How To Buy Cryptocurrency: Bitcoin Investing For Beginners | Will Bartlett | Skillshare

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How To Buy Cryptocurrency: Bitcoin Investing For Beginners

teacher avatar Will Bartlett, Video Creator & Entrepreneur

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Taught by industry leaders & working professionals
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Watch this class and thousands more

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

Lessons in This Class

19 Lessons (1h 29m)
    • 1. How To Buy Cryptocurrency: Bitcoin Investing For Beginners PROMO

      0:59
    • 2. 01 Introduction

      3:36
    • 3. 02 Getting Started

      2:34
    • 4. 03 Introduction to the Cryptocurrency Marketplace

      5:44
    • 5. 04 Ethereum Cryptocurrency

      4:26
    • 6. 05 Intro To Alt Coins

      3:55
    • 7. 06 Intro To Different Markets

      1:36
    • 8. 07 Cryptocurrency as an Investment

      2:57
    • 9. 08 Strategy 1 Buy and Hold

      8:03
    • 10. 09 Cryptocurrency and Taxes

      2:49
    • 11. 10 Strategy 2 Trading

      3:50
    • 12. 11 Overview of Hard and Offline Wallets

      2:58
    • 13. 12 How to buy Bitcoin Part 1

      8:11
    • 14. 13 How to buy Bitcoin Part 2

      7:33
    • 15. 14 Account Enhanced Security

      2:29
    • 16. 15 Intro to Cryptocurrency Exchange Account

      3:54
    • 17. 16 Trading Cryptocurrency

      8:23
    • 18. 17 Intro to Cryptocurrency Market Graphs

      10:06
    • 19. 18 Final Thoughts

      5:10
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About This Class

Welcome to our How To Buy Cryptocurrency: Bitcoin Investing For Beginners class!

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

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

In this class your Instructor will teach you about the blockchain, cryptocurrency fundamentals: how to buy, sell and trade and more!

In this class you will learn:

  • How to Invest in cryptocurrency
  • How to Buy, Sell and Trade Cryptocurrency
  • How to use real money to buy Bitcoin, Ethereum, Litecoin, Neo and other Altcoins
  • Cryptocurrency fundamentals such as the name, volume, price, volatility & graph candlesticks
  • What the blockchain is and why it's revolutionary
  • How to understand the fundamentals of a cryptocurrency trading graph

and more!

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

Bitcoin's price since released:

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

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

Meet Your Teacher

Teacher Profile Image

Will Bartlett

Video Creator & Entrepreneur

Teacher

Connect with me:

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

About me:

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

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

See full profile

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Transcripts

1. How To Buy Cryptocurrency: Bitcoin Investing For Beginners PROMO: welcome to our Cryptocurrency investing course for beginners. My name is Will and I'm in all an entrepreneur, business owner and investor. Cryptocurrency is relatively new compared to traditional investments, and that's exactly why I love it. Most people have never heard of it or don't understand it, and that creates a fantastic investment opportunity. In this course, I will walk you through what Cryptocurrency is the various noteworthy digital currencies that currently exist. Why this has the potential of changing the world. And from there I'll walk you through how to convert real money into Cryptocurrency, using the top most trusted platforms found online how to transfer and trade various cryptocurrencies how to sell once you're ready and more finally will explore the two main strategies used when investing in crypto currency. Thanks for checking this course out, and I hope to see you in there 2. 01 Introduction: By definition, Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds operating independently of a central bank. By utilizing cryptography, Cryptocurrency transactions are verified and securely stored in a public digital ledger known as the Blockchain. Bitcoin became the first decentralized Cryptocurrency in 2009. Cryptocurrencies are known as coins, which are created through a process known as mining. Mining is a process of adding past transactions to the Blockchain. You can think of the Blockchain as a physical chain where each chain link is a transaction . The more transactions, the longer the chain and the stronger the chain becomes. Every single Bitcoin transaction that has ever happened is recorded on the Blockchain. So what makes this so unique wire developers and investors talking so highly of the Blockchain? The main reason is it's completely decentralized, so there's no government that controls it. No company or person. It is all completely open source code that was released to the public in 2009. As time went on, more and more people started to realize the potential of a decentralized currency and begin to either work on the mining side by helping to grow the Blockchain while being rewarded with Bitcoins for for their work or by investing, which means converting feed money such as US dollars into Bitcoin. Since every person involved has a copy of the Blockchain with every transaction, the result is an extremely secure network that has never been hacked and is constantly getting more secure with every new person who uses the network. Bitcoin was just the beginning, though. Since then, hundreds upon hundreds of cryptocurrencies have been created for dozens of different applications outside of currencies, for example, large banks around the world have started to hire Blockchain experts to implement the secure system to safely store information. Hundreds of new startups in the tech and medical industries are building their businesses based on the Blockchain to revolutionize the way the world operates. It started with currency, but there's so much more that can be done. Ethereum, for example, is another open source code based off the Blockchain. It's a decentralized software platform that enables smart contracts, which is a contract between two parties that can be facilitated, verified and negotiated without 1/3 party eliminating the need for lawyers. Ethereum also enables distributed applications that allows for no downtime, fraud, control or interference from 1/3 party. As time goes on, the block train will revolutionize currency information, storage and distribution applications and platforms. I've spent hundreds of hours researching the Blockchain and Cryptocurrency as a whole, and I'm confident that it's here to stay and will only become more popular, which means for early adopters and investors a giant opportunity for the potential of incredible investment gains. I know all of this may be overwhelming if you're hearing for the first time, but the point of this course is to introduce you to Cryptocurrency and provide a starting point to get your foot in the door. We'll cover how to convert regular money into Bitcoin and other cryptocurrencies. How to buy, sell and understand the market graph fundamentals, as well as a complete overview of cryptocurrencies by introducing you to the two main strategies of investing. So thanks again for enrolling. Feel free to replay parts is needed, and let's get started 3. 02 Getting Started: all right. So now that you have an understanding of what Cryptocurrencies are, let's dive in a little further right now. I'm on the website called bit rex dot com, and this is a really great trading website. So if you go over here to the Bitcoin markets, you'll notice that there are a whole bunch of different rose, and this is very similar to what you'd seen a stock market. So the first thing to understand is, when you're working with cryptocurrencies, depending on if you decide to trade or you're just buying into it, a lot of the websites will resemble the traditional stock market. Look over here, you can see has currencies. It has the market, which means you have BTC to a certain other type of Cryptocurrency, and there's just so many you can see. There's many, many different pages. Here you have the volume of how popular it is right now. The 24 hour high price, the 24 hour low price, the spread and the date the Cryptocurrency was added further down. You have another marketplace. This one's based off the ethereum Cryptocurrency, and then down here you have ah third marketplace that is based off the U. S. D dollar. So this stuff is a little more complicated at this stage for you to understand. So we'll just stick to the ah Bitcoin market right now. So Bitcoin is the most popular Cryptocurrency you've most likely heard of it. It is the one that kind of started it all back and I believe 2008 or 2009 when it was worth , you know, a few pennies. And now, as of today, Bitcoin is worth $4319 per Bitcoin, which is unbelievable. That is a huge jump. And there was a study done recently by some Harvard students where they noticed a pattern where Bitcoin tends to follow the Moore's Law and basically Bitcoin has doubled in price every eight months since it was created. If it continues that trend, which it seems like it's going to do because of how much backing it has lately, we could see this going up by many multiples in just a few years. So let's go back to bed Rex here. This market is entirely based on Bitcoin, which is the most popular crypto currency, and Bitcoin is also based off the block chain technology, so every single transaction is stored in the Blockchain and distributed to all its users, which allows it to become extremely secure. 4. 03 Introduction to the Cryptocurrency Marketplace: Okay, so let's go down here to Korean Market Cap. We can have a look at Bitcoin since it started, and this is the entire all so way back here. When they listed it, it was worth $135. This was a few years after it was actually created. And then you can see here. In 2014 it was worth $1000 and then it dropped way down to 237. And then around December 2016 it was worth $790. And then you can see it skyrockets, dip, skyrockets, etcetera. There's a dip here and then it goes all the way up. And right now we're at, I would say, a peak where I think it will cool off just a bit. And then it will just keep rising. As you can see these patterns, it kind of repeats itself. All right, so let's go up here for a second. You'll notice that the market capsized currently is $71 billion and that there are 16,500,000 Bitcoins out in existence. Right now, the total amount that can ever be created is 21 million, and that is based off the person who created it, who is actually anonymous, said Toshi Nakamoto. And you can look into him if you'd like. But basically he is unknown. He's anonymous and he released his source code into a forum, and then developers started to work on the code and realized that there was something really cool that was created. This decentralized way of sending transactions without 1/3 party and it took a few years before became somewhat popular, and then it eventually exploded earlier in 2017. And you know, the sky's the limit with this, but it's rumored that he is the creator, but it's actually not known. So to get Bitcoins, you can either purchase them or you can mine them. Now there are websites that you can invest in that will mind for you, but you don't really get that great returns. In my opinion, just buying and holding or learning to trade is the best way to ah get returns. And compared to the stock market, cryptocurrencies are extremely volatile, which means they go up and down quite frequently and they don't just change a few percentage, they go up you know, 40% 120% 1000%. Then they drop, so you could make a lot of money. You can lose a lot of money. Definitely. Do not put any money into this unless you're willing to lose it. You know, if you need the money you're investing, don't invest. It decided not to. Because again, cryptocurrencies are extremely volatile. They could change overnight, and you could lose all your money. But as it is now, it seems like the world is slowly adopting it. And still, to this day, there's only a small fraction of the world that currently invested in Cryptocurrencies. The majority of people invest in Bitcoin because that's what they know, Then the thousands of other alternative cryptocurrencies are what's known as Altoids. Those ones are just explored a little bit by the investors. So as time passes and their arm or Bitcoins mind, it's anticipated that it will take another 100 years or so before all of them are our mind . Because every single new Bitcoin that has created becomes a little more challenging than the last, and that's based off a computer problem that it needs the self. So there's an algorithm a certain code, a problem that a computer needs to solve through processing power. And once it's solved, you earn a Bitcoin for solving the problem. And that's basically what the system has created right now. There have been 16 million that have been created or mind, and then a total of 21 million can be created. Once we get closer, let's say around 18 or 19 million, they're going to start becoming extremely difficult. And based on the growth rate of technology, the processing power probably won't be great enough to, ah, keep up with the exponential growth rate of how hard each new Bitcoin is to, ah, create their mind. So what that means is it's going to take a very, very long time to, ah, get the 21 million. Unless there's a gigantic change in technology and the processing power goes to the moon, it explodes. In that case, they would be able to solve Bitcoins a lot faster, but realistically, I don't think that's gonna happen. It's going to take, you know, between 1500 years to get there, and because of the limited supply that's gonna be driving the price up, and that's very important, understand, because a lot of other cryptocurrencies they have a limit in the hundreds of millions, some in the billions. I believe someone even in the trillions, which means the price will never get that high because there's just too many to make each one worth a high amount. And to further that, there are a few that are actually limitless. They taken just continuously, be mind, and you'll never see those ones probably passed even $50 or $100. So that doesn't mean there are bad investments. But it's just something to keep in mind that because of the limited supply of Bitcoin and how long it's gonna take to get there, this price will most likely skyrocket. And most people don't understand that. You know, you're you're already way ahead of 99.9% of the world by just understanding that. And it's predicted that, you know Bitcoin could be between 1,500,000 by 2021. Now, again, we are not giving investment advice. We're not telling you that this will absolutely go to 50,000, 100,000. We're simply providing you information on how to get into this trading and how to do it. But your money is your money, and what you decide to do with it is up to you on Lee Invest money you're willing to lose and talk to a financial advisor. They will give you advice. They will tell you where to put your money safely. This is high risk, high reward kind of thing, and based on the past, it can be predicted that the future will also provide high returns. But again, it's nothing's in stone, I believe. Recently, Bitcoin actually surpassed the company pay pal in market cap, which is pretty crazy. 5. 04 Ethereum Cryptocurrency: All right. Welcome back in this video, we'll talk about the second part of the Cryptocurrency, which is called Ethereum. You may have heard of this. A Z in 2017 received quite a bit of, ah popularity in people investing in and just in general talking about it. You can see down here that at some point it was worth less than a dollar. And then way over here we're at around $300 now. So this has had a huge, huge increase in value, especially in 2017. I believe it went up over 3000%. So the short form ticker I d. For theory, miss e th Bitcoins btc and you see over here that there is no limit. It just says circulating supply. And what that means is, right now there have been 94 million e th put out into the world or mind so those have been created, and that will that will increase as time goes on. So if you remember, we talked about in the last video about Bitcoin, Bitcoin had a limited supply of 21 million Bitcoins that could ever be created or mind. Ethereum can actually have an unlimited supply. The current market cap of Ethereum is $28 billion that is roughly worth 6.5 million Bitcoins, based on Bitcoin being worth at this time roughly 4300 US. And in the past 24 hours you can see that there has been a volume of 962 $1,000,000 circulating in Ethereum, which is pretty incredible, and 28 billion may seem like a lot a lot of money. But if you compare that to Apple, for example, Apple's market cap is 800 billion. I mean, it's got quite a while to go fast forward 10 15 20 years, maybe even five years, and you'll see that all of the major cryptocurrencies maybe the top five or 10 will all be replacing all of the big big brands right now, like Apple, Amazon and so on. So Bitcoin and Ethereum currently do have a couple of issues, for example, Bitcoin. It has some scaling issues with how many transactions it can have per second. Why PayPal was so successful is because it can do thousands a second, I believe, whereas ah Bitcoin is limited to I think only seven or eight a second. Rena which is not high at all to the world's demand. No, by any stretch In August 1st 2017 there was a split where Bitcoin was split into two coins that was Bitcoin and then Bitcoin cash. And this was based on some people disagreeing who were mining Bitcoin. They wanted to increase the transaction amount for a second and some other people disagree with it. So they voted on it and remember this all open source. So it needs the go through that this kind of voting structure. So what happened was 90% of the voters wanted to push through with the regular Bitcoin. But there were some who wanted Bitcoin cash. So in that type of world, the majority one Bitcoin remained and then Bitcoin cash was also created. And not to get too technical of that, because this this course is more about how to start investing in it as opposed to what the Blockchain is all about. So with Bitcoin, it does have an issue with how many transactions it can have and these will be worked out in the future, you know, in a year or two from now, Bitcoin will not have any transactional issues, and Ethereum has another issue with proof of stake. And you can look more into that if you'd like. As again, this course doesn't cover the technical side of the block chain. But that is something they're trying to fix, and they will work that in the future as well. Also, if you want to learn a little more, definitely just watch them videos on YouTube, for example, about Ethereum, the creator of it was actually the person who invented Bit Torrent, which was a program that was very, very successful in its early days. But people don't really use it as much anymore because of pirating issues and people you know, the governments cracking down on that. But basically, BitTorrent is a way to send information to another person like client declined with without 1/3 party, which is obviously very related to the Blockchain and the whole decentralized Cryptocurrency. So that was kind of a natural transition to the founder of Ethereum, and you can look more into the founder if you want. Just check out some Google videos. His name's ah, metallic blue Terran and definitely look into him. He's a young guy. I'm convinced he's a genius. I mean this. This guy knows his stuff and he's doing some big things in the world right now with Blockchain smart contracts and Ethereum, so check that out. 6. 05 Intro To Alt Coins: All right, let's go back to bit Rex here for a second. Let's talk a bit about some other ones. Okay? So let's organize this by the last price, you can see right now that red coin, which is known as our D D, is only worth zero 0.0 to 9 of a Bitcoin because this is in the Bitcoin market. So everything is compared to the Bitcoin price. So if you have Bitcoin, you'd go to this market. And then you can use your Bitcoin to buy any of these Alta coins So you can see here. This is 29 in the last 24 hours has gone up to 38. It had a low of 27. Let's discuss a few. So let's go to the last price. The very top and you'll see based on the price compared to Bitcoin, that bite ball is on top here. It's serums in second place with a value of 0.68 Bitcoin Bitcoin cash is what I explained earlier. This is the ah On August 1st 2017 it was split and the second corn that was created was Bitcoin cash. So it's actually called B C H. Because BCC is taken up by another altering called bit connect coin. I'm assuming in the future that will change this. So don't get confused by that. All the other platforms are using BCH already, but for some reason, But Rex is not and Dash is very popular. You hear a lot of people talk about that. Z cashes up there, see what else we got here. Manero is very popular. Neo is getting a lot of popularity right now. You can see the volume is just We search by a volume here neos way on top. Some of these have really funny ticker names like you know, OMG here, Light coin is a very popular one. Light coin is an exact a copy of the code that makes up Bitcoin and the developers just went a step further and increased some of the transaction speeds, I believe, and some other things to make it kind of a better Cryptocurrency. But since Bitcoin was the original, it has all the attraction, all the people funding it, putting money into a trading with it, and it's kind of become the standard and once you get to the top. It's really hard for other people to catch up with you. This one's worth of this time around $50 compared to $4300 that Bitcoin is worth. So yeah, very small in comparison, but still notable. We go to the second page here, you'll see there's some other ones here. Stratos is popular. If you up to the here, there's a theory, Um, classic. So just like Bitcoin had the split in a created Bitcoin cash. Ethereum also went through that. And sometimes people disagree. So they split. And in this case as well, if the room split so it became Ethereum and then another one called Ethereum Classic. Most people want within theory. Um, but there were some people that still were working on the theory in classic Cryptocurrency , and that's why it still had some volume. It's doing all right, but not anything like Ethereum. All right, so let's go back to the first year and now we'll base it back on volume here so you can see here. This has a volume of one now that to me, would not be a great Cryptocurrency to invest in although that might change because this is solar better. If you look into this, their technology is based off of, you know, something to do with the solar industry, and that's what pretty much all of these types of currencies are. Some of them aren't even actually created as a currency. Ethereum isn't really a currency. It's made for a different reason. It was created for a different reason. Maura, about transferring information like smart contracts, whereas Bitcoin was created specifically to be a currency. So a lot of these are meant to take on other industries. So for this one, I was most likely solar. There's one called Steam and steam dollars, and those are for, ah, social media platform, where the users, the people who spend the most time and contribute the most to it they get paid instead of the company. Because again cryptocurrencies air all decentralized, nobody controls that there's no one in it for profit. There's not a company that at the end of the year, they need to pay out their profit to shareholders, for example, that doesn't happen in Cryptocurrency because there is no company, there is no government, and that allows it to be a lot more secure because you don't have greed influencing it 7. 06 Intro To Different Markets: all right, now that we know what Bitcoin is and we know what some of the other alter coins are such as Ethereum, We go back to bed, Rex here and go to Ethereum Market. So this market, as you can probably guess, is based off a theory. It's all e th to whichever Ulta going. So in this market do you don't trade to Bitcoin You come to it with ethereum and then you can trade Ethereum with the other coins And the reason they did that is because if the room is the second largest Cryptocurrency so there's a Bitcoin market in a new theory market and then down here is the U S D. T t stands for tether. This is a digital representation of what the U. S dollar represents. So this the US DT always follows the U. S. Dollar. So in this marketplace, you can trade your U S D t to Bitcoin. You can trade it to neo ethereum Bitcoin cash just like the other ones. So if you go up here in the big corn market, you can't get us d t here doesn't exist in the theory market. It's the same thing. So in order to get us DT, you would have to click on here, for example, Bitcoin. And then once you're logged in, haven't count. All the stuff will open up where you can buy and sell your US DT or your Bitcoin to us. DT. All right, so let's go back here, all right? And I hope that provides you a little bit of an understanding of the different markets will explore a little bit more in the and later in the scores about how to actually buy and sell and also how to turn actual Canadian or American dollars, you know, Fiat money into Cryptocurrency. 8. 07 Cryptocurrency as an Investment: in this lesson. I want to specifically talk about the potential in Cryptocurrencies, but I also want to show the downside. As I said in the past, Cryptocurrencies are extremely, extremely volatile. So if we go up here and click this twice, this will bring up to the very top the altar Korean That has changed the most. In the last 24 hours, this one Monaco M CEO has changed 156%. So if you invested in this 24 hours ago, you would have gains of 156% in just 24 hours. That is crazy. Okay, but on the other hand, the worst that has happened is minus 20. Sometimes you'll see this just like this number, but negative. So it is entirely possible that as much as it goes up, it could go down twice as much. That's extremely important to understand. This is all based on the amount of money or alter coins they get pumped in to the market so soon into the stock market. If a bunch of people sell well, the price is gonna go down. If a bunch of people by the price is gonna go up in order to do this successfully, you need to kind of train yourself to notice trends. So, for example, let's go to a R k here. And if you were to invest right here when it had three declines in a row, that's probably not going to go the other direction anytime soon. This is a very clear indication that the trend is going down and just, like, just like here, for example, if you bought in right here, that would probably be, Ah, good idea, because this is on its way up. You can see here that the trend is going up now We'll cover what these are these Ah, red and green. What's called candles. We'll get more into that in the future. But for now, I just want you to understand that cryptocurrencies can change quite a lot. People don't understand how powerful cryptocurrencies can be for your financial future, how much of an influence they can have. But on the other side, they can completely wipe out what you're investing. So you need to understand this is a high risk, high reward type of investment. But if you do the research, you invest in the right coins or you simply just by Bitcoin and forget about all the other old coins. Chances are you're gonna walk away in a few years with really, really, really great returns. That's something. That's something that a lot of people are guaranteeing. I'm not gonna go that far yet, but, you know, I'm definitely holding Bitcoin myself. I also I'm doing a bit of trading not too much, you know, I have several $1000 invested originally, and that has multiplied just in the last few months. Obviously, I'm really happy about that. And a lot of people have received the exact same type of returns on their the money they had in it. So really great opportunity right now that I see and again do your own research, though, it's not financial advice. You're in charge of your future. You're in charge your money. You know it's up to you. At the end of the day, 9. 08 Strategy 1 Buy and Hold: All right, welcome back. And in this video, we're gonna talk about the first strategy for investing Cryptocurrency. And that is buying and holding. And that means simply buying Cryptocurrency selling it down the road once it's worth many more multiples. Okay, well, what does that mean? Should we should be by all of them? Should be by just a few. Should have just buy Bitcoin. Well, that really depends on your risk Tolerance as an investor, you know, for some people, they just by the top five and then they never signed it again for like two years. And then they signed in at that point cell, and that's kind of it. My strategy is I'm just gonna buy Bitcoin, hold onto it and cash out in a few years. For a lot of people, that's what they're doing for other people. They're looking for the big winners just like Bitcoin was a few years ago. They're looking for the big spikes. So whether that's Ripple or our car light coin, who knows? The majority of these will increase in value over time. It's just about finding out which one will expand, you know, 144% consistently, and no one really knows that. It's all based on the market. The market changes every day. New money comes in, new people find out, new technology is introduced, technology changes, governments put new regulations and so on. It really depends on a lot of external factors. And there are so many things that influence the market. You just can't 100% for sure choose one. And no, it's gonna it's gonna win. So for some people, the strategy of buying holding is to just dump all their money into, you know, 10 different cryptocurrencies, 10 different old coins and they just wait for one of those to jump 2000% or more. In a theory X case, it went up past 3000% in in under a year, which is incredible in just insane. So with that being said, there are some indicators like we talked about in an earlier video. OMG is performing well. Neo has a lot of traction. Basically, if a lot of people are talking about it like, for example, all the social media influences on the world, if they start talking about a certain coin, go with it because that means they're gonna influence a lot of people to put money into the market. And like we said before, the more money is put in, the more that market goes up and that's just the way it is. I mean, that's that's math and psychology. If a certain person is convincing a bunch of people to invest in something, well, that means it's gonna go up naturally. You know, there's more people in it. There's, ah, higher volume and, you know, in this 24 hour period is down 9%. But if you look at the graph, let's change it toe. One day you can see that it's actually way up there, you know, over time, its way up. Even though it's down 9% now, it's still a big win for anyone who bought it. And here, here or even, you know, his highs here. This is what you're looking for. Your trying to buy in here and you're trying to sell here. Always buy low, sell high. That's the name of the game. That's the way it's done. That's in the stock market. That's in any type of investing, really. You want to buy low sell life it's real estate. Same thing you want to buy a property really low and you want to flip it around, renovated. Sell it for high. So Cryptocurrency works no different. Try to find where it is if it's on the up trend, you know, try to get in before, let's say here and then it will cool off. Kind of stabilized a bit. You know, Time will tell this skyrocketed Stabilized is gonna skyrocket again. So based on this, we can predict that chances are it'll stabilize and it will go up again and again. That could not happen it, although, I mean somebody online could talk about this being the next big thing neo being the next big thing, which actually is what's happening right now. And that's why this recent surge happened. And people believe in the neo crypto currency and the developers that are working on it. You know, people trusted people are putting money into it. They're trading their Bitcoins for it and holding on to neo for the long run. And, you know, for people who bought in here or here definitely paid off. All right, well, let's go back to the last price and organized by the lowest, so this is a tiny fraction. But let's click this. This was just too one day and you'll see what happened here from the very beginning. It would just had nothing for the whole time. And then it skyrocketed all the way up to 1 30 at the very end. There from four. So four all the way up to, you know, 1 30 then now it's around 30 right now and you can see here That's not even ranking as one cent. So I mean, this is extremely cheap. Will it go up again? I don't know. Since it wasn kind of a constant, slight growth, it was just actually declining. And then it had a little bit of, ah, surgeon that it declined again than a huge spike, and it dropped almost entirely to here. I'm not convinced, totally that this is gonna go all the way back up again and continue from there. So in conclusion of the buying hold strategy, the idea is to buy it for a certain price and then sell it for a higher price way down the road and make a really great profit on that. That's the idea of super simple, your not doing daily trading or anything, which is the next strategy. Buying holding is just the simplest way you can get in and start to invest in Cryptocurrencies if you don't have a lot of time on your hands, or you just want to use it as a long term investment. And you're not looking to capitalize on every single prophet that every single Cryptocurrency can offer than the best strategy for usages, buy and hold. And for the most part, that's what I'm doing. The bulk of my investments in the Cryptocurrency markets are with Bitcoin. I believe that Bitcoin is just going to keep going up. I mean, there's gonna be dips here and there, But again, I'm in this for the long run. I really believe in Cryptocurrencies. I believe in the decentralized Blockchain. There's no third party, and that, to me, seems like a much better world. As of now, Bitcoin is the big leader. You don't have anything that's even close to it. I'm just holding this for long run. I'll probably hold my Bitcoin for at least five years, most likely 10 maybe even 15 years, Um, at certain points. I'll probably sell off a little bit of it. Every payroll that comes by with my business. I just take a certain percentage and I converted into Bitcoin and I take a percentage of the Bitcoin that I have, Let's say 10% and then the 10% is what I used to buy the other cryptocurrencies the old coins. So that's kind of my strategy right now. Holding for the long run, 90% of it is in Bitcoin. Just holding 10% of my cryptocurrencies are for experimental investments where I try to find some of these ones that will, you know, go to the moon overnight like these 5000% increases. And that's based on just a bunch of articles I read online and trends I see in the graphs day to day and what people are talking about. I pay attention to some influencers who have hundreds of thousands of followers or millions of followers because people will follow them. It's not about even if they know really what they're talking about. Its people are gonna follow what they say because they are influences their social media influencers. They say something people do it. If a lot of people are talking about something, chances are if you can get in early, it'll be a great investment. And I heard a way of explaining Bitcoin could go to the other Cryptocurrencies a little while ago, and I really liked it. So they said, Bitcoin is the ocean. It's the Thai that goes up and down every day, and the other cryptocurrencies are the boats on the tide. They're very small. They don't take up much space at all. But when the tide goes up and down, the boats follow. Because there, you know there on the ocean. So they rise when the tide goes up in the lower in the tide goes Sam, and that's a really great way to think about the market as a whole. So because Bitcoin is so large and volume compared to the other ones, and it just has so much support compared to the other cryptocurrencies, it kind of controls the market. And so when it goes up, the others tend to go up. When it goes down, the others tend to go down, and it's not foolproof. It doesn't always happen like that, and there are some exceptions, but more so. Keep that in mind again six months from now. That may not be the case for, you know, for example. Like Coin, as I said before, is a duplicate of the code in Bitcoin, just with some changes in a different developing team. So who knows? In a year or two, this could be way up there now. I don't think it will get there based on the volume it has in the amount of, ah, like coins. That can be mind and just the general fact that Bitcoins so far ahead. But you never know. And that's that's the interesting and fun part about Cryptocurrencies. It's an exciting thing to invest in, and it's it's never a dull moment. 10. 09 Cryptocurrency and Taxes: So most people think that in a few years everyone in the world will will ah, accept Bitcoin. I mean, there are a few places that don't allow it right now. I believe Hawaii in the States doesn't allow Bitcoin. Um, I think Russia also is the same thing it right now. But I do know that places like Australia, India, places in Europe, Canada and most of place in the US are actually supporting Bitcoin at a small level right now. And as becomes more popular by the general public, they're going to be implementing new ways to track it for tax purposes. Treat cryptocurrencies just like any other investment you do when you get a capital gain, meaning you get a profit out of the investment you put into it or you get a loss. You need to claim the prophet or claim the loss. They really, really strongly obviously care about if you're not claiming your capital gains. So this is super important. There are for sure a lot of people that do not understand this and think it since it's decentralized, they don't need to do anything. But that's not the case in Canada. There's something called the C R. A, which is the Canada Revenue Agency, and the way they're handling it is just like any other investment. So you're gonna put money into something Bitcoin and then a year later, you're gonna pull your money out. If it's worth more the profit on your initial investment, that's what you're gonna be paying tax on. That's considered your capital gains, and you're gonna be claiming that they want you to claim it. They've set up some information on their website to teach you how to claim it. It's gonna be considered self employment income so very similar, as if you own your own business. That's essentially what it is. I mean, if you are flipping homes for a living that's considered self employment income. I mean, you're spending your time putting your money to work, renovating homes and what not? And it's a business. This is what's making you money, whether you're actively doing it or your money is doing it for the long run, it's still considered a business income, so claim it do the right thing. Please don't go against that, because if you believe in Cryptocurrencies and you're not claiming your capital, gains. When you pull your money out, that's when the problems are gonna happen. And that's when the governments are going to start regulating things because the people are doing it themselves. And that's what we do not want. We do not want a way of living in the future where we have this incredible new way of doing transactions with the world instantaneously to anyone. And it's all the same type of currency. We don't want to have all of this happening and all of a sudden the government steps in in each country and starts changing the rules and how they regulate everything. And at that point, it's just the same old system that we've traditionally used for hundreds of years, and that's what we don't want. So if you believe in cryptocurrencies, track everything you do and claim everything you do and pay the proper capital gains or claim your losses and treated just like any other investment, just like if you're in the stock market, you to do the same thing, so treated like that and this will be around for a long run and it'll be great for everybody 11. 10 Strategy 2 Trading: All right, Welcome back in this video, we're gonna talk about the second strategy, which is day trading. We touched a bit on it in the last few videos regarding buying good coin than selling it to the different ones. To get the other ones, you can sell it to Ethereum, for example. And then from there you don't ethereum. And then you can use the ethereum market to trade ethereum for any of the other ones. And you'll notice that the majority of these, I believe if not all, are also in the Bitcoin markets. So you can do that. Or you could take your Bitcoin all the way to here and treated for us d tether, which is, as I said before, just the exact same thing is the U. S. Dollar just the digital version. It's like a digital coin of it, and that is meant to follow the USD dollar. And that can also be a great way. Teoh buy and sell Bitcoin alone because the U. S dollar tends to kind of stay the same over time. It doesn't really change too much. Maybe up 5% down 5% whereas Bitcoin can go up hundreds of percent, like just like any other Cryptocurrency, if not more over time. That might be a great strategy where at a high point sell to us DT, which is still a Cryptocurrency. So you're not actually cashing out so you wouldn't have to claim it at that time. And then at the low point, when Bitcoin you think is at the lowest point and it's about to go back up, you can trade it back now. In that time, you know, if there's a stock market crash, for example, this follows the U. S. Dollar, so I mean, the U. S dollar would obviously go down in a stock crash. So again, it's a high risk of type of thing, So that might be a good strategy as well again, that's more along the buying hold. You're not really training it back and forth to different stuff all the time, So let's talk more about the second strategy, which is trading now. Trading is basically you buy Bitcoin. You traded to neo at that time you have neo at a certain price. Let's say it goes up by 30% or 15% or 6% whichever it is at that point you decide to sell because you have a small profit. Now you own back Bitcoin again. Every time you sell, it'll go back to Bitcoin in this marketplace. And then from there you look for a different coin that maybe is down. So this one's down our kids down. At 17% you can see the last price is 3400 which is pretty much as low as it went in the last 24 hours. So this might be a great time to buy, because in the last 25 has gone up his highest 4500. We're going to hear you can see that there's three red ones. As I said before, if there's a you know, Siris of Red Ones probably don't buy at that stage, it might make sense to just wait a little bit until you see one of the greens pop up, and that is an indication that it might be on the rise. And then when that happens, just ride it all the way up and sell. So that's the idea. Essentially, that day trading. It's exactly like buying and holding. Only you're doing it every single day and you're flipping your coins constantly, from Bitcoin to a different Cryptocurrency back to Bitcoin, back to a different one constantly, if not simultaneously all day long. And a lot of people do. This actually is a full time living. It takes a lot of skill out of time. And it's, in my opinion, a very unique, special skill to be able to identify the market before anyone else can. Because, you know, there are hundreds of thousands, if not millions of people online right now, trading all of these cryptocurrencies and they're trying to find the next big thing, so most of them will lose money. And that's why it's kind of a great thing for the people who understand the market a little better and can do that. But again, if you're new to this day, training is probably not the way you want to go. Don't try to beat the market. If you're new to this. It takes a lot of time to understand how the market works on the graphs. Look who is backing the you know, the developers. You know there's a lot of things that influence all these old coins and the way they change , right? And then that's kind of the thing. Take it upon yourself to do some research. And, yeah, we'll explore day trading a little more in a future video. 12. 11 Overview of Hard and Offline Wallets: You can also store cryptocurrencies in hardware wallets, where you actually store the private keys of your Cryptocurrency specifically like, let's say Bitcoin. And so if you had a treasure dot io, sometimes they're sold down and takes a while to get one. But these air great, I really recommend them. There's a few other ones as well. Basically, the point of this is if you have a substantial amount of, let's say Bitcoin and you're holding it for the long run for 10 years, you probably don't want to trust it by putting it on an exchange like Bit Rex or some of the other big ones like Polonia X, for example, because they store your private keys on their platform. And what that means is you have private keys and private keys are essentially the ah secure code of numbers and letters that allows you to own a certain amount of Bitcoin. So if somebody gets access to that, they can take your Bitcoin, and that's the human element to this perfect Blockchain decentralized system that can't be hacked. I mean, as long as a human element, errors can happen and things can be stolen. But in Bitcoins history since it's been released, it hasn't been hacked once, but there have been multiple cases where people have actually lost their private keys. And then they, you know, lost the Bitcoins because the private keys give you access to the Bitcoins you own. And again, Bitcoin itself has never been hacked. It's extremely secure. So what I would recommend is, if you're day trading, then you know you have to have your money on exchanges. But that's OK because you're converting so often. And my recommendation in that case is as you get profits, pull them out and store them offline on a hardware wallet, for example. Or you can even actually do a paper wallet, which is possible. And essentially, if you just type in how to paper wallet Bitcoin, they'll walk you through how to do that. And there's it's actually really easy to do. Essentially, you're just writing down the actual private keys on paper and locking them up somewhere in your house in a fire safe case, and then when you want to cash out in your Bitcoin, you just find the piece of paper type in your private keys and then transfer your money back into the system and then convert your Bitcoins Teoh Fiat money. Or at that point in the future, assuming Bitcoin has continued to grow, just use Bitcoin itself to buy things. So private keys are what allows you to own the Bitcoin. You're given private keys, whereas exchanges hold them. Doesn't really make sense to have a hardware wallet if you're trading unless you're getting some good gains and you wanna transfer them and store them safely. But if you're buying holding for the long run, definitely recommend getting ah, treasure or some other type of ah Harbor wallet and you'll be able to take your private keys, transfer them to your wallet and then you know they're offline. They're not in any exchange, and that means you own them when you're ready to sell, just connect. Your treasure is just a USB device, basically, that has its own security systems to with its own pin code. From there, you can just transfer back in and then sell your Bitcoins, so that is a really great way to ah, make sure your Bitcoins are safe 13. 12 How to buy Bitcoin Part 1: All right. Welcome back to this course. If you haven't left to review already, please do that. It just takes about 10 seconds. And ah, we really want to make sure this is a five star experience course for you. So, you know, get all the value can from this. Ask those questions and we'll try to answer them as best we can. And also besides that, providing a rating, it helps new people discover the course for this course. Specifically, it'll help bring new people into the Cryptocurrency market, which is on Lee a good thing. Everyone will benefit from that. Also, leaving reviews helps grow the community in, you know me. So that's also a plus. All right, so let's go back to the videos here in this one. We're talking about buying and selling, so let's dive in. In order to change actual dollars into a Cryptocurrency that you can trade or hold for the long run, you need to use a brokerage, and they profit by the transactional fees. Just like in the stock market. The Cryptocurrency brokerages that convert feed money to Cryptocurrency, they take a fee for doing the transactions of actually converting the dollars to Cryptocurrency and also from sending it out of the platforms website itself. So there are a few different companies you can use in the future. I'm sure in six months there's gonna be another 50. But for now there are a couple large ones. The biggest one is coined based. They're based out of the United States. There are multi $1,000,000,000 company. These guys were gigantic, and, you know, of course, they make all their money through fees. It's not outrageous, but it is expensive. There's another place called Coin Square, which is, in my opinion, a better alternative than coin base. Because coin base, once you set up your account, it takes a while to verify it. Then you can only body with a credit card, and that's one thing that's kind of weird, but the same time it might be OK. But it's not always the best to put in investments with loans off a credit card because you're paying, you know, the high interest rates and credit cards and yada yada yada. It's better to invest directly with cash you actually have and cast. You're not willing to lose because again investing with a credit card is just not smart. In any case, Coinbase is one of the options. We can explore that now to go to coin base dot com This is here. So if you want you go to sign up, you're putting your first name last name email. Choose a password confirming that a robot create an account. You can see 9.4 million users or right now, so a lot of people use it. Cryptocurrencies are stored in a digital wallet online. It's gonna take a little bit for you to set up your account, but it does seem daunting at first cause you're gonna have to upload some documents like passport and whatnot and like, ah, banking statement. So what I just used was a credit card statement. Um, I uploaded my passport, and there also are a couple of websites that when you register, you'll need to take a photo of yourself. So it's just like a selfie, and you just hold up like a piece of paper and write down your account number. And though they'll direct you through all this stuff, but I just want to give you a heads up, this is totally normal. But in this case, that's what you gotta do. So once you have your account created, you won't have a limit. This high most likely will be around $125. I believe it will take a little longer to get higher. You have to wait something like 30 days, and that's just a precaution on their end. So once you have an account created, you'll have the dashboard by cell accounts and all this stuff you'll see here under the buying cell, there's the by tab in the cell tab. You have your payment method. I have mine blurred out right now because I have a credit card in there and you can see right now that I have this set up to Canadian dollars. If you go to settings, you can change it over to U. S. D if you want. So this is currently where Bitcoin is currently worth $5539. You have a theory, Um, and you have light coin. These are the three that coin based cells in the future. I'm sure the light others in the new year they're gonna be adding Bitcoin cash as well. So The idea here is, um if you do want to pay with your credit card, you can put it in here and then you enter the amount you want to buy. Let's say for me $1000 max. So I put in $1000. They'll tell me that that is worth 10000.17358471 BTC, which is Bitcoin and you can see it. Over here you are buying 0.1736 Bitcoin at a price of $5539 available instantly. Deposit to BTC wallet, and what that means is, when you buy this, you will then have it in your Bitcoin wallet. You can see here that they're charging a fee of $38 which is a lot of money, but again, it's very limited right now. So once you're in, you're in. So if you were to do, let's say $250 you can see the feed goes down to $10. I recommend only starting with, you know, a small amount, maybe even less than $100 because if you don't properly put in the right Bitcoin address to send your Bitcoin to It's a bit Rex. For example, if you do not put the right address, you will lose your Bitcoin. It will be recorded in the Blockchain forever that this transaction happened of $100 that it was sent to some address. And if you didn't enter the right address, you will lose that. You can't get refunds in this way unless you sent it to somebody else and you found out who that person was, which is unlikely, and they decided to give it back to you. So So that's one thing to keep in mind. If you do put in the wrong address, you will lose your money. So until you get comfortable with making sure you're putting in the right address every time, start small, get some six successful changes and then go from there. And once you hit by here, it will come up with a confirm your transaction button and again it'll show you how much you're buying and the fee structure. And then you had confirmed What do you do that it will automatically get added to your account over here in the dashboard? And once that happens, then you successfully own some Bitcoin when it comes time to sell. That could be a little challenging for certain people, depending on where you are. For example, in Canada, coined based does not actually allow you to sell at this time. It says cells not supported. So in this case, selling it would mean converting it back to Canadian dollars or U. S. Dollars. If you want to send your actual Bitcoins somewhere else, such as bit Rex to do some crypto trading, then in that case, you would go to the Seine tab. So within the scent tab, we have recipient. This is where you enter the email or Bitcoin address for coin base. They allow the email on some other platforms. It's just the address. So for me, I've never used email. I just use the address and you get this address from the deposit section in your other accounts, such as your Bid rex account. There are no withdraw addresses, and that's kind of how it works. So you have a deposit address that you enter in on the platform you're sending from, and that deposit address is provided by the platform you're receiving. So if you wanted. You can see right now that in this account I have 0.13349 Bitcoin. I'm not even sure how much that is. It's a very small amount. Let's see what it is. So let's hit the max copied over open a new tab, paste it into Google type and BTC, which is Bitcoin to USD. And it'll tell you what that is. So this is 58 cents. So I had 58 cents in this account and that's left over for whatever reasons. I mean, it used to be 12 cents, but over time, because Bitcoin has kept going up and up over the last few months, it's actually gone up to about 58 cents. But for the sake of what we're doing, let's just say we had, you know, one Bitcoin in here at this stage, we would go to our other account like bid Rex and I will show you that in a bit. You get your deposit address and you put it right here, and then you just hit send, Then the confirmation will happen over a certain period of time. Typically between 10 minutes in an hour, sometimes a little longer, depending on how many transactions are trying to happen. And then once that's done, you will most likely get a confirmation in your email from coin base. That means it has gone through, and in a short period of time you'll have it in your other wallet. For example, in your Bitcoin bit Rex wallet, Corn based also has an app. I tend to use it just to quickly see the price of Bitcoin or a theory more like coin. I'm just concerned with, you know, Bitcoin mostly. So, yeah, they have, ah, cool app, and they seem to update it quite often. So that's essentially it for coin base. Let's go Teoh a different platform. 14. 13 How to buy Bitcoin Part 2: so another platform I use is coin square. This is similar to corn. Based on the fact that they are brokerage, they take fees for converting feet, traditional money, you know, Canadian and U. S. Dollars into Cryptocurrency. They've recently increased their fees. They're pretty similar to what coined based charges. They are Toronto, Canada based company. And therefore, as you probably guess, selling your Cryptocurrency back to Canadian dollars U. S. Dollars is a lot easier in this program. There are a few other ones, but I've had success with with coin square. You sign up, do the same kind of thing, go through credit user name, verify your candy, oft upload kind of similar stuff, your passport and bank statement and what Not once you have your account set up. And if you're in Canada, do a quick like $30 e transfer just to make sure it's working. Don't start off with a big amount that has the smallest feei believe. And from there it will be in your account and you're good to go. So once you've created account, it'll look like this. This is where you could do quick trades. You have the dollar amount that you've deposited You can change the currency here to Canadian Ah Euros. You know, Australian dollar Bitcoin, for example. So we can just keep it to USD. For now you can fund your account. You can see the major changes in the you know, dash BTC does coin LTC light which is like coin and then down here. If you click show, you can see the other markets where they sell other cryptocurrencies as well as silver coins, silver bars and you can see over here how it's changed in the past 24 hours. This is the change in the blustery for hours low, the high the current price in the currency you've set. So right now Bitcoin is 3 4086 become caches 302 So that's pretty cool. If you click each one, it'll open up the market and you'll see a similar graph to as what we saw in bit Rex. You can change it to you. No. One month, 316 months and so on. And that will happen tall, even the gold bars. All right, so you have your account. It's been verified and the way coin square works is. They want to also make sure that you're doing this legit. You are a real person, so they'll take some time to verify your documents. And also, once you transfer over your 30 bucks, it'll be put into your account. They'll take the fee, the remainder will be in your account. And then once that happens, your money will be locked in here for, I believe, seven days. So that means you can't withdraw it for seven days. In that time, you can still transfer and keep things in coin square, but you won't build a withdraw anything for seven days. So to fund your account, you can click here and going up to fund you can choose how you want to fund. So it's a C A D. You can choose how you want to fund. You can pick the different currency you wanna transfer in. So right now we have USD and you can choose a voucher, a money order bank draft wire transfer wire transfers, air obviously for very large amounts. So you do not want to start with just that if you're from the States. Bank drafts are always good. If you go to withdraw you'll see here that there's nothing to withdraw because I have nothing in the account. If you do have your $30 in the account or more and it has been seven days, then this will still show zero. After the seven days, this will pop up and you'll be able to withdraw the full amount. So keep that in mind. Your money isn't lost. It's just hasn't passed the seven day mark yet. All right, so let's change this over to BTC, which is Bitcoin, and you can see here fund your account or withdraw funds. Okay, so again, I have nothing in here, so I can't withdraw. But if I wanted to fund in my account with Bitcoin so if I wanted to fund this account with Bitcoin, I could go to get address. It will give me this unique address in this case because we're funding it. This is the platform that provides us with the deposit address. So since we're funding the account, we go to rehab our funds, we click on withdraw, and then in there we'd have to enter in the deposit address from the other platform, which in this case is Queen Square So we take this, we'd copy it. We go to the other platform, we put it in the withdraw eventually would show up here as a USD amount, or if you switch into BTC, would show you the BTC amount. It's also important to understand that the address we copied the Bitcoin deposit address that is not your private key. OK, that your private keys are completely different, and coin score actually pulled them for you, just like a lot of the other exchanges do. So when you transfer your Bitcoin out into your ah hardware private wallet. That's where you get access to your private keys. And that's when you're storing your private keys because you've transferred your Bitcoin out of Corn Square into your hardware wallet. And then you own your Bitcoin and private keys, as opposed to you keeping your Bitcoin in coin Square, where they obviously have your Bitcoins. And that means they have your private keys and not to confuse that you're address. Here is just your deposit address that is not your private key. All right, so once you do it, deposit into Corn Square, your holdings will show up here and you'll see a list of all the currencies you have available. Each currency, such as BTC or Ethereum. Those air considered their own wallets. There is a different wallet for every single currency, and this is the same for other exchanges, like Bit Rex or even the other brokerage Coinbase. And that's also very similar to traditional banking, where you have a USD account as well as a C A D account for Canadian dollars. So if you're Canadian, will have a few other options, which I like a lot. Um, interact. E transfer is extremely helpful and easy, and it takes about 24 hours to go through so you can do a minimum of 100 or max. 3000 transfers are direct from your Canadian bank account, and all the major banks in Canada offer this. So this is how I choose to fund my coin square account. This works great from there. I converted to Bitcoin and transfer Bitcoin out, and from there I transferred out to either, you know, bid Rex to do some trading, or I can even just transferred straight to my harbor wallet. Once you're ready to withdraw, they'll have fewer options. I believe a wire transfer is the way to go. This will work for us D as well as C 80. But again, you'd have to have a minimum of 10,000 to do that. And pure in this seriously for the long run, chances are you're at the end of it. You're gonna have an accumulation of more than 10,000. And if you have more than 300,000 that's fine. You can just do it in multiple sends. Just keep in mind. You need a minimum of 10,000 in order. Teoh, get a wire transfer. There's also another website called Bit Pay, which is a really cool way to, Ah, spend your Bitcoin. It's basically a wallet that stores your Bitcoin and a lot of places such as, Um Shopify, which is a giant e commerce store. Mike herself accepts it, and as time goes on, there's gonna be many, many more companies around the world that accept Bitcoin. And as you can see here, the big pay car lets you load dollars using any Bitcoin wallet. Zero fees get instant withdraws from Visa compatible A T. M's and spend with any visa merchant, so yeah, this is a really cool options. You're going to learn more, and then you can click on how it works and you'll see here you can order your card and pay the order fee. Once your idea has been verified, will ship your card to your home address. When your card arrives. The male. Activate the card loader card with dollars using any Bitcoin wallet or via direct deposit through your employer, which is also amazing. And then you can spend your dollars anywhere Visa debit cards are accepted or withdraw cash from any visa compatible TPM. That is just awesome. And I believe the visa teams do you have a fee? But this is a really cool option as well. And definitely check that out. If you are interested, that's ah did pay dot com. 15. 14 Account Enhanced Security: All right, welcome back. So in this section, we're gonna actually be trading cryptocurrencies. I'm gonna be doing with actual Bitcoin. I will teach you how to buy and sell. You have brokerages which convert money to Cryptocurrency. And then typically you'd send your Cryptocurrency from there into a trading exchange such as bit Rex or Polonia Hicks. And then once you have your Bitcoin into your trading exchange wallet from there, you can begin training Cryptocurrencies. I do want to point out, though, that once you've ah verified your entire account, you're logged in. You've uploaded all your different ideas and everything, and you've entered your phone number and you have the advanced verification done. That's awesome. Definitely recommend doing that. Once you do that, that allow you to withdraw large sums of Bitcoin. And without it, you'll only be able to withdraw like 0.25 a day or something very small. What's your verified? I recommend also enabling the two factor authentication. This is Ah, Google app. It's called Google Authenticator. All the large exchange accounts and brokerage accounts have two factor authentication, so definitely take advantage of it. How it works is you download an app on your phone called Google Authenticator. And then when you entered for the first time, they're gonna show you a Q R code. And that's just one of those black and white like square images. And you launch the APP, and then you just take a picture of it using the app. It's very, very easy to do, and then once that's done, you'll see a number that just keeps repeating. It's a six digit code that just keeps renewing every 30 seconds, I believe so once that happens, you will have it enabled automatically and then to confirm it. You just entering the code that you see on your phone, and then this adds an extra step. Teoh your authentication. But be warned, you absolutely need to back up your secret key. But when you enable it, they're gonna list Ah, code. I believe it's a 16 digit code. Write it down somewhere safe, because if you lose your phone or that happen gets deleted and you don't have that 16 digit code, you're going to not get access to your county where every time you log in, you're gonna need to enter your user name and password as well as this renewing 32nd 6 digit code called the authenticator code, it adds a lot of security to your account. But also, if you are gonna lose that number if you think you're gonna lose that number if you can't put it to a safe place, that it might not make sense to activate it. So on the other side, though, if you're dealing with huge amounts of Bitcoin and money, definitely add this as a two factor authentication. It's an extra step of security and just make sure you're backing up that code properly. 16. 15 Intro to Cryptocurrency Exchange Account: all right. So again, you're gonna upload your ideas and all that two bit Rex to enable your account there again , they're all kind of the same. In most cases, you can actually use the same picture. Sometimes I'll ask you to put in a unique code in the selfie image. Audio takes just a couple seconds to take a picture, and within 15 minutes you'll have an account activated. And that's the last time you need to do that. Alright, so I've sent over a couple $100 to my bit Rex wallet. What's clicking wallets here? You can see here that I have $200 in this account. Right now, you can see the estimated value of 0.45 Bitcoin and that equals about $200. You can see here there are many pages 28 pages of all the different cryptocurrencies. Right now, I only have Bitcoin that I'm holding $2 worth of Bitcoin. So in that case, I just need to do hides your bounces and then therefore just for organization, this will only show up right here is your withdraw. This is your deposit. So if I wanted to withdraw this Bitcoin amount out of this bid. Rex account, Let's say back to Coin Square. Then I'd hit this withdraw button. Then the confirmed Bitcoin withdrawal would pop up. I would enter the deposit address from my coin square account because remember, there are no withdraw addresses, so you need to go to the other account, get your deposit address, put it here, and then you can choose the entire amount of Bitcoin or however much you want to transfer out. For example, I could do you know it's 1/2 of that. Then you'll see that there's a fee of 0.1 And to find out how much that is again, we could just go toe 0.1 BTC to USD, and that equals $4.32. That's what that represents. And this is what you're going to be withdrawing after it removes the feet so you can see 0.0 to 4. And the quantity that you're doing is 0.0 to 5. So after the fee, you're left with 0.245 you click withdraw, and then from there you just wait a short period of time again. It could be anywhere from 10 minutes to an hour, sometimes a little longer, and then it will appear in your other account. And just like Coins Square. If you wanted to deposit into bid Rex, you click on the plus. It'll give you a deposit address and that deposit addresses when you will use on your other accounts, such as coined based coins Square. From there, that's where you enter in your deposit address from Bid Rex so that you can fund this account. I know it's a bit confusing at first, but that's basically how it works. So to deposit, you take the address from the account you want to fund, and then you put it in the other account. But if you want to withdraw from an account, you take the other accounts deposit address and place it in your withdraw section of the account. You have the money in blow your account balances. You will see pending withdrawals, impending deposits, withdrawal history, deposit history. In the pending withdrawals, you'll see the amount of Cryptocurrency that is set to withdraw to the account and the opposite. Pending deposits. You'll see the Cryptocurrency that's about to come into your account on the side. Here, you'll see confirmations, for example. Bitcoin sometimes takes up to three confirmations in rare cases. Six, you know, tell you what you're transferring out. And the currency here bid Rex is a little different. It does update every so often. But if you want an instant update, you just hit the refresh button and then you can see how it changes. And like I said before, it's extremely important that the addresses you used to deposit or withdraw are the actual addresses that you want to use. Verify them for yourself. You will be sorry if you overlook it and copy, you know, every letter, but the last. And then you try to use that address, you send it off, and then your Bitcoin has gone forever. And you, you know, you lose out on that. So keep in mind, double check. Make sure you're always sending and receiving with the right address. 17. 16 Trading Cryptocurrency: Okay, let's get to the fun part now. So let's go back to the bit. Rex Market. Let's go down here to Bitcoin Markets. I have about $200 worth, so we'll just trade a small fraction of that to show you purpose of this. Let's base this off of the volume here. So neo seems to be very, very popular. Right now, it is down at 18%. Right now it is at 180.1 It went 2.97 It's been holding around 17% for a little while now, and the highest has been 170.12 which is, you know, quite a bit higher than 0.97 So right off the bat, that's probably an all right investment. I believe at some point this will go up, but you definitely want check the graphs and do some more research on that and see where other people are doing to. Like lots of people on YouTube are talking about different cryptocurrencies all the time, so kind of get to feel the market where people are headed and remember, go where the money goes. So you want to try to get in before the money floods in. But it's okay to be a little late. You just don't wanna start buying when everyone has already put all their money right at the very beginning. Maybe a little later. That's OK. Another thing to note is, you know, this is 101% green, so it's pretty much guarantee that this will go down. That is a huge increase. And as you can see here, this is 0.16 whereas the 24 hour high is 240.18 So it's pretty close, considering this was 0.8 Right, So this is a huge increase from 24 hours ago, and that would not be a good investment right now, because it's pretty much at its high point. So a quick way, I kind of based What I'm gonna buy off of is I sort of by volume, and I kind of see the big players of the day like Neo or oh, Misko, add X ethereum Monaco 10 X pay token. Cute. Um, so these air, clearly the ones where all the money is being pumped in at this point. There's a lot of people putting money into it. So based on all this, because this is minus 15 as you know, a minute ago was minus 17. So this is probably on the way back up. It's hit the bottom, and now it's gonna solely get better. So this would probably be a good thing to buy. This is minus 15 and you can see right now. The 24 hour high price was $54. The low was 42 and it's currently at 44. It's asking for 44 should say 44. 82 was the last purchase. It is a big, long, green candle here, and the last one was red after went down. It's been going down for quite a while currently. This seems like it would be good bye. So let's go with this. So since this is an actual signed an account, you can see the buy and sell windows and ah, so this is basically where all the action happens. You can study the graph here. You can see some quick info about the last price, the volume, what the volume is worth in dollars, which is a gigantic amount. Um, What The bid currently is what the ask currently is 24 are high, 24 hour low, and then this is again the by window cell window. These air, the current bids you have the current asks. These would be my open orders if I were to place an order. You have the market history of what actually is going on right now. You can choose to extend it to, let's say, 25 if you want, and they will show up a whole bunch. You kind of get a trend of what's going on. So right now, there was seems to be a lot of buys. As you can see, a lot of people are buying because, like I was saying, they probably are seeing that, You know, chances are it's gonna go higher up again. There's a huge chunk of sales, so I mean, this might give you an indication alone of where the market's headed. But again, it's not completely foolproof. It's not concrete again. There's a giant chunk of buys without being said. You can see this has already increased eso. This would be a good time to buy, so to buy Let's just if we were to do are the last price. That's how you do that. You can also set a bid or you can ask Ah, higher price if you want. This is also a way to set a buying order for the future. You just said it really like low price. And if the price drops to, ah super low time than your order may fill a lot of people set up by order, that's very, very low in hopes of predicting, you know where the market goes down and then back up so that hopefully they're low part matches what they said and then it auto buys for them. All right, so we'll hit the last price here. If we wanted to buy all of the Neo we could with the Bitcoin we have available, we could hit Max and said, I'm just gonna buy a portion. And to do that, you go down to the how much it's gonna cost you the total you're gonna pay, which is in BTC and 0.0 for five. So let's just do 50.2 which is probably about eight bucks and I'll give us ah, 0.19 in Neo. So let's buy this. It will show us that this is what we're doing. This is the commission they're gonna take will confirm that, and then it will set a ah, by order. And then if we go down here to our open orders, we can see that this is up. No one has purchased it yet. And as I was speaking, somebody just bought it. So that was filled for the price we did. If it hasn't sold in, like, 30 seconds or a minute that I normally just hit the cancel button, cancel it and then update the last price and try again. All right, so now if we go over to wallets, we have successfully purchased some neo. So we have $198 now it's gone down a little bit, and that's either because Bitcoin went down while we were trading or neo has gone down since we purchased. Now, every so often, you can press this and then this will update If there has been a change and you'll see here if we unhygienic is your bounces, that everything will show up. But since we only have holdings in these two cryptocurrencies. That's all that will show up. If we have this selected over here, you can see that. Now we have a withdraw in a deposit icon for Neo as well. So we could do the exact same as we did with Bitcoin to send it out somewhere else or to receive more if we wanted if we held neo in a different wallet from, Ah, on a different platform. All right, so now that we've purchased this, normally I would just wait 24 hours and see where it is, and I'd sign in kind of periodically to check on it, and eventually, this will most likely be in the green. And it'll go, you know, go up to, let's say, 5% 10% are way higher. So at that point, I would sell back. But for our purposes, I'm just gonna sacrifice the dollar I lost just for the purposes of teaching this and we'll go back into the marketplace and self. So in order to do that quickly within your wallet account balances area, you can just click on neo and that'll bring us back to the exact same area. All right, so for here let's go to so instead of by now because now I'm gonna teach you out of self so to sell. It's the exact same thing. You can go to Price. You can set the last bitter ask. So in our case will do the last again. In this case, I want to sell all of our neo So we'll just hit Max and then down here, assure you what we will get. And once I'm ready, I kind of look over the numbers and make sure this is exactly what I want to do. Once that's good. I'll just click this just to make sure it's a good thing. As you can see, it has updated while I was speaking, which means, you know, this might be a worse price for a better price. But the point here is if you don't update sometimes that will just mean this will sit here for a really long time. It's kind of a waste time. So if you do intend on selling quick, then the last step should be to just update it. In that's case, go to sell Check. Everything here is good. Go to confirm you're gonna set up Uh, in order for selling. All right, you can see down here that this is the bid. I've asked 0.102 and this is what it's selling for right now. This is the bid, All right, so somebody just bought mine. The order is filling. And now I've successfully sold the neo that we just purchased a few moments ago. Okay, let's go back to wall. It's OK now you can see I only have Bitcoin here. I no longer have the Neo because I sold all of it. And as you can see, we've lost about a dollar doing so so that was obviously not a good trade. Like I said, normally you'd hold this until it the neo or whichever Cryptocurrency you're going ends up going back up for a profit. That's when you sell. And, you know, that's kind of the principles behind day trading. You just buy low and sell high. On the other hand, if you're just looking to buy for the long running or holding, then it doesn't really matter. What price you buy in on, of course, helps if you buy it in a low state. But realistically, if you're holding for five years, it doesn't matter what the current prices now, because most likely, it's gonna go up 18. 17 Intro to Cryptocurrency Market Graphs: All right. Next, let's dive in and learn more about the graphs themselves. So for us to go back to the bit Rex Marketplace and for us, let's choose. Let's just say Neo, for example. Okay, so the first thing we see here is a chart we have sometimes at the bottom on the side. We have a pricing index. We have some more advanced stuff at the top here. As a beginner, it's just not really important. You won't really need those. The only things you really want to pay attention to is where the ups and downs are the colors and the candles themselves as well as the duration of time. So for now, each one of these candles represents this amount of time. So the width of this candle is 30 minutes. This candle, 30 minutes. They're all 30 minutes because we haven't set for 30 minutes. So if you go to all the way to the back here right from the beginning, every single one of these is set to 30 minute intervals. Okay, that's that's the representation we've set. Okay, so if we change this to one day than every single candlestick will represent one day. So the trend on this day was a huge growth rate in neo. The trend the next day was in the other direction. Then the trend. In the next day I went up and the train the next day went up even more. So That's the idea here. So from here, the trend on average per day went way up. Okay, If we switch over to three day or one week or a month, let's say then you can see here that there's only a few ah, candles here because that's all that exists because it's one month intervals. Each one represents one month. Okay, so let's change this now, too. One hour. That means every single one here represents one hour of time. Every single with if we go to us to say, Let's just pick this one, for example, what this means Each one is called a candlestick. Okay, the block itself is your wax, and the line is the wick coming out of the wax. Okay, so that's why it's called a candlestick during this one hour period. Because over here we haven't said to an hour. So during this one hour period, the price went from down here all the way up here. Okay. In that one hour, at some point, that was the high that was a low. And for this red one over here, the high was way up here, and the low was just below it here. So that's what that represents. It's the total fluctuation in that duration of time in that interval. All right, so I hope that's easy to understand. The next thing to understand is the height of each actual candle. So what that means is, it started here at some point. It went below to hear, and then it went all the way up to here at some point, and then it finished here. So what? Those mean, the very top and bottom of actual candle that means where it opened and were closed during that time period. Okay, so if we switched to the one week now, this means one entire week. So at the end of the last week, it ended down here, and it started there. And we know that because it's red. So it started here and then went down to here and ended. Okay, But because the wicks way down here at some point in that week. It actually went all the way down the here before finishing the weekend at this point. Okay, so for the green on the next week, we know we started here because we ended here in the last week. So we're gonna start at that point at some point during the week. It went all the way down to here and then at some point in the weekend, went all the way up to here. And then it finished the week right at the top here, and that was an increase from where it started. That's why we have a green one. This was a decrease from where it started. That's why we have a red candle. So that's really the way to view this stuff. It's the only really important things at this stage that you want to know. Is the interval time what the candles represent for that interval time, how the price fluctuates during that time period where it started and where it sold. So, using that information, you can get a better picture of how the trend was going, and the whole point here is to try to predict the next one Okay, So in this case, we've gone from this point here. It ended two there. Then it went to here. Here, here, here, here it away Appear. It started here, went down a little bit, went way up, then finished down here at this part. Then the next block, it went here all the way down to here. At some point, it did go higher, but at a certain point, this at the end of the one week interval, it finished here and again. There's no 100% accurate way to do this, but using this information and understanding, it allows for a much better chance of predicting which next one will be. So I find it hard to predict over the week, so I tend to go to more of the ah, the hourly. But if you look at the weekend, get kind of an overview of where the entire market has been going lately. So for here you can see that it's gone all the way down. But you'll notice in the last hour it's actually starting to go up. So as we're seeing before, this might be a good time to buy in because the task is very close to the 24 hour low, and we just finished a very long decline. This one went up a bit, but then all the way down right, there was a huge change. But this one, it started down here and actually did all that and finish halfway. So in this case, there's a good chance that the market is kind of turning around here for Neo. This might be an okay time to buy. However, If we compare these two candles, you'll notice that it started here, went a little higher and then dropped all the way down. And then we started here at some point, went a little lower. Then it went way up. And then at the end of the hour, it finished right here at 0.10 because it went so high at some point and it finished here. That might be a good indication that the trend was going down. So we want to find candlesticks in the other direction. So let's try to find one over here. Okay, so the price started right here. It went up for a bit. Then at some point it went all the way down and then it finished right here. We know the next price based on this candle is gonna be right here, Right? But if this one didn't exist based on this scandal, because it went all the way down and then it finished here, that was an uptrend, right? At some point, it was way down here, but it finished higher than the lowest. So it's gonna start there and probably continue to trend up a bit. You know, it may not, but it's a It's a good way to look at that. Let's look at this one as well. It started here, went down a bit, went way up here and then finished here. Now, again, that might be a good indication that it's going down, But it didn't. It ended up going here. You want way back up. You can't always predict what's gonna happen. But knowing this information allows you to kind of analyze the market as a whole, and you'll pick up trends as you go along and see different patterns in the marketplace and make your own judgments on this stuff. If they know for sure that when they see a candle that goes all the way up to here and finishes here that the next one would skyrocket in green. I mean, that would be written all the books, and everyone would know it. But the way it is is not like that. You know, this is this what makes it very volatile. People lose their money, people get a lot of money, and that's just the way the market goes. And like I said before, it really depends on a lot of factors. For example, Bill Gates purchase, I believe, $5 million worth of Ethereum in 2017. And that is a lot of money all of a sudden being put in to Ethereum so that would affect the market. Things like that. When influencers come in and talk about a certain Cryptocurrency, it's gonna influence the market. When there's talk of a potential split of a Cryptocurrency like what we had with Ethereum or what we had with Bitcoin that's going to scare some people. It's gonna create some scarcity, and people are gonna panic and sell. That's exactly what happened with Bitcoin. There was a Bitcoin fork split on August 1st, 2017 and just before that, everyone was talking about it, You're gonna lose your bid, Corn. It's gonna crash. What's gonna happen? Nobody knew. Blah, blah, blah. So what ended up happening was just before, about a week before, maybe two weeks before everybody panics sold and the price of Bitcoin dropped like 50%. So that would have been an incredible time to buy, and a lot of people did. By and for those people who did buy into Bitcoin at that point, you know, good for them for noticing that trend or taking the risk, you know. But the reality is there are other influences on the market, and you can't know them. Also, study the trends. Read as many articles as you can. There's another website called Cora Qu r A. They have a lot of people posting questions about Cryptocurrencies, and there's a lot of great answers again. Most of people posting and providing answers. They may not be experts, so take with a grain of salt, but again, learn as much as you can learn to read the charts or again by Bitcoin, And just hold that because there's a very good chance that one will do very well over the long term and There will definitely be some scarcity moments like we had in the past for people panic sell. I heard someone on Facebook. Panic sold in, lost 40%. And then, you know, Bitcoin, I think two days later went back up to where it was. It's already up another 40% I believe since then. So they lost 40% and then gained 40%. So I mean, they missed out on, you know, an opportunity. If they would have either held through it, they would have made money because it's up 40% passed before it originally dipped. Or if they were able to predict the drop in panic sales and sell early and then re by when it was lower, that would have been awesome, you know, thing to do as well. So it's all about timing. It's just like the stock market. Everything is timing Cryptocurrencies again. You're playing the volatility game. It's everything is going to go up and down super quick 20 every 24 hours, even almost to the minute. Things just change so fast. And as you can see her 149% feel 47%. I mean, they move so fast and realistically, this is probably one of do Bitcoin, but it's possible. And that's what's crazy about Cryptocurrencies there, so volatile. 19. 18 Final Thoughts: And another thing regarding the August 1st Bitcoin split was everyone thought August 1st was a time when Bitcoin would go down in value. Everyone thought that's the time when people had no clue what was gonna happen. It was really hard to predict where things would go. And in fact, the majority of people said August 1st, Bitcoins gonna drop like crazy. That's the time to buy. And everyone was so wrong because it dropped two weeks before that ended up being the time to buy. In fact, August 1st it went up and it continued to go up. And that's the crazy thing because everyone thought it was gonna go down and get weaker because it splits into two coins. But in fact, it held its own. And to a lot of people, they ah, kind of locked in and realize that Hey, this is something seriously, Bitcoin is here for the long run. This isn't losing any value. People believe in this. More people are finding out about in pumping money into it. So the August 1st was a really great example of how volatile the Cryptocurrency market really is. How, two weeks before something it could drop by 50%. And then at the time when people think it will drop, it actually goes up. Cryptocurrencies can go up. They could go down like crazy. It's It's so much different in the stock market. But there is so much potential as long as you're willing to lose them on your investing, just in case it does go the other way. Because Bitcoin can only have 21 million ever created and there are 7.8 billion people in the world. That means it's impossible for everyone at a certain point in the future to own one. For example, in Canada, there's over 30 million people, which to some other countries that may be very small, like to China or India or even America but 30 million people. For the example, there are only 21 million Bitcoins. So if no one else in the entire world bought Bitcoin, then that means it's still impossible for all of Canada. For every person their own one Bitcoin There are so few, you know, 21 million seems like a lot, but again, it's not compared to the rest of the world. If everyone or even 2345% of people start to buy into this. The prices going to skyrocket, it's gonna go to the moon. It's gonna go way, way up there. And at that point, people are only gonna own fractions of Bitcoins because they're gonna be worth tens of thousands of dollars, if not hundreds of thousands. You know, there's an article I was reading that Bitcoin may actually hit a $1,000,000 someday by the numbers and the limited supply. It's definitely a possibility. You never see that with an Apple stock, for example, like it doesn't make sense with the numbers. So the limited supply of Bitcoins is definitely something Teoh think about as the main reason for holding for the long run. Alright, guys. So that brings us to the end of the course. So as a few final notes, there are some other options where you can sell from ah bunch of different platforms. There is ah ce x dot io. There's gem and I dot com. Those are a couple other platforms where you can sell your Cryptocurrency back to Fiat money. So I just want to thank you guys a lot for taking the time to learn to invest in the crypto currency markets via this course. So if you haven't left us a review, please do so. I hope I've provided you with a five star experience course after the structure in a way that allows you to learn the best. So I hope you guys got a ton of value from this and it allowed you to understand what cryptocurrencies are. What the Blockchain is. Why this is something that's gonna be around long term, how to buy into with traditional Fiat money, how to do some trades of basic strategies for either buying or for trading every day. And, um, yeah, I just want to thank you guys for enrolling in the course. Don't put all your money into it. If you have 50,000 arm or whatever in an account, don't all of a sudden just transferred over? Take 10% of it, 5% of it. Don't spend all of it because in the Cryptocurrency world, as it is of in this time, you know 2017 2018 it's still so early. Most people have no clue what it is. So even if you put a small amount, you know $15,000. You're going to get huge returns potentially from this. I mean, there's so much opportunity here again, though. Don't invest stuff you're you need. This is this is your money. This is your responsibility. You need to make the decisions. Discourses provided you a ton of information on how to do it. I noticed there wasn't too much information about how to actually do it online. Which platforms are, ah, good to use and I have used them all. I've used Pony X, Jim and I Corn Square coin base, and so on its own. It's owning. So I really like bit Rex for trading. So if you're in it for the long run, hold your own keys. Put into a hardware wallet. Um, that's just the safest way you can do it. For a lot of people, this could literally be their retirement savings or the way they become a millionaire. I mean, there are so many people that have already become millionaires, and I'm not guaranteeing because I can't this This is such a crazy marketplace. But that being said, it is a really good opportunity, and I see it as a pretty good chance that this could have some massive gains in the next few years because it's so early. But if you look into a do your research, you'll see that the Blockchain is going to change and revolutionize tons of different industries at the medical industry's. Just basically, every tech industry there is. Banks are starting to adopt it. All the countries are starting to adopt it. Yeah, it's gonna change the world. So anyways, I'll leave you guys with that. I want to thank you guys again for enrolling in the course. Please leave a review if you haven't, and we will catch you next time.