to somebody else, I simply transfer my Bitcoin to the other person directly without any third party. Bitcoin is extremely secure because of the Blockchain that is the fundamental backbone. It's why Bitcoin is so safe to use now. The creator, Satoshi Nakamoto when he released this as as open source code that anyone can have access to and verify and work on. When he released this, he understood how important this was for the world. You know, this was released just after the, uh, 2008 stock market crash. As I explained in the intro, and you know, currency is one of the last things that hasn't truly been revolutionised. So the block chain, you can think of it as just a digital ledger. Essentially, it's just a digital version of all the transactions that have ever happened. So if you type in Blockchain, there are tons of different articles on what exactly it is we competed, does a great job. But essentially, unless you are going into the technical side of it and are trying to be a developer, you don't need to know exactly how it works. You just need to understand that it basically is a chain such as on the right here, where the first few transactions are stored here. All of the users confirm that those transactions happened, and then this is created and stored forever can never be changed. Then, when new transactions happen the next block is created, and it's stored just like a chain link. Once that happens, then another one happens in another one, and as time goes on, the chain becomes longer and more secure because there are more users verifying each block . And over time it is an extremely secure way of storing data so secure that all the major banks are currently hiring Blockchain experts to implement the Blockchain into their infrastructure and in the way they do banking so that they can store their data more securely. So that's really the only thing you need to understand about Blockchain. If you're just looking to invest in crypto currency and Bitcoins specifically, you need to understand that it's a decentralized system. There is no company. There's no person in it for profit. It runs completely independently of any company or government. Okay, so now we're back it coin market cap. As I said before, Bitcoin is the largest Cryptocurrency. It is ranked in number one. Right now. It has a market cap size of 113 billion at the time was making this course the current prices 6823 U. S. dollars, and at the beginning of 2017 it was $6000 less. In this, it was, you know, under $800. It has had a huge jump. You can see on the graph here just how much and let's open up Bitcoin to show the graphs here. And you can see in 2017 around the March April time that Cryptocurrency was only around $1000 or so. So if you would about $1000 of Bitcoin in March, you would have owned about one Bitcoin then, and at its current price of about $6800 that means you would have made a profit of over 600% almost 700% which is pretty incredible, considering it's only been a few months. That's really the power of Bitcoin and why everyone is going crazy about it, and everyone seems to be talking about it. It's because it's worth such a huge amount of money. At this point, it's valued at almost $7000. The other thing is, it's almost been a decade since Bitcoin was released, and now, when it was originally released in 2009 it was worth less than a penny. In fact, there's a funny article. Bitcoin Pizza story, If you want to look into this, is a pretty interesting story. There was a time when 10,000 Bitcoins were traded for two pizzas. This was in 2010 and that would now be worth $20 million. And I believe, though that was based on May 22nd 2017 the Bitcoin price at that time. So if you wanted to calculate how much 10,000 would be today, all you have to do is go 10 1000 BTC to USD. Well, that is a giant number that is, as you can see, 68 million in 2010 that bought two pizzas and today, $68 million. 4. 03 Intro To Bitcoin Market Value: all right. So now that you have a basic understanding of what Bitcoin is, how long it's been around the block train that it's built off of, and kind of the general idea of Bitcoin, let's dive in a little more to the numbers. So the current market capsized, as I said, 114 billion. That means there is almost $115 billion in the marketplace of Bitcoin and just to show you how much that is. One of the largest investment firms in the world, Goldman Sachs It has a market cap of just over 100 billion, so Bitcoin is actually more than that right now. It's larger than PayPal. It's larger than many other companies as well. It's currently at about 1/8 the size of the largest company in the world, which is apple. So it's quickly gaining traction, and my prediction is it'll pass apple in. Ah, just a few years over here we have the volume. This is just the amount of money that has been circulated in the last 24 hours. Now the max supply of Bitcoin is 21 million, and the current circulating supply is 16 million so 21 million is the most amount of Bitcoins that can ever be created, and over time we will eventually get to 21 million. You can think of this as like the gold supply in the world. There can only ever be a certain amount of gold in the world because that's just how much exists on the planet Earth. So the major difference between Let's say, the U. S dollar in Bitcoin is over time, the U. S dollar becomes less valuable and Bitcoin over time becomes more valuable, and that's because there is no limit with the U. S. Dollar. Over time, they just print more money. And with Bitcoin, though, you can only ever have 21 million when 21 million Bitcoins have been mined or ah created. Then you'll find each Bitcoin will be worth a tremendous amount of money. Some people are saying $50,000. Some people are saying 100,000. Some people are saying a $1,000,000 per Bitcoin. Now it's important to understand that you can own far less than just one Bitcoin, and there are obviously far more people in the world in 21 million, you know, in the United States is over 300 million alone. So it's impossible for even everyone in the states toe have one Bitcoin. That's one thing to understand. You can own less than one. In fact, you can own several decimals, less than one Bitcoin and again, as the price goes up, each decimal valuable, of course, be worth more. So currently 1.0 is worth 6800. But it could be 0.1 is where 6800 and a few years and an example of that is. If we go back to here and we type in zero point, let's just say 000346 BTC to USD. That will give us a price of $2.43. So if we want to make it even less, let's take up three with a zero. And now you'll see it's worth 38 cents and we can go a little further. Make that a zero, and that is worth four cents. And if you wanted, we could even go. You know, add another zero there, and that amount of Bitcoin is not even worth one cent. So if you wanted, you could own 10.6 of a Bitcoin or even less 5. 04 Types Of Cryptocurrency: All right, Welcome back In this lesson, I'm going to talk about the three types of Cryptocurrency. So the 1st 1 is obviously currencies. It's a big misconception that all cryptocurrencies are currencies, so Bitcoin is a currency. But there are other ones because remember, this is all based on computer code, so you can pretty much do anything digitally. So the second largest cryptocurrencies ethereum, it was created by the ah, creator of BitTorrent, and it was designed as an applications Cryptocurrency. And the point of it was for D APS or digital applications. The third type of Cryptocurrency is platform. So so An example of this would be a stock market trading platform ago, like a website for trading other cryptocurrencies, or could be the stock market. And so those are the three types of Cryptocurrencies. The platform's ones are in the very early stages. Ethereum has been around for a few years and has seen an insane growth in 2017. It jumped about, I believe, over 2000% and Ethereum has a market cap size of 27 billion. So it's it's a really large Cryptocurrency, and it currently is a price of 292 U. S. Dollars. The third largest Cryptocurrency by market cap size is Bitcoin cash, and I know this is confusing. But every so often a Cryptocurrency may split and form a second Cryptocurrency. And that's because everything is open source. It's all decentralized, and the people working on this are doing it essentially for free, and they're just working on it there. Developers they're contributing to it and making it better over time. But sometimes they have disagreements. And when this happens, majority rules and the remaining developers who disagreed will create their own crypto currency. And when that happens, there is what's called a hard fork. And we had one in August of 2017 and there was another one shortly after. So when the first split happened, Bitcoin cash was created. This one is currently worth $515 has a market cap size of eight billion. Now a theorem also did it, but you can see it's not in the top 10. It's Ah, 11th right here, Ethereum Classic, and that is worth just $10. So this one hasn't been doing too well, even though it still has a market cap size of over a $1,000,000,000 6. 05 Bitcoin As An Investment: All right, welcome back. So before we talk about how to buy Bitcoin in the different strategies for investing, I just want to take a minute and express the importance of Onley investing money that you're willing to lose. Bitcoin and any other Cryptocurrency are considered very high risk investments. Now, over time, Bitcoin has consistently gone up and that is fantastic. But that does not predict the future. So you could put money into this and you could lose it. All right, This is a high risk investment. So this course was not created to provide investment advice. It is only created to show you how to buy. Okay, I am not giving you financial advice on what to do with your money. What I'm saying is, this is how you do it. And this is my experience and what I am doing, remember, it's your own money. You need to invest in what you believe is a safe investment or a smart investment and speak to a financial advisor. Talk to an accountant and make sure you are handling your money well and you're being financially responsible. What I do and what a lot of other investors do who investing Cryptocurrency or any other risky investments is they invest just a small portion of their investing capital. For me, I do about 10 or 15% and I would not go any higher than that because again, I do not want to risk all of my investing capital. I have some of my other investments into real estate and mutual funds, and one not so It is very important to treat this as, ah, high risk investment and d willing to lose the money you put into it. 7. 06 Bitcoin Investing 101: All right. Welcome back. In this lesson, we're gonna talk about Bitcoin investing. This will be more of a Bitcoin investing 101 lesson and we're gonna talk about the price history of Bitcoin. We're gonna talk about predictions. People have to talk about some strategies and let's dive in. So I have Google open here and I've typed in Bitcoin price history. And if we click on this link the Wikipedia link and we scroll down, you'll see here some numbers for the price of Bitcoin March 2010. It was worth far less than a penny July 2010. It would have to eat sense then in February had hit a dollar. By July, it was up to $31 so that would have been a huge profit right there. But then you'll see here. By December, it dropped only $2. And, you know, many people were like, Oh, this is the death of Bitcoin. This is the end but law. And then, of course, in the same month it went back up. Then by April, it had jumped to $266 following month went down the 1 30 than toe 100 by June. And everyone said, Oh, is the death of Bitcoin. This is Boba Blah. And then, as you notice November the following year, it, um, ranged from 3 to $50 to $1200. All right, And then once again, December that following month it went down to $600 everyone said this was the death of Bitcoin Bubba, Bubba, Blah. And then you can just see a pattern. It goes all the way up, you know, In March 2014 it ah went to $700 and then April went down to 340. And then may June of 2016 you know, was back up to 7 50 January of 2017. It was up around 800 to 1000. And then, as you'll notice, once it hit about $1000 or around $800 that's when the price consistently started to go up . And then October 21st you know, 6100. And like I said before, it is currently 6800 so it's gone $800 more than that, and many people online are talking about Bitcoin hitting 10-K in the next few months, people are saying 15 k the long term predictions. People are saying, by 2021 it could hit 25 or $50,000 by 2025 it could hit $50,000.200,000 dollars and maybe even more, depending on how many people continue to buy into this. The main reason for the big price jumps in 2017 are because this is when people really started to pay attention when it started to go around the 800 to 1000 mark. And of course, that's when a lot of new money comes in, which constantly drives the price up just like we've seen in the past. It is predictable that at some point it will drop down a bit, and a great example of that is in September the price was at 5000 and it went all the way down the 2900. If you were lucky enough to sell at 5000 then body and again a 29 100 that would have been a really great return on investment and a really great decision. However, if you would have just held through it. As you can see, a month later, it was $600 more. So really, this meant nothing. In the long term, you didn't technically lose any money. You know, maybe in that short time you lost your money and then it gained right back. Plus more and again, we can probably predict, based on the history that this will be a repeating pattern. And that's why I believe if you're investing in Bitcoin for the long run, you have nothing to worry about again. That's not investing advice. This could go all the way to zero, but that's what I'm personally doing. And if you see value in this, then you know that something you could look into. So that is basically the price history and the strategy I'm using here is just like I explained. I'm buying into Cryptocurrency and holding for the long run. So I am holding Bitcoin. I'm holding Ethereum. I'm holding several other cryptocurrencies and I'm in it for, you know, 5 10 15 years and we'll see where we are at that point now. Of course, if there is a huge gain, I will probably take out my initial investments may be a little more, and I will consider that a bonus or ah little thank you to myself for being so disciplined and holding and not feeling the urge to trader sell it off. Another thing to keep in mind here is to not be emotional. I think it's best to not put everything into Bitcoin instead, diversify a bit, and a lot of people are picking maybe the top 10 cryptocurrencies and splitting up their money into that So they have a diversified portfolio, and that is a very wise thing to do. And financial advisers always recommend diversifying. And that's definitely something that I am doing. The other thing to keep in mind is Bitcoin has seen a huge growth, and it's quite expensive. So another strategy I have is picking a few of the very, very cheap ones, the ones that around one sent to, you know, $20. And that's because if you have, let's say $6000 you can get about one Bitcoin well, for $6000 you could buy several very small cryptocurrencies and hope that you know they explode like Bitcoin did a few years back and doing it that way. You are far more likely to have one of the cryptocurrencies explode and make several 1000% gains instead of Bitcoin, you know, doubling every year or so. Of course, double your money every year is incredible. The idea that there are so many other Cryptocurrencies there's about, I believe, over 1000. At this point, some of them have proven to be just really garbage. But if you do your research a website, you can check out that. I'm sure everyone has heard of his reddit. If you go to read and type in crypto currency, this is a really great discussion forum on all the what's going on in the marketplace, and they can do a lot of the research for you. Contribute as well. If you find something going on in the crypto world, you know, make a post and share with the people, because that is how we grow this industry and keep things decentralized, fair and free of corruption. One thing I do want to talk about, though, is taxes definitely claim your capital gains or claim your losses. Definitely pay tax on your capital gains because this is one way to ensure that the government doesn't step in and make too harsh regulations. And, you know, again, cryptocurrencies all the vote being decentralized and free to the world. And we want to keep it that way. To be sure, you are claiming any gains or losses on your taxes for Cryptocurrency investing. 8. 07 How To Buy Bitcoin Part 1: Welcome back. In this lesson, we will talk about how to buy Bitcoin now the biggest company for buying Bitcoin in the world. Right now, I believe is coined based, so we'll start there. Coinbase is a U. S company, and they allow you to buy Cryptocurrency with credit cards or debit cards. I believe I don't think they do wire transfers or anything like that. So I definitely don't advise buying Cryptocurrency on credit. That's not a very financially smart thing to do. It's always best practice to pay off your debts before you invest. The same thing goes with credit cards. So if you do choose to use coin base to buy with a credit card, my suggestion is to make sure you have the money to pay it off right away, so you're not paying the extra interest on it. All right, so basically, coin base, you just make an account. You'll have to submit some documents, like a passport and some other identification to activate your account, and then you can had a credit card. And then, from there you can buy Cryptocurrency. You can buy Bitcoin ethereum or light coin, which are the only three this exchange offers. Of course, over time they will be adding much more. Something I've noticed every single time. They seem to add a coin that specific coin jumps like crazy. So check credit. You know, try to find reliable information of a Cryptocurrency that may be added to coin base and then buying it on another exchange before that happens. And then you have a really good chance of that. Cryptocurrency really taken off and making some great gains. All right, so I'm logged into my account. Now, once you have your account set up and you've added a credit card under the buy and sell, you'll notice that you may be limited here. And I believe they start off with 100 $25 or $150 as your first week's limit for purchasing Bitcoin, ethereum or light coin. And over time you can increase it up to $1000. I've had my account open for a while, and I made some purchases, so I have mine in $2000. But I don't really use coin base and credit cards at this point. I did initially because I was only testing it out and buying just a little bit. But then eventually, I moved to ah wire transfers out on another platform. If you want to learn more about that, you can go to the website called Coin Square. And if this doesn't work for you, there's a few other ones. There's another one called Jim and I dot com. There's another one recon do, like wire transfers and whatnot, and then another one I'm familiar with is C E X dot io, and I believe for all the accounts, whether it's coined based going Square Gemini or C E. X or any other one, I believe you still have to go through the process of submitting documents. And that's because they want to make sure that the money coming in they can trust in that it's coming from you. So submit the documents, and then within a couple days, I believe you'll be able to have an activated account, and then you can, you know, wire some money. Or, if you're in Canada using coin square, you can e transfer money in, and basically you're taking your traditional Fiat money, such as Canadian dollars or U. S. Dollars, and converting it into ah Cryptocurrency using one of those exchanges. So now we're back into coin base here. So once you own some Bitcoin or theory amore light coin, those will be stored in your digital wallet, which is in your account. And there are two things to keep in mind. There is a public key in a private key, the public. He is what you would give to somebody else. If you want them to deposit Bitcoin in your account, that's the only way to do it. Because there are no withdraw codes. The other person has to take your deposit code and add the Bitcoin into that transaction and send it off. And if you want to see an example of a code, it's It's just ah Bitcoin example public key. It's basically just a string of of numbers. You just copy it and then give that to the person who's trying to send you Bitcoin or if you're just simply sending it from its a coin base to Coin Square or any other trading platform. Then, in that case, you go to the other platform, take the deposit code from there and then enter it in the place you're sending it from. I know that's a little confusing, so I'll walk you through that a little later. Also, another really cool thing is coin base has an app, and from within the APP, you can access all the information from the account you set up, including the credit card information you you input, and you can actually buy Bitcoin or theory more light coin directly from your phone. So that's really, really cool again. It's from the credit card, so it's not the best thing to do. But every single day it's becoming a lot more easy to buy Cryptocurrency, for example, there are companies like bit pay, which you can load up with Bitcoin. Store them in the wallet on their platform, and then you can turn Bitcoin into dollars and spend it anywhere, just like a deputy card. You can also accept Bitcoin payments if you run a business, which is very cool. So that's something else to ah consider 9. 08 How To Buy Bitcoin Part 2: if we're looking to sell your Bitcoin back to traditional Fiat money like the U. S. Dollar than any of the ones I've mentioned, like Gemini or Coin Square should work. Coined based does work as well for US citizens, but I'm in Canada, so that is not supported at this time. But Coin Square works great for Canadians. And again, I have yet to sail back any Cryptocurrency to Fiat money. And that's because I'm just holding for the long term, and that's the main investment idea. All right, so at this point, let's say you've purchased Bitcoin. It's in your coin based wallet, and you'd like to send it to a different platform. The platform I mostly used is called Bit Rex. Now I created this dummy account, so if we go toe wallets, there's no money in it. But for the purposes of this course is will do fine. So let's say we want to send from coin base to bid Rex. So the idea here is you go to wallets and again you'll need to verify and set up an account in order to ah, with drop. But you are able to deposit into bid. Rex without submitting any documents, you just won't be able to withdraw. Okay, so if we go here, you can see BTC, LTC and a whole bunch of different Ah symbol names for all the cryptocurrencies. As you can see here, there's 29 pages of them, so there's many, many, many compared to coin base, which has only the three. It has Bitcoin, ethereum and light coin. So if we go over to the bit rex marketplace here, you can see there are many pages here. There are just hundreds and hundreds of ah cryptocurrencies for you to choose from. All right, let's go back to waltz over here on the left, we have a plus symbol in a mine. It so plus means you are depositing money into here and minus means you're taking money out of this digital wallet. So just like coin base, this would be considered your digital wallet on big wrecks. So, bit Rex is where I buy other cryptocurrencies. The ones I was mentioned before that are, you know, a penny up to $20. This is my favorite place. I've used Polonia Axe. That's another one. But I prefer bit Rex. Let's say you have money and coin base and you're looking to put it in bit, Rex. So the way you do that is you go to bit, Rex, you go to your wallet and you find Bitcoin. And now you want to make sure that you're using the Bitcoin wallet and not any other, because you want to make sure it matches what you have on coin based on the other platform . If you try to send, let's say ethereum to the Bitcoin wallet, you will probably lose your ethereum. Or, if you try to send Bitcoin from coin base into your ethereum wallet on bit Rex, you will probably lose your Bitcoin. Alright, so that's important to understand. Always double check and make sure you're sending to the ah right digital wallet. All right, so let's say we've just purchased some Bitcoin and coin base. We go over to bit Rex. We need to get the deposit code for this wallet so we go to plus and then we can set up a new wallet that has a new address and it'll take a few minutes to create, and then you'll have a unique code that you can give to other people, and the only thing they can do with it is deposit. They will not be able to withdraw using this code. So here's the code, So double click it and you can copy it. And then from there you would go to your coin based account and you make sure you're on your BTC wallet and you can verify that because it says B T. C here Bitcoin btc, and this says, you know BTC. So you know you're using the right one. We have the deposit address from big wrecks copied, and I don't have any Bitcoin in here. But if I did, you'd click send, and then you'd pace the deposit address, you'd enter the amount you want to send and then you hit Send. It'll take about 15 minutes or so, and then you will successfully have transferred your Bitcoin from coined based all the way to your bid Rex wallet and you'll be able to see pending deposits down here, and you could just refresh it if you want. And then once you have your Bitcoin in here, you'll see the U. S. Dollar value for how much your account holds 10. 09 Introduction To Cryptocurrency Trading: All right. So now I will show you how to trade your Bitcoin for other cryptocurrencies. So let's go to bed, rex dot com. We'll have you log in and then once your account is activated, you can go to the main page, the bit rex marketplace and you'll see there are three different marketplaces. Top one is for Bitcoin seconds for Ethereum, and the third is for us d. T. So this means us de tethered. And that is just a digital version of the U. S. Dollar. So it follows the United States dollar value. Exactly. Ethereum is based off the Ethereum Cryptocurrency, and from here you can use Ethereum to trade for any other ones. And then, as you've probably guessed, the Bitcoin market is for trading Bitcoin for any of the other cryptocurrencies. So that's what we will focus on right now on the side. Here, you can see the market with all the different BTC to the other type of Cryptocurrency. That's how you know you can. You're going from Bitcoin to in this case vert coin or Bitcoin to Okay, cash. You can see the name of the Cryptocurrency here. Next we have the volume now because this is the Bitcoin market. This is represented in Bitcoin. So right now there are 9840 Bitcoins being traded for this new coin. GRS over here is the change. This is what has happened in the last 24 hours. So if we move it, you can see here that FTC has gone down by 41% in the last 24 hours. And if we move it to the other way, you can see that V. R. C has gone up by 83% in the last 24 hours. So that would have been a great coin to buy yesterday. But by no means does that mean it will stay up. This could go back down by 80% or far more by tomorrow. So it's important to do your research. Check the Reddit Cryptocurrency form and other places online. Cora is another great place that always talks about Cryptocurrencies. Next we have the last price. This was the last price that the Cryptocurrency was treated for. We have the 24 hour high, the 24 hour low. Next we have the spread in. This represents the price change over various marketplaces such as, you know, bit Rex or the price on Coin Base or the price on one of the other ones. So that's what that represents. And then we have added. And that means when this Cryptocurrency was added to the Rex so you can sort that by oldest and newest. All right, so assuming we've moved some Bitcoin into our Bitcoin wallet, that means we can start trading so we'll go to bit. Rex will go to the Bitcoin market and let's say we wanted to buy Vert coin, which is called VTC. We see it here. It has a pretty good volume, so it's been training a lot of very active. Right now, it's down by 27% which means it might be a good opportunity, Teoh, by this going because remember, you want to always buy low and sell high because it has a high volume in it. It's a low prices might be a good entry point, so let's click on Vtc and go into here. Now we're in the buying and selling page for trading vert coin, and this is again in the Bitcoin market place and you can see at the top left. Here we have the graph. This is being represented in 30 minute intervals. We can change that to one day or one hour, for example. And then it'll update over here on the right, you can see the last price, which was equivalent to $4.13. You can see the volume, which was equivalent to 33 million. Next we have the bid and the ask price, the 24 hour high of 24 hour low. I like to go on these pages because they do show the dollar value. And again, that's how kind of our brains have been conditioned, what we're used to working with US dollars or feet money in that case. So if we scroll down a little lower we have are buying and selling areas. We have the order book in the asks these air the bids and the asks and then lower down. We have the open orders, and that basically means that you order just hasn't gone through yet. If you find it is taking a while, you can press the X and on the right side and then tried a different price. This is a market history and you can see right here that you know, it's been selling, selling, buy, sell, buy, buy, buy and with more active cryptocurrencies, this will update more often. And then you have your order history down at the bottom. All right, so currently we have zero btc available. But let's say we had one Bitcoin in here. Well, right here we would put one. Then we'd enter the price as last. And because the price of this is only 0.6 of a Bitcoin, which equals about $4 you can see that we are able to buy 1650 vtc for the price of one Bitcoin. All right, so if you clicked by and then assuming that you did have it, it would go through. Now the same thing goes for selling for coin. Let's say you had 16 51 16 51 and you want to sell it at the last price that price would now be worth is your 0.98 Bitcoin and you go to sell It confirmed, and then that would go through again if you weren't able to sell or the price updated. It would sit in the open orders and you can choose the cancel it and pick a different price if you want. Once it goes through, you could go back to your wallets. And then if you just bought VTC, you can search here vtc and then we'll show here the amount you now own and then going back to Bitcoin. Then that one will update with showing zero. Now, since you've just traded it for the other Cryptocurrency, let's say you're now wanted to transfer your Bitcoin out into coin base or any other trading platform. In that case, instead of taking your deposit address from bit Rex, you'd get your deposit address from the other platform. So in this case you go to coin base, you get your deposit address and then you go to Bitcoin here. So in this case, let's say we copied over address, we paste it and then under quantity. This would be how much we're sending out. This shows you the smoke fee you will pay and then you click withdrawal. And from that point about 15 minutes later or so, you will have Bitcoin in the other wallet 11. 10 Cryptocurrency Market Graphs 101: All right, welcome to the next lesson, and this one will talk about the crypto currency market graph and how to understand it and read all the colors on it and try to analyze what's going on. So let's go into the ethereum. The BTC dash E T H one, this is Bitcoin, trading to Ethereum Over here. We can change it to whichever time for him we want, so we can go down to the minute. And this will update to a new block here every single minute. Or we can go to the one day and that represents every single one of these blocks as one day and you've guessed it if we go to the one month, every single one of these equals one month. So that's the first thing to understand. Every single one of these colored blocks represents the time frame you select up here. I like to go within the one day or one hour. So let's go to the one day you will scroll out of it and you can see Ethereum has had a very long drop all the way down to you know 0.4 where it used to be appear at 0.11 now. There's a lot of reasons for this basically, Ethereum, because it's not a currency, really. It's more of, Ah, digital applications, Cryptocurrency. That means that over the long term it should perform very well as more people start using Ethereum to build really, really secure applications because it again is based off its own Blockchain. So right now it's 285 bucks over time, 5 10 years. We should see this. I would say Go past, you know, 1000 or so Okay, so now let's go back down to, let's say the five minute and we'll go weigh in on this. So each one of these colored blocks, these air called candlesticks and the obvious reason for that is you have a block with a little stick on top, and that represents a Candlestick Wick. So they kind of resemble a candlestick. So that's where the name came from. You can see that they come in red and they come in green. As you've probably guessed, Red means the trend has gone down and green meeting. The trend has gone up to understand these candlesticks. Let's zoom all the way in and you can see here that a new one was just created. So the idea here is from the left to the right side, that represents five minutes. We know that from here to here it represents an uptrend because it's green. The idea here is the Cryptocurrency started here in this five minute segment, and at some point it went all the way down to here. And then it ended here. In the start of this five minutes, it was down here and then it finished at the top here. So let's go to this next one. You can see there's a bit of, ah top part here in a long bottom part. So because this is green, we know the top part is the last position in the five minutes. So that means the next one started at the same time, and then it ended here. But you'll notice that it does have a top part. So at some point within the five minutes of this candlestick, the price actually did go high. Then it went all the way down and then it's settled here. So let's changes to the one day and we'll zoom out a bit and and we'll look at a different one here. So it's the same idea. This is a long downtrend. They're all red. We can see that very quickly. And you can see it's, um it started here when a little higher went a little lower than ended here. So during the day, that's what happened. Then it started here, went a little higher when a little lower ended here. Same thing with this one, higher or lower ended here all the way down, Just a repeating pattern. And eventually we got to a green one. So at the bottom here it started. Here it went all the way down or all the way up at some point and then finished down here within that one day time frame. And then the next one started here, went down when all the way up, and then ended here. And that's the easiest way to understand this. They're just timeframes based on what you set to show you the market prices for that period . Now, it takes quite a lot of time to really understand this and notice trends and whatnot. But this can give you a general idea very quickly. Just by looking at this and analyzing the information of where the price is headed. It is a good argument to suggest that because Ethereum is at a low point right now, over the long run, it will surpass us again and go even further. We know Ethereum has some great developers behind it. We know it's been around for a while. We know the platform has proven itself, and it's just a matter of time until this picks up again. So this might be a great buy in for theory. Um, if you're holding long term now, if you are day trading than this doesn't really matter, because you're trading back and forth so often. But if you are buying and holding, this might be a good time to buy in. If you're day trading, then this might not be a good time to buy in because you know the price could go down. Typically, you'd want to buy when you see a little bit of green going up because you want to try to catch it on the way up again. This is not foolproof. There are many exceptions, and we just don't understand what the future has in store so these air all predictions based on the history or, you know, the information we have access to. This is why it's good to read a lot of articles in foreign posts. Because a lot of the time you'll find that the price will be influenced heavily by people making posts based on the developers releasing certain information about a new Cryptocurrency. Or that a certain Cryptocurrency has started a partnership with another company and that the company will start using that Cryptocurrency within their business. Typically, when that happens, or a government will approve of a certain criminal currency. And when that happens, of course, people will trust it, and we'll put more money into it, proving to be a good long term investment. So that's kind of the general idea study. The graphs, read a lot articles, and I would suggest, if you're just starting out to pretty much ignore all of this stuff, because the idea is to more buy and hold for the long run and just build up in your wallets just a whole bunch of ones that you believe in and then just hold them for a long time. That's all I'm doing and most investors are doing that as well. Again, I'm only investing about 10 or 15% of my total investing capital. It's more of an experimental fund with riskier investments, and I will never, ever put in all of my investment capital into something this risky. There is a huge amount of potential in Cryptocurrency. Many, many people are talking about it, and I believe the Blockchain the decentralized system will revolutionize the world and revolutionize currency itself. It'll take a little bit, but as time goes on, I believe it will prove itself. It already has of really, really strong last few years, especially 2017 and it's here to stay in my opinion, and most people are just starting to pay attention to it, And that means more money will start to come in over time. And that means the price is just gonna keep going up again. Don't worry about the dips if you're buying and holding for the long run and again as I mentioned near the beginning of this course, this is your own money. This is not investing advice. This is just what I'm doing and what other people are doing. So I'm showing you how to do it. But again, if you're not comfortable with these types of investments and do not invest in them, these are high risk, high reward types of investments. And you have to be willing to lose the money you put into it. Alright, guys. So that sums up this course. If you want to learn more about Cryptocurrencies again, check out. Read it. You can also check out our YouTube channel as I periodically put up video posts about Cryptocurrency so you can check that out at life progression project on YouTube. So yeah, thanks again from rolling and we'll catch you later. 12. 11 Bonus My Top Cryptocurrency Picks: all right. As a bonus lecture, I'm gonna give you guys my favorite topics for other cryptocurrencies to invest in. And again, this is not investment advice. This is just what I am doing. By no means will any of these takeoff based on research I've done in where the market seems to be going. I've made these decisions, but again invest in what you believe in. So let's dive in. Let's go to the bit Rex market here and we'll just go through a few here. So first off, let's go to the high volume ones. So my topics are the ones that consistently stay near the top here, and those ones will be like vert coin, the Syria neo who misko light coin. And if you'll notice if you go down to the ah you s d T market, you'll notice there's only about 10 or 11 here. And these are all the big Cryptocurrency. So right away these air probably your best bet for the safest cryptocurrencies to invest in because these have proven to have a huge volume and they're less volatile than some of the other ones. But if you're looking for truly high returns, then it might make sense to invest in a few others. So I'm pretty much holding Bitcoin Ethereum, Neo Misko Light coin dash. And then there's a few other ones that I'm taking a big gamble on, such as arc. Okay, Cash Walton Chain chain Link. There's another one called sub stratum that a lot of people are talking about again. These are ones that are not really worth anything, but they may become, you know, one of the big ones in a few months or a few years. They're very cheap, and you can buy a lot of coins. And if the price takes off, that's when you can get giant giant returns. So those are my picks? All same again? Bitcoin Ethereum Neo Misko Light coin dash sub stratum arc. Okay, Cash, Walton chain and chain link.