Cryptocurrency Investing | Timothy Cunningham | Skillshare

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Lessons in This Class

10 Lessons (42m)
    • 1. Cryptocurrency Investing.

      0:38
    • 2. Cryptocurrency Investing And Planning For Your Future.

      3:12
    • 3. Setting Up Your Exchange Accounts And Cryptocurrency Security

      6:04
    • 4. How Much do i have to buy?

      1:18
    • 5. My approach to investing in cryptocurrency

      3:33
    • 6. Diversification Versus Holding One Cryptocurrency

      2:55
    • 7. Transferring Cryptocurrency To Different Exchanges and Into Your Hardware Wallet

      4:28
    • 8. Taxes When Investing In Crytocurrency

      4:33
    • 9. Evaluating Investment Riks In Cryptocurrency

      11:50
    • 10. My Final Thoughts

      3:05
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About This Class

Bitcoin was released in 2009 as a new digital currency known as a cryptocurrency. You're here because you've done some research and are interested in the potential opportunity that cryptocurrency has!

Starting in 2017, many countries around the world recognized Bitcoin as a form of currency, it received a ton of news coverage and online interest because of the value increase of Bitcoin and the implementation of the blockchain technology in the medical, banking and tech industries to securely store and track information.

In this class your Instructor will teach you about the blockchain, cryptocurrenc and also how to buy & sell cryptocurrency.

  • How to Invest in cryptocurrency
  • How to Buy and Sell Cryptocurrency
  • How to use real money to buy Bitcoin, Ethereum, Litecoin, Neo and other Altcoins

and more!

Bitcoin's price since released:

  • June 2009 1 BTC = 0.0001 USD
  • June 2011 1 BTC = 15 USD
  • June 2013 1 BTC = 100 USD 
  • June 2015 1 BTC = 220 USD
  • June 2017 1 BTC = 2420 USD
  • June 2019 1 BTC = 9000 USD

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

Meet Your Teacher

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Timothy Cunningham

Online Instructor

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Transcripts

1. Cryptocurrency Investing.: no way. 2. Cryptocurrency Investing And Planning For Your Future.: everybody and welcome to the laws on Cryptocurrency investing. So this is what I think is probably the greatest opportunity over our lifetimes that our generation will see. It's only probably the next generation that an opportunity like this will actually come up again. Okay, so I think Cryptocurrency is an investment vehicle that everyone should consider. Why don't blind to the dogmatic view that you just have to invest in the stock market? Because cryptocurrencies too risky? The fact of the matter is, people have made life training wealth encrypt our currency. People continue to make life changing wealth, encrypt our currency, and you should at least consider this as a small part of your investment portfolio and have a strategy in place to take advantage of that. Okay, so are what is crypt. Our currency will just give you a quick run down of what it is. Sorry, crypto currency. That's a digital currency or digital assets that's uses a mating exchange somewhat, too. You know, you're not United States dollar raise. Your Australian dollar is whatever you currencies, except it's just imagine it's an emerging market. It's a lot more ball tall than your usual currencies that use everyday wife is it's not at a point now. Where could be uses as a medium of exchange just yet, because the market is quite smallish conceits. It's not even 11% of the size of the stock market. Sorry. The difference with Cryptocurrencies is it's not controlled by central authority. You've got governments that print money and date value currencies, whereas crypto currency, it's completely trust lis currency. It's no control by any government, so you don't have to worry about the hopper and flooding your money and making it with what's up with these. Okay, on the technical people want it that everyone should be focusing on as well. These blocks China case are Blockchain is basically how crypto currencies were able to be around. So basically, it's just a day centralize distributed, oftentimes, public digital ledger that is just basically used to record transactions Bisley across like many computers, so that basically involves records cannot be older retroactively without the alteration of all subsequent blocks within the Blockchain. So definitely consider it, um, people put in. This is an investment vehicle that you can put in 1000 bucks, and it could turn into 100 100,000 bucks in a. Yeah, like that's That's a reality. It's happened before, and it will happen again. Okay, so I've got a plan. I've got a strategy that I've used over the years to successfully vested invest in this market. Okay, that we're gonna go over with you guys. Now, don't get me wrong. It wasn't a smelly styling from the get girl nights. Um, silly, silly, silly mistakes, which costs me a lot of money. You nice are, well, Garbis and things that I've learned from our own personal experience that, you know, cost me about 2020 to $30,000 within the market of being Fortunoff to make it still make money, even though I left that on the table. But we're going to go over some things just to avoid so you don't get sucked into, you know, doing things that you shouldn't. And some tools that you can use the help you make better decisions. This is a once in a lifetime opportunity. I think we need to take a hold of it because this opportunity is gonna be there forever, except for those that are interested on one of one. A little bit about Cryptocurrencies too afraid to stick around and I'll see you guys in cross 3. Setting Up Your Exchange Accounts And Cryptocurrency Security: so that's going to go Are the fiercely how and where to buy hard currencies. Okay, sir, you want to get this sorted as quickly as possible? If you haven't done it before, it could be a little bit complicated. So give you a quick tutorial on how to set it up from your exchanges. The different exchanges that you could block them from and had a story you Cryptocurrency correctly. Okay, so first off, we're going to go to BTC markets. This is one crypto currency exchange. So what you'll need to do is create an account. Okay? Now, on your fern, you need to get two factor identification, Okay? Because if someone can hack your exchange account and you leave any money in there, they can take that money and you have no recourse to recover your funds. Okay, so it's extremely important that when you set up your account, you email your password, you immediately turn on two factor identification. If you don't know what this is, this is just a few Damn. What Download on your phone. It's Google two factor identification on Whenever you log in an intimate your email password. The two f this wall. You know, it'll prompt you to putting you to factor occurred. So then you go to your Google authenticator on your putting 60 it occurred and then walking that curd changes all the time. So I was just an extra layer of security on your camp, and you must get these. Okay, so you'll do that for multiple exchanges. You've got bait a state markets. You pulling, actually buying answers in exchange, you need to go through the same process full of phase. Okay, Now, when you cry you to factor card, you'll also have, like, a recovery phase or a set of numbers that if you would lose your farm, okay, and you lost your ability to access your account, you can use that secret phrase to contact the exchange to get access back to your account. And l au to race at your two factor identification. Do all of this up front guards because this is one of the mistakes that I've made I didn't set up to If I am Akhil, that sort on my campus in Cape my secret phrases you can recover your camp. It is an absolute not made it through, sir. And especially if you want to make a try. Do you wanna sell something about 21? OK, and you know that I will do it because you didn't write that any sacred Fraser. You say for Katie to be out to allow you to get into your account? That could be a huge problem. Okay, now, another thing that you need to take into account as well when you blind Cryptocurrency from exchanges is that it's not safe in each day. Okay, You need to keep everything on a legit dinner. Okay? This is where or microdot currency is became. It's safe. It's off the exchanges. It's no more. Okay, so I highly recommend getting one of these is, uh this is quite an old legend that are now this. What if we all died of ones? I mean, this older. That's fine. It doesn't stall crypto currencies installed some of them, but a lot of the other cryptocurrencies that will have they'll have like, a marble wall. It's that you can install when you're firing to KP cryptocurrencies there. All right, that's extremely important. Also, make sure you get yourself a legend on the West. You don't particularly have to have one. If you've only got a small amount of Cryptocurrency can keep it in like a Web bullet that you know you have a sacred fries to get into. You know that they're generally pretty secure. But if you're investing quite a bit of money and cryptocurrencies like I am, you really want to invest in one of A's. It's a couple 100 bucks on its that pace of 19 your your funds protected. Okay, so you get all that set off on our recommend for your sacred phrases. And even if you lose your legend IOS, you'll have a bunch of sacred phrases that thistle prompt you to enter into the legend and O. S. What will that damn on the pace of pay bond? What the past cards and secret phrases a fool like. Okay, the secret phrases of my legend us. It's special. Kurt. Here is my two factor identification, recovery for finance or whatever exchange it is OK, so and stored on a site, did you have it? If you don't have a safe get to pace of pipe on, rotted down to separate pace of pipa and stole them in two separate places in humbler so you can stole one in your birth on one in your desk as well as having this is a back off as well. Because the last thing you want to do is have a lot of money See, sitting on your you know, you're legendary OS Were you silly crypto currency lost your pa skirts and you can't access it because you lost your legend. If all delors this, I could buy another where Oh, my Cryptocurrency is up in while another legend and West Let's just say someone stolen, OK? I could buy complete another one that would be up to get into anyway, because I can't They don't know my password, but the time order another one and get it. I went to the sacred phrases that I used to set up this legendary on. I'll put it into the new legend. I know that I purchased and then all my funds will be electronica transferred to my wife days. Okay, so it's really, really useful. Also believe that you can, you know, going to legend endures web sought and let them know that you know, it's been stolen and stuff like that when you enter your secret prizes, you walk you fund sort of thing. So get all of you account set up on different exchanges. I use bay to ST Markets. Queen Sports also used finance on a few others as well. So I get a lot set off and put down your sacred pause cards. You don't need to block repair currency. The stage would get everything set up just so that when you do purchase the currencies, you don't go through the process off setting up your accounts. A lot of these exchanges will require you to have a photo of yourself with your passport and a photo of you next to it and you signing and dating it and sending that It is another form of proof of who you are to these exchanges, just another layer of security. So there's a few hurdles that you needed jump jumper of all. They shouldn't take any more. Gonna wait to get on multiple exchanges. But I highly recommend is getting out of the way as quickly as possible. And then if you go invest, especially if it's it was more than $1000 base by a legend on the West and then you are ready to go OK, 4. How Much do i have to buy?: all right, I've run. So the minimum amount to get started in Cryptocurrency. So a lot of people want to find out, You know, how much do I need to invest cause within the stock market in Australia, there is a minimum investment of $500 per apostle. Okay, Possibly Spain's Humana shares that you're buying, all right, within the Cryptocurrency, the great thing about it is that it's more accessible to the average investor. Okay, so whether you put a lot of money or a little money, a little bit of money, it doesn't really matter. You'll be Abdul investing in this market so you could make a $1 investment encrypt our currency, you $20 investment, $100,000 investment. The reason our minimum amount. So I recently just made 100 and $50 investment in Bitcoin. I wouldn't have been able to do that in the regular stock market. Golden Bay. Impossible, sir. Criminal currency is definitely more accessible, which is one of the great benefits of this. You know, if you don't have a lot of money, it's great to get started with because you invest This little was $1 all right, It's our Yeah. There is no minimum sort of amounts that, you know, you have to have to buy. OK, so don't get too caught up in You know how much you want. How much have to invest? That's not really a are an issue here, unlike the stock market, okay? 5. My approach to investing in cryptocurrency: with an investment into this market. I believe the best way to approach it is that you want to buy and hold the entire market on rain. Best on a regular basis. OK, so there are 80 ETFs or exchange traded funds tracking crypt ER. But in my opinion, it's best to just scatter it out amongst the coins that you like best. Okay, most of my portfolio is made up of Ah Bitcoin. But I do have other cryptocurrencies as well. All right. And yet buy and hold the entire market and you want to reinvest regularly. Okay, Because you'll notice would be queen. He'll it's quite volatile. All right, so you have a look it over the last year, you've seen massive swings. Okay, sir. It's doubled in price. It's lost 50% of its value. It's all 70% of its value. Onda, we still haven't come back from where we were all the way and yet we still haven't come back from where we were all the way in 2017. We still haven't reached those highs as of yet. Sorry. The best way to do it is by but regularly by. So if you said a sketch you for yourself, even if you will, by right at the top of this market. And you said I can every frame on, so I'm gonna invest $150.150. He also you catch some Lear's and you catch some Harr's. What that'll do is it'll average out your price, so the price that you paid per Bitcoin will even out. Based on the volatility of the market, you'll be paying less pressure, and it's just a nadie away for you to deal with the volatility on So what was stressful? So regardless of what the market is doing, you consider yourself woman invest X amount of dollars every three months, no matter where it is, no matter where it's process sitting. So you like a trading and investing machine. All right, we constantly investing in your specific cryptocurrencies. You believe how potential and, you know, getting too caught up in, You know, the daily prosection and everything like that. You want a blind hold the investments for a long period of time. As you can see in short periods of time, you can see extreme volatility, okay, and it's sometimes it'll work at good few like if you got in here and out of the top, that's great. But it's very rare for you to get in right at the bottom, right at the top. It is very difficult to do that. I wouldn't suggest trying that, as part of your strategy, would continue to buy them over a period of time lowering average coast. Okay, Sorry. You want to invest in this market with a long term year, but only put in what you're willing to lose because, you know, obviously it's a very speculative investment. Unlike stocks, there's no technical analysis. You can't say what these companies earning or anything like that. Okay, Iet's it's an experiment. Sorry. You want to, You know, said that if you want to set aside a bit for yourself to psych, I want to set aside $2000 that I'm gonna invest over the last year. You can say every month on you invest $250 or whatever it is. OK, so over that, yeah, you would have got some highs and you've got some wires and average your price, and then you can just sit on that for a few years. and, you know, say what happens, Okay, So just actually less exposed to the volatility. If you would have invested $100,000 right here at the top of the market and you didn't leave any money on the side, you'd still be sitting in a loss years later. All right? So, yeah, dont invest a little bit at once. Is my blast old invests, You know, a certain amount of money at certain stages, so even at the volatility not 6. Diversification Versus Holding One Cryptocurrency: So we're just gonna go of us. Um, you know, the differences between, you know, diversification versus sticking with one Cryptocurrency and which one is right for you. So, you know, more investment strategy is to spread it amongst a few different cryptocurrencies in boy over time. But obviously, no, one way is right for everyone. Sir, this will just give you a quick run down of you know, the difference between diversifying among a bunch of them and buying one particular crypto currency. So diversification amongst cryptocurrencies will reduce your volatility and overall risk of investing within the market. Okay, you might say less profit about also let west losses as well. So if you haven't mixture off, obviously the talk cryptocurrencies like Bitcoin and ethereum and spread among some other cryptocurrencies that you've done some research in the think have some great potential. Okay, you're gonna say West volatility. So it's just gonna be you know, the saved is less risky, and you're gonna say as many swings, investing in just one Cryptocurrency is just gonna magnify your gains and losses. Okay, so if you would you invest in one Cryptocurrency like a donor, for example. Okay. When it goes up, you're going to see a massive Messi sparks. So you're gonna make a lot of money. But when the market guys Daniels are gonna lose a lot of money Like I said, by investing in one curved our currency, you can see much greater returns be also on the other side of that You're gonna take on a what, more risk. Okay, so it's not for you to decide which one of various is gonna best suit your overall strategy If you have other investments. Like I do amongst, like, the stock market businesses, crypto currency, whatever you've got invested, invested yourself in maybe as a part of Europe for investment strategy, you can afford to say as part of your overall strategy, not just in cripple kinds. Okay, I'm just gonna invest in this one, Curt our currency and just have extremely Horace play hell and might fit into your overall strategy nicely to do that. If you're a little bit risk of us, that might pay you dio obviously spread it out amongst a few different cryptocurrencies and do it that way. So the vest flying will obviously suit marries people. But if you're a very Horacek individual or part of your overall investment strategy. It's gonna pay you toe take a particular risk on Cardona. Cut honor, for example, which is an investment investment of Isis is just a pure example. Then it might pay you to put all of your eggs in that one basket. Okay? Because it gives you a potential for a much greater return. All right, sir. Yes. That's the three things that you've got a way up. Obviously. Just remember these two things. Diversification limits your risk focusing on one Cryptocurrency will magnify your gains but also magnify losses, while so you have a great potential for return. Which is why it's attractive for investing one over diversifying. No one is better than the other. That's up to you to decide which one is gonna suit you best. Okay? 7. Transferring Cryptocurrency To Different Exchanges and Into Your Hardware Wallet: All right. So we're gonna just go have had to transfer money from different exchange accounts. Or right now we're in my coins. What account? This my own personal points, but account here are other. Have drawn some trading on on this is beta see markets where I have another account on and some other exchanges. So once you buy your Cryptocurrency and let's just say you wanna trade it toe another exchange, maybe you want to do a trade there on this particular Cryptocurrency isn't available on coin spot for these on Beatty. See, markets. Maybe you noticed that BTC markets phase for a specific Cryptocurrency loa. So you decide that it's worth to transfer from your wallet in one exchange to wallet Another exchange and I was just gonna grab it how to do that now. So this will be a Bitcoin more from this exchange. OK, so just opened the Bitcoin wallet, okay? And then you have a few options here, so you'll have obviously be quite more in your balance. So there's not much here because I've transferred. Roll out. Now you have send Bitcoins of this. You want to send it somewhere we're safe. Bitcoin the transactions in your history. So if I want to send Bitcoin, I just click on this one here. Okay? The amounts that you just click send available. Okay. Obviously, I don't have enough to send because it was so this is just the fee from the last transaction, but this will give you a example. Now, this bay taste a payment address, right Will be your Bitcoin address on this particular exchange here. So this is Beta see markets when you're looking at now, so I want you to log in. You just click on your be queen bullet within this exchange, OK? And then you'd click on Receive. Okay. Will you be taste a wallet address on this exchange and you just copy and paste it here and then into your to factor or identification card? All right, Now, what you want to do is you want to make sure it's gonna be a long payment address to be about 2030 numbers. All right, So you want to make sure that once you copy and paste it into here that you double check all the numbers from your BTC markets, Address matches What is here? Okay, Because if you make a mistake and you copy and paste the wrong address. Or maybe you've got some spyware on your computer and it's changed a number. So someone's trying to steal your Cryptocurrency. Once you send that transaction, it is gone and you're not able to recover. Okay, so when you transfer a copy and pasting in here and make sure that two addresses match completely and then into your to factor or identification card in here Okay. Obviously you can send it by SMS. Obviously, like winter before you authentic heart occurred. Once you double check the payment address, put it in there and click Send. Okay. It's the same theory as well. If you want to receive Bitcoin. So this is your Bitcoin address. What address for this exchange. Ok, so this is the Cryptocurrency will in exchange. This is not secure. This is just to try it to one from and who you put it in cold storage for maximum security . So if you want to receive crypto currency, you would just copy and paste this card If you want to send it from bay Tasty markets to coin sport or whatever exchange using and then you'd on bait a state markets here you would click send, Obviously you want to send it to and then I'll ask you watch your Bitcoin address. You want to send a lot that you and you would copy and paste this in here and then full of the same prints will double check every one of these numbers. I make sure the role, you know, perfectly fine. Everything's double checked, and then you would send it over. Okay. Now, the same principles apply to any Cryptocurrency use. So big things to be careful with that. Make sure you selecting the right option so either sent or received on Always, always, always double checking this Bitcoin address here to make sure that you know you're getting your funds. Now, once you have things in cold storage, like whenever before it's the same principle if you want to get it off your exchange. Okay. So how you would do that is you would send Bitcoin on the payment address will appear on your cold storage device like your Nana s. Okay. When you open it, you'll have your you know, a payment address. If you want to receive it, you click receive, and you would just copy and paste your payment address in here. And then you can put it in cold storage where it's safe. It's off the Internet on that can't be hacked. All right, so are bigger guys. That's how to transfer money to one from exchanges and into your, you know, you're cold storage wallet. 8. Taxes When Investing In Crytocurrency: So what is going to go over the basics off? You know, recording your transactions for your taxation history. This will vary from country to country. So please check within your relevant jurisdictions whether this is correct or not, because I know in America from where I'm in Australia, it's very different. Okay, So a couple of things that you'll have here is you can see your history, and you can download it as, like, a CS file. All right, if you wanted to do that, a lot of exchanges don't have that capability. So what I want to do is I like to actually trans transfer, obviously old days records and put it in an excel file. Okay, so here we have one Excel files are just get this help for everybody here so he can see the Excel file. So let's just say we made a trade on BTC markets or obviously coin spot. You can just transfer with the start. I'm just copy and paste it over. We can view the specific details of that transaction they can put in the date you trade that what you bought it for and everything here and then set up yourself a separate column in Beatty. And obviously these excel file as well off when you actually sold it more you sold it for. So then when you take this to your accountant, okay, they're gonna have a good record of you know how much touch you have to pay. Roughly in every country, it's about 30%. Okay, I think it might be a little bit less than that, but I prefer to estimate on the higher end. Okay. Sorry. Another thing to be aware of if you transfer money crypt at the crypt are is taxable. Okay, so if you even are you'll funds in Bitcoin have made transferred to your country's currency , if always to sell Bitcoin. Okay, were transferred to another currency, Bryant. Then that's a taxable event. Okay, so I like to avoid all of that hassle by just buying and holding one specific currency for a long period of time. I'm not gonna buy into anything, but I'm gonna trade for something else. Just because it's a massive headache when figuring out your tax liabilities. Okay, It's are all that information, you know, you can It can be found. You can see your history and you can obviously end of financial year balances. You could just get that here and then that'll bring up a transaction of all of your records . And then you can just copy and paste it into excel files are I liked This is why I liked it . I don't like to trade and buy and sell jewels on because you're gonna be It's gonna be a Norman if you to Cape Trackable the taxes and everything in my sure professional trade off . I don't recommend trading. It'll all right, Because it's very hard not to get emotionally involved when saying big swings and you can make bad decisions. Okay, so yeah, get in Excel file of what currency you bought Just putting Bitcoin or can't like what Cryptocurrency bought Bitcoin What currency used to purchase it Was that Australian dollars ? How much did you actually buy that crypto currencies? So as you can see here now, 3100 whatever it is. OK, so I haven't actually sold anything in knees, but yeah, and then you just copy and paste. How much of that kind seaboard. So would have bean, you know, whatever it waas okay. Andi? Yeah, just keep a nice record You don't ago at the end of the year and then have to figure out all of your taxes and sit down for hours on end. Just when you make a trade put in your Excel file and then at the end of the financial year , if you sell, okay, send all that he a tax accountant and that them figure it out for you. Okay, so, yeah, I heard that house with your tax. Any tax questions? Um and this is one of the reasons why I recommend the strategy of obviously buying and holding it and not selling every year because, you know, keeping doing your taxes, ever. You gonna behind playing more taxes if you buying and selling frequently. I just don't know if the most Dr Geeta to take that, sir, when you bought it, capable of transactions when you saw people with transactions or if I was to block Cryptocurrency. Now, when I go to my tax accountant in a couple of months because in Australia we do it in July . I don't have to give him any of that information because I haven't sold any investments that at night even the investments that I made last year. I haven't sold any, but the investment once I saw. OK, so if next year often July 30 here in Australia, always to sell my Cryptocurrency remains on the next, you know, obviously financial young, which will be next year in July only to report that to my taxi cam and send in this excel fall. Okay, so hurt that hopes. 9. Evaluating Investment Riks In Cryptocurrency: So I feel like I've talked up Cryptocurrencies quite a bit already. But it's about time that you guys on the sea and the risks that are associated with this because regardless of what anyone told you, there is a risk associated with any investment. Okay, Now, the term risk can scare a lot of people, but it's often Lee misunderstood. Okay, so I want to give you an explanation about the risks within this particular market and this little plateau, any market. Okay, but this market in particular, okay, but it'll just very upon its application. Sir, when you're looking at the screen that I'm looking at now, which is quite market cap Mrs. Listing 5406 trip their currencies That currently a round the moment during, You know around that working some of the most scams. Okay, so are some of these 5400 that you work out of scams now estimate that half of the miss cams I could be wrong. Could be 3/4 could be 1/4 but and the end of the day, it doesn't matter. Okay? You shouldn't listen to May just because I say that if 50% of these scans. It doesn't mean you have to do this sort of race and yourself. But the reason why I say risk that our associate with Triple Kansi's it is quite a small market. All right, sir, the risks. Small market, unproven technology. Okay, it has use cases, meaning it can be used in the real world. But it's not currently being in the used in the real world yet, at least not on the scale that would justify this market. Cappio. Okay, so a lot of these cryptocurrencies are being used by what's the big companies within the, you know, real world. But a lot of them are a little bit of speculation based on Okay, what can this Cryptocurrency be useful? Like? A theory means being used smart contracts like a few rings being useful. Smart contracts. Bitcoins saved us a store of value or a consul turned. If Ripple is in the banking space, tether is like peg to the United States dollar becoming cash and Bitcoin SV. They're basically scams, in my opinion. Okay? And again, this is just my opinion. Okay, so you have to be very careful when you listen to people on. I say one thing you have to think critically about what they're saying and why they're saying and I'm no different. Okay? So don't just think, okay? This is what team has said, and I and this is the way it is. Now you have to verify what I'm saying. No, you can't just say OK, Cool. Tim said Bitcoin cash in big coin SV or a scam on day are because What if they know? What if I'm wrong? You know? I mean, what if be Queen Cash is has a lot of use cases, and it is founded by fantastic team, and I'll just hold it. There is not. You have instantly looked over that. I'm just going to racers, some other cryptocurrencies in the use cases. So you have to be very careful about who you listen to her when it comes to investing. Okay, so I'd like to tell anyone that, you know, yes. Listen to me and take my experiences for your own benefit. You know, based on the mistakes that I've made and the things that I've done while. But also a question, what I'm saying is, well, you know, I mean you don't want to just take what I'm saying at face value. Okay, so becoming cash Bitcoin experience a scam. There's a lot of good cryptocurrencies that are working on some great things, like you've got V chain as well, So v changes. Offense is a great Cryptocurrency in my point of view, there working a lot of fantastic things at the moment that can revolutionize certain aspects of the global economy. So little would be Chinese doing at the moment is you know they're solving if you've got can defeat goods. For example on Let's just say you bought a Rolex on you know enough that Rolexes fake or it's good or not, because they all look the same. We'll be changes using Cryptocurrency and Blockchain to verify which you know which paces off in our Rolexes are actually legitimate, in which on Okay, now that's just an example of what this Cryptocurrency is aiming to achieve on that it's a broad basis. Example. I'm giving you okay so you can see how all these will have different use cases that could be useful within a global economy help benefit everyday lives. Okay, Now, the risks associated with these is. Obviously, you know, it's unfounded. Based all these coins, Y'all you can say them a small companies view bases penny stocks is my best of bus view. These is penny stocks that you're viewing on the stock market wherever you are with that bay. You know, Japan, wherever you are, America or Australia, I encourage you to view all these cryptocurrencies penny stocks, companies that have huge potential. But I unnecessarily making profit. Okay, so all of these companies on corn market cap are trying to achieve, you know, some sort of innovation. A lot of them are trying to scam years. Also, it's up to you to sift through a lot days and find out which ones are trying. Teoh actually do things that are gonna, you know, give you a return is an investor and which ones are just trying to scan you Because there's a lot of hot air and crypto currency because it's the next call this thing, you can make you rich. Okay, They're feeding off the fact that it can make you rich and look, it can Cryptocurrency can make you very rich. Okay. But you also have to understand that researcher associate with that and a lot of these five pass and companies here and taking advantage of the fact that a lot of people here, a lot of people in the market of looking at it going, you know what if we just help people, this skin do Well, they're gonna believe this, and they know best that company. Okay, so there's a lot of big mirrors that can happen in this market and get people excited. All right? So yeah, just remember the risks. These companies are making any money. Okay, The script, our currencies, I use cases for real world application. Okay, so, yeah, some of them will most image issues, cats. It's for real world application. But there's a lot of these Cryptocurrencies hell, that ah currently being implemented and being tested for applications and uses in every war economy that we use Friday. Awas. Okay, I'm not going to tell you which 1 may czar, because which one by our is absolutely irrelevant. Because if you don't invest and just listen to someone else, you know, invested investing a whole gambling, Okay, so are yes. Some of these cryptic ises are being tested with real world businesses have always to tell you that. Okay? Yes. This this company he is doing use this one this Cryptocurrency he is doing this also tell you right now, Okay. What coins? Doing this with the such and such a company. A lot of people look that and go. Well, I'm going to invest in them. That was great. And they're going to invest in that blonde. They will what I've told them and that's not my goal. Okay, Andi, that's not a good habit to get into. It's an educational lesson. And I don't want to tell you what to invest in. Just know that a lot of these 5406 companies are testing reward applications with businesses and implementing things that are helping businesses stream on their processes, solve problems. I don't want that good stuff. Okay, so that's really all you need to know our to a laced, have looking to the market and uncover any maids or anything in a space filled with in this market. Sir, if you're going to invest in this market, it's up to you on standard Kate. Which one do I think is gonna make it to a real world application. Which of these cryptocurrencies and a part of this new technology do I think is gonna have a advantage in the real world and invest accordingly? OK, sir, I'm not gonna tell you what to invest. I can. I think anyone that tells you what exactly to invest is full it. Okay? Because as I went over in my previous stock, my of course. And I want to tell you what, how to invest, what to invest in. Okay, Because everyone's investment goals are different. Stand by this in crypto currency as well. I'm not going to tell you invest everything in Bitcoin because less risky, given the rest of them. Because you know what? You might be the top dressed. Let's take a water risk, you know? I mean, sir, I'm not gonna tell you that the whole idea behind this is just give you an understanding off the wrist behind this and to give you the knowledge and skills available to evaluate which how you want to invest in this market, if you will. And also like, how are you gonna research? You might be saying Okay. How do I raise searchable these individual businesses while if you look it like, let's just pick out a random Cryptocurrency just give you an example. Let's guard her. Let's just go to page her gauze. Thanks. 100. So if you want to look into wax, for example Okay. And you wanna race searches, Cryptocurrency Tovalieri, they risk you look at that website. Okay. But also, that's not good evaluation method to look at the risks because you want to say Okay, obviously, who's on that website? Who's the tain? You know, where is the 10 come from? What's attains experience? What is this, Cryptocurrency? What is this time actually trying to achieve? You wanna look these people up on linked in Okay. You want to find out where they come from now, link, then Obviously people can put it in what they want in linked in. I can put in that I'm a CEO of a Fortune 500 company right now, but it's not gonna mean absolutely anything because how I couldn't bay. But I can just ride in there. Okay? So you need to take this is what the hard thing is about valuing wrist within prediction. All particular companies within the market. Okay, you already know Cryptocurrencies are high risk investment on if you factor in on top of that. OK, wax. Okay. Wax might be ranked what? 200 in the in the Cryptocurrency Market cup. And then on top of that, you have to look in. Who's the tame Won't work of that. What's that? Passport. J J R. Where were they born? You know, who were they working in the past? Okay, this if I say they work at this school, you want to check out that particular school and asked, You know, the doctor, James, Or, you know, this software developer actually go to your school between these sorts of dates, so you would actually double check You don't just look at this website and say that you've done research. You want to look at that on forward? Back with. Okay. Where does this person say that they have done Well, what have they done? And just work your way back and just find out much as much information as you can about the team, make sure they're a legitimate team. They're trying to do right thing. The menu. We're looking at the currency not only on their website, but on other third party platforms like Google and find out exactly what they want to do. All right, So yet just being mindful, You know, a lot of people didn't think that they've done races. When I just looked at the website by this naturally case, you work your way back and finally, okay, where they come from, what they trying to achieve and work our way back from there just so you can make it send investment. Because if you're just to speculate, you'll find yourself in a situation where Okay, I invested in this company best on someone else's opinion. I found myself in this situation before. I really don't know if they're doing the right thing by me. Okay, so you unavoidable that when you want to make an investment decision, you're gonna be making with confidence where that's ah Horacek investment, not you want to make sure the you know everything about it. And if it's gonna foul, you know exactly one of the reasons wildfowl, you don't invest in this company and think OK have made this truth as indoor investment based on someone else's opinion, and I don't even know if their illegitimate saint okay. If you want to make him investment, you want to find out everything about the company or that you're investing in. Okay, so just definitely take that on board. 10. My Final Thoughts: some of formal thoughts on Cryptocurrency for everyone is to tread carefully figure out your strategy and stick to the strategy. Don't get emotionally affected. Could be very difficult. And that is one of the one of the hotter parts about being humans. And investing, especially involves all markets. A little people through at the Martians. Get the better of them. Sorry. You know, capable head. Have a strategy. Stick to it, Andi. You just try to keep you. Keep your head in check. Don't put in any more money than you can afford to lose its The volatility of your investments in this market is in our dark SAR. Take it seriously. They prepared to see wild swings h ways. If anyone's invest in the stock market before the volatilities About twice of that, sir. Yeah, just keep that in mind. Stick to a plan, Have a long term strategy on Have some fun, all right. Another tool that we will garb. I ease the fear and great index So basically the fear and great at Index er this just captures people's emotions within the market. You know how they're feeling and that sort of thing they can say last month when there was an extreme feel. If within the market it was probably the best time to buy. All right, emotionally, humans stuff this up over time. That's you could say last month it was sitting at $8000 now we're we're up to 15,000. Those Australia inserts almost more than doubled in price within a month when ever homeless , scared and afraid on maybe that both could be the money. People would have dropped down a bit more money at that point in time that probably sitting in a bit of profit at the moment. But because the swings is so violent, a lot of people see when somebody like this is toe happen, all these big drops is, you know, terrible Karam's to invest in that just being good. Maybe that will 60 to 70% of their investment. Putting more down just fills him with dread. But usually there's times, but you are just filled with dread on, and you just a really sad is usually the best home. The boy, um, so are definitely keeping on the fear and great index at the moment. I'm not gonna be purchasing anymore, Cryptocurrency because people in quite Grady and I think if you know things continue the way they were going to see a pullback and all public bar, then when you know people are a bit more fearful. Might be a bit of a cliche on our Warren, Buffett says. Be greedy when others are fearful, but it's definitely true. Laura dat Warren Buffett would ever invest in something like crypto currency. But yet that definitely applies here as well. So just keep your Martians in check. Remember your long term strategy on when opportunities come along to buy more currency to discount than Darfur. But, yeah, take care of their guys. Big camp within this market, um, at all. See you certain?