Cryptocurrency Investment and Retirement Planning with Bitcoin/Altcoins on Poloniex and Bitfinex! | Jerry Banfield | Skillshare

Cryptocurrency Investment and Retirement Planning with Bitcoin/Altcoins on Poloniex and Bitfinex!

Jerry Banfield, Teaches 105 Skillshare Classes

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20 Lessons (2h 28m)
    • 1. Cryptocurrency investment and retirement planning intro

      4:31
    • 2. The bottom line upfront buy and hold the whole market

      8:14
    • 3. Reviewing Bitcoin and Cryptocurrency prices from 2013 through 2017

      15:12
    • 4. What is the minimum amount to get started?

      10:32
    • 5. Buying Bitcoin and Ethereum on Coinbase

      4:08
    • 6. Price averaging with daily BTC and ETH buys

      5:04
    • 7. Depositing Bitcoin from my Coinbase wallet onto Bitfinex

      5:03
    • 8. Funding my Poloniex exchange trading account with Ethereum from Coinbase

      3:33
    • 9. Bitfinex tutorial featuring my first trades

      12:42
    • 10. Buying into the top altcoins on Poloniex

      16:08
    • 11. Risks of investing in crypto

      11:49
    • 12. When and how to cashout on Bitfinex

      7:07
    • 13. Is the investment liquid and is there a penalty for withdrawing?

      3:32
    • 14. Diversification versus sticking with one cryptocurrency

      6:01
    • 15. Basics of paying tax on transactions

      4:56
    • 16. Avoiding trading, exchanging, and speculating

      7:11
    • 17. Where is the price trending for Bitcoin and altcoins?

      3:40
    • 18. If already invested, stick with one or trade into others?

      7:00
    • 19. Which digital currency is the best to buy and hold?

      6:02
    • 20. Are there potential risks to my bank account?

      5:21

About This Class

What is the most effective investment strategy with cryptocurrencies like Bitcoin, Ethereum, Dash, Ripple, and Litecoin? How can a cryptocurrency portfolio on an exchange like Poloniex be used to build an incredible retirement savings? Watch this class to find out! Which wallet do I use to buy Bitcoin and Ethereum to do the strategies I show you here?  I use Coinbase at http://jerry.tips/coinbjb.  If you use that link to fund your account with $100 bought or sold in BTC or ETH, you and I each receive a $10 bonus in Bitcoin!  For getting started, I think Coinbase is the easiest.  For investing $10,000 or more I recommend Bitstamp or Bitfinex.

In summary, the best method for making the most money with the least risk seems to be to bet the entire market and HOLD ON instead of trying to trade or speculate. Imagine if you had a chance to invest in the stock market when it first opened. Just betting the entire market would virtually guarantee success regardless of which individual stock performed well. In 2016 I tested this strategy and was very happy to watch the Bitcoin roll in as many altcoins I invested small amounts into grew rapidly. If I had simply left everything in there instead of making a typical new investor mistake of trying to trade and make even more, I would have many 3 to 5 times more than I originally invested with very little risk. The one big win I did get was betting it all on Dash which to date has changed my $10,000 investment in a masternode into what today is worth $72,000 AND pays out $100+ every week! What if I had choose poorly on another currency and lost all my money? What if instead I picked PIVX where I could have made 100 times my money and turned $10,000 into $1 million? Today I am ready to begin a long term strategy that will allow me to participate in all the greatest gains while minimizing my risk in any one digital currency. As I am listening to Unshakable and Money Master The Game by Tony Robbins, he consistently emphasizes the value of a balanced index fund as one of the most effective ways to invest for the average person interested in making a profit because this requires no skill with trading, no need to continuously watch the market, and makes holding on during a down time easy. In accepting reality, I see I have no time or energy to do trading. With all honesty, I am not smarter than you reading this or the other traders. I do not want to just compete and fight. I want to put my money into something I believe in and just leave it there indefinitely as a retirement investment package. The simple strategy I am starting to execute is to invest .5 Bitcoin into the top 100 currencies on Poloniex and other exchanges with whatever masternode rewards I get placed into Bitfinex which just has the very top of the digital currencies. Over time this should allow me to pay the least tax and get the highest reward with the lowest risk. If you would like me to make a complete online class showing each step to do this, would you please leave a like on this video? If over 1,000 people leave likes beside you, I will do live streams showing my progress each month! Here are the top 100 cryptocurrencies as of April 13, 2017 according to CryptoCurrency Market Cap.

1 Bitcoin
2 Ethereum
3 Ripple
4 Dash
5 Litecoin
6 Monero
7 Ethereum Classic
8 NEM
9 Augur
10 MaidSafeCoin
11 PIVX
12 BitConnect
13 Zcash
14 Golem
15 Decred
16 SingularDTV
17 Tether
18 Stratis
19 Dogecoin
20 Factom
21 Waves
22 Steem
23 Iconomi
24 DigixDAO
25 GameCredits
26 Lisk
27 Stellar Lumens
28 First Blood
29 Bytecoin
30 Round
31 Creditbit
32 Ardor
33 BitShares
34 Siacoin
35 Peercoin
36 Melon
37 Emercoin
38 Nxt
39 Komodo
40 ZCoin
41 Byteball
42 PotCoin
43 Storjcoin X
44 Bitcrystals
45 Namecoin
46 SysCoin
47 Nexus
48 Xaurum
49 Ark
50 Counterparty
51 Gulden
52 AntShares
53 ShadowCash
54 BitcoinDark
55 I/O Coin
56 Rubycoin
57 Synereo
58 Edgeless
59 MonaCoin
60 Nexium
61 Agoras Tokens
62 Ubiq
63 DigiByte
64 Lykke
65 BlackCoin
66 Chronobank
67 YbCoin
68 vSlice
69 NAV Coin
70 BelaCoin
71 E-Dinar Coin
72 Radium
73 Crown
74 GridCoin
75 BitBay
76 Novacoin
77 LBRY Credits
78 ArcticCoin
79 ION
80 Clams
81 SuperNET
82 Viacoin
83 Plus Bitcoin Plus
84 ZClassic
85 Aeon
86 SolarCoin
87 Vertcoin
88 Pepe Cash
89 NautilusCoin
90 CureCoin
91 MonetaryUnit
92 VPNCoin
93 SIBCoin
94 Scotcoin
95 Omni
96 Expanse
97 Burst
98 Boolberry
99 Primecoin
100 LoMoCoin

Transcripts

1. Cryptocurrency investment and retirement planning intro: what is the best way for me to save up for retirement and to build a an independent financial future for my family? I've been asking myself this question a lot lately. As a new parent with lots of student loan debt and without much faith in the usual investment method, you might think as the stock market or bonds. I keep asking, where would the best place for maybe to put my money? Where am I likely to get the very highest return and where is my money? Likely to make a difference? I feel like if I put a few 1000 a month in the stock market, who cares? What good am I doing? I found a way to make a simple, sane and risk averse method for investing in what I think is the best opportunity today. Crypto currencies. Why do I think this? Well, personally, I've spent years being excited about crypto currencies, messing all kinds of different investments, up trading, speculating, losing money, and then guess what? Finally, I got lucky on one and I went all in and I put $10,000 which was all I could afford to invest. In addition to 2500 into a Vanguard Balanced Index fund that bought me over 1000 dash at just about $11 for Dash. Guess what that's worth today, just four months later. That's worth $70,000 today. Not only that, but I get over one dash, about two dash or currently about 130 or so dollars every week that I get paid from having a dash master node. But what if I had put my money into another currency that had went down? What if I'd put my money into a currency than one up 100 times instead of seven? I keep asking myself, after this big success with this dash investment, what can I do to replicate it? And I found it's not so easy to just replicate that without using a comprehensive strategy that covers all the different scenarios. What if the whole market goes down for Cryptocurrencies? What if this happens? What if that currency or this What if all these scenarios happen? How do I keep putting my money in on an ongoing basis? Get the very highest return and pay the very lowest tax? These are the questions I've been asking and I'm excited. I have a strategy. After years of preparing for this researching, learning about how to invest in other areas from the world's best investors, I've translated what I've learned into a simple, sane and minimized risk method for investing in crypto currencies. Bitcoin, ethereum, Ripple light coin, Manero, dash made safe coin, steam picks, Whatever you want. This strategy, I will explain, shows how to invest in all of them. If there's any big winners, I get to participate in the action. If one currency falls apart, that's okay. My strategy is based on the principle diversification, and it's based on the fact that I don't know which currency is going to win. I don't know whether Bitcoins going to go up or down. I don't know. Rather, Dash will go up or down. I do have nearly absolute faith. I have very strong faith that as a whole, the crypto currency market is comparable to the beginning of the stock market. Imagine if you'd been able to invest in the stock market right when it launched, you'd realize that you probably wouldn't even have heard of many of the companies that would be on it But if you simply bet the whole market you'd come out way, way ahead. And all you have to do is hold on for the ride, and no matter what happened, you'd come out way ahead. I'm grateful that I've got a way to bet the whole market with crypto currencies today that simple to get started with, simple to manage on an ongoing basis. And I'm excited to have the chance to show you this. Would you continue learning here with me? How you can plan for retirement make the investment of a lifetime the way I'm doing today with crypto currencies, using the exact strategies I show you. 2. The bottom line upfront buy and hold the whole market: thank you very much for getting started here with me. Here's the bottom line up front the strategy I'm doing and practicing on an ongoing basis to invest in crypto currencies to bet the whole market similar to a balanced index fund in stock market terms. What I'm doing is I'm buying a little bit off the top crypto currencies each month and holding them for at least a year in the U. S. If you hold something you buy for at least a year, you just pay capital gains on it. Then if I have some massive windfall on some parts off my purchase with a crypto currency, I only pay 15% tax instead off the complete income tax. And the best part about that is I don't have to trade and get emotional. The biggest limitation I've found with investing is the emotional many of us think, or smarter than the rest of the people were trading with. And yet when you look at the data, what do we do? We buy when things air high when excitement is in the air and we sell when fear hits with the idea that I want to not lose as much as everyone else. What I've found is that the emotion must be stripped out of it. A simple plan that allows things to unfold without the assumption that they have to go a certain way. That means I'm buying in two different places. I'm buying one. UNB it. Finex. I'm putting half off what I'm putting aside for this, which currently is about one Bitcoin a month, and I will scale this aura Justices needed my plan. Is one big coin a month, half of it on bit. Finex. Why bit? Finex? Because on bid Phoenix, it has just what you might call the top currencies. And as Ethereum Ethereum, classic Z cash, dash light coin and a few others I trust bid Finex to pick the very best currencies to put on their trading platform because that's what they've currently done. This allows me a less risky approach, you might say, because I'm working with Maura established currencies. This means I have a good chance of seeing an increase in my investment by equally buying each off the currencies. I buy an equal portion of Bitcoin Ethereum dash, and I hold that and I contribute equally each month toe all the currencies, then on bit Finex At the same time, I want to participate in the very highest gains. Some of the newer, unproven currencies are the ones that have the potential to increase 100 times in value in a very short period of times as picks is done, it's increased something like 500 times in value in the last several months. I want to be in on that action as well. Therefore, I put then the other half Bitcoin into the rest of the currencies. The top whatever. 50 or so that are not on bit. Phoenix, therefore, on Polonia Axe, I don't by any Ethereum, dash, light coin or anything else that is on bit. Finex. Because I handle my top currencies on bit. Finex. Then I buy 1/100 of a Bitcoin every month on all of the top 50 currencies on Polonia Axe. This minimizes my risk if I invest in a currency that essentially becomes worthless. I've been trading on Pony X now for close to a year, and sometimes Polonius just delis, currencies, completely, removing the M, essentially wiping out all their value. If I've only put ah 100th of a Bitcoin into it a month. That's not a big deal. And with putting into the top 50 every month on Polonia Axe, if they delist one, I will be putting it into something else the next month. This allows me to always be in on the newest currencies. If one happens to blow up and go up 100 times in value, guess what? I turn 1/100 of a Bitcoin, which is currently $12. If that happens on any one of the top 50 that I put in any month that I put in, that turns into an entire bid coin. This strategy allows me to participate in all the best action while minimizing any of my individual risk. If one currency collapses, even if Bitcoin itself takes a huge dive and the whole Polonia X exchange drops and all the bit Finex drops, I've bought the entire currency I don't ever have to sell. This is a long term buy and hold strategy, and I have the option than to re balance my portfolio every year, for example, of one currency has went up 500 times from the year before. Then I have the chance to sell that at capital gains and distribute that among the other currencies. I could change that into Bitcoin and then put that back into the other currencies that allows me then to not be overinvested in one or another. And then I only pay 15% in taxes if I end up needing to sell in order to re balance. This gives me the best of every world. As I asked the question, How can I invest in crypto currencies while making the most money, taking the least risk and investing the least of my time and energy into it? This is a passive strategy. I don't need to check the price. In fact, the prices are almost irrelevant. I put in the money, and then whatever I put in, I don't mess around with it for at least a year. Therefore, doesn't matter what the price changes from day to day. It doesn't matter. Rather, there's a panic because I'm holding for a year. So what if the whole thing goes down 90%? It'll probably go back up quite a bit after that. And here's the beauty I put my money in every month. That way if it does drop 90% I put my money and I get a fantastic value. Then when everyone's panicking and running out of the market, I put my money in every month. On the months where it's down, I get an unbelievably great value. I get to buy tons of all the currencies relative to what they'll be worth after the slump. If you done this with the stock market, you'd have an unbelievable amount of money because in times when things were bad, the same amount of money you put in would go much farther. And then when times were good, you could just simply re balance your portfolio to mitigate the risk. You could even cash out a little bit if you wanted to and relax. That's the whole point of this. I don't want to be a Bitcoin trader speculator anymore. I don't want to have to research all the crypto currencies like with Dash and Pick one that I think is exactly the best and then promote it myself to sell it. I just want to put my money in being on the action, invest in the people and companies who are making these currencies possible and then reap the rewards without it consuming my whole life. I'm grateful I have this strategy to share with you today After reading Tony Robbins book Unshakeable. I just got started with that. However, I read all of Tony Robbins book money Master the Game, which inspired me to make the initial dash investment, which today is worth $60,000 more. Then it was just four months ago when I invested, and I'm extremely grateful for that. I'm so grateful that I've made this system and I'm giving it to you here to use for your own retirement and Cryptocurrency investment planning. 3. Reviewing Bitcoin and Cryptocurrency prices from 2013 through 2017: what opportunity is there with investing in these online crypto currencies? If you're newer to investing in these crypto currencies or you just want to see the data, I hope this will fully show you the opportunity that I thinks available today. What I'm going to do is review the data over the last four years off the prices off different online crypto currencies. Using the website Coin Market Cap dot coms data First, the date is April 14th 2000 and 17. I encourage you to check the prices today to see how they differ from whatever you're seeing. Today. Bitcoin is worth $1162. Ethereum is worth $48. I'm listing these in order off their market capacity, with Bitcoin being top ethereum being second. Ripple is currently third at three cents for a ripple. Dash is currently fourth at $70.46 for a dash. Light coin is currently fifth at $9.80 for a light coin. Manero is currently $21.68. Ah Theory. Um Classic is $2.57. New Economy Movement is currently two cents e R Ugur Something like that is $10.53 and made safe coin is currently 19.9 cents, along with Pivot X, being a dollar 48 and Z cash being $65. How would do these prices compare? Historically, let's take a look at that now I hope showing you this presents the opportunity. Clearly, I will compare this with how I've invested my money over this time as well. On April 28th 2000 and 13 Well before I heard of Bitcoin Bitcoin is worth $135. If you would put ah, $135 into Bitcoin, then for every $135 you put in today, you would have $1062.1162 dollars light coin. If you every $4 you'd put into light coin, you would have $9 today. Peer coin. I don't even see that up on the top of the charge. It may have morphed into something else. No, it's way down here. Every four cents you put in a peer coin then would be worth about eight cents today. Name Coin. I don't even see that up on the top of the charts either. There it is. Down here. You actually would have lost money if you put a dollar into name coin and held it, you actually would have 81 cents today. Then there's Terek Coin. Don't see that up on the top anywhere either. And all these other coins I don't know about the point I would like to stress clearly right now is you want to hedge your bets things like Bitcoin of whenever fantastically. Meanwhile, some of them, like name coin of actually went down. There's no certain way to know what things are going to go up 10 times or 100 times and which things are going to stay the same or go down. The only certain way to get in on all the action is to bet the market. This is the same strategy that I have heard repeatedly in Tony Robbins books, and I hope it's helpful in applying the same thing to crypto currencies. Now let's look a year later. January 5th, 2000 and 14 1 of the prices Bitcoin was up to $864 from just a less than a year before it was $135. If you put your money into Bitcoin even in 2000 and 14 when it was one of the highest, it would be for years. You still if you'd held on all the way through all the down times that occurred afterwards , you still would have a great increase in your money today. For every $864 you put in on January 5th 2014 you have 1162 today. Now, if you put your money in the light coin, then you wouldn't be feeling too good because it's worth $25 in 2014. Today it's worth $9. However, there may be splits or various things that have occurred with some of these that I don't know about, that you actually might have come out ahead. If you put your money into Ripple, it would be worth about the same thing as it is today. Peer coin. I believe if I remember the data from before, you would have lost quite a bit, putting it in a peer coin then, and most of these other coins I haven't even heard off that are on the top list. If you go another year forward to January 4 2000 and 15 you'll notice the Bitcoin price plummets down to $281 from the year before being $864. This is why I like the bet the market strategy, because when I all the speculators goto pull their money out of Bitcoin ethereum dash and change it back into U. S. Dollars or pounds or euros or one. When there's some panic, the whole market may go down. And if you're not planning to sell or trade, it doesn't matter. You buy in a little bit every month, and then when the market is down, you get a really good deal. You see, if you'd continuously started buying in 2000 and 14 and just put, say, a fixed amount of money in every month by 2000 and 15 you would be getting several times as much Bitcoin for your investment. You would literally if you were buying one Bitcoin at 800 something you would be able to buy about three Bitcoin the next year for that same amount of investment. This means that doing this strategy on an ongoing basis volatility is actually good. When you keep putting money in every month, the times when it's down, you get a really good deal. And then when it returns to the average, you've made a great amount of money. You'll notice the ripple goes down to two cents after having went up a little bit, so it didn't drop much, but it's still dropped a significant percentage. Meanwhile, light coin was up to a high of $25 in 2000 and 14 light coin fell to $2. That's why it's not good to gamble on one specific currency or another. And that's why trading it can also be a very bad idea. If you had bought in the light coin at $20 then tried to trade it and weren't able to get out, you might have lost nearly everything again. There's a bunch of these coins up here that hardly anyone has heard of what you'll notice down here. This one little currency dash comes in now at a dollar 70. At this point, I believe under a different name, even in January 4th, 2000 and 15 then skip ahead a year later. January 2016. Meanwhile, the price of Bitcoin is went up from 2 81 24 13 You will love the examples I give you where I illustrate what I did between these times as well. But more about that in a little bit, the Bitcoin price has recovered significantly. Meanwhile, the ripple prices started to plummet from two cents. It goes down to Ah, less than one cent. Light coin makes a slight recovery at 3 49 And all of a sudden there's this new currency, Ethereum, who gets up there at 95 cents now worth $48 today, just a year and some months later. Dashed, meanwhile, comes up to fifth at $3.25 and more coin of different things I haven't hardly heard of. But I've probably traded before down here in 2016 1 other one will look at is Manero, 52 cents for a Manero down there now. If you go up to January 2017 the Bitcoin price up to $963. If you had got excited about Bitcoin in 2000 and 14 and started buying it, Ah, little bit at a time, even when it was 8 64 You initially, as I did, would have consistently lost money for a little while. But if you'd held on for three years, the price now 9 63 you would have made a ton of money just putting a little bit in every month, buying it when it was really low. You'll see in a one year Ethereum goes from 95 cents up to $8.26. At the beginning of 2000 and 17. Ripple still down low light coin, making a good recovery from two years before. At $4 Manero explodes from 50. Something sense to $13. A new Ethereum classic comes out, which you got if you had a theory and when it split. Dash, meanwhile, has gone up from $3 in 2016 up to then $11.26 in 2017. That's when I bought in. That's when I threw in. I put in $2500 into the stock market into a balanced index fund of of the whole stock market and bonds. Meanwhile, I put 10 or $11,000 into dash at the same time to buy a dash master node. Today you can see what these air worth. A theory. Um, in just four months is went from $8 to $48. Ripple has went up five times in value since then. Bitcoin, meanwhile, is went up a couple $100 in value, but dashes one up seven times in value did spike as high as over $100. Light coin is back up to $9.80 and Manera Rose went from 13 to $21 in just four months. Ah, theory. Um, Classic has doubled in value. New economy movement has went up. I a lot from the 3/10 of a cent to 19 cents. That is a 50. Excuse me. I just read the made safe coined I'm done made safe coin has doubled in value New Economy movement as went up 10 times in value. Nearly made safe coin and ardor, meanwhile, are gorillas went up three times in value. And here's this one picks, which was way down here, hardly could even find that. Is it even on the market, anywhere in the top 100 anywhere? I'm not even able to see pics scrolling down at the beginning of 2000 and 17. If I go do a search for pivots, you'll see it's not even tracked on the list. All of a sudden, it comes up to a dollar 48. In a very short period of time, pivots went from initially being worth it was launched in February. The price was fantastically small. There are five zeroes and then a three You could buy it for if you'd bought into it, Then back when it was nearly worthless, you would be a millionaire today if you put in the amount I had put in to dash. It currently is worth 0.12 Bitcoin If you'd bought in right when it launched, there were five zeroes. There's now on Lee to that means it's went up. 1000 s actually went up about 2000 times in value since it launched. Now, as I look at all these numbers, I wonder how can I participate on the winners And how can I hedge my bets against the losers? Because in looking at all this data, I obviously had no idea how any of this would look when I initially got excited about Bitcoin in 2000 and 14 the price is around $600. How would I have known that some of these, like Master Coin, which was $177 at the time? I haven't even heard of that Now. I don't even know if Master Coin is still around. It's likely been rebranded to something, or it's been closed. It currently says it's worth $6 today, and it's now trading as Omni and it has. It was up to $177 now it's trading at $6. You see, I want to account for the fact that I'm going to be wrong when I invest in these currencies that I may get hyped up on something like Dash that ends up totally falling apart. Or that I may get all excited about something that does go up and I want to be right about it. Or I may think nothing of some new currency and put a dollar $10 into it and that becomes worth 1000 in just a few months. I want to be in on all the action while mitigating my risk. And the best way I see to do this is to simply by the market. And that way the winners will make up for the losers. If I had an equal portion of master coin and then all these other coins in 2000 and 14 and I kept investing equally in whichever the current top ones were along with the current top 50 each month on Polonia Axe, the ones that totally circled the drain and went into nothing wouldn't get that much of my actual money. And then I wouldn't be in a panic to sell them either, because the entire value of my count would include others that went up while some went down . I appreciate you looking at this historical data with me. I hope presenting these numbers to you albeit I have not annunciated everything perfectly. I've mispronounced things. I've stumbled over my numbers. I hope you get the point. Though these currencies have been fantastically valuable, they've increased crazy amounts and then they've plummeted How do you know which one to put your money into? There's no certain way. If you keep putting your money into the whole market over time, you've got a very good shot. 4. What is the minimum amount to get started?: what's the minimum amount to invest to get started with this? The beauty of this is that you can start with this little loza $100 you can put now. Each of the exchanges has various limits, but here's what you can do. If you want to get started with the $100 you could put $100 on to coin base. And if you go if you use the link I've got here at not my podcast. There we go. If you go to jerry, banfield dot com slash resource is and you go find the coin based link, and then you get you joined, coined based using my link and by ah $100 of Bitcoin by clicking, they get $10 in Bitcoin link. If you do that, then you'll have $100 on coin base and coined based will give you an extra $10 is there thank you. Therefore you can put $100 on and then you can buy. You'll get an extra $10 your bill to start with $110. That's a guaranteed 10% on your That's a guarantee 10% return right away and coin based also gives me $10 which I'm grateful for. I've referred something like 60 or 70 people, the coin based that have gotten me that bonus. I'm very grateful for that. I've gotten more than a Bitcoin referring people the coin base coin basis. What I use now you can then take your $100 deposit it on Polonius just like I'm showing you . Then could simply by $1 off the top 100 you could buy $2 of the top 50. You could buy $10 of the top 10. You could do it however you wanted to. But the beauty of this strategy is for $100 you can easily get started and be a part of the action. On what I think the best strategy to do would be to put $100 a month in, because some months it all these online currencies air up right now. So if you put in $100 this month next month, it might be worth 60. But if you put another $100 in that month, then you'll be able to buy significantly more with your 100 than you bought the month before then. If it goes back up and you put another $100 in, then you're starting to come out way ahead because you put the $100 in when it slumped. That goes up. If you put $100 a month in doing this strategy, I've gotta awesome spreadsheet. I'll show you that I wore I fully did the math on this Ah, year ago with Bitcoin. Just a little over a year ago, the bit price of Bitcoin was for 20. Here's what I did. I made a simple Bitcoin investment plan of investing $25 a day in Bitcoin, which at the time bought toe fire 20th more than 1/20 of Bitcoin. Now you can adjust this toe whatever you want to do. What? What I'm showing you is the basic system of how this works off. How just continually investing a little bit over time adds up to a fantastic um oh, thanks to the magic of compounding and what I did, I then simulated down here actually almost exactly what's happened a year in advance. I simulated this last year and this is what I actually did. This is a big part of how I had $10,000 to invest in Dash because I put $25 a day into Bitcoin. And here's what happened. So I've got these different columns. Let me hide this because that'll save some room on here. So I've got these different columns over here. The date and I made this spreadsheet a year ago. Now, how cool is this? I made this a year ago. Let's look at this. I started on April 6 $25 a day in Bitcoin What I did by about a dollar an hour of Bitcoin. That way I got the average price on it. If one day it was down one day I was up, I got the average. This is called price averaging. Then what I do. I show you the amount of Bitcoin I got based on the dollar amount I put in and the price. So this is a Bitcoin I got. This is a total Bitcoin I had, and then this is the amount it was worth. So I started investing $25 a day, which, if you count up the days, that's about 700 plus dollars a month. That I put in and then look what happened and this is a simulation, but it actually went very much like this. Accept Bitcoin just went up. So each days I continued investing. I just did this first thing, assuming the price would stay about the same. And then therefore, after a month of investing by this point in the spreadsheet $875 invested, assuming the same price I have then at the time to Bitcoin $875 invested. Now let's assume there's a price drop after that. So all of a sudden the price drops. I lose lose $70 overnight, essentially, but I continue investing $25 a day. Let's say the price goes down even further to 300 eso. I'll show you the math on that. So after on this after 170 days of investing $25 a day, that's $4250 put in assuming a price drop. Now you might think, OK, that's that's not ideal, because by now you actually Onley have $3725. But what happens when the price goes back up and the system continues, and then the price and the price actually went up faster than I predicted in my simulation . So what happens when the price cracks 1000 and to say, a year? And this actually happened faster than I even planned for which I've said probably six times by now the that total count 361 days, with the some of $9000 invested in a year, which I didn't miss because I simply gave it away As soon as I got it, The price goes up to 700. I now have $14,000 based on my $9000 investment. Now here's the cool thing. When the price goes up to 1000 with all that I bought over time, then I have $21,000. After a year, I could literally start withdrawing $25 a day on my investment and then guess what? By 2000 and 19 I've withdrawn says, And let's assume the price goes up to 2000 in 2000 and 19 with just investing $9000 at $25 a day by 2019 and the price going up to 2000 Bitcoin. I've withdrawn $16,825 I have $15,000 Mawr of Bitcoin. In other words, I've turned 9000 in the $30,000. It's simply by investing $25 a day for a year now. I think an even longer term strategy for this is best. The point of this is for $100. You can very much get in on the action and reap some gigantic rewards. I'll do another little calculator. Example here. Let's say you put in ah, $100 a month for 12 months. Over the course of a year, you have $1200 invested. Let's say the year doesn't go well, and by the end of the year you actually only have 1000. Let's say it's slumped and you actually lose money overall, which you can guess the likelihood on that, and then you do it again. Over the next year, you put 1200 mawr in, but this time the price goes up significantly. Let's say it goes up 25%. These air pretty conservative numbers. After two years, you've put in 2400 and you have $3000 and let's say you keep putting the 1200 you put the 1200 morning. But this time there's another big increase. Let's say it's goes up double all the sudden. Now you've got $8000. But let's say it slumps again. You see, this builds on itself over and over again, and you could literally put in $100 a month and very reasonably have close to $10,000 in a few years simply because of the power of compounding, of continuously putting in. In three years, you can invest 3600 and it's very reasonable with the growth we've seen so far that in three years you're 3600 might be worth close to 5000. It might be worth close to 10,000. You might have lost some of it. These are very up and down script, Oh, currencies. And the beauty of it is if you keep investing over time, every time it plummets, you can actually celebrate. The farther down the price goes, the better deal you get when things return to normal. So I'm grateful today that I went through and applied this strategy. Now, sometime in June 2000 in July 2016 I started trading. I did this strategy and what happened? The price went up significantly in here. So after I'd put thousands of dollars in the Bitcoin, I actually had several 1000 more than I put that in and started trading it. And then when I started trading in it first I made some very good money. I made three or four Bitcoin trading in at first, But then there was a huge plunge and I lost several Bitcoin because I was trying to speculate instead of just buying and holding, and if I would have held all that I had on there, I'd probably have about as much as I do in Dash right now. So I'm grateful that you've reviewed this with me. I hope this is helpful that yes, for $100 a month, you can do amazing things just by buying the market $100 a month on coin based, herded into $100.10 dollars in Bitcoin. Throw that on here and just by the top just by an equal percentage off going down the list and then if there's any big winners, they'll make up for the losers. 5. Buying Bitcoin and Ethereum on Coinbase: How do I buy Bitcoin or a theory, Um, into my coin based wallet. Once I've made my A C H transfer. Then I've got these different accounts here. I've got my Bitcoin wallet. This has Bitcoin. I've got my theory and wallet, which currently has no ethereum. Then I have my US dollar wallet. My US dollar wallet is where my A C H transfers from my bank account go straight in the U. S. Dollar wallet. The beauty is this U S dollar wallet is actually insured just like a regular bank account that mains. It's nice to just transfer into this wallet and then whenever I'm ready to buy into the currency's, it's just like taking it from a bank account into than the crypto currencies. What I do is go over to buy and sell up here, and I decide how much I want to buy. What I'd like to do is put about 1/2 Bitcoin a month into my two different investment exchanges, one in the PLO NeeIix and another one in the bit Phoenix. That way, I've got my investments hedged against the top of the crypto currencies in the safer investments. You might say. And then I have 1/2 Bitcoin into the riskier ones. The exchange traded ones. That way I've got a good chance to make huge gains in the exchange traded ones with more security in the others. In order to do that. That's how I determine how much I want to buy. I've already got 0.1 Bitcoin in my wallet. Therefore, I'd like to buy about 0.45 mawr Bitcoin. You can also set this up if you want the absolute best price. You can set this up to buy a little bit every hour, and I might do that to ensure that I get the very best rate over time instead of just buying on a particular day where I might pay hundreds of dollars more or less than on another day. So I hit by Bitcoin instantly here and you see the option to repeat this by up here? I hit confirmed. By now I have 0.45 Bitcoin that will arrive in my wallet instantly. Now coin basis version of instant sometimes differs from mine. In this case, it did arrive instantly. I have the Bitcoin immediately in my wallet. Now I can do the same thing with the theory. Um, what I want is 1/2 Bitcoin off a theory. Um, you might ask, Why would I do it that way? I'm going to use my Bitcoin and deposit that on bit Finex, and I'm going to use the ethereum and deposit that on Polonia X. So I want essentially the same amount of Bitcoin roughly as I have an ethereum. So I'm going to do offer the Ethereum. I go over here and select Ethereum on this one, and then I'm going to buy $600 off the theory. Um, and then you see coin basis. Charging the $6 fees will actually cost me $606 or 1% to buy that. So I hit by Ethereum instantly, and I hit. Confirmed by now. Notice Coined based does not currently offer the option to direct exchange. I can Onley go between my U S. Dollar wallet and either of these I can't go straight from Bitcoin into ethereum. And I can't go straight from Ethereum into Bitcoin. That means that if you want to buy either the currency's Essentially, if you want to exchange your Bitcoin for theory. Amman Coin based You have to get hit with a 2% fee to exchange it as you go into your default currency and then back into the other one. That's why exchanges air so nice for doing all of these different transactions. I use coin base because it has the free A CH transfers and and then the flat 1% fee, which often is much less than sending a wire transfer. However, if you have larger amounts of money, you might just want to do a wire transfer. Now I've got ah, half Bitcoin worth of Ethereum and off Bitcoin, and now I'm ready to deposit my Bitcoin and my Ethereum into my exchanges to get started with the next step in the strategy. 6. Price averaging with daily BTC and ETH buys: What do I think is the very best way to get price protection by purchasing Bitcoin and Ethereum or Harvey, you're going to do it on the ultimate price averaging level. You could do this as little as hourly. What I'm doing is buying a little bit every single day. This way, if the price has a spike up one day or one day, it has an extreme drop. I get a little bit more that day. This allows me to take advantage of what's called cost averaging, and this way I get the average price over time. This prevents the deviation if you just buy a safe $500 or ah, half Bitcoin once a month. What if the day you go to buy the prices are up really high? And then by next month that you go to buy again and the price spikes down and then you go to buy again and the price just goes up and down all the time. What's nice is to essentially have mawr sample points. What if I just buy $10 a day off Bitcoin and then each day is the price fluctuates. I get whatever the price is that day, and that way I just steadily keep building Bitcoin up over time. And as the price fluctuates, then it's not a big deal if it goes up or down one day, because I'm just buying $10 every day. If it goes up, I get a little less for $10. If it goes down, I get a little more for $10. This allows me to then control four temporary spikes and downs a bit more now. Sure, if you get a temporary down at the same time, it might be less lucrative to put the same amount of money in. So what this does is take me essentially out of the system I hit by on coined based. I go over to buy sell, and the nice thing coin based makes it. I can just check when I go to confirm my transaction, I just hit. Repeat this by daily and now every day Coin based will buy $10 of Bitcoin and stick it in my wallet. Then what I do is start another by If I really want to hedge my bets, then I can also by $10 of a theory, um, every day. This should add up to about 1/2 Bitcoin of collectively Bitcoin and ethereum. This should add up to about 1/2 Bitcoin, or about $600 a month, that I'm putting in ca. And this gives me that consistency and put $600 a month in I buy half bitten ethereum, half Fitbit corn. So if Bitcoin goes up and goes crazy or goes down and as this gives me even more stability on the price So I had confirmed by and now I've got to daily buys coming in. I've got $10 a Bitcoin and $10 of ethereum coming in every day then and I'm grateful. I got another referral yesterday. So someone else signed up through my coin based wallet, which I'm very grateful for. Then when I can do is I can check these buys. I can go over into tools and then what I do is look at recurring transactions. And now this is how I verify what I did. This verifies that each damn spending $2 Excuse me. $20.20 buying $10.10 of Bitcoin which 10 cent fee and then $10 I actually get. And then $10.10 of Ethereum each day. 10 cent fee actually get $10 for theory. Um, then once a month, I can transfer to Polonia Axe and by with however much I have of the Bitcoin and Ethereum, I can change my theory of the Bitcoin. If I want, I can directly exchange Ethereum if I want. I can just then every month essentially put that $600 in evenly over Polonia Axe. And if there's a little bit of up or down in Bitcoin, I may come out a little bit behind. If, say, the Bitcoin price over a month drops steadily, then I may come out a little behind. Or if it goes up a lot, say the Ethereum price goes up a good, but I may come out a little bit ahead. But the nice thing is, with the price averaging, I put in the $10 every day. It's a fixed system. Then there's not a bunch of room for me to get in there and mess around with things, and there's not a lot of a room for emotion, either if it goes up or down. It's not a big deal. I buy a little bit every day, no matter what. So this helps me keep it simple. This help me invest on a consistent basis, and then all I need to do is essentially fund about $600 into my account each month, and the Bitcoin and Ethereum will then slowly translate over each day. I put that over into Polonia X from here and now I've got my system to consistently invest in retirement plan style into all these different currencies. 7. Depositing Bitcoin from my Coinbase wallet onto Bitfinex: How do I make a deposit on bit? Finex Using a crypto currency. This does not cover how to make a deposit with the bank wire or tether because these two methods require verifying your account with bit Finex, including multiple forms. I've I d and submitting several other forms of documentation. What I'm looking to do is to put my dash that I get from my master node every month on bit Finex and then buy into any of the others on here bit. Finex. The way I see it has the very top off the online currencies. What you do to make a deposit with those this simple. You just goto bit finex dot com After you sign up for an account, go to the deposit and you make a new deposit. Now you need to pick exactly which account you want it in. If you want it in your funding account or your trading account or another spot like your margin account, then you want to put those exactly in the right spot. You'll see that option a minute. So here's how I deposit in Bitcoin. I click on Bitcoin and pay attention to each of the things that says it gives me three different Bitcoin addresses that I can use for different accounts if I want to do my Bitcoin exchange to just by other Bitcoin outright, then I want my change wallet. If I want to fund other people's margin trades and make money on interest, essentially, then I go to the funding wallet. If I want to do margin trading, which I do not want to do, then I would fund my margin wallet. Therefore, I use this address. I want my exchange wallet. I want to buy currencies completely. When I pay for them, I have the whole thing, not part of it or having the finance. I go to my exchange wallet. I copy this Bitcoin address. I go over here, I'm sending with coin based. But any other wallet you send with will be very similar. I go over here to send request. Now what I do is I make sure I'm in my Bitcoin wallet. I paced in the address I want here. I noticed there's a network be and bid. Finex recommends a minimum of a point. 003 Right here. So I see that coin bases doing more than that, which is good for me getting my transaction confirmed. Now, what I can do, I can simply clean my entire wallet out, which I will do for this. I will clean my entire wallet out. Just click use Max and will put 0.55 Bitcoin and change in there. Now, I also like to put bit Finn X a bit thin X first deposit this way. I know exactly. In my accounting where this is going, I know that I'm simply sending it to another exchange that it's not a payment for contract labor. I know for doing my own accounting that I've sent this to another exchange. Therefore, this is an investment. So I click on send funds now and then I get the confirmation before I send. Now, what I do over here is I double check that this is right. I check this address up here matches this address over here because there are some very clever hacking programs I've heard off that they don't do anything else except mess with your crypto currency, sending they discreetly just change the numbers in your currency sending here. So, for example, when if I'd had that program on my computer. It would have. It would have simply altered the address I put in when I pasted it. And that amazing program, Whoever wrote that? Props, That's a good one. I double checked to make sure not only that that is not going on, but also that I've copied and pasted correctly my wallet address. So I've got I checked the beginning of this and the end of it. So it's one MH to start, and then there's G J s. That's one of the fastest ways to check is to check the very 1st 3 or four and the end. So I checked that I checked the total amount and looks good. I hit. Confirm. Now I get this. Send a complete message from coin based here and then over in my bid Finex wallet. It says they'll be credited after a minimum of three confirmations about 30 minutes, sometimes longer. I'm essentially planning this out so that I've got hours. I don't need it to be confirmed right away. I'm not going to be sitting here waiting for it to be confirmed. I've set this up so that if it takes several hours to confirm. That's fine. I will still be ready to go in my own plans. So I appreciate you watching this. I hope this is helpful for showing how to make a deposit to the exchange wallet using bit Finex with Bitcoin sent and bought on coin base. 8. Funding my Poloniex exchange trading account with Ethereum from Coinbase: How do I make a deposit on Polonia Axe using Ethereum or any other currency? I'll show you how to do that right now. One of the first things I recommend just to make sure you don't deposit something that's not getting traded is to hit high delisted. You don't even want to consider, in my opinion, putting something on Pony X that's no longer being traded. Therefore, it will remove a lot of these other ones and simplify it. Then what you need to do is make sure you pick exactly the right crypto currency. If you click the wrong one, you could get the wrong address and mess things up. I want to deposit Ethereum because in my coin based account, I have a theory, um, to spend I go over here Ah, and select on coin base. I select my Ethereum wallet and I hit used Max over here. I'll send all my theory. Um, now what I need out of Polonia Axe is an address. So I go over to a theory. Um, it has a deposit button over here. I scroll over finding this deposit button that's right under my face. I can scroll up and show it over here. I hit the deposit button. It gives me a warning that says, Got it. Show me to deposit address. I click deposit address now gives me this long ethereum address Here. I click here and note It says the minimum amount for the deposit is one Ethereum always read these little warnings. Have you send 1/2 the theory? Um, it might be pretty disappointing. You don't get to use it. So I go over here, I then paste this address into my ethereum send option in coin base. I double check over here to make sure it copied and pasted correctly as well. I can see that the 1st 4 are zero x 55 in the last 4664 e and a double check that. That's what pasted here. And it looks like it's good to go. Now. I put over here Polonia X deposit, and, uh, that way I've got for my account recordkeeping. I can see exactly where this went. So now I've got the 12.33 Ethereum ready to send. I hit send funds and coined based will give me a confirmation. And then what? I do I hit? Confirm down here and now the send is complete. In order for this to be credited, it often will take 30 minutes or so and then once it's done, it will be available in the history. So I go over here, I can see my deposit history where I've put in dash from several different addresses on previous deposits that I've sold and once the deposits come in, then it'll show now it takes a few minutes to show, usually at all. So I recommend Don't obsess over when your deposits coming in. Just send it and trust that in 30 minutes or an hour, usually it should be available. I sent this in Ethereum because, at least for me, Ethereum has been consistently reliable and quick to make deposits on Polonia Ax and I also sent. I sent my Bitcoin over two bit. Phoenix is that way. I've got them each in different networks. Both of them should be credited, and I can show you both examples. So I appreciate you watching this. I'll follow up with you on what it looks like to have the finish deposit once it's actually in there 9. Bitfinex tutorial featuring my first trades: How do I use bid Finex to make trades and invest evenly in each different online currency? What I'm going to do is show you how I do that right now. In order to set this up, I put 0.55 Bitcoin on bit Finex before doing this. So I've got 0.55 Bitcoin, and what I'm going to do is split this evenly among all the different currencies on a bit. Finex. Except I researched these a little bit. I don't want to fool around with our rt to BTC, but I do want to do all the rest of these, which are as follows. Ethereum Ethereum, Classic Z cash X, m r. Which I believe is ripple light coin Dash and Bitcoin Unlimited. And I think this is big connect or something like that. What I'm going to do is show how to make an even purchase on these right now. If you use something like coined based to fund your wallet, you can Onley by Bitcoin and Ethereum. If you use something like bits stamp, you can Onley by Bitcoin So I'm using. I'm hedging my bets. Essentially, I'm also setting this system up so that I have a separate account from my Polonia AC. So this bit Finex is helpful. I you feel that bit? Finex tracks the very top on the online currencies. And that's why I'm putting half each month into an even split among all these different currencies except our rt on bit. Phoenix. So here's how I actually make a trade. There's different. You need to fund your wallet first, and you need to get your account verified if you're going to put a Fiat currency on it. I'm working on getting my account verified. Now I submitted everything. If you could buy Bitcoin using some other method or you already have it, you can then deposit it or ethereum or any of the other ones directly on here, which in the video class, I do a tutorial showing exactly how to do that earlier. What I've got now I'm on Bitcoin U S dollars so I can essentially buy or sell this back and forth E u s. Dollars. But I don't want to do that because I just want to change my Bitcoin directly into all these other currencies. So when I first need to do is you get the calculator out. What amount of Bitcoin do I want to exchange? How Maney are there? I want to have one part in Bitcoins. So what we need is the amount we need to do a little bit of fractions here. So I'll walk you through this. First I have Bitcoin That's one to do. Ethereum three to Ethereum Classic four Dizzy Cash Five decks Amar Ripple six Delight Coin seven to dash skipping R t eight to BCC nine to B C U. Therefore, I want to split my Bitcoin. I have my 0.55 Bitcoin. I want to split that into nine parts. So I'm going to do is put 90.55 and I will divide by nine. Now that's how much I want to buy off each different currency. I therefore want to invest 0.61 into each currency. And the beauty is you can do this with any different amount of Bitcoin. If you put 0.1 Bitcoin on, then you can divide it up accordingly. Now, some of the exchange platforms have minimums. You can buy really small amount at once on Polonia Axe bid Finex. I think you have to buy at least one whole unit. But we're going to find out in exchanging this now, as some of these maybe two x I might not be able to buy an entire unit of it. So what I'm going to do, I'm going to attempt what's the most expensive? I think Dash is the most expensive olive these so I'm going to just try and exchange the dash that I just said. So 0.61 I want to I'm now. There's different order options here. And to keep it simple, there's two different basic options to use. There's a limit order, which, if you bring up the help window, it allows you to specify an exact price you'd like to pay. For example, if the current market prices to 50 and you'd like to buy it to 49 you can put a limit order at 2 49 as soon as someone wants to places a sell order at 2 49 then you can buy out of there limit orders air nice if you strictly want to pay the absolute certain price. Now, what I'm going to do is a market order because men I'm lazy. I just want to buy a certain amount. I don't want to full. I just want to take whatever the market has available. So then what I want to do, I need to I want to buy some dash using Bitcoin. Now, the problem on this is it's telling me I need to convert my dash over. And I've never used bit Finex before. This is the first time I've used it. So to get a dashes 0.0, five. So I think this will actually buy a whole dash. So I think what I want to buy is about one dash. Now, what I can do is see what this comes in at the market so I can do an exchange by now. This will instantly clean out the lowest sell orders on the market. This means I don't have toe. Wait. I just type in the amount of dash I want you to know instantly. By now, I know give and I have 1000 dashing Master knows kind of pulling us to do that this way. But I'll just for simplicity. We're gonna by all these. So I had exchanged by now and see what happens, They're so I've been fully executed. Let me move my face. The order has been fully executed as there's this little pop up down here at 0.59 three for Bitcoin. Now I can see what I've got over here. I have one dash. I can actually see how my US dollar equivalent has exchanged. So on this other side, I now have 1-0.49 Bitcoin. I spent about 0.6 Bitcoin. I now have one dash, so I essentially just bought more dash, which Yeah, that's what I did. So you'll see the amount of dollars I have stays about the same. So what I want to do now is continue doing the same thing over here. Now you can do it also, you could I could switch my Bitcoin into U. S. Dollars and that might make it a little simpler. So I'll go over to Ethereum Classic now and now I'll do the same thing. I'll buy some Ethereum Classic so I can do the same thing over here. I go to a market order. Now I have to calculate how much Ethereum Classic I want and there's got to be away if you know how to do this. If you know to do this, please tell me how to do it right now that the I can then just calculate the a theory. Um, in here. So one thing it can dio I can calculate the max by amount like that, and it will put it in automatically. So the most amount of Ethereum classic Aiken by is 230. So that's the total amount I can buy. But what I I don't want to actually buy all that. So what I want to do is get it down and I can just essentially do some division. I can just try some different numbers in here, like 50. Now that's twice as much. I want to buy 25 there I can just put these in until it gets pretty close. So now it says the market. That's about 250.6 worth. Then this isn't exactly perfectly precise, but that's okay. We're not looking for exact perfect accuracy. We're just getting this set this up in a simple, easy way. So what I do now? I've got I hit exchange by and now I go in over here. And look, I think you see it. If I That order was fully executed. Now I've dropped my Bitcoin by 0.6 again, I have 26 Ethereum Classic. I have one dash and I have 1-0.43 Bitcoin. So I go over here to see Cash, and I now could do the same thing. I go over to a market order. I can just literally type something random in. That's too much. I can buy one Z cash over here. I'd exchange by You see, that was instantly executed as well. Now, my, I have one Z cash 1-26 Ethereum class again 0.3 Bitcoin. So I speak. I'll go over to X m are over here. I'll go to market and I'll just hit the max in here. See how much I can have total and then do some basic division on that. Cut it down by a to about three, maybe four air. How about 3.5? 3.4? 3.3. 3.5. There we go. So now I will do in exchange by on X m r. I've got 3.5 x m are now So you see, my balance is filling up now in just buying this. I've lost about 50 cents going back and forth, but that's OK. That's a really That's an outstanding way to go about this. You don't lose that much money just going back and forth on the market. It's really nice. So then I go over and grab some light coin. I'll go over to the market here. I'll hit the max by amount on here, and then I can just see how much that is. So I I want about maybe 456 light coin. I'll grab six light coin. You can see that was executed. That costs me another few cents. I started it something like 6 72 I'm down to 6 70 I've now got all these different bounces over here. Now I go over, I'll grab the BCC. I'll go to market, put that same thing in and then I just can divide that up a swell. So I put the amount of that I want in. I put 0.1 that's too much 0.1 point 3.4 point 7.6 There I can do 0.7 doing exchange by and I've executed that order. Now I have Bitcoin core BCC and then I've still got 0.19 Bitcoin so I can go over here to buy Btu. Same thing. Go over the market, click on the max and literally I should just need to about half this so I can put one over here. I can just put one whole one on this and I can exchange by there now I've got I'm finished now. I can close the order form and show you my balances. You'll see this cost me about two or $3 to buy that, including all the fees and everything there. And this is what I've got now and it shows it shows what I've got in each of these. So it did I do the math? Exactly. Perfect. No, that's okay. But the point is, I'm now diversified. I changed $600 in Bitcoin into Ethereum Classic Z cash into Manero, Omon, Eros, xom are not rip. Okay, then light Coin Dash Bitcoin Core and Bitcoin Unlimited. I've now got my bets hedged very effectively. If one of these goes up a lot or one of these goes down a lot. I'm now ready for then. This is the same basic system. What I'm going to do from here is my dash Master node gives me rewards. I'm just going to send those over the bit Finex and then split them up among all the rest. I can just use my dash. I can convert my dash to us dollars and then sell and then go back into U. S dollars in the all the rest of these. So I appreciate you watching this tutorial on bit. Phoenix. I hope this is helpful for you to see how to quickly and simply execute trades. Yes, you can be more picky about the price. There's a lot more you can do. But if you just want to turn your Bitcoin into balances on each of these others, then that's a really simple way to go about it. I appreciate you watching this bid for next part of the tutorial on hope. It's helpful for you 10. Buying into the top altcoins on Poloniex: thank you for continuing to learn about online currencies with me and how to make a great retirement and investment plan. What I'm aiming to do on Polonia Axe now is show you how I go through and by on Polonia Axe . What I've done is I've hedged my bets. Essentially, I'm putting half of my investment each month on to bid Finex and half on the Polonia axe. Therefore, in Polonia X. I don't want to double dip, for example, I already have a theory. Um, lt see, what else do I have? I have X m are already I have dash already. So I don't want to double dip on any of these that I have on Polonius. So I'm going to do is start with ones on Polonia Axe that I already have and that will help me avoid double dipping and buying them again on here. What I want to do on Polonia Ax is every month by you could do the bottom if you want. Do the top of what I want to do is buy as many off these as possible. I want to buy into Aziz many of these currencies. I can every month Because if any of them absolutely blows up, that'll make up for all the losses on the others. If some of these have really great growth, then that will cover all my mistakes. Essentially, this allows me to bet the whole market. So when I do, I'm checking my bit. Finex Right now to make sure I've got Bitcoin Ethereum classic Z cash, which I've marked Manero, which is X m r light coin, Dash, Bitcoin Core and Bitcoin Unlimited. So I can search for some of these. And they don't have either these yet on PLO niac. So this That's good. I've got all of the starred ones. So now I don't want to buy any of those. What I do want to do is buy into everything else. Now, how do I decide how much to buy into a first? I want to count thes one, and I need to start dash to one and try one start down. Okay. 123456789 10 11 12. At AMC to 13 14 15 16 17 18 1920 21 At a MP 22 23 456789 30 at BCN. 31 23456789 40 at x, c p and then 123456789 10 at B B R. That's 50 and then 123456789 That's 60 at Noble and then 60 or 71 to I don't know. There's a lot of these. There's more than 50 of them. So when I want to do is just put 1/10 of a Bitcoin for simplicity. What I will dio I will buy. I've got point. I will buy a 0.0.1 off 51 of these for simplicity. I'll just by 0.101 Bitcoin of 51 of these. So that's what I'll do. So I just go straight down the list one of the time. Now you might think, Why do I buy 10.1? Because if any of these double or triple or go up 10 times, that will cover all my losses on five or 10 other ones, and then if some of the others just stay the same or go up a little bit, then I make a very healthy income this way. I don't have to bet which of these works either. I just go by all of them. I accept that I don't know which want to work the best, but I do know I'm just going to put in the buy orders here. Now the challenge on Polonia Axe. I'll go over to the right since we're not going to sell for this. The challenge on Polonia X is that the Polonia Axe orders air set up automatically is limit orders. That means what I really need to do is crank the price down a little bit. Or what I'm going to have are a bunch of open orders, which is annoying because then if the price continuously goes up, all I've got some open order in there. That's not what I want. So I'm going to do is delete all this and I will look over at the buy order. I'll see the price on the buy order over here and I see that 286 to that. People want to bind that. I look at the sell order to 8632864 Okay, so I can I can know if I put 2864 and I can easily by point or one. So I just I'm going to copy and paste point on one. I buy that. So now that's what I want to see. The message that I've successfully bought. I bought 349 x r p at that Bitcoin rate. That's good. Now, 50 more of those. Oh, my God, Jerry, how do you do this? The nice thing is, it's pretty quick, so I just I've got X R P now, and I should be able to show my balance there. I show my balance. So now that doesn't there. Now it works, so I can see how many I can see exactly what my balances on each of these. And then I can just click estimated value so I can literally sort thes by estimated value if I want to. Which I don't want to do purchasing. Well, I'm going to do is just by the top volume once. Now, you could do this the other way. If you want to, you could start at the bottom and work your way up. You can do this however you want to. You can go by in the middle. I don't know what the best thing for you to do is what I used to do was buy at the bottom. What you can also do is sort by price you can, essentially by the ones that you think of the very most worthless Lots of times. These have great odds of being able to just go skyrocket. I've had some of these that I I've done a lot of this before, and some of these have one up 10 plus times in value in a very short period of time. So there's all kinds of different ways you can do this. You can sort by volume, you consort by price. Volume is a good one to me because that tends to show what people are interested in. But buying some of the low volume ones could be a better value. I'm going to just stick with the volume and go down that way and then if I want to do it a different way the other month, then hey, I am going to do it that way. So what I do now? Same thing I go over to the sell orders this one Looks like if I put it straight in it, that it should be fine. So I hit by now. This is what's annoying when you go to put on order in and and then the sell orders are like this. Someone just cleaned out the sell order. Maybe you're watching or something like, Oh, he's gonna go by stratum to clean him out. So then the buy orders have consumed the sell order. So now I've got this open sell order that's not finished. And if it doesn't go up, it's just annoying. So I go over to open orders and I guess it's actually been cashed out. Now, if I go over to trade than this one actually was complete, so it moved enough that I actually bought it. They're good. So now I've got 0.1 Strat. So we're gonna go down and pick Bella. The nice part about this is I don't have to know anything about these. I don't have to care anything about them. I go buy whatever I want. Now, if you want the order to execute for sure, if you absolutely will just take whatever the lowest prices, you can literally just dump it to some really small amount and hit by. And actually, I think I I'm not even sure exactly what I did. It said order to buy it placed. I don't even know what I did right there. Did I lose his hero? I put a buy order in there, and it didn't give me the display right away. You can just cut down the order size, though. And now this is in here. I don't even know what I did. All right, we're gonna go. I'm canceled. Their just Polonius tutorial sucks. Well, maybe it does, but maybe it's all right to so I can put in a by order. I'm not. There's got thes sell orders. I'm not sure what it just did right there, because I just put in order for really low one, and it keeps placing the order there. I don't know if there's an error or something, or if I just put it in there. I'm not sure what's going on with that. So I go over here to open orders and and maybe is that Hiram? I like dyslexic or something. They're So why don't I just There's a sell order out. So I just put in 0.1 now and buy it. That there. I just have no idea what just happened there, but that that's good to know. I'm happy that that worked out. So I bought Bella. Sometimes the interface is weird. Or maybe I'm weird. I don't know, But there I bought Bellas, and I'm just going to continue down on this one at a time. As you can see, this might take a bit of time to do. But the nice thing is, now you gotta watch now it automatically adjusted. So I gotta sell order here out. And it should come in underneath. And now I gotta buy order in over here. You can see my buy order in over here at 49 And now the price just went down significantly , and there's a little bit of a gap between it. So then again, I end up having a bit of a delay. So there's another way I should be able to do this. It looks like the by went through, so I've got no open orders, so I can also click directly on whatever price I want so I can just go to the biggest order I can scroll down over here and let's say Let's Aikens just scroll down and see where's look. I'll just click on that and then I've got the price up over here. I don't want to buy all that put point no one in here by and they're now I bought that and I cleaned out some of the lower orders without having to go through and do a bunch of different cliques. So I bought that. I don't even really pay attention to what these are. Just go down and buy them. The nice thing is, this takes out all of the unpleasantness of trying to be right about stuff. I just look there, I can click on this and just paste the point. 01 And there And by there Now, I've got a system in a very simply do this. Go click over here, scroll down to the next one and click on. Just find there. That's to 67 paste. They're bought that Now we've got this going nice and fast. Now this tutorials getting so much better go over to wrap over here. I can scroll down. Find there. That's enough taste that by now. If you if you do this quick and get sloppy with it, the worst thing that's gonna happen is you can buy something and then have to sell it again , which I've done plenty times. That's not a big deal. So especially if I'm getting started with this strategy. Although I've done a significant amount of trading before, I take things pretty lighthearted. I mean, I'm ultimately this is kind of like playing a game, going over here and clicking on one spot, clicking another spot. I mean, it's very much just kind of a little game. I'm playing, and that's what makes that's what makes it fun playing the game of money instead of getting all stressed out. What you see, I set up a system to take the emotion out of it, where it's not about me being right or anything. So this is a really fast way to just go down and buy a bunch of these at once. And I think I clicked on that one again. Scroll over. Alright, already did that one. So click X e m. And this is how I'm literally going down one of these at a time click on the order I want to buy at by it. And there I take the clean that out. So I just keep going down here and I've already bought If I look at my Bitcoin balance, I've already bought more than 10 already. So I'm not looking at doing something that's going to take a long time While there's a lot of people playing games, A little orders on this one. So look at all those Oh, my God. Look at all those. I have to zoom out so I can click. Ok, thank you. I go down here, I'm already into whatever DCR is and the way I look at it, I'm investing. I'm helping each of these currencies. I'm buying into them. I'm having total faith in them. And I'm just buying in all these currencies. And then if one of them does really well, then I get a big payout out of it. So that's this way. Works good for all of us. I go down here, go click on this one. Go put the buy in right here. And by there and then what I can do to track this now This the best Polonius tutorial ever . What? I can dio to track this, Aiken, just follow how much equivalent I have each day, and I can see how the market goes up and down over time. Now, the one downside to doing this strategy I've showed you is it takes forever to cash out. This is a buy and hold strategy. You don't want to get panicky and try and cash this out overnight. I mean, you could, but you have to go execute 50 different trades. And if you bought different ones over time, you can then end up executing a whole bunch. One thing. Absolutely essential dimension. What? That can happen. You see this little I'll move my face. Temporarily disabled. I might need to be just blanket. I have 4000 high of four million. 987. Deem. I bought those at a very low price. I can't withdraw those now, though I have no idea what happened to them. I can't withdraw it. These air stuck in my PLO Knicks account. These may never be worth anything. When a currency gets delisted, you essentially air likely possible. Lose everything if you can't sell it like I could not sell this at all for a enough for nothing. No one would buy it for practically I couldn't even give it away. This is why diversification is good. You dump $100 into deem thinking, man, this is really low. It might go up. You might lose all of it. You put a dollar into it, I might have put China. That might be $20 a deem if I lose all of it. So what? It's essentially easier to make money doing this than it is to lose. So what I do is I hit delisted that way. Don't mess around with anything else. So I've got all these different coin on here Now, I just continue doing this one click at a time, just go through here, and then each time I want to do this, I can then change how I sort. So if I decide for example next month, I might decide. You know what? I'm gonna buy the cheapest ones. The cheapest ones tend to be the highest risk of getting delisted, but I could just do it and say, Look, I'm gonna buy the cheapest ones or I'm gonna buy the ones with the lowest volume that no one's trading no one cares about. And these then have the chance to just go crazy because a lot they're pretty much worthless . Lots of them are pretty much worthless. You have the chance to get Ah, huge return on it then. But each month I can then just continue investing Ah, half Bitcoin among all these different currencies. And then I just checked my deposits and withdrawals, and then I can see how much my holdings are worth. And I've watched my holdings go up a bit coin in one day, and that's fun. And I've watched them go down. Ah, half Bitcoin in one day and go down two or three Bitcoin in several months. So the nice thing this a patient, peaceful strategy, Just do it repeatedly over time. I'm grateful you've experienced this with me, and I hope this is helpful tutorial for you. 11. Risks of investing in crypto: what are some of the risks for doing this strategy? I believe it's helpful to honestly and accurately look at and assess the risks of any potential investment strategy. What some of us like to do is just kind of act like there is no risk. There is very much risk it to doing what I'm sharing, but there's a risk in everything you might think. Well, there's no risk in having my money sit in the bank. But there is your money. Sitting in the bank in your checking or savings account is at risk for inflation if governments just keep printing more money, especially the government you have with your money. If governments just keep printing money, your money simply sits in the bank and you are at risk of inflation. That means you're literally could have less spending power when you put your money in the bank, compared to when you pull it out of the bank. Therefore, everything has risks, and I believe the key is being aware of the risks and then choosing consciously which ones you'd rather deal with. I personally, with my family, we have thousands of dollars in the bank in cash and I think it's important to not do something like this unless you do have some cash reserves. I wouldn't suggest putting every bit of cash you have into this because this could be a complete loss. There's many different ways this could be a complete loss. Now, I'm not suggesting that you just don't do it at all, but I recommend knowing ahead of time. Here's one way you could completely lose all of your money. If you lose access to your Polonia Axe account, that means someone steals it. That means you put the password in a place you don't remember, and then you lose access to your email you could use completely. You could completely lose all of your money. And that means if you essentially put all of this in, for example, I just bought something here. It says the Shadow Cash team has stopped working on it. Well, in that case, I would like to sell and sure, I may have just lost a little bit by selling, but that's OK. I can just sell all of the shadow cash I have here, so you could essentially well, you could lose everything if you lose access to your Polonia X account. You could also lose everything if there's some complete crypto currency meltdown. For example, if the U. S government or maybe the Chinese government decides we these are a threat to us. We don't want them anymore. A government could effectively government like the U. S. Government are the Chinese government could effectively ruin a current crypto currencies completely by passing a law. If the U. S government said it's illegal, the hold and by any crypto currencies, I would immediately stop messing around with them. I wouldn't I wouldn't sit there and break the law to try and keep participating in these currencies. So how likely are those things? Well, you can assess those for yourself. I don't think it's that likelier. I wouldn't be investing money of mine there, but still it is in the cards. You could say your money in the bank could melt down to and the bank and take all your money. The government. You can go pretty far out with these, but it is a worthwhile consideration to consider the possibility that governments may fight against these currencies, and if they do, it could make them nearly worthless. At the same time, if you lose access to your pony X account, that won't even matter. Aside from those two, those are big things for you. Also could have a theft on the exchange level. The entire exchange could get. Have some problem. Rather, it's law enforcement rating it from money laundering. Or you could have a hacker group steal all the money on the exchange. Now some of the English these exchanges. They worked really hard on their security. They're doing everything they can to protect you and themselves, just like anyone else. They don't want their website to get ruined. But exchanges in the past have melted down, so if you're exchange melts down specifically, you could lose everything on that's exchange. That's why I hedge my bets between Polonia Axe and bit Phoenix, and then I buy my Bitcoin on another website. So among all of those different websites, I'm essentially sitting in three different positions. Then, if my coin based account gets hacked, for example, then there's not much that can be done with that because I've got my All you could do is try and initiated transferred. If I figured out the account got hacked before then, you wouldn't be able to do anything. But that's where I buy my Bitcoin. So I recommend Don't tie all your accounts up in the same spot. Polonia axes just in exchange so you can actually buy what they fiat currency on Polonius, which that makes it. Then it helps that you don't have that issue to worry about. However, someone cracks my Polonia X account and would need UNP loan. It's You have to have the email confirmation withdraw. Someone went after crack my PLO Knicks account and the email address and then, sure, someone theoretically could then withdraw my whole Apolloni X account. Now, I would get a good laugh at having trolled them essentially, because you see all these different buys and sells that I do on PLO Knee X. If someone cracks, my accountant tries to withdraw all of it. Yes, you're gonna have to sit there and do all the trades yourself. If you want to do it in a one currency or you're going to have to withdraw all of them. That means that someone cracks bip loony ex account. They're looking at probably an hour or more to go and sell all the individual currencies into my wallet. You're welcome. So that that is a possibility. Now the main thing, an outside hacker is not likely to come. Take everything from you now. Sure, outside, Akers Dio. But outside hackers tend to focus on big targets. Why? Because you get a big reward and there's big self respect. I mean, sure, someone might think it was funny and a hack Me, but at the same time, the amount of energy and take tag me, You could probably take some big website down with that same amount of energy. And would you rather say while I had giri and you know who cares whose, Jerry. So you say like I hacked this big website like now you might be able to get into anonymous or something. So you, in other words, one of the ways that you are at risk if you're trading these currencies, is that your friends and family members or your associates the people you normally interact with if you don't secure your computer very well, it's fairly easy for someone you know to clean you out. For example, if you're in a college dorm room and your training this on your laptop and you get up to go the bathroom and your roommates been looking over your shoulder. Be very easy for your roommate to just quickly go withdraw everything out of your account and send that over to his account or her account. And it might be difficult for law enforcement to even trace that. Now something like that happens. Then you would have local law enforcement to help out. The point is these currencies air just like having cash online. If you go leave your wallet laying around somewhere, someone can pick your wallet up and they've got everything in your wallet. Then these online currencies air not like a credit card where you can just all the sudden file a dispute and then get your money back that easily. These online currencies, you lose it. You're done Now. The nice thing is, if you have a wallet like coin based or something, you're US dollar part of that wall. It's actually insured, so that makes a significantly lower risk on it, and coin based specifically is insured against theft. So if you just want to buy Bitcoin and Ethereum, if you're coined based account gets hacked coin makes actually has insurance on it that if you lose everything to a security breach on their end, they actually have insurance and supposedly will. Then you will be able to just get paid by the insurance company for whatever you had on there. That's a very nice feature. Now, another risk of doing this. The main risk doing this is not from the outside. And that's going to be bad news. Potentially does. Maybe to you or others. The main risk is not outside off the market, collapsing off someone, hacking or stealing. The main risk is inside, and that's why I've built this system because this system is impartial. It's not emotional. It takes out the biggest risk, which is me. I've lost thousands of dollars before. I got luckier, did good research and promoted How everyone a word. My successes. You might call it with Dash. At least today. I don't know. It might be a big failure tomorrow. You never know, and eventually all of us die. You don't get to take money with you, at least not that I'm aware of. I didn't come into this life with any money. Maybe you do get to choose your parents, and I could intentionally be born to myself and bring my inherited thin. But that's a whole nother story. Now the biggest risk is messing it all up yourself off. Getting involved emotional, making, foolish decisions, putting more money you can afford to invest and then trying to trade and speculate. Those to me I see, are the very biggest risk. Those are the places No. One I'm grateful to date. At least that could change in the future. No one to date has stolen or taking any money from me online, but I've found ways to lose thousands of dollars trading online crypto currencies. And that is one of the biggest risk is that you can get a fat head, a big head it like I'm this super smart crypto currency trader. And then when whatever a thing happens, then you lose everything. You put it all into a crypto currency that gets delisted. The biggest risk in life tends to be me. The biggest weak point in this system tends to me. Me. That's why I've built this whole system up, is to show exactly how to do it. While taking the biggest risk factor out. And most of us like to discount the risk factor of ourselves. We like to look at all like with my dash master known. Sure someone could hack it, Someone I know. Could fig kind of find a way to steal it? Yes, that's possible. But the biggest risk of losing it is me. My actions are likely the biggest way that it's likely to get lost. I was thinking about selling it when it was that $40 sure, maybe in the long term value you might look at and say that was good. But the bottom line is the biggest risk to doing any strategy into doing most anything in life is my own mind, my own self sabotage efforts, and that's why we use systems. This is a system that I hope will help you eliminate the biggest risk getting involved in crypto currencies. There's a lot of fun getting involved in crypto currencies and presents a lot of great opportunities, but the easiest way to mess it all up is for me to essentially get involved in it. So I've made this system that takes me out of it. I'm grateful. Now I've bought 50 of these different currencies and you'll see I still have about the same amount I started with, and I'm grateful today to have the chance to see what happens. 12. When and how to cashout on Bitfinex: How do I cash out and when do I want to do it on bit? Finex. What I'm planning to do is hold on for at least a year for each month of investment. I'm planning to put in every month on bit Finex, using my dash, master node and toe hold. Whatever I put in that month for at least a year after a year, the easiest thing to do is simply rebound your portfolio, which, according to the IRS, the tax is still a little bit murky from my own research. I'm no expert. Officially, I don't know what it does seem, though it seems that you may or may not have to pay tax. It's not exactly certain when you change, for example, ethereum to Bitcoin or dasher Manero, toe Bitcoin and then Bitcoin back over to something else. You might not have to pay tax on it, but you might also, I don't know for sure the IRS could require you every single time you change it to calculate capital gains Now. It seemed kind of unnecessary to calculate all of that before you went and cashed out into U. S. Dollars or pounds euros. One whatever. But for me, I plan on holding these and then as needed, to do some portfolio rebound thing. So if one of these currencies blows up, I might consider selling some of it into one of the others that drops. However, my main plan is just to keep funding it on an ongoing basis and not rebalance my portfolio that often if you do have something, for example, I don't want to hold on to any dash on bit Phoenix because I already have 1000 dashed. I don't need to have any dash on here, so I, for the sake of the tutorial, showed buying dash. But now I'm going to sell Dash as well. So what I do to cash out? I could sell dash directly in the U. S. Dollars. But what I want to do is sell dash into Bitcoin. And then if I want to buy anything else in Bitcoin Aiken, do that so I can just do calculate the maxim own. I could sell. I can exchange cell. I don't know if it's went down or up since I bought it, but I hit exchange cell and now I've sold the dash. I had on here, and it's available now in Bitcoin. I think I don't have to pay any tax on it because I haven't changed it back and forth to U . S dollars because at least in the US, you need to pay tax for sure. If you change from Bitcoin or any other online currency in the U. S. Dollars, I encourage not selling for at least a year to pay the lowest tax. However, if you want to exchange it all you need to do on big Phoenixes, go sell whatever it is into U. S. Dollars, and then you do a withdrawal. Now you need to have your identity verified. I'm bit Finex to do a withdrawal. If you have another wallet or something, like coin based, though, you can just withdraw from bit Finex into big coiner ethereum on coin base. And then you can just cash it straight back into your bank account with no extra a CHP, although corn based does it. You with 1% fee buying and selling back and forth. Meanwhile, if you want a wire transfer on something like bid Finex to withdraw, you might get hit. I think my bank hits me with at least a $20 wire transfer fee plus bit. Finex makes a fee both in the with, I think a minimum of $20. So check the fees whenever you're going to sell. This whole system is meant to build a long term nest egg. Financial independence. What I see is a weak point. You don't want to mess around going back and forth between Bitcoin the U. S. Dollars to dash to Bitcoin toe dollars to your bank account back over the bit. Fenix, you don't want to do a whole bunch of back and forth because that takes a lot of time and a lot of energy. That's how you can change back and forth to U. S. Dollars pretty easily. Instead, you just go up to the trading and whatever you want to do with us dollars. Like if I wanted to change my theory in the U. S. Dollars, all I need to go is market exchange cell, and that would instantly go into U. S dollars in my account. Now Polonia axes a little harder to withdraw because in the sense that you have to withdraw it to another account, you If you, for example, use bit. Finex and you use Polonia acts like I do. You could withdraw your Polonia Axe over the bit, Finex and cash it out there. If you wanted to say cash, everything. If I wanted to cash everything out the lowest fee way for me to do it will be to sell all these currencies, put them over into bid Finex. And then I mean depending on how much I had. If you have under $1000 coin base is one of the cheaper options. I know off. If you have over $1000 it's several $1000. And for example, if I had $10,000 on this, the cheapest way be to cash it all out back to bit Finex and then send a wire transfer over that way from bit Finex over to my bank. Because if I had $10,000 coin based going at me with 1% fee to change my Bitcoin, which is $100. Whereas I should be able to pull it out with a wire transfer from bit Finex for a band including my banks fees about $40. So if you're in the 11,000 range. You might just need to look at the fees. But if you're over 10,000 you definitely, at least from what I see. Want to use a wire transfer directly from somewhere like bit Finex, where you can get the very best exchange right bits. Stamp is also a good website. You could withdraw from there. You could. If you're in the EU, I think that's better for or as good or better than buying on coin based. You can put funds in there pretty easily. I believe in the EU, so withdrawing and selling this is relatively easy to dio the main challenges. You need to usually have your account verified if you're going to make a withdrawal on bit . Finex, you have to lie to literally submit my passport, my driver's license, a utility bill, and I had to take a selfie of me holding a note. They take verification very seriously on websites where you can change and put things back in your bank. So withdrawing this is not something you don't want to set this up, in my opinion, as something you're going to go back and forth in a bunch similar toe having an IRA or 41 K You just keep putting the money in there. The idea is, the crypto currencies in 10 years ought to be worth a whole lot. Just changing them out in the short term might be tempting until you start looking at all the work and all the fees to go make the cell. So I hope this is useful and learning about the buying and selling fees, especially if you try and withdraw it with wire transfer, you are likely to get at least $40 in fees between your bank and the exchange, possibly 50 or even higher. So I hope this is helpful to know about before you have important money on or why you've got your money on the Think about withdrawing it it so thank you. 13. Is the investment liquid and is there a penalty for withdrawing?: for investing in these currencies. Is this similar to putting money in where it's tied up like an IRA or into some kind of 41 K where I can't take the money out with a penalty, or is what I'm sharing something that's as good as having it in the bank in terms of a liquidity? What I'm sharing here is outstanding in terms of liquidity, because I have on bit Phoenix Right now I have a 0.55 Bitcoin, which I can cash out into U S dollars and send a wire transfer over as soon as they finish verifying my count. Or I can send it out back to coin based over here. And I can have that. I could literally have everything I'm showing you on the way to my bank account within a few minutes and have it in my bank account within a week or so. That's why this is awesome. And now the downside. This is after tax money. It's similar to a Roth 41 care ira. I have to pay tax on any of this. For example, I earn money from my dash master note Each week I have to pay tax on that bought from there , I can invest it once I've invested it. Then I don't have to pay tax until I sell it. And that's why I recommend buying and holding. Because buying and holding you pay for at least a year in the USA. At least you pay much less tax that way, depending on your tax bracket. I'm not an account meant I'm not an advisor. I'm not a financial professional. I'm nothing except a guy with a master's degree in criminal justice who teaches classes online because I can. And because you help me do that, what I'm sharing with you then is awesome because these air liquid assets, if, for you need the money in an emergency, you can take these out. I have $69,000 of dash day, which I could get toe work on cashing out right now. I could literally send that through shape shift and have that all of that dash in my I could turn that and I could change this number in the $69,000 which after fees would probably be like 68 or 67. I could change all of that into cash right here in my U. S. Dollar wallet and coin base and my face is in the way. Nice. I could change all of that into cash in my coin based account and put that into my bank. I could, and a lot of people recommended that I just cashed my dash out and stick that in the bank. And maybe that's the right thing to do. Maybe it's not. The price of Dash might go up to 200 or $1000. It might go down to a dollar. The truth is, I don't know, but the beauty of this system, everything I'm showing you you can easily liquidate you If if it's on Polonia Axe, all you need to do is you do the critical point. You need to have some system to transfer Fiat currency directly back and forth into these online currencies. I use coin basis. There are other options that I'll show you, but this whole system is liquid. You're essentially keeping the money in that a user managed form of online cash. So this whole thing can be liquidated within ah, week or two, or if there are a few ways you could actually liquidate it faster. So this money is available when you need it. However, you have to pay tax on it first if you're in the US at least. 14. Diversification versus sticking with one cryptocurrency: Is it better to diversify or to just stick with one currency? What I'm showing you can be done with just one or a very small number of currencies you could buy. Just Bitcoin you could buy just a theory. Um, you could buy just any of these what I've done so far as I've put most everything into dash after trading in a bunch of different currencies. After speculating on Bitcoin and Ethereum, I've put everything into dash. But the problem is, if you put everything in tow one, you are essentially risking everything. Now my strategy for Dash was actually to make my own opportunity. I put I put all my money in the dash and then I started promoting it. So I essentially lay the foundation for me to increase the value because that look I bought it. It's good, like there was a guy. I don't remember his name, but he he buys the whole but here's what he did in the stock market. He bought a whole bunch of Apple stock and then he tweeted that he thought Apple stock was undervalued. And guess what? Ah, whole bunch of people bought that apple stock after him, and then what did he do? He sold it. I essentially have done the same thing with Dash, except I'm holding it. I I bought it when it was lower, and then I started promoting and talking about it. If you can make your own opportunity like that, with especially one of these newer currencies, if you can be one of the first people who gets involved in it and loves it and puts all the videos out and tell your friends and family, excuse me then that might be a good opportunity. However, for most of us and what I'm doing now, I'm diversifying because you can't tell what's going to happen. These currencies air all very vulnerable to falling apart, crumbling from the inside, getting hacked taken down. And if you just put all of your money in tow one or two, you've created a much bigger risk. If you diversify, then you're less subject to the unexpected. So what I'm doing going forward is I'm diversifying. I've got enough invested in dash and I've got a master. No, that's actually producing more dash now. Some of these not very many but pin Vicks dashes one so dash simply by holding 1000 dash and putting it in a master node. You actually get paid 1.8 right now or so dash every week or so. Therefore, even with of the motivation to hold the dash is that then I'm getting that payment every week for the master known. So that's a true asset. It actually produces something independent of its value. Well, if you want to sell, it just produces dash. It just pumps it out. There's a very few number of these. Currently, that offer that pivots is another one, and this is what motivated me to make this. I saw it with 70 or 80 cents last week, and I thought, Man, I want to buy that when it goes lower. But guess what? Now it's up to you on a pivots. Master notice. $15,000 to get a pivots master node today instead of seven instead of $7000 like it was last week. The challenges. You can't know what's going to happen ahead of time, and especially for just getting started and for doing something on an ongoing basis. I think it's essential to be diversified. What if I had been wrong about my dash investment. There are some of these that are pretty much the same value. Ripple is close to the same value it was three years ago. If you'd put 10,000 into Ripple, I believe I can look at the chart here to verify. But I believe if you put that much into Ripple about three years ago, you'd still have about the same amount today. If you look at the All on Ripple, then this is a good example. While it was a little bit lower back here when they've tracked it and then at various points in Ripoll, it's been about the same it is now. It just recently spiked, so you could have essentially, if you put all your money into Ripple, you wouldn't have made a whole lot in three years. Whereas if you point, if you split things up, the ones that do really well get you farther ahead than the ones that perform poorly. And that's the beauty of diversification. Let's say I'll do a calculator example here, let's say you put ah 100 off whatever digit you want or let's say 1000. You put 1000 in and you just put, say, 10 into everything. You put $10 into 100 different things. Well, the nice thing is, if one of them goes up 100 times, if just one of them goes up, you could literally lose all the rest of your investment and still be even. That's why diversification is so amazing. You then essentially can bet on 100. It's like a horse race. You could bet on 100 different horses, and if one of them is a gigantic winner, it'll make up for a ton of losses. But let's say, on average, most of the rest of your 1000 overtime went up, say 20% and then one went up 100 times, Then what you have you would have made over 120% then and now, even if some of them lost, let's say 20 of them, let's say 20 of them or a total loss. If you completely lost everything on 20 of them, you'd still double your money. And that's the beauty of diversification is you don't have to know. You can simply trust the whole market, and the big winners will make up for the big losers. 15. Basics of paying tax on transactions: How does paying taxes work with online currencies? If you're in the US, it's somewhat of a nightmare. The recommendations have different ways of classifying and looking at it. If you simply send it as a payment, then is treated differently if you're buying or trading it. Also, some people suggest you have to put every single individual transaction on your taxes and then do capital gains on that. I simply summarized on my taxes because I had anywhere from I'm not even sure, but somewhere between 1000 and 10,000 individual transactions last year, among all my trades on Pony X, all the different price I bought at all the different price I sold at I was buying Bitcoin every single hour. That's 20 some transactions a day in 10 days. That's 240 transactions and 100 days. That's 2000 foreign and transactions just in buying Bitcoin. I think for the tax is one of the simplest things. If you're in the US, at least is to buy and hold for at least a year. Why? Because you pay a fixed capital gains tax of 15%. I have this issue with my DASH master not right now. If I sell my dash, I paid 11,000. If I sell my dash for 69,000 that's 58,000 and profit. Then I have to go in and pay regular income tax, which could be 20% or higher on all the dash I've sold. Also, if I cash my dash out right now, I stopped getting 1.8 dash, which currently is ah, 120 or so dollars every week. Therefore, with these online currencies, it seems best to diversify and then plan toe hold them. Now, if you congrats on entire master node on dash or pivots or one of the other currencies and there's not that many a master nota actually allows you to receive payments on a regular basis that might be worth going all in over. The problem is, if you say, going for a pivots master node right now, 15,000 today to get a pivots master note. What if pivots doesn't work out? What if the the communities very basic is just beginning? What if it doesn't work? You could put 15,000 into it and end up having nothing. Whereas if you put 15,000 into the entire market. You're virtually certain maybe not to get his big oven increases, say, like with death. But you're virtually certain to keep growing over time. And if there's a slump, you're likely to not take the brunt of it. So bad as some currencies won't slump is bad for others. But for me, with the taxes, I'm setting everything up in a buying hold strategy, and I'm just buying then once a month, because that makes eat my trades easier to track the MAWR trades. I have the Maura counting. I have to dio, Therefore, once a month allows me to essentially by a certain amount, and then I can sell it after a year if I want to. At a flat 15% tax Now, the capital gains is the lowest it's ever been. As far as I know. That could change any time. The higher esque it up the capital against the 20 or 25%. So I if you're in a different country than there's different tax laws, I encourage researching these to see what strategy might be best for you. Obviously, I'm not an accountant or anything. I'm just talking about what I do my own research. So I hope this is helpful for you in looking at considering the taxes on making any sales. Now, as far as I don't see, I don't have to pay tax unless I sell back to us dollars. Now some might argue. If you sell into Bitcoin new Ethereum, you should pay tax from there. If you do a theory of the dash, then you should check each of those for capital gains. I'm keeping it simple. I drop a summary line, all of my big coin, all of my crypto currencies in all that I sold all at once. I think on last year I made several 1000 buying and selling all the crypto currencies combined, and then I had the remainder than sitting in the dash. So if I just buy it and even if the price goes up, if I don't sell it, I don't have to pay any tax on it. That's what's nice with the Desh. If if I hold this the rest of the year, I don't have to pay any tax on it this year, and the higher it goes up, I can then pay tax whenever I do want to sell it. So for me, I'm looking at This is a retirement package because I'm 32 and it's time to be saving for not as much retirement. It's time to just be building something for a rainy day. So thank you for learning about the taxes, the basics with May I encourage you to do whatever research you need to do on your own to find out more. That's how I learned all this stuff this by Googling. 16. Avoiding trading, exchanging, and speculating: what is the one thing you absolutely want to avoid With this strategy? The one thing absolutely avoid is the panic. Sell out the panic. Sell out. You do not want to do that. What is the pain? Uccello? That means when there's a red letter day when some country passed the law that bans Bitcoin . I mean, maybe you might, but you really don't want to sell right when there's a panic, because that's the best opportunity to hold on and come out ahead now. Sure, sometimes the market may take a dive. It's currently worth these. Cryptocurrencies are currently worth. How many times they say current cripple $28 billion. They could easily take a dive from something happening down to 14 trillion, down to 10 trillion. They could take a massive drop. Bitcoin might drop to back to $100. Some of these others might absolutely plummet and become worthless. Those are the great times toe by. If you really believe in the crypto currencies, then you're not looking to just jump ship When something bad happens. I believe in these and unless they're completely banned in the USA by the federal government with immediate threatening litigations or whatever. Then I'm not selling pine because the worst thing most investors do is cash out at a big discount during a panic. How do I know? Guess what I was doing the other day. It was like maybe a month ago, the Securities and Exchange Commission made some ruling about rather a exchange traded fund contract the price of Bitcoin, and they voted it down. And guess what me and probably thousands of other coin based customers were sitting on hear clicking cell over and over again. I had, like 2000 Bitcoin, which now I've invested most of it on these other exchanges. As I've shown you, I was sitting here trying over and over again to go on the buy and sell and hitting my buttons here, trying to sell in the whole website, locked up. And guess what? I'm lucky the website locked up because I would have lost several $100 fooling around, selling right when there was a panic. It's so tempting to sell when there's a panic. For example, if there's some Ethereum panic and it goes down to $10 and you're holding the theory, Um, that's one of the easiest times to essentially lose your money. You cash out at $36 feeling like you've got a really good deal. It goes down to 30 and then goes right back up to 50. And all of a sudden you realize you just lost. Ah, huge percentage of it for no reason. This strategy also on Polonia Axe with all these different all of withholding all these This is not something you want to take the time to do and sell all these in cash out is very time consuming to do this on Polonius, even on bit Fenix, where I've got these different balances here. I mean, I could cash this out in about 10 minutes, but still that takes up time and energy. And I'm very likely to make a bad decision. Emotionally. Emotions air. One of the biggest problems I've found in investing. We invest and get all excited when something's high and then get all afraid and scared and selling some things low. The average investor buys high and sells low, And the truth is, I've been an average investor for most of my time with crypto currencies. I've made so many different mistakes That's why I tell you about them, because I've panicked like I a bought. When the Bitcoin Price dropped a 1 70 I bought 20 or 30 Bitcoin with all the cash I could stand, and I sold it it. 200. Yes, if I had that 20 or 30 Bitcoin now that be worth quite a bit, wouldn't it? That's what the average investor doesn't. At the time, I thought I was a real smart guy. But see, as soon as I had made a little bit of money on it, I sold out. And if I would have held on to that for a couple of years, I have made 20 or $30,000. Just holding on to what I bought when everyone else panicked. When things are going bad is a really good time to buy in what I do. I'm putting a little. I'm putting a Bitcoin or so every month in If there's a panic, that's where you get the good deals. Those of the fire sales. If coin market, If the crypto currencies tank, that's your opportunity to make a big profit. Lately they've been ballooning up a bunch. The Bitcoin price has been kind of flattened. Most of these other ones have been going up a lot. It's a good, it's hard to say, Rather, it's going to keep going up or what's going to happen with it. But I'm sure there will be a day. At some point. That's a complete disaster. Some exchange will get hacked, all the funds will be frozen. And the nice thing is, if you're investing in amount, you're comfortable losing completely. Now I'm not saying you want toe lose completely. I'm saying an amount that you won't. You won't go commit suicide because you lost everything you want to put in an amount that if you're exchanged, if Polonia X get hacked and Polonia's gets hacked and I lose my $600 I'm okay with that. As bit Phoenix gets hacked and I lose my $600. I'm OK with that, and I'm comfortable putting a little bit Maurin each month. And if it gets hacked in another year and I lose $6000 I can live with that. I'm putting in a few 100 a month that I'm usedto I will then be used to not having everything comes with risk So what I encourages. Don't panic and sell out when things are a little bit difficult. Stick with it and don't get involved with it if you honestly just want to make a quick profit because there's opportunities to make a quick profit. But there's also opportunities, as I've found out many times, to spend a bunch of time and money on Lee to lose it. I was trading on Polonia X for months, and I was feeling pretty smart. I had made three or four Bitcoin trading on Polonia Ax, and I felt really smart. And then guess what? There was a big old coins sell off and which I proceeded to lose all that I had made and some more. You can't know when's the right time to buy and sell in advance. You can get lucky. Sure, I could sell my dash right now in a compliment to $6. I could get lucky, but I would lose less sleep if I held on to it and went to $6 than if I sold it and it went to 200 or 500. Imagine that today I invest with the intent to stay in and From what I've seen, most of the best investors in the world buy and hold. They buy things and stick with them. They don't just actively trade all the time because the best investors in the world, from what I've learned from Tony Robbins and his interviews with them, the best investors in the world realize they're not smarter than everyone else. They're not as lucky as everyone else. They have to make systems that work in any market condition, and I hope this is a system that works in any market condition for you. 17. Where is the price trending for Bitcoin and altcoins?: Where is the price of Bitcoin and cryptocurrencies old coins generally going? I think that Bitcoin and more generally, other online currencies have an outstanding future. The thing is, I don't know. Rather, it's specific to Bitcoin. Bitcoin is currently the majority of the market. If you look on coin market cap, they tell you how much Bitcoin is dominating. Currently, Bitcoin has 67% dominance, which is the lowest it's been in a long time. As people start wondering what's going to happen to Bitcoin as it continues to develop, I don't know what the price of Bitcoin specifically is going to be in 1 to 5 years. What I cannot have confidence in is that all the crypto currencies generally, if you look at the total value, the entire market capacity of all crypto currencies, I'm going to guess that is going to be significantly higher today. The market cap on online currencies is $28 billion. I think that online currencies easily have the potential to be a trillion plus dollars. That means four times what they are today Now, Bitcoin itself might totally die. Bitcoin might go down to $100 or $50 people might completely abandon it for big coin on Limited for Don't Say dash again, Jerry for Anna. For any other online currency, Bitcoin might get done just left behind some of the years ago when I reviewed the historical charts earlier in the class. Some of the charts show currencies that you can hardly find today, which effectively were really high priced and had a bunch of hype and excitement that don't hardly exist anymore. I don't know where the price of Bitcoin will go in the next 1 to 5 years. I'm fairly certain that online currencies, crypto currencies generally will go up significantly. Therefore, I think the best strategy is to just have the whole market. And then is the Aziz the market capacity to continues to increase? Then there's great opportunities. I also believe just consistently investing over time because right now the market capacities 28 billion. However, it could have a crazy drop and go down a 14 billion over the next three months. It could lose half the value, and it could come out of almost all of the currency's. The nice thing is investing over time. If the market plummets over the next year and I keep investing the whole time. I'll keep getting a better and better and better deal and I'm fairly certain, given the data, I see that online currencies will be at least a trillion dollar market capacity in the next 1 to 5 years. Therefore, I'm looking at every dollar I put into investing in the whole market of crypto currencies. I'm betting that that's going to be worth $4 in anywhere from 1 to 5 years. That's why I'm investing, what I can afford to today about a Bitcoin a month, half of that from my dash master node currently, and I'm putting that into the whole market generally. So this is why I think the future is going in crypto currencies generally in terms of Bitcoins. Specifically, I don't know where it will be at, but I can guess The whole market for online currencies is going to keep growing and growing . Even if it does shrink for a while, it should continue to keep growing excellently over time. 18. If already invested, stick with one or trade into others?: What if you already have your money in a certain currency? Is it better to stick with it or cash out? I've got a great scenario for this situation because I currently have nearly everything tied up in dash. Now, Dash has master nodes, which then actually make a payment to me for, ah 100 or so dollars every week at the current market value. I think if you have something that actually pays you out like a master noted, you've got a node or you need the currency to get paid out. Then I think it's ideal to hold on to that and keep receiving the payments. Even if, say, the dash price plummets. I've still got my master node payments coming, even if they're really small. And then if it goes up my master, no payments get even bigger. If you're holding another currency, though, and it doesn't pay you out somehow, I believe it's best to diversify. That said, if you have a way to promote the currency specifically, it may be better to stay in that one currency and promote it. For example, if you're holding ripple and you just love ripple and you're sure ripples going to go in your active ripple community member and you tell all your friends and family about Ripple. When you make YouTube videos about Ripple, then maybe it's best to just hold that one currency. It might also be best to diversify somewhat, maybe sell half 1/4 and put it into some of the others using the strategies I've shown now for me, if I sell any of my master node, I don't get the benefits anymore. So I'm kind of stuck in the sense that I need to keep my master node to get. Keep getting the rewards. And that's what's good about Dash, I think is it essentially tries toe lock in a significant percentage of the whole market so that the people don't just trade it. Then there's a huge portion of the dash, more than half of all dashes held in master nodes, which gives it stability. But there's new currencies coming out, and I encourage you to google it. Teoh Crypto Currencies with master knows because there's new ones getting added pivots Has master knows I could have bought one for 7000 last week if I would have like taking a loan or something, or asked my wife for money. But if I wanted to buy one. Now it's 15,000 pivots has master nodes, which also pay out at a good rate. But the same thing. If you've got all of your currency invested in one, you're very vulnerable to something happen with that particular currency. If you're invested in a bunch of different currencies, you're not likely to get a really high upside. For example, if you absolutely love Z cash in your crazy fan about Z Cash and Z cast goes up to being as much as a Bitcoin. You might make 20 times what you have in Z cash. You might not make a much like 20 times. Like, for example, if I'd had my crib all of my money spread across the whole market at the beginning of 2017 . I probably would not have made if I'd had 10,000 spread across the top currencies. I don't think I'd have made I don't think I have gotten about a $60,000 increase in it, but I probably would have gotten a 30 or $40,000 increase in it now, while Bitcoin didn't go up that much at theory and went up a lot. Ripple light coin went up significantly. Dash went up. Goodman Arrow went up all these different currencies. If I had invested in each of them, I wouldn't have gained as much. But the same time I wouldn't be vulnerable toe one particular currency collapsing. It's I don't think there's any perfect recipe. I think each of us has the unique opportunity. Look and say, OK, what's best for me? I went all in with Dash because I also have the ability to promote it. What I noticed in Tony Robbins, Money Master, The Game book, one of the world's top investors. I forget their name, but if you read all or listen to the whole 14 hour audiobook or 600 page written book, you'll see exactly what I mean in there. One of the investors said that if you can make your own opportunity, that's one of the best ways to do it. Already mentioned this before it might have been the same guy who tweeted about Apple. It might not have one investor on Wall Street grabbed a whole bunch of apple stock, then sent out a tweet that said he thought it was undervalued when everyone went in then Not everyone, obviously, but a bunch of people all went and bought Apple stock right after he said that. Guess what he did The next time be balanced his portfolio. He sold a bunch of Apple stock and put it into his other stocks. That's an example being able to make your own opportunities. If you're holding, say, Manero and you love Manero and you can make your own opportunity with it, then that might be the very best way these online currencies a lot of them, especially if you scroll down here. These are very small communities. You can make a huge difference in a small community. One person can make a gigantic difference. If the total market cap $30 million on, say, game credits your investment in game credits. I just made one today for something like $12. My investment in game credits makes a lot bigger difference than it does in Bitcoin. My $12 is nearly irrelevant in Bitcoin when I go down and look at some of these others, though my $12 starts to be a significant investment as the continued. As you keep scrolling down on the market gets smaller and smaller. You can see the $12 becomes significant in two million. It may not be something everyone gets excited about, but $12 in 19 billion is not even noticeable. That's a rounding error. If you put $1000 so you've got a significant part of one currency. It might be better to be a big fish in a small pond. If for Ripple. I wouldn't say it's a small pun, but it might be better if you really love one of these and you're you're raving fan. It might be better to be holding a significant percentage of the whole market instead of trying to just be one of the many voices in a bigger crypto currency. So thank you very much for watching this. I hope this look at rather divers vacation or balancing just keeping everything in one currency. Shifting in around is helpful when I'm I'm holding all the my master no dash, but every reward I get from it is being sent to bit. Finex. Starting with the next month's worth, the master node rewards and I just used the Bitcoin I had, I was putting it on coin based. And now it's on here. So I've got I am putting my all the dash I get from my master nodes. What I'm using to fund my bit Finex account now, So I'm kind of doing a bit of both. I'm holding my dash, but I'm using whatever dash I get out of the master node to then diversify into other currencies. 19. Which digital currency is the best to buy and hold?: which online currency is the very best to buy and hold. What I realize is that I honestly don't know. As I've looked at the historical data, some of the currencies have been surprisingly up and down. For example, I think it was a light coin was up to $25 at one point, and now it's down the $10. But it's up from recently being two or $3. I don't know honestly, which ones are the best to buy and hold now. One strategy you can do is try and research and look in each individual coin. And this is what I did with Dash. After researching on a basic level some of the other top currencies and getting some outstanding information about dash some new things that were coming up based on publicly available information, I put all of my money. I put 10,000 or $11,000 everything I could afford to invest. I put that into dash when it was $11 now it's 69 $1000 worth and as I've looked at that, I thought, Well, that's kind of lucky because there's other currencies that are good and I don't want to depend on luck to pick currencies. I'd rather pick currencies that have a good chance off long term sustainability and it increasing over time. But at the same time, I can't predict the things that are unexpected. For example, Dash might completely fall apart and implode in some one way or another from an asteroid falling as a meteor than and wiping out the dash team in person or a hack. There's no way to tell what is going to happen. So the Onley, the way to minimize the risk, is too, just by the top and then to go deeper, to get some of these really good values. Now some of these, as you scroll deeper, are likely to be a complete waste of money I've bought under Polonia Axe. I've bought 50 or 60 different things of these on Polonia Axe, and some of them were delisted and I think in one day I lost one or two Bitcoin as there was some panic, and then a bunch of them were delisted that I then was not able to cash out or the price falls. Often from say, the price is one. It will fall down a point to it will fall 80% in one day once it's been delisted. Now you can go research. Nina Muna, Mike closer. You can research if you know exactly if you want to spend your whole life investing in crypto currency. Sure, you can research each one. You can sit on the forms. You can sit in slack chats. You can try and get to know every person and that is involved with all these different currencies. Now, if you have time for that, feel free to do it. I don't. I don't even have time to actively participate in one. I don't even have time to just sit there and be a part of the dash community. Why? Because I already have enough other things to Dio. If I want to do something new, I have to get rid of doing something else. And I'm guessing your life is not just filled with time. Although if you're watching this with me, maybe it is. You know, maybe it is. The point is that you don't know. No one knows exactly what's going to happen with any of these in the future, however, betting the whole market just like with the stock market. Betting the market by creating a balanced index fund can allow you to participate in the gains and minimize the impact of unexpected events. Right now, if something happens with Dash, that's a disaster. And Dash goes down, let's say goes down the $6. I'm in a position where, if just that kind of event happens, I could lose, like, 60 $70,000 overnight, and I'd rather not be so vulnerable now. I bought my dash with a plan to hold it for a least a year, so I'm holding it. Even if something horrible happens, I'm holding it now. I'd like to, for the future, be able to retire someday, and how I can do that is to invest in all the rest of these in a bunch of these. And that way, if one of them let's say of Bitcoin just dies and Ethereum in rippling light, coin and dash take over, then I don't lose everything because I'm holding a bunch of Bitcoin and I, in fact, have a good chance to profit with ease. But let's say Ethereum gets cracked and falls apart in rippling like it. Coin and dash all fall apart and say Manero or new economy movement rice of the top. If I'm invested in all of them, then I will come out ahead more than likely, even if the top ones fall apart if I'm investing in a bunch of them. So my strategy is that I'm showing you exactly how to do is to buy the market and just keep investing. And then I don't have to spend a bunch of time researching the currencies. I essentially trust that if they're up this high on the leaderboards, that other people have done that for me or that speculators air messing around and maybe occasionally I'll get I'll just lose my money by putting into it. But that's OK, so I'll show you exactly how to buy the market. And I think this is a way to guarantee you pick the winners. And if you pick some losers, it's not a big deal. Whereas if I had put my 10,000 in the dash and it still could happen, Dash still could wind up being a big loser there. Several currencies that don't exist that it ben gigantic losers over time and it imagine If you're betting on horse racing, wouldn't it make sense to just bet all the horses? Therefore, you're guaranteed that one horse is going to win. 20. Are there potential risks to my bank account?: What about potential risks to my bank account? Is it legal to transfer all these online currencies? Yes, it is, at least in the USA in Florida, where I live, it is your country or state may differ for me, it is completely legal to transfer in these online currencies to put my money into a different form that's legal. You can potentially have problems with your bank account, depending on your activity. Oh, the worst thing that's happened to me. Well, it wasn't really that bad. Losing thousands of dollars trading Bitcoin on coin basis one between us dollars and Bitcoin. That was one of the worst things that happened to me. Ah, one of the worst external things that I'm to me. I got my bank account closed because I was buying and selling Bitcoin. I was by in one week I received $10,000 of cash deposits into my bank account using ah friends website wall of coins where I put a ton of Bitcoin. I had 5678 Bitcoin on there all at once, and people just went through and bought all of it. And my one business bank account got closed because of all the large cash transactions, people putting $2000 in at once in a branch in Nebraska and then putting $3000 in or whatever in different places. And as Chase Bank, I imagine, saw these cash deposits coming in from all over the country, and it cracked the $10,000 limit or that I think it was close to $20,000 in a month. It triggered whatever audit system they have in place, and they closed my bank account. What I'm suggesting doesn't involve any of that if you simply use your bank account to do in a CH transfer over the coin base. I've never had any problems with that now that potentially might have been an additional issue if they see all these cash deposits coming into my bank account from people who are not me. And then I'm sending out wire transfers for tens of $7000. I think was the single biggest one over $20,000 in one month, and sure, if they looked at all of that together, that might have motivated them to close my account. However, I haven't had any other issues with any of my other bank accounts. In fact, I simply bought and sold Bitcoin back and forth for years without having any problems. The only thing I did that caused a serious problem in getting my bank account closed, which is not really a serious problem. I'm actually just gonna close that hole company that will save me. Ah, $1000 a year. So I'd say that was the opportunity. I haven't. If you don't involve cash transactions, there shouldn't be any issues. If you do need to buy Bitcoin in cash, you and or you want to sell using the system, I've got a system showing how I buy Bitcoin. I've got a system showing how I buy Bitcoin at how I did all this. And if you don't do it in large transaction amount, you shouldn't have any problems. I show exactly how I bought Bitcoin and 101% on coin based and sold it at 111%. If you Onley accept transactions up to $180 then you shouldn't have any problem with your bank account getting closed. Why? Because the transactions that are smaller cash deposits are not likely to interest the bank . The bank takes interest in larger amounts of money because the banks are afraid of getting in trouble with assisting in laundering money. If it's just a little cash deposit here and there, they're not likely to care. But if it's thousands of dollars and in huge deposits from all over the country, then yes, the bank's going to pay attention to that. So if you want to buy Bitcoin in cash and be able to market up 10% sell it. I have a class that explains exactly how to do that. And if you don't take deposits over $180 there shouldn't be any big risk to your bank account. Why? Because you won't get is many transactions, either. But hey, it will be You can make, like $18 on every single deposit. I I enjoyed making 10% on $20,000 in a month, and at the same time, I'm not buying or selling anymore Bitcoin in cash. So I'm not worried about anything happening to any of my accounts now, so I appreciate. Lenny asked the question that said, Is there a risk of getting your bank account closed. If you're using a website like coin based, you're simply doing a CH transfers to invest. As I've explained, then there should be no risk of having any problem with their bank account anymore than using it. Normally doing other things in life. Banks don't as far as I see, don't have any aversion. A Bitcoin. They do have very strict standards when it comes to making cash deposits. Just to try going to make several multi $1000 cash deposits in your own bank account. And you probably will more than likely start finding more and more questions getting asked by the bank. You may even get your count closed doing that. So I'm grateful you're here, and I hope answering this is helpful for any of those concerns you might have.