Trade and Invest in Cryptocurrency and Bitcoin | Zac Hartley | Skillshare

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Trade and Invest in Cryptocurrency and Bitcoin

teacher avatar Zac Hartley, Entrepreneur and Day Trader

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

Watch this class and thousands more

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

Lessons in This Class

21 Lessons (2h 7m)
    • 1. Intro

    • 2. Basics of Crypto

    • 3. Bitcoin

    • 4. Other Popular Coins

    • 5. Price

    • 6. Choosing a crypto Platform

    • 7. Depositing Funds into Binance

    • 8. Buying Crypto

    • 9. Converting Crypto

    • 10. Sending and receioving

    • 11. Strategies

    • 12. Choosing Good Crypto

    • 13. Building a Portfolio

    • 14. Trading Crypto

    • 15. Candle Charts

    • 16. Trend Lines

    • 17. Moving Averages

    • 18. MACD

    • 19. Volume

    • 20. Trading Strategy

    • 21. Staking

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About This Class

Hello Everyone!

My name is Zac Hartley and I have been trading Crypto Currencies for about 2 years now.  I started out in the Stock Market but Crypto has a lot of advantages that I want to share with you in this course!

We are going to start off with the basics and I am going to show you how to build a crypto portfolio as well as short term trade based on technical analysis.  Here are the topics we will cover:

  • How does crypto work
  • Bitcoin and other popular coins
  • How to send/receive crypto
  • How to invest and build a portfolio
  • How to day trade or swing trade any crypto
  • How to stake your crypto for extra income

My goal is to keep things as simple as possible so that you understand how things work and how to use the different tools at your disposal.

I am looking forward to starting this journey with you and I hope you will give me a shot!

Best regards,


Meet Your Teacher

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Zac Hartley

Entrepreneur and Day Trader



My name is Zac Hartley and I am from Calgary, Alberta, Canada.  I am a full time entrepreneur, investor, and youtuber with a passion for building business and sharing my experiences.

I spend most of my mornings looking at the markets and evaluating investments, and in the afternoons I am usually working on a business venture or trying to film new content to share with you!  If you are interested in seeing any of my investments, you can check out my youtube channel @zachartley and you can even sign up for my private discord chat there as well.

My goal with Skillshare is to try and give away as much knowledge as possible in an easy to understand format that regular people can use to change their lives.

If you would like to learn more about how ... See full profile

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1. Intro: What's going on, You guys? My name is Zach Hartley and welcome to my cryptocurrency Fundamentals course. In this course, we're going to walk you through step-by-step, everything you need to know, starting with the basics of what is cryptocurrency and blockchain. Then I'm going to walk you through live how to buy, sell, and deposit your regular money into cryptocurrencies. We're going to walk through how to invest and build a crypto portfolio, as well as how to day trade and swing trade, those exact same crypt dose. Then we're going to walk through a very unique aspect of cryptocurrency called staking. And then lastly, I'm going to walk you through how to find some very unique cryptocurrencies that haven't hit the mainstream yet and have huge potential. So my name is Zachary Hartley. I am a full-time investor, a full-time crypto and stock market trader. I create content on YouTube and I am here to share with you everything that I know and all of the lessons and pain points that I've gone through over the last few years. I'm here to help you try and avoid those mistakes that I made. I actually generated my first crypto wallet back when I was in University in 2013. And I've been trading and investing full-time in stocks and cryptocurrency for the last two years. Now, what do you need in order to get started with this course? You only need one thing. And that is a couple of softwares that we're going to use in order to actually execute our traits and do some research on these crypto, I've put together a PDF that can be found in the resources to this course. And that PDF includes all of the links to the softwares that you will need and that I will be using throughout this course. Now without any further ado, let's get started. 2. Basics of Crypto: All right, You guys welcome to Lesson 1. In this video, we're going to walk through some basic terminology that you are going to need to know and understand in order to go through the next few lessons. Number one is crypto currency. When we say cryptocurrency, we're referring to a digital currency that is not attached to a central issuing authority. So if you're in the United States, that dollar bill in your pocket was issued by the Central Bank. When we talk about a cryptocurrency, we're referring to a currency that is digital and does not have an issuing authority. The management of that currency is going to be done by blockchain. A blockchain is a digital ledger. So in the olden days when we didn't have computers, all of the business transactions were kept track of in a big, large book. That book was referred to as a ledger. Nowadays it's completely electronic and it is referred to as the block chain. That blockchain keeps track of all of the transactions automatically. And the blockchain takes the place of the central bank or the issuer. Now, on either side of those transactions is what's called a digital wallet. This is where you keep all of your crypto currencies. Digital wallet can be either a software and a platform online on your computer that you use, or it can be an actual digital wallet like this is a USB that I bought from a company called ledger. It's got two little buttons on the top and a little screen. And I can store all of my cryptocurrencies on here, or you have the option to do it on a software online. There are advantages and drawbacks of both options. And I'm going to walk you through in this course. Now, each wall it will have an address associated with it. That address is between 26 and 35 characters long, or it can be represented as a QR code. When you send or receive crypto currencies, it goes from one wallet address to the other wallet address, and that is kept track of the blockchain. That's how everything works. Now, once you have a digital wallet and you have some cryptocurrencies in there, it will usually be represented in the form of tickers. A ticker is a short form abbreviation for a security. This is what happens in the stock market world and it's the same thing and cryptocurrencies. So Bitcoin is the long form of that cryptocurrency, but the short form of it is BTC, the ticker of Bitcoin is BTC for a theorem, it's ETH for Dogecoin, it's DO GE, and for ripple it is x RP. So if you see SRP in your digital wallet, that stands for and that represents your ripple holdings. So in summary, cryptocurrencies transact on the blockchain. The blockchain is a digital ledger that automatically verifies the transactions between digital wallets and digital wallets store your crypto coins, which are often represented in the form of tickers. Now, I know that was a lot to take in, but if you have any questions, there's a comment and question section down below. Feel free to write it in there. I will respond to you as fast as I can, but I promise we're going to take this. So I'm going to walk you through step-by-step, everything you need to know. And I will see you in the next video. 3. Bitcoin: All right, let's start talking about Bitcoin. I figured I would do this at the beginning of the course because Bitcoin is sort of something that everybody's familiar with. Bitcoin started the entire cryptocurrency revolution. And it has a really, really amazing backstory that most people don't know about. So I want to just kinda sheds some light on that for you now, crypto coins. Before we get into Bitcoin, you have to understand that each crypto coin is different. Each coin usually has a different purpose or feature that makes it unique. And most crypto, we're usually started for very different reasons. Now, Bitcoin was the first decentralized cryptocurrency that was kind of unleashed. It was set up, it was built, their coins established, and then the block chain was built and it was set out free into the world. Bitcoin was sort of the first one. It started in 2008, and it started out well below even just $0.01. Now the creator's name is Satoshi Nakamoto, but nobody really knows who he is. Bitcoin came out in a white paper and on a couple of online forums under the name Satoshi Nakamoto. But nobody has ever come out and said, I am Satoshi. Here's the proof. Here's how I made Bitcoin. Nobody has ever come out and being able to actually validate that. So we don't really know if Satoshi is a real person, if it's an alias or if it's code for something else. But the reports that he populists came out on August 18th of 2008. I've got a little typo here. It wasn't 2018, it was 2008. And in those reports it was a white paper where he basically explained Bitcoin. Now, I have a screenshot of that exact report. And this is the abstract, the introduction of that report where Satoshi kinda goes through and says, here's what bitcoin is all about. And I want to read this to you because it's really, really cool. So abstract, a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. That is why Bitcoin was created. That is what Bitcoin was designed to do. It was designed to allow me to send you money without going through your bank, without going through PayPal, without going through a third party that was gonna take a commission or a small surcharge or a service fee. It was designed to eliminate that and allow people to effortlessly transact a digital currency. Now if you're interested in seeing the entire report, I'll put a link to it on the PDF page in the resources of this course, I highly recommend you read it. It was really, really cool to kinda go through and see their original concept and idea behind Bitcoin. Now in summary, Bitcoin is the largest cryptocurrency by market cap. It's the one that most people talk about and it's the one that was the founder of the original and the most popular right now. Now, in general, Bitcoin will only ever have 21 million bitcoins available. We've currently mind about 85 percent of them. And I'm going to talk about mining in a later video. But as of right now, about, about 18 and-a-half million bitcoins are currently available and there will only ever be 21 million bitcoins. And the unique thing about that is that it makes Bitcoin deflationary. Now, the problem with regular currencies, and we've seen this throughout history is that they go through inflation, meaning that you are a $100 today by X2 less money ten years from now, 20 years from now 30 years from now a million dollars US used to go a whole lot further 50 years ago than it does today. That's the idea behind deflation. Bitcoin doesn't have that problem because there will only ever be 21 million Bitcoins. Inflation is caused by governments printing money, which is what is happening a lot right now. And it's one of the reasons that bitcoin has seen a pretty dramatic rise up over the last few months. Bitcoin will never have to worry about inflation. So that is really, really nice. And then the last thing that I want to share with you is just kind of a cool fact that Satoshi Nakamoto, we were able to track his wallet address and see actually where the original bitcoins were stored. And what's kinda cool about it is he currently owns 1 million bitcoins and he has never bought or sold or transacted with those Bitcoins. So maybe the wallet is lost, maybe nobody has access to it, but maybe it's maybe Satoshi still out there. And he's sitting around with 1 million bitcoins in his wallet at around $60 thousand US, he would be doing extremely, extremely well right now. 4. Other Popular Coins: Okay, So we just finished talking about Bitcoin. Let's take a quick look at some other popular cryptocurrency coins that are out there right now that you've probably heard of that you might not know how they work or what they do. So these are the ones that we're going to cover in this video. We're gonna go through ether, finance, coin x RP or ripple. We're going to talk about tether and then we're going to talk about Cardano. So let's talk about ether. Okay, so ether, the ticker symbol for ether is ETC. And ether runs on something called the Ethereum network. The Ethereum network allows for smart contracts, automated payments, and decentralized applications. The advantage of a theorem is that you can basically write computer code and programs that will automate transactions and financial lending, for instance, and automated payments. So a lot of the FFTs that have just come out recently, a lot of music, a lot of lending services, anything where you have to computer program, Hey, when this happens, send the money here or auto payment or auto charge, things like that. And most of it is happening on the Ethereum network because it's easier to program and it's easier to control rather than Bitcoin. So a theorem is a cryptocurrency that is picking up a lot of traction in the areas of NFT is non-fungible tokens, music, lending and investing, pooling and invoicing. So it's theorem is just something that you have a whole lot more control over as a developer and as a computer program than you do with Bitcoin. The next one we're going to talk about is finance coin. The ticker symbol for this one is B and B. And this ticker was created and is primarily used on the finance platform. That is the largest kind of cryptocurrency exchange and trading platform in the market right now. And that's also the platform that we are going to use for this course. So this is definitely an important coin to know about. And finance is a crypto trading and investing platform that BNB coin can be traded with almost any other coin for very low fees. That is the advantage of B&B. That is what makes you B&B unique. And that is why people use B&B because you can use it on an IT crypto exchange and trading platform. And this BNB coin can be used to trade with almost any other coin, which is really, really nice because let's say you wanted to go from ether to ripple. Sometimes those pairs don't always line up, but you can always go from ether to Bitcoin and Finance going to ether. So that is the advantage of Bitcoin. B&b allows you to buy or sell other crypto is very, very easily. The next one we're going to talk about is x RP. This is sometimes referred to as ripple. Ripple is actually the company that runs SRP. Well, as a company and they run a payment platform that has very, very low transaction fees and their regulatory compliant, meaning that in most countries they actually meet the regulatory compliance requirements in order to transact and send and receive money. And the idea here is that ripple is designed to compete with currency conversion and wire transfers. So for instance, if you need to convert $20 thousand from canadian to us and they're going to charge you 2%. You can probably do it a whole lot cheaper using Ripple if you need to pay $15 to send a wire transfer between two different countries, you can probably do it a whole lot cheaper using Ripple. And so that's the advantage of x RP. That's what makes Charpy unique and that's why people are using SRP. The next thing that I want to talk about is tether. The ticker symbol for tether is us DDT. And this is what is referred to as a stable coin. One coin of tether is used to represent $1 USD, and they try to maintain that exact ratio the entire way through. That is why it is referred to as a stable coin because it should be stable in regards to its value with the US $1.1 tether coin should always represent you one US dollar. It is run by the tether limited company and it is supposed to be backed by physical reserves, meaning that when they issue one tether coined, that coin should actually be backed by a US dollar. And this is a very, very popular coin because it allows you to understand how much money you actually have in your account or when you're trying to trade between BNB and Bitcoin. And one bit coins were 60000, but a B&B is where $600 sometimes it's hard to understand how much money you're actually trading with, whether it's one or two Bitcoin or B&B. Sometimes you get lost there, but if you use tether, you SDT, it basically converts everything back to US dollars, even though you're still staying in the cryptocurrency world, that's what makes tether unique. That's why people use tether. Now the last point that I want to talk about here is Cardano. The ticker symbol for Cardano is ADA. And this is very similar to ether. It is a smart contract platform that people can go in. They can write computer code and they can program when payments go out and they can create applications around it. So it's very similar to a theorem, but it is mined slightly differently. You, they are producing these coins slightly differently. And that basically gives them the ability to have much lower fees. That's the advantage of Cardano is that it is much newer, it's much smaller and it has much lower transaction fees than ether. That's why people are using it and that's why it's picking up steam right now. And that's why it's getting a lot of attention is because it's a very similar platform to ether, but it cost a whole lot less than transaction. Now, in summary here, these are just a couple of the most popular coins. There are thousands of coins for you to look out, for you to do your due diligence on and for you to analyze. But these are just the ones that are some of the largest, some of the most popular, and they come from a variety of different categories. So I wanted to break them down for you and give you some examples of how each coin is unique and has some different features to it. 5. Price: Okay guys, welcome to another lesson. In this one we're gonna talk about price and how is the price of a cryptocurrency determined, okay, so the price of a cryptocurrency is determined based on supply and demand. The reason they're based on supply and demand is because all of these cryptocurrencies trade on a market and a market executes your traits when somebody is willing to buy and sell at the same level. So if the lowest somebody is willing to sell is $75 and the highest somebody is willing to pay for a cryptocurrency is only $70. That means there's a $5 difference there and nothing is going to happen as soon as somebody comes in and says, No, I'm willing to buy at 75, those two price levels match up and the transaction executes. If somebody wants to buy 10000 shares, they might have to go all the way up and execute the orders that are stacked on top. If somebody wants to sell out of all their shares, they might have to sell at $70, at 69, at 68, and at 67, an order for them to fill all of the cryptocurrency that they either want to buy or sell. So lots of different things happening there. But basically what I'm trying to say to you is that the price of every single cryptocurrency is only based on supply and demand. If more people want to buy a cryptocurrency and the demand increases, the price is going to increase. If nobody wants to buy the cryptocurrency and nobody wants to hold it and everybody is selling, the price is going to absolutely plummet until some knee steps back in and says, I'm willing to buy at this price. Now, what drives the price higher? There's two different factors, like I just said, supply decrease. If there is a decrease in the amount of coins that can be purchased, that can drive the price higher. The other option is a demand increase. If more and more people want to buy that particular coin, then the number of people that are willing to sell at a given price, that will drive the price up as well. So let's look at a couple of examples of this. Now, supply decreases. You might be thinking, well, how does the supply of the coin decrease in size? There's a couple different ways, starting with the coins that are being destroyed or C. So let's say the government sees a couple of coins and destroys them, or somebody loses their physical wallets, somebody loses their ledger with a 100 Bitcoin on it. Those coins are never coming back. They're never going to go back into the market. And that is going to decrease the supply of coins that are available in the market. The other way that coins can be destroyed is if the organization that actually issued the coins buys them back and destroys them. And so you can see this happening in a couple of different coins. B and B is one of them where BnB was made by a company that runs a trading platform. That training platform is actually using 20 percent of their profits to buyback B&B coin and destroy it should overtime increase the value of the remaining B&B coins, and therefore it should drive the price up. So very exciting and a couple of different ways that the supply can decrease. Now the next way that the supply can decrease is if the coins become harder to mine. So we know that the final bitcoins are going to be extremely hard to mine. What if all of a sudden the 19 and 20 million bitcoins at the very end become excruciatingly difficult to mind. It's going to delay the amount of Bitcoins that come into the market. And that is going to decrease the expected supply that we were anticipating. And the last thing is if people decide to hold for the long-term. So if all of a sudden nobody is willing to sell their Bitcoin or their cryptocurrency at any price level, that all of sudden means that the supply has dried up. And if the next person wants to go in and buy, they're going to have to buy at the lowest price as somebody is willing to sell. And that's usually going to be at a higher price if nobody else is willing to sell. Now the other side of this equation is when the demand for the cryptocurrency increases. This can happen based on a variety of different factors, such as more places accepting crypto. This is going to be probably the number one factor that I see in global mass adoption of cryptocurrency. If you see Amazon, Walmart, Uber, and all these other major companies, all of a sudden, except Bitcoin and other cryptocurrencies. It is going to drive massive demand into these cryptocurrencies because people can now use those crypto in order to transact and they have a higher utility value. The other thing that's driving a lot of the demand and crypto is right now is hype. You can see Elon Musk tweeting about dogecoin a lot right now. And that is going to drive a lot of hype to very small coins. And that's going to drive the price up because a lot of people are trying to get into it just because Elon is tweeting about it. The third option is easier access to crypto. The easier it becomes to buy and sell crypto on your mobile device, the easier it is going to be from more and more people to get into it. And if the entire global population decide to get into cryptocurrency tomorrow and invest their money into it. Now, drive the price to the moon for pretty much every cryptocurrency. There's certain cryptocurrencies that are strictly based on just having lower fees. And this is a huge advantage when you are transferring money or converting currencies. If you have to pay $500 to convert your money from canadian to US dollars, but you could do it using cryptocurrency for under $1. I would take that and I would go through the hassle of setting that up all day long. Same thing was sending a wire transfer. Same thing with pretty much every transaction. You can probably do it for cheaper and lower fees using cryptocurrency. Lastly is utility. If that cryptocurrency has a genuine real life purpose and utility and use case scenario that is going to drive the demand because more people are going to want to use it. Because more than likely it's quicker, faster, and cheaper than our current infrastructure. Now, in summary, the only thing that drives the price of every single cryptocurrency is supply and demand. If supply shrinks and demand increases, that price is going to the moon. And the better that you can understand the impacts that supply and demand will have on a cryptocurrency. The more money you can make and the better you can predict what that price will do. I'll see you guys in the next video. 6. Choosing a crypto Platform: All right, You guys, now that you understand the basics of cryptocurrency, it is time to choose a platform in order to make your first cryptocurrency trade. So in this platform, I'm going to walk you through a couple of things that you should know and a couple of different options for platforms that you can choose. Okay, so the first set of platforms that we're going to look at is mobile applications. Now if you're in the US, I found that robin hoods pretty popular if you're in Canada, well, simple seems pretty popular. And if you're anywhere else, Coinbase is probably a good option for you. Now, the only problem with mobile applications is that number one is they're usually very limited in the number of cryptocurrencies that you can actually buy and sell. I know Robin Hood and well, simple, probably only have one to three different crypto you can buy. They're also all three of them very limited in your ability to perform technical analysis on the charts, as well as pleased different types of orders. Both of those things are things that we're gonna wanna do later on in this course. So for us, we're not going to use a mobile app, we're going to use a desktop application or basically an online software that you can access. Now, there's three different softwares that seemed to be the most popular for us. We're going to use finance. This is by far the world's largest and the most popular at the second one is Catholics, and then there's bit checks. Now, these platforms allow full technical analysis, margin trading, as well as a variety of different order types. They give you a whole lot more analysis, a whole lot more control, and a whole lot more in-depth knowledge and information about what you're doing and about the cryptocurrencies themselves. Now, my personal preference and the platform that I like to use the best is finance. I think they have the best platform. It's the easiest to use. It's very easy to sign up. And if you guys wanna choose to use finance, this is the one that we're going to use for the rest of the course. So I highly recommend it and there's a link to the actual platform in the PDF that is in the resources to this course. So definitely check that out. But ByteDance has created their own Blockchain and their own token b and b. We talked about this a little bit earlier on, but B&B, really unique because B&B can be traded with almost any coin. The problem with a lot of the coins right now is that you can't go from polka dot to Cardano or you can't go from a theory them to Cardano and back because they just don't have those exchanges. But you can go from a theorem to B&B to Cardano. And that way B&B basically acts as that middle ground with very low transaction fees so that you can change from one to the other. Now, I like that because it allows us to trade pretty much any cryptocurrency. And we can convert any cryptocurrency into another one with very low trading fees and it's very easy to use. The other things that I like about finance is that they have over 150 different coins that you can just buy into with your credit card or an e transfer. They also have a very good technical analysis tools on the price charts that can help you identify trends and the price action to identify goodbye and sell opportunities. They have very low trading fees and it's also very easy to use and setup. I will give you the disclaimer though. I think it takes a day or two to verify your account. So if you're interested in using it, basically, any platform is gonna take a day or two to verify your account. So definitely do that early. Now, the finance blockchain, we have to talk about this real quick because this is kind of unique about finance. They made their own blockchain that uses the BnB coin or the finance coin. And B&B can be traded for almost any coin. Like I said, the advantage of this is that you pay very low fees. Hold some B&B if you make any transaction on the finance platform and you hold some B&B, it will pull the transaction fees out of that BNB holding at a reduced rate. So that's really, really nice. And the cool thing about the BnB coin is that when it came out, when it did an Initial Coin Offering and when it started out, there was 200 million coins in circulation. There is no mining, so there will never be more than 200 million coins and they're already in circulation. And the cool thing here is that binds as a business and it plans to buy back B&B coin using company profits. And it is going to destroy those coins until it has destroyed 50 percent of the supply. So finance, as a company is going to use its profits to buyback B&B coin and destroy it until the outstanding coins comes down to 100 million. Now what's cool about this is that as the platform grows, the demand for B&B should increase because more people are going to want reduced fees. They're going to want to use B&B to trade different crip dose. And they're gonna wanna hold B&B because it could grow in the long-term. The other thing that's happening here is on the supply side, finance because it's a for profit company that is making money, using that money to invest back into BNB and it is buying up those coins and it is reducing the supply. So what's really nice about finance and BNB and this block chain is that the demand should increase over time. And if they make money, the supply should decrease over time. And both of those factors combined should have a very large impact on the price. Now, how does this all work together? Well, let me just summarize it for you real quick. Finance as a trading platform and as a company, B&B is a coin that that company made that can be used to transact with almost any other coin on that platform. B&b should appreciate in value over time, if the company destroys 50% of the outstanding coins, as well as people continue to buy the coin, to use it on finance and save on reduced fees. And so I liked the platform. I like what they do, I like how it's set up. I currently own B&B right now. It has gone up in value and I'm very happy with the entire ecosystem that they've built, which is why I'm sharing it with you, and which is why we're going to use it for this course. Now, to get started with finance is really easy to accept. Ie transfers, they accept wire you can pay with your credit card and they have over 103rd party payment providers that you can sign up with and link your accounts due to put some money into your finance and get started. And I'm going to walk you through step-by-step everything you need to know in order to do that. I'll see you guys in the next video. 7. Depositing Funds into Binance: What's going on? You guys welcome to another lesson in this video, I'm going to walk you through one of the ways that you can get your money into the finance system while paying very low fees. We are going to use the Newton platform to buy SRP and then transfer it over to our finance wallet. And in this video, I'm gonna give you the step-by-step guide on everything you need to know. Let's go. Okay, so really simple. I'm on the Google page right here and I'm just going to type in Newton any WTO and the website is any WTO and CEO and I already have an account. It did take me a couple of days to kind of get approved. So keep that in mind is you may need to go through a little bit of a process to create your account. And then you do have a two-step kind of verification as well. So for me, 6221188. So I'm going to walk you through basically my account actually just set it up. I haven't done too many transactions in here. So it's gonna be a perfect example because as you can see, there is 0 money in the account. So the first thing we need to do is add some funds. And the way that I am going to do that is with an e transfer for me, that is definitely the cheapest way to do it. And let's just do it for $50 to get started. And let's go from there. So send fun request. So the request has been sent a funding request has been sent to zed Hartley at hall medulla, CA. That is my email. Please don't spam me and let's go open it up and see if it's there. So Newton transfer request, okay, So this is easy, I just kinda log in and then really easily it already has the form pulled up for me, withdraw from the account and then message to contact is totally optional. And then click on Continue and confirm it. And so that is literally all you have to do is just kind of confirm the transmitter email that they send you. So I just got a notification on my phone that the money has been sent. So we should see it in the account here in the next well, five to 30 minutes. So I'm probably going to put a little time-lapse on and we will just sort of see what happens. Oh, it just happened. It literally just happened. I just saw at the screen change. I didn't even have to refresh it. That was actually pretty cool. So now as you can see, I have $50 in my account. I feel like I just got an update here as well. Yeah. I just got an update posted right now, an e-mail from Newton. You obviously could see that, I don't know. I got an update from noon, just came in and the screen change. So now we have $50 in our noon account. All we're gonna do is we're going to trade $50 in Canadian and we're going to buy x RP or ripple. That's what it's called right here. We're gonna go to Review trade. And then by x RP, this should take just a couple of seconds. And now as you can see, that costs me one sent to put money from my bank account into Newton and then convert it to XR. It cost me $0.01, which is absolutely phenomenal. So now what we're going to do is we're going to exit out of this. And as you can see, I have $0 in Canadian funds, but I have while now more than $50 in XR piece that I was actually just probably the price change there. But now what we wanna do is now that our funds are in crypto, but they're on Newton. We want to transition them to bind. And all we're gonna do is go to withdrawal rate here and then we're gonna go to crypto, to wallet. And so what we're gonna do is click on maximum. That's going to pull out all of my x RP. And then down here you can see it says transfer address and tag. So what I need to do is now go into finance and get my transfer address or my wallet address for x RP in finance. So that's what we're gonna do now. So. First thing I'm gonna do is open a new tab and then go to finance. And we're going to log in and might have me logged in already. There we go. So we're gonna go to overview and then we're going to click on to pause it. And we're going to click on deposit crypto. And here we're going to change from BTC to x RP. So I'm just going to type it in here, x RP ripple. As you can see, you have to click on I understand. And then it says please enter both the tag and the address data. So this is really important. Make sure that you have both and all you have to do is go copy address right here. I'm going to go back to noon. I'm going to go transfer address, copy and paste it just like that. Copy and paste the tag right here in geotag. Boom, just like that. And then all you have to do is kinda go review, withdraw, and a should basically almost instantly send this to my finance account, which is really, really nice. And so now it's going through the process. It says success. And now, and probably just a minute it will show up in my finance account, which is really nice. Okay, you guys, so I just got the notification from finance on both my phone and my email saying that the funds had been successfully deposited. And when I refresh my screen here, you can see that the ripple has been deposited into my finance account. I have the exact same amount of ripple through 30.4, so the same amount is transferred, but this number here of $41 actually in US dollars and I deposited $50 in Canadian. So that currency conversion there makes total sense as well. And I've now put the exact same amount of ripple now into my finance account. And we've probably paid maybe five, maybe $0.10 worth of fees. So we've done extremely well on it and this is probably one of the best ways to get your money into finance. There might be other options that, that costs a little bit less, but this is probably one of the easiest and lowest cost way. So if you want to now convert your SRP or your ripple, Let's say you SDT or tether or be USD, so that it's a stable coins that you're not worried about it being super volatile. It you just go to Convert right here, and let's go with x RP, and let's convert it into B USD. And let's go with max rate their preview that conversion. And now you can see we've got $41 USD, which is really nice. And now you've turned your fiat Canadian money into x RP transitioned into finance, and now you've turned it back into a stable coin. And you can use that stablecoin to trade any coin that you want, whether it's Bitcoin, whether it's Dogecoin, whether it's some tiny little altcoin, you can do whatever you want with it. And this is going to be one of the best ways to fund your finance account. If you guys need any help with this, definitely leave a comment down below and I will do my best to apply as soon as I possibly can and help you out along the way, there are other options you can pretty much sign up for. Any crypto platform that you can put money into. You can then send it to your finance while it so keep that in mind. Lots of different options and different ways to do this. Just try and find the one that's going to cost you the least amount in fees. Ripple is usually a great option. Or if you can just buy a stablecoin directly, whether it's USD T or B USD, both of them are good stable coins. It sometimes you can buy directly with very low fees and then send that money to finance. That's another way to do it. So there's lots of different options here, but we'll see you guys in the next video. 8. Buying Crypto: All right, You guys welcome to another lesson. It is officially time for you to go in and buy your first crypto. So in this video, I will walk you through step-by-step how to put money into your account and how to make that first transaction here is everything you need to know. Let's go. Okay, so I've got my finance account open right now, and as you can see on the homepage here, you've got this Buy Now button right in the center. You also have the option on the top left here to click on by crypto. And a couple of different options present themselves here. So a variety of different ways to buy crypto on the homepage. You can also see the current price of a lot of the popular cryptocurrencies that are available. You can see B&B, which is the Bitcoin, Bitcoin, Ethereum, Chile's File, Coin and Cardano. Some of these we've talked about so far, some of them will be talking about soon. You can also go down to trade anywhere and you can get this as a full application for your computer or for your mobile device, like I mentioned, and that's pretty much the homepage. So the first thing that we're gonna do is click on this bind now been, and then I'm going to walk through what we want to buy. So we're going to buy Bitcoin today and we're going to buy $100 Canadian. We're going to put a $100 Canadian, and we're going to try and buy one Bitcoin and then we're gonna click on Continue. And it is going to give you some options of how you would like to buy. So what we're gonna do is we're going to skip through this kind of introduction here. We're going to click on Visa MasterCard. And then you're gonna go through here and you're going to enter a card number. You're going to put your credit card number in here. You're going to click on Next, and then you're gonna confirm your order. It's going to execute that order and then that cryptocurrency will then be in your wallet. I'm not gonna do this right now because actually transfer most of my money in from other wallets, but that's okay for right now. So that's the first method of how you buy the cryptocurrency. And then what will happen is it will appear in your wallet. So I'm going to click on the wallet been right here and then I'm gonna go to overview, and this is pretty much the summary of my crypto currency accounts. So as you can see, my estimated balance in Bitcoin is $661. This is kind of the base cryptocurrency that they give. So they give you everything in terms of Bitcoin, about $660 for the Bitcoin. And I have these other currencies. Down here you can see a theorem classic the graph rippled BNB, a theorem Dogecoin and v change. So I've got a variety of different cryptocurrencies here. And then if you click on the feet and spot been on the left-hand side, you can see how much you own in each and every single one of these cryptocurrencies. And then if you want to see your performance over time, I think I lost some money yesterday because it wasn't a good day and crypto, I was $58 yesterday, but overall, we're doing pretty good, especially in this small little burner account that I have. And this is where you can see your profit analysis and all of the analytics that you want to see. So this is where you go in and you actually see all of your small details, your profit and loss, and all of your analytics. Again, I'm going to show you that just real quick here it is under fit and spot inside of your wallet. And then you click on this little arrow right here. And now I'm gonna go back to the homepage here. And the way that we bought Crypto the first time was by clicking this Buy Now button, and now would be basically buying Bitcoin on your credit card. But let's say you just wanted to put some money into your account and you didn't want to do it on your credit card. Let's say that you wanted to do it with an e transfer and oral wire transfer. Well, you go to buy crypto, you click on third-party payments. And then the one that I've been using is this banks are one right here. And so you click on IM, agree to the terms here. I have to enter how much you want to put in. So for us, we're going to do a $100 Canadian again, and we're going to receive Bitcoin. So for us, we'll click on IVIG greed and accept the terms and then Continue. Now it's going to take us to this third-party payment provider called banks. And what's nice about banks is it gives you a couple of different options. So you can choose, again to pay for this on your credit card, but you can also pay by sending in an IIT transfer. And this is really nice because when you go to create order now, what it will do is it will give you all of the information that you need in order to send Banca and e transfer that will deposit the money into your actual account. And so here's the email that you send the heat transfer to. Here's the security question that they want you to ask and here's the answer to the security question. And so once you click on confirm, it will basically send this order for you. You will then go into your online banking with whatever bank account you use, you will send the e transfer according to this information. And within about five to 15 minutes, it will get registered in your ByteDance account, and then you have money and Bitcoin in your account that you can keep in Bitcoin, you can convert to a different currency, you can invest it, you can do whatever you want with your all set up. Again, I'm going to go back to I'm just gonna go to the homepage here and I'm gonna walk you through that again real quick. So by crypto and then you go to third party payments, you go to the bank. So option you do have to enter in the amount that you want. You click on banks, you click on I have read and agree to the terms. And then you click on Continue and then you choose credit card or heat transfer. So those are two different ways that you can make your first transaction of buying Bitcoin or buying whatever, whatever currency you would prefer. And then when you go back to the homepage and you go to your wallet and you go to feed and spot, you can see exactly what cryptocurrencies you have in your account. I've got B&B, you SDT a theorem. I've got this amount in this account, I'm up $7 today. We're doing pretty good. I'm pretty happy with how things are going. And the crypto markets are a little bit choppy today and yesterday, but so far things are going really well. Now I'm back on the homepage here and just to reiterate once again, if you want to make your first transaction and get into cryptocurrency, you can click on the Buy Now button right in the middle. You can also go to buy crypto. You can pay with your debit or credit card or you can go to one of the third-party payments. I haven't used the peer-to-peer trading. I haven't found it as efficient, but it is definitely an option. So there's a variety of different ways for you to get money into your finance account. In the next videos, we're going to talk about how to send and receive different cryptocurrencies. And then we're gonna talk about how to convert that Bitcoin that you just purchased into a different cryptocurrency. I'm gonna give you all of that in a step-by-step tutorial, just like this video. So stay tuned. Let's go. 9. Converting Crypto: Are you guys? In the last video we talked about how to buy your first cryptocurrency. And in this video, we're gonna talk about how to convert that first purchase into any other cryptocurrency that you may want to hold. Here is everything you need to know. Let's go. Okay, So trading your first crypto, this is when you convert one coin into a different coin. For example, we bought Bitcoin in that first example. Let's now trait that Bitcoin into ether. Or let's convert B&B into Bitcoin, or let's convert ether into B&B. Any of those scenarios, That's what we're talking about in this video. And to get us started, I'm going to show you the simplest way to do this, okay, so I'm on the Finance homepage right now and I don't need to use this middle button that says By now I don't need to buy new crypto to exchange and convert my crypto and trade it. So I'm gonna go to trade and then I'm going to click on Convert, which is the first drop-down right there. And then it is going to pull up this basically conversion window for us. And so as you can see, I currently have 43 for us, DDT that is tethered, that is the stable coin that is pegged to the US dollar. So realistically it's about $43 US. I also have a couple other coins in my wallet right now. I think I Oh, no, I don't have any Bitcoin right now. I do have some B&B. I have 1 to 19 B&B, so we could use anything that I have. I can pull it up here and we can use that. So let's use B&B right now, cause I've done most of it and let's convert it into a theory. And I could choose any other crypto that I want here. But for this example, let's use a theorem. And so let's convert 10 percent of one B&B coin. I think right now they're trading around five or $600, so it'll be about 50, $60 USD. So we're gonna go 0.1 B and B. And that's going to convert into a theorem. So what we're gonna do is click on Preview conversion. It's going to basically give us a quote here, and as you can see, it's got a countdown. I have a countdown on the screen right now. And that is my quote for converting B&B into a theorem. If that countdown gets all the way to 0, it means that that quote expires and I need to refresh and getting new quote, it means that the price has probably changed since they gave me the last quote. So I clicked on Refresh. I've got a new quote right here. And if I click on Convert, like I'm going to do right now, it is going to process. And as you can see right there, it is now successful. I will spend one BNB and I converted it into 0.02. A theorem, here's the conversion rate and the price at which I convert it. And then when I click on View Status is going to take me to my trait history. And I can see right here that I'm 2020 04 18, I converted BNB and a theorem from B&B would 0.1 or 10% of a B&B coin into a theorem which gave me an amount of 0.02 a theorem. And this was the price and the conversion rate. And you can see the status was successful. So now I've gone in there and I've converted B&B into a theorem. Very, very simply, I-V current one cryptocurrency into the other. And now if I go to my wallet and I go to Overview, I should see a theorem in my wallet. You can see it right there, a theorem classic. And if I go to Fit and spot, you can see that that a theorem has now been added to my account. I now have 0.03. A theorem I must have had less than that earlier on. So, oh, there you go. I had $81 in a theorem in there now, and I only sent in about 50 or $60 in USD. So I transferred about $20, so had about $20 in the account beforehand. So this is where you can see the results of your transfers if you want to see your performance over time, like I said, everything is right there. And if you want to see the history of your conversions, you just go over here to orders and then you go convert history. And we'll show you all of the conversion history that you have made. And as you can see, that trade is right here again. So if you want to trade one currency into the other, the easiest and simplest way it will be to go to the trade button here and then click on Convert and choose the currency that you have, and then choose the currency that you want to convert it into. In the next video, we're going to talk about how to send and receive cryptocurrencies. 10. Sending and receioving: Are you guys welcome to another video? In this one we're gonna talk about how to send and receive crypto currencies from and to another wallet. So if your buddy as Bitcoin and you owe them $20, you can now send it and cryptocurrencies. So let's jump into my finance platform. This again, as always, is the homepage. And in order to get into selling and receiving crypto currencies, you need to go to your wallet and you need to click on the Overview. Once you get into the overview of your wallet, this is basically like literally opening up your wallet and then deciding what to do with it. And so what we're gonna do is we're going to click on withdraw. Withdraw is going to allow us to send cryptocurrency to another account if we had clicked on transfer, transfer is moving cryptocurrency within our finance accounts. And for us right now, just starting up, only have one account. So we never need to use that transfer button right now. So we're going to start with withdrawn now, in order to send somebody money, There's a couple of things that you need to fill out here. Number one is you have to choose the coin that you want to send somebody money in. So for us, we're going to use BnB just because I have a bunch of my portfolio right now. So I'm going to choose B&B, but you can choose any coin you want. You can choose Bitcoin, you can choose anything you want. You just have to have some of it in your current wallet. Now, the next thing that you're going to need is the recipient's B&B address. This is the wallet address. As long as their wallet can hold B&B, you just need to copy their address. A need to put it into this line. So I have a separate wallet and I'm going to put it in right there. This is going to be where we are sending the BNB two. I'm going to show you in 1 second how to find your wallet address. But in order for you to send somebody money, you have to have their wallet address or you can scan their QR code, they can send it to you. They can do a variety of different things, but you just have to be able to put the recipient's address into this bar right here. And then you have to choose which block chain that you want to send it on. Now, there's a finance chain and then there's the finance smart chain. For us, we're going to use a smart chain and I'll describe what the differences between these two later on in the course. But for right now, we're always going to use the finance smart chain. And so as of right now, we've chosen that we want to send B&B. We've sent the recipient's address, we've inputted the recipient's address, we've chosen what blockchain we want to send it on. The last thing we need to do is send the amount. How much B&B do we actually want to send to this account? For this example, I'm going to send the minimum just because this is a brief little example and as you can see, defile on it is going to be like 0.0005 B&B or roughly about $0.24. So I can send as much money as I want for a very small fee using finance, which is very, very nice. Now, once we've got this all set up, we've got the coin that we want to send the recipient's wallet address. We've got the blockchain that we want to use, and we've got the amount that we want to send, we are all set to go. The last thing you need to do is click on Submit. And then because we're using finance, I have two step verification set up. And because of that, it is going to need my cell phone and my e-mail. It's going to send notifications to both of those and I have to insert the password that they are going to send me. So this is super, super secure. Nobody is going to be able to hack my account and get into this without having access to my email and my cell phone, which is going to be pretty difficult to do. So I'm going to click on send the code. Both of these, it's going to basically send me those notifications and then I'm going to be able to confirm and submit this and send it in. Okay, I've inserted both of the codes here. I'm gonna click on submit, and now it has submitted my request. It is processing the transaction and that new B&B should be sent over to my new wallet address here in the next five to ten minutes. So that is the process of sending cryptocurrency to somebody else. You can go to the width view withdrawal history here and you can see that this transaction is currently processing now, to do that again, I'm just going to give you a brief overview here. All I did was click on withdraw and I chose to send B&B. But if you wanted to send Bitcoin, for instance, you could do the exact same thing. You put in the wallet address that you want to send it to. You choose the blockchain that you want to send it on, and then you are good to go, whichever one will work for you, that it's this one here. And then you choose the amount of bitcoin that you want to send. You click on Submit, and then you're good to go. So that is how you send crypto currency using finance. Now, let's say that you want to receive crypto currency. You want somebody else to send you cryptocurrency, and you want to get that cryptocurrency, it's really, really simple. All you do is you go to deposit and then you choose whichever coin you would like to have deposited. So you can go through here and you can search whatever coin you want. For this example, let's just say it's Bitcoin. And then you're gonna go over here and you're going to choose which block chain you would like to use. For us, we're going to keep it on the BTC or the Bitcoin blockchain. You always want to try and match the blockchain to the coin that you are using. So when we use the BnB, we use the finance smart chain blockchain. When we use Bitcoin, we use the Bitcoin block chain and so you keep that selected. And then here is your exact address. This is your wallet address that somebody can send this money to. And if you want to scan it as a QR code, it pops up right here whenever you click this button. And then that person has to go through the exact same process that we just went through in order to withdraw and send money. So this is how it works to send and receive money. In order to receive money, you have to give somebody your wallet address. They have to have that address in order to send money to that address that you can then acknowledge it and received it. And in order to send money, you have to have somebody else's address. You have to choose the block chain, and you have to choose how much money you want to send to them. So not super-complicated, but again, here in finance, all you do is you go to your wallet, you go to overview. If you need to find your wallet address, you click on deposit. You can choose whatever you want here. If it's deposit crypto, it will show you your wallet address. Let's say that you need to withdraw funds. All you do is you go to withdraw. You choose whichever currency you would like to send to somebody else. You put in there address here, you choose the appropriate block chain for whatever cryptocurrency you are sending, you enter in the amount that you would like to send, and then you click on submit. So, so super, super simple and now you know how to buy your first cryptocurrency. You know how to convert it into a different cryptocurrency. And you should know how to deposit and withdraw your cryptocurrency. That principles are the exact same no matter what platform you use, the only thing that changes is the user interface. On to the next video. 11. Strategies: All right, You guys, now that you understand the basics of cryptocurrencies and you know how to make a couple of different transactions. It's time to talk about your investment strategy and more importantly, how to not lose all of your money. So let's jump into it. There's two types of strategies that you can have. The first one is to buy and hold good crypto currencies. It's the exact same strategy in the stock market or in real estate. Buy and hold good assets that appreciate over time and that compounding interest and that compounding growth will do extremely well for you. It's the exact same thing in crypto currencies if you had just bought and hold Bitcoin years and years ago in 2013, pretty much all the way up until 2019, beginning of 2020, you would've done extremely well. And so that is what I'm going to teach you here is how to find good cryptocurrencies to buy and hold over the long-term. And how you can build a portfolio that has diversified, that is going to manage your risk and that is going to perform well for you over the long-term. That is not going to have a bunch of pumped up cryptocurrencies that get the rug pulled out of them. We want to avoid those. That is not what we're here for in this strategy, we are looking for good cryptocurrencies that we think are going to have utility. And I'm going to have reduced supply or increased demand over the long term. That is strategy number 1. Strategy number 2 is to trade in and out of cryptocurrencies. If you trade in and out on the same day, you're a day trader who trade in and out over a course of days or course of weeks, you're considered a swing trader. Most of these traits are based on some type of hype or catalyst or technical analysis. And in this series, I'm also going to walk you through how to analyze stocks and trade in and out on a daily or weekly basis. So we're gonna go through both of these strategies here. But the reason I bring this up is because these strategies are very, very different. You need to decide upfront whether or not you're going to be a trader or you are going to be a holder. Some people call them haulers and the cryptocurrency industry. But you need to decide whether you're going to be a trader that is in and out in a series of days or weeks, or you are, or whether you are trying to build a portfolio of diversified cryptocurrencies that will hopefully do well for you in the long-term. The reason this is extremely important is because you need to decide what you're going to do before you make that investment. And the scenario where this becomes important is if that investment drops as soon as you get in. Because if you are a long-term investor and you think over the long-term, that cryptocurrency is gonna do extremely well, 234 years from now. And as soon as you buy in, that price of the cryptocurrency drops. If you are a long-term investor, that means that you still think it's valuable and now it's on sale and you should be buying more as that price goes down. That's what it means. If you think it's going to be worth a lot two or three years from now, if that price drops and you should be buying more because all of a sudden it just got cheaper and you still think it's going to be worth more in the long run if you are a long-term investor, that is the scenario that plays out. However, let's say the exact same thing happens, but you are a short-term trader. You are only holding this company for a day or a couple of days, or maybe even a week or two. And as soon as you buy in, it drops right away if you're a short-term trader. And that means that your analysis and your prediction of what was going to happen to that stock is wrong and you should get out of that position right away. If you're a short-term trader, he should not be holding losers. You should get out of them right away because you're losing the opportunity to put that money into a better cryptocurrency, into a better investment. That is called the opportunity cost. And that is what a lot of people don't realize, is that if you are a dated or a swing trader, the opportunity cost of holding a loser is much, much larger than just the loss that you take on that loser. You lose all of the time and money that you could've made by investing that money in a better cryptocurrency. And so this is really important for you to think about and decide on whether or not you are a long-term investor or whether you are a traitor, because if you buy into a cryptocurrency and it drops right away, you should be buying it if your investor and you should be selling it if you're a trader. I bring this up because a lot of people kinda confused or blend them together. That's totally fine as long as you make the clear distinction to yourself before you enter the trade, you do not want to enter the trade as a trader, and then the stock drops and then you convert to investor and buy more. That is not what you wanna do. You want to have a plan before you go into the position, before you go into the investment, you want to follow that plan and you want to analyze the data that you gather from that plan so that you can improve it over time. If you're constantly fudging around your plan and fudging around your strategy. You're not going to be able to gather any data to analyze that plan and refine it moving forward. That is the goal here, and that is what we are trying to build, is a trading strategy and investing strategy and investing plan that we can put into use. We can gather data on, we can refine and that we can improve moving forward. That's what we're going to be trying to build for the rest of this course. Here we go. 12. Choosing Good Crypto: All right guys, so in the last video we talked about the difference between investing and trading. In this video, we're going to focus on investing and how to find good crypto currencies that are going to be worth more in the future. Let's go. Okay, so when it comes to cryptocurrencies, price is king and we want to make money. So what we need to do is we want to bind now and we want the price of that cryptocurrency to go up over time. Now, like I said at the beginning of this course, the only thing that impacts the price of a cryptocurrency, it's supply and demand. So we want to try and find a cryptocurrency that is going to see increased demand in the future and a limited or decreasing supply. Now, I've put together a couple of steps for how we can kinda start to uncover this and find something that fits that description. And the first thing that you need to do is understand the crypto. So what do I mean by this? Well, you need to kind of understand these five questions right here and you need to be able to answer these. Number one, why was it created? What is the purpose behind this crypto? And what is it there to solve? Number two is what makes it unique. Is there other crypto is trying to solve this problem and is it different? Number three is, does it work? Does it actually solve that problem and does it help in some type of utility way? Number 4 is, are there people currently using it? Does it actually help solve a problem that people needed to be solved? And lastly, as do you think more people will want it in the future, if this is something that is absolutely beneficial, it has a huge impact and not many people know about it. Well, that's probably something that a lot more people will want in the future. And those are the kinda things that you would want to look out for. And now let's put this into a real life scenario and let's talk about Cardano. This is ADA is the ticker. This is the cryptocurrency that was basically designed to compete with a theorem. And I think it's a great example of a cryptocurrency that solves a problem. So Cardano was created to be cheaper than a theorem and the Ethereum network, they do that by having lower transaction fees. The biggest problem and the biggest criticism of ether and the Ethereum network is how much it cost in transaction fees to run these smart contracts and these decentralized apps, it costs a lot of money and they lose a lot of money in a theorem because of these transaction fees. So Cardano was specifically started to be cheaper to use than ether and they do that by having lower transaction fees. And I have tried it and it does work. So that answers the first three questions. The next thing you need to answer is, are people actually using it? As of right now, Cardano is the tenth highest volume cryptocurrency in the world. So as of right now, they are definitely using it. There's a ton of people using it and is gathering a ton of traction right now. And there's more and more developers that are writing these apps and contracts using Cardano. And it's slowly growing at a higher, at a faster pace than a theorem is right now. So it's really nice to see. So yes, people are using Cardano. And lastly, ether transaction fees are still very high. And I see more and more people switching to Cardano or Ada because of this. And so I don't see ether getting those transaction fees down drastically anytime soon. Because of that and because of the way Cardano is set up, I do think more and more people are going to be shifting to Cardano instead of ether because of those transactions piece. And so in my opinion, I do think that more people are going to be using Cardano in the future. So that is step one, that is understanding the crypto that answers all the questions on this page. That is the real-world and a real life example of Cardano at this moment as I record this video now step two, once you've kinda check those boxes and you understand it and you do think more people are going to want it in the future. You then need to dive in a need to understand that crypto. So the big thing here is go to the website. This is usually we're going to, all of the information is going to be and usually where you're gonna find the best information you need to go to that website. You need to read every resource on that website. You need to understand how it works. You need to understand how that coin or cryptocurrency is produced. You need to understand if it is mind, you need to understand how it works and what applications that can work with. And you need to watch some videos about it. Usually there's some type of marketing video that breaks down what it is. You also need to watch the people that are criticizing it. A lot of these cryptocurrencies have problems with them. A need to be aware of those problems, even if they're not as big as other people make them out to be, you need me just be aware of them. A need to understand both sides, the pros and cons of every cryptocurrency because none of them are perfect. And then lastly, I highly recommend you try and see what other very smart people think about it. Don't ask somebody that isn't educated, it's not even worth their opinion. Focus on people that have experienced how background and have a proven track record in cryptocurrency and ask them or try and figure out and search what they think of that particular cryptocurrency or a similar cryptocurrency because it can give you a lot of gradients sites, and it can also point out some red flags. Then step 3, you need to ask yourself two questions. Once you've done the initial research and you've identified it as an opportunity, and then you've gone in, you've dove into the website and you know exactly how that cryptocurrency operates and how it works, you then need to ask yourself two questions. Will the demand for this be higher in the future? And what does the supply look like if the demand is going to be higher in the future, that should drive the price up. But if the supply is going to increase at the same rate, the price per security is never going to change. However, if the supply dwindles down like it does with B&B, and like it does with some other cryptocurrencies, that is a very good sign to that. Based on supply and demand, the price is probably going to move higher over the long-term. Now, the last step, step number four, is to decide to buy or don't buy. You've done your research, you've dove into the company and you've established whether you not, you think the supply and demand forces are going to cause the price to rise or fall. Do you think it's going to rise? You need to then compare it to the rest of your holdings, to the rest of the opportunities that you have in front of you, and then you need to decide to buy or not to buy. I will say this though, there's a lot of volatility in the cryptocurrency market. And at certain times, it can be much better to just hold cash and do nothing, then it can be to be buying cryptocurrency. So there are, you really need to be careful because if you timed the market right, you can do extremely well. And if you timed the market very wrong, you can lose a lot of money. Sometimes it's better to hold cash than cryptocurrencies. And a lot of the time it's better to hold cryptocurrencies, cash. And so my recommendation is to buy something that you believe in because you understand it don't buy something because Elon tweeted about it. Don't buy something because your friend told you about it by something because you're educated about how it works. You understand it, you understand the supply and demand behind it, and you believe in the product and the cause and the purpose behind that cryptocurrency. And that's what you should buy into, what you should build a portfolio off of. And then lastly, if the price goes down right after you buy it, you need to ask yourself, did the price just go on sale or was I wrong and do I need to get out of this and maybe there's something that I'm missing. That is the question that you need to ask yourself. And as soon as you no longer believe in the cryptocurrency, as soon as you need the money, soon as you find a better opportunity. That is when you sell as a long-term investor. In the next video, we're gonna talk about how to build a cryptocurrency portfolio. 13. Building a Portfolio: Okay guys, so in the last video we talked about how to go out and find good cryptocurrencies. In this video, we're gonna talk about how to put them together and build yourself a good diversified portfolio that can help you increase your returns and manage your risk. Now, the real question is why build a portfolio and why not just put all of your money into Bitcoin or light coin or one of these cryptocurrencies? Well, the answer is because if that specific cryptocurrency takes a big hit or completely collapses, you've just lost a very large amount of your money over night. And so we want to avoid that as much as possible. And therefore we are going to build a portfolio. Now, this science and the math is all there. And it says that that build a portfolio instead of investing into one particular stock, do better on average with better returns and lower risk. But that is not the reason why I'm telling you to build a portfolio that is just math and that's easy to comprehend the reason you should build a portfolio and not put all of your money into one specific cryptocurrency is because of stress. You do not want to wake up every single day. And after realized that BitCoins down 5% today, do I need to sell everything and get out of this at a loss? You do not want to have to deal with that. You don't want to have to manage it. And so by building a good, strong, healthy portfolio, you can achieve great returns with very low risk and that will give you less stress. That will make you happier in the long run and it will make you more money over time. That's why you should build a portfolio and not put all of your money into one particular stock or cryptocurrency. Now, how do you build a portfolio? That's what we're going to answer in this video. So the answer to this comes down to two things. It comes down to diversification and position size. Diversification refers to how connected your positions are to each other. And position size refers to if you have a 100 percent of your portfolio, how much percent are you giving to each position? That's what building a portfolio really comes down to. So here are my recommendations for building a cryptocurrency portfolio. I recommend that you buy between four and 10 crypto currencies. I recommend that you buy between 24 different types of cryptocurrency. So earlier in this course, I talked about a variety of different cryptocurrencies and what they're used for. Each of those cryptocurrencies has a number of competitors, and I would try and buy cryptocurrencies that are being used for different things and out evenly weight them. I would not put all of my money into Bitcoin and a little bit into a couple others. I would evenly wait them out so that I'm diversified and evenly balanced. Now here's an example of what my cryptocurrency portfolio looks like. For me, I'm going to be buying two transactional crypto currencies, currencies that are designed for peer-to-peer transactions without a third party, just like Bitcoin. So for me, it will be bitcoin and litecoin. Those are two that I think are the best. I also want to buy some cryptocurrencies that can be used for smart contracts and decentralized applications. For me, I'm thinking ether and Cardano are the best options, so I'd be buying those two. And then I also think there's enormous opportunity in the finance space for cryptocurrency. So I'm going to be buying two coins that are there to disrupt the finance space. Number one is x RP. This is there to disrupt currency conversions as well as bank transfers. And then finance coin. This is the one cryptocurrency that can be pretty much transacted with almost anything, which is pretty much alleviating the need for commission fees and transaction fees. So I like all six of the cryptocurrencies that are on this list. If I was building a cryptocurrency portfolio from scratch today, this is exactly where I would start. Now, at the bottom here you can see exactly how I have it broken down. So six cryptocurrencies in three different types of cryptocurrencies. So finance, smart contracts, decentralized apps, and then transactional, and then 15 percent of my portfolio would go into each and every cryptocurrency on this list, I would hold 10 percent because 6 times 15 only equals 97 gives me 10 percent left. My portfolio that holds in cash. And I would use that cash to either buy the dips or put it into my next investment. If I decide to add a seventh cryptocurrency holdings, I would use that cash to buy the seventh one if I saw a fantastic opportunity and that would just add to the diversification of my portfolio. So this is how I would set it up. I would hold six coins in three different types of coins are three different focuses. I'd put about 15% of my portfolio into each one. I would hold 10 percent in cash and I would either by the dip, if one of them drops right away, or I would go in and I would put that money into the next position or the next cryptocurrency that I think has a lot of potential now, rebalancing the portfolio once, setup the portfolio, it's six months later, the currencies have gone up and down and your portfolio, some of them weigh 20%, some of them weigh 50 per cent. When do you rebalance the portfolio? When do you adjust things and how do you do that? Well, the thing that you do and what you do to rebalance your portfolio is you set your ideal percentage that you would like for each stock. In the examples that I just used, it was 15 percent. That would be the ideal percentage that I want to get to. So when I go to rebalance my portfolio, I would go in and I would sell anything that was above 15%, and I would buy anything that was below 15 percent, that would average me down if the cryptocurrency had dropped and that would lock in profits if the cryptocurrency had increased in price. This is the way that you rebalance your portfolio. And you do this by basically buying or selling whatever your security or your cryptocurrency is and bring it up or down to that desired percentage. Now, how often should you do this and how often should you rebalance your portfolio? Well, it really depends on your personal situation and your personal preferences. You should not be doing this every day if your ideal percentage is 15% and then it moves up to 16, you should not be locking in profits and bringing it back down to 15. You do need to wait some time. So maybe do this once per quarter or once per year, or you do it when your portfolio becomes way out of weight. So anytime that maybe one of your cryptocurrencies makes its way from 15%, 30 percent. That's when you rebalance your portfolio. That makes sense to me, but you should not be rebalancing your portfolio every day or every week. That is not the right way to do it. You need to do it on a time-frame, or when you need the cash, or when the portfolio becomes out of weight. Those are the only reasons why should rebalance your portfolio. Now, in summary, you should build a portfolio so that you can better manage your risk. You can create steadier returns over the long run. And most importantly, you can reduce your stress so that you're not worried every single day when you wake up and look at your phone, you should also try and treat your crypto portfolio like you would treat a stock portfolio. They're very similar and the principles behind them are the exact same. Lastly, you do not need to hold more than 10 to 15 crypt dose in order to achieve full diversification. The limit for diversification as long as there is not a large correlation between the holdings as about 15. So anything more than 15, you're not getting any more diversification for your portfolio. You would just adding more work and more tax work and the end of the year. So please keep that in mind. Diversification like maxes out at a certain level, adding more at some point just doesn't give you any more value. So please keep that in mind, but it does give you exposure to some crazy crypto is if you want. So please keep that in mind and we will see you guys in the next lesson. 14. Trading Crypto: All right, You guys welcome to another video. In this one we're going to start talking about trading, purposely, buying and selling a little bit more short-term to generate some higher returns. Let's jump right in because we got a lot to cover. Okay, So when I say trading, I am talking about buying a cryptocurrency with a plan to sell a cryptocurrency when we hit a certain level or if our plan does not go with the way we want, we want to exit that position as early as possible. Now there's a variety of different ways to trade. Some people like to day trade and get in and out within a couple of minutes or within the same day. Some people like to kinda hold overnight or a couple of days or even a couple of weeks. We are going to talk about all of that and most of the principles are the exact same. And this is going to be very similar to trading a stock or a forex, or pretty much anything else where you can plot the price on a chart. We're going to be doing a lot of technical analysis. That is the term for looking at and analyzing the price action on a chart. And that's what we're going to be focusing on over the next few videos. I'm going to give you the tools to piece that together so that we can start to build a strategy and get you day trading, swing trading on your own. Now the trading platform that we're going to use is the same platform that we have talked about throughout this entire course. It is finance once again. So what's nice about finances that they have a full on trading platform. They have a wet broker that's easy to use where you can send and receive your cryptocurrency. And then they also have the mobile app. So that is the reason that I chose to use finance for this course. And I really like to trading platform, but I know that as we begin or somebody that may have never looked at a trading platform like this. It looks like there's a lot going on, on this picture right now. So what we're gonna do in this video and over the next few videos is walk you through the tools that finance gives us so that we can better analyze what is going on with these cryptocurrencies and we can better justify our entry and exit points. So we're not going to dive into a chart like this right away. We're going to slowly pick it apart and I'm going to show you what the different pieces mean, starting with the currency pairs, and how we understand which chart we are looking at and which cryptocurrencies we're trading. So cryptocurrencies trade in something that is called a currency pair. The reason that they do that is because when you go out and buy Bitcoin, you have to buy it with something. You are trading one type of currency, whether it's Canadian or US dollars, or whether it's a theorem or another cryptocurrency, there's something on the other side of that transaction that you are using to buy Bitcoin or B&B or whatever it is. And so in reality, when you go to the stock market and you buy shares of Apple, you're buying shares of Apple with US dollars. There's actually a pair there between the stalk and the currency that you are using to buy it. So realistically you're buying Apple USD. Same thing happens when you're buying cryptocurrency. You could be buying Bitcoin with Canadian dollars, that would be BTC and CAD. For CAD, you could be buying a theorem with US dollars. You could be buying BTC with a theorem. So all of these cryptocurrencies are represented in a pair. And it's really important that you understand how to read these currency pairs, because that is what dictates what chart you're looking at. So to give you some examples here we have B&B slash BTC. This would be the finance coin and the Bitcoin. We also have Bitcoin and us DT. This would be bitcoin and tether. We also have dot, which is polka dot and B and B, which is the finance coin. And so. All of these currency pairs are represented in pairs with two different currencies. And the first currency is basically what you're buying. And the second currency is what you are buying it width. And so in the case where you see that BTC USD is trading at $58 thousand. This represents price to buy one Bitcoin in the form of us DT or tether will cost you 58 thousand units of tether. So when we go back to our first example there and we look at this trading platform that was kinda complicated. We go to the top left-hand corner, and you can see that in this chart it is represented and we're buying BTC with us DT. So for us to buy one Bitcoin, it would cost us currently right now, 56,849 units of you SDT or tether. Now you can click the drop down menu here and you can go through a bunch of different currency pairs and you can trade whatever you want. But you need to understand that this is super important because you don't have any tether right now. You can't buy the Bitcoin. So you need to make sure that whatever you're trading here, you fully understand that you are trying to buy Bitcoin using tether. And it goes the exact same way for any other currency pair that you are looking at. Now, That is step 1 of understanding what is on this screen. Step 2 of understanding this, what is on this screen is understanding the price. And the price on this screen is represented by these basically green and red blocks. And those green and red blocks are referred to as candles. That's what we'd like to call them in the trading community. Now, the reason that we use candles instead of the line chart that you would see on Yahoo Finance or Robinhood or well, simple, where it's literally just one line that represents the price going across the screen. The reason we don't use that methodology is because it gives you very limited data about what happened to the price in between where they're measuring it. So for instance, that line chart that you see if it represents one year, they're probably only updating that line every single week. And so if the price all of a sudden drops down by 50 percent and increases by a 100 percent, that will not be reflected in the line chart. However, if you use candlesticks, it will always be captured. It will always be easily readable and it will always be available because the candlesticks represent the highs and lows of where the stock traded in between the period as well. And so just a brief overview of candlesticks. These candlesticks can represent any time period. They can represent one minute, one day, one year, one week. They can represent whatever you want it to be. He just kinda zoom in and out of the chart. And so this candlestick here, let's say that these all represent one day for most of the examples that I use in this course, they'll usually represent one day, That's the photo, and that's what this screenshot is. All of these candlesticks represent one day. And so let's just say that these represent one day. What this green candlestick represents is that the stock opened right here, let's call it $10. It opened at $10. The stock fell at some point throughout the day. It felt to a low. That was right here, let's call this $5. And then at some point throughout the day, it also ran up to a high, let's call it right here, around $20. And then at the end of the day it closed at 15, which is this level right here. And so it opened at ten and it closed at 15. That means the stock went up throughout the day and that's why it's a green candle. But throughout the day before it closed and after it opened, the stock also ran up to a high of $20 and a low of $5. And that's what these wicks represent here. So they'll Candle has a wick on the top and the bottom and the Wix represent where the stock price went throughout the day. But where the candlestick closes, that represents where the cryptocurrency closed for the day. 15. Candle Charts: All right, You guys, now that you understand currency pairs and how to choose the chart that you want, it's time to start looking at the price and start understanding how to read the price and the price history. Let's jump right in. Okay, So when you look at a stock chart, a currency chart of forex chart, pretty much any type of price chart. You're going to see two different styles. The first one here is the line chart on the left, and the second one is called a candle chart that someone here on the right. Now we're going to use a candle chart because it gives us more information about the price. But if you use a mobile application like Coinbase, well, simple or Robinhood, they're pretty much only going to give you the line chart. And it's a little bit limited in the information that you get from this line chart. Let me show you why. When you use a candle chart, you get more information out of it. So let's use this green candle on the left here. And let's say that it opened at $10 right here. So it opens at $10. This is where the stock started trading, let's say at the beginning of the day, this black line here that goes to the low, this represents the lowest point that the stock traded throughout the day. The same thing on the top side here, this kind of wick, that candle wick at the top of this green bar represents the high that the stock traded throughout the day. So it opened at $10, it dropped down to, let's say $5 and it rose up to, let's say $20. That's what those two weeks represent. And then where this kind of green bar ends right here, this close the top of the green bar that represents where the stock closed at the end of that period. In this case, our period represents one day. So this green candle here would represent that the stock opened at $10. It dropped to five at some point throughout the day. It rose to $20 at some point throughout the day, and it ended up closing at $5 when the candle is green, it means that it opened lower and it closed higher. However, when the candle is red, it means the exact opposite. It means that the candle opened here and it closed lower. The Wix still represent the same thing. The Whigs represent that the price action when this high and this low throughout the period. But the fact that it is red means that it closed lower than it had opened. If the close was higher than the open, it would have been green. Now, when you put this on a chart, this is what it looks like. So this is the Bitcoin USD one day candle over one year. And so each black and red line here represents the price of Bitcoin in US dollars one day. Now as you can see, it looks a little bit crammed up here because we're looking at 365 days worth of candles on one tiny little chart here. And so what we can do is we can change the time period that each candle represents. So instead of each candle here representing one day, we can actually expand it so that each candle represents one week. And this is what that chart looks like. As you can see, it's the exact same pattern over the course of the year. However, you can very clearly see the open and the close and the bottom and the top candle wick in every single candle, because now we have more space between the candles and we can see very, very clearly. You can also zoom in very closely if you wanted to see what the cryptocurrency is doing at this very moment. So as you can see here, this is actually each candle representing one hour over a five-day period. So this is the price of Bitcoin over the last five days, and each candle represents one hour. So as you can see, we got as high as $64 thousand US and then it dropped to as low as $53 thousand US. And it is slowly starting to make its way back up. And so each candle on this chart represents one hour. And as you can see, cryptocurrency is fairly volatile. We caught this on a pretty good day because bitcoin had a big fall off yesterday, I think it was and actually dropped from $59 thousand US to a low of 55 thousand dollars US in a matter of one hour. That's about an 8% change in the value of Bitcoin in one hour, it declined. So really, really drastic decline and the ability to look at this on a candle chart is much more valuable because during that hour, we can see that throughout that hour, the price actually fell to a low of $53 thousand. However, if this was a line chart, we would not see this at all. We would not see that the price fell to 53000. We would just see where the price closed, eh, so we would not have any of this extra information that we can pull from a candle chart. Now, in summary, these candles represent the price action of the cryptocurrency. We use a candle chart instead of a line chart because it gives us more information about what happened to the price between the open and the close. That's why we use a candle chart because it gives us more information. Now, these candles and the patterns that they form can help us understand the different levels of supply and demand. As you can see, everything circles back to supply and demand. So we're doing, is we're trying to use these tools and this platform that we have to try and see where the supply and demand is, at what level is there going to be higher demand than supply? Because that could indicate that the price is going to go up. And so what we're gonna do over the next two videos is start to use these candles to identify patterns within the chart so that we can find good entry and exit opportunities by identifying the supply and demand levels. That's what we're going to focus on, is identifying supply and demand so that we can find good entry and exit opportunities. We can capitalize and we can make some quick traits to make some quick money. So follow along, I'm really excited to share this with you. This is actually my favorite part of the course and my favorite part of trading and investing. So I'm really excited to share this with you and I'll talk to you soon in the next video. 16. Trend Lines: All right, You guys, welcome to another lesson. In this video, we're going to start diving deep into the world of technical analysis, are going to start putting trend lines on our price charts. Now that you know what a candlestick chart looks like, Let's dive right in. Okay, so a trend line basically means drawing a line on a price chart to represent levels of supply and demand. Everything comes back to supply and demand. That is what dictates the price on the market and on the exchange, and what you can cash out for. So that's what we're focused on now, when we draw a trend line, what we're trying to represent is a specific level of supply or a specific level of demand. Now when I say supply and demand, what that is reflected as on the chart is the price bouncing off the same level multiple times. Now when we see that on a chart, I like to say that that stock has support at that level. Let's say that using this example here, let's say that this is $50 here down on the bottom and a $100 here on the top. You can see that the price starts out at a $100 and it comes back down to 50, and then it comes right back up to a $100 before coming right back down to 50. That means that at a $100, we have some very clear resistance. And it means that there is absolutely no demand, anything higher than $100, nobody is willing to pay more than $100 for this share. And because of that, the stock then comes back down to $50. And at $50, there's actually a lot of people that are willing to buy those shares. And so the price does not fall below $50. And because there's so many people that want to buy the shares at $50, the price actually starts to go back up until again in this scenario, you can see that it goes back up to a $100 and nobody's willing to pay more than a $100. And so it starts to sell off again before it comes back down to $50. And then it starts to go back up because there is levels of supply and demand at levels of $50. There is not very much supply and there's a lot of demand for people that c value in this cryptocurrency at $50. But however, when it comes to a $100, everybody wants to cash out. Everybody wants to get rid of their shares and nobody is willing to buy at a 101102103 and drive that price up. So that is what we're seeing here and that is what we are trying to point out and represent when we draw trend lines on a price chart. Now, you will notice that I use the term support and resistance a lot that just because, that's just because it makes a whole lot more sense when you look at the price chart to say that the price has support FFT dollars and it has resistance out of a $100. What I mean by that is supply and demand levels, but support and resistance just makes more sense when you look at this star charts. So that's the terminology that I use to describe the star charts when I'm talking to people now. Now these price levels and areas of support and resistance and these trend lines can be horizontal, but they can also go diagonal. In this example here, the price is trading within a channel. As you can see, we have multiple different highs for the stock price that are coming through here. And all we did was just connect the highs with a very simple straight line. We also have a variety of different laws that are established on the price chart here. And as you can see, all we did is connect those lows. With a straight line. Those lines represent specific levels of supply and demand as the cryptocurrency is going in a specific direction, it could be going up, it could be going down. It doesn't really matter when I'm trying to show you is that as soon as you see the price bouncing off of support or getting rejected by resistance in a pattern that you can connect the dots in a straight line that indicates an area and a trend of supply and demand. And we use our trend lines to highlight that so that we can be prepared for it when the stock next approaches support or when it next approaches resistance because those represent buying and selling opportunities. And so when you notice this and when you can point out that there is a trend line and that there's an area of supply or demand that represents an opportunity to buy or sell the security or the cryptocurrency, hopefully out of profit. And so you want to buy the cryptocurrencies and you want to buy these different securities when the price is coming down to a key level of support, it bottoms out at support and then it starts to correct itself. You want to buy in on the other side up, you do not want to buy in at the very bottom because you're never going to be able to time it perfectly. It is not going to happen. Do not try and buy at the bottom. You need to wait for it to settle out, and you need to wait for it to start to come back up. That is going to be your confirmation that yes, the cryptocurrency is starting to move back up in the other direction. That is when you want to make your entry into the position, that is when you want to buy in, but you have to wait for confirmation of a trend, change, of a bounce off of support of an area of increased demand that is driving the cryptocurrency up. You do not want to buy in at the very bottom because you're never going to be able to time it correctly. You want to wait until you have found support, you have found momentum, and the currency is starting to move back up. That is when you want to buy in. I can't emphasize that enough. Now when you want to sell, you want to sell out when the cryptocurrency is starting to approach previous levels of resistance. In this case, you could have bought it 50, and you may want to sell around 80, 90, and 95. You may not want to hold all the way up to 100 because if it doesn't get to 100, you may have missed out on an excellent opportunity to lock in some profits because you've got gradients. So what you wanna do is sell just before the cryptocurrency gets to previous levels of resistance. And so let's just look at an example we're going to go through and we're actually gonna do this right now. But this is a screenshot of the Bitcoin USD T chart that I took from today, April 18th, 2021. As I make this video, this is a real analysis. And what we're gonna do right now is I'm just going to draw this out for you. So I'm gonna go into finance right now and I'm going to get rid of these two trend lines and I'm going to show you how to do this. So this is Bitcoin USD, as you can see, 56778 right now. And what we're gonna do is we're going to go to the left-hand side here, and we're going to click on this button right here. This is the trend line button and it's going to come up and it's going to allow me to draw a let, a trend line. And all I'm going to do is connect the three lows that are right here. So as you can see, we have a low that was established rate here on February 28th. We have another load, those established right here on March 25th. And as of right now yesterday, bitcoin has a massive drop, but today it's having a little bit of a rebound. So therefore, I'm saying that it has established another low. And so therefore I've drawn my trend line. And if I want to change the trend line. I can change the thickness of it. I can change it to whatever I want. I have full control over it, but I am identifying that bitcoin has a level of support on this kinda diagonal trend line right here. And so I'm expecting Bitcoin to actually bounce off of this trend line because the last two times that it came to this trend line, it bounced off as well. Now let's draw the top trend line because this one is also important. So I'm gonna click on that button again. It's going to give me a new line. And all I'm gonna do is try and keep this line parallel with the other line. So because the first trend line was on an angle, what I wanna do here is try and keep this one pretty much parallel with it. And so what I'm doing here is just trying to keep it pretty much by hand just as parallel as possible. And now what I'm expecting from Bitcoin is one of two things. Bitcoin is either going to fall through this level of support, meaning that there's not enough demand to hold that price steady. And Bitcoin is either going to fall below 56 thousand 55000 and it might tumble a little bit further. Or if Bitcoin can hold up at kind of 56,700. If it can't hold up there for a few hours and then start to move higher. That is going to be confirmation that the Bitcoin price is bouncing off of support. And that is going to be an entry for me to get into Bitcoin. If that happens while I'm filming this course, I will definitely get into it and I will film that live. But as of right now, bitcoin is currently trading at the bottom of the channel. It is currently trading directly on support. And what I am waiting for is for Bitcoin to start to move higher so that I can tell myself it has bounced off of support. We have confirmation. Bitcoin is starting to move in the other direction than it has over the last three or four days. And we're starting to do much better. That is going to be a signal that I may want to consider an entry point into Bitcoin. Okay, now we're back in the PowerPoint and there's just a couple of things that I want to cover. Number one is that trend lines represent areas of support and resistance. You are drawing a very thin trend line. But in reality that trend line represents an area. It should really be our rectangle that probably makes up five to 10 percent of the price because the price is never going to bounce directly off that trend line is going to break through by 3% and come back down. It's going to go up and go to 98% and come back down. It has never gone to just bounce directly off that trend line. So you need to understand that it is never going to be perfect. And that trend line is only there to represent an area probably of plus or minus five or 10 percent of where you should expect some supply or demand or support and resistance. And so that's what you need to understand about trend lines. And you draw the trend line by connecting three highs or three lows. And if it is on an angle, you draw a channel by connecting one of them to three highs are three lows and then draw the parallel channel connecting the other highs or lows. And so that is what you need to know about trend lines. And the buy signals that come from your trend lines are very, very strong by signals you want to buy when the price is bouncing off of support. Or if you're a training within a channel that is horizontal and you break through resistance. That is also a buy signal that we're gonna talk about in a little bit more detail. But the big thing that you need to think about before you get into these positions is that you need to wait for confirmation that one of these two things has happened. And when I say confirmation, I mean, not just five seconds where it has bounced off support or five seconds where it has broke out. I mean, a couple of minutes or a couple of hours or just enough that you feel very confident that the trend has actually changed or that we've actually broken through that specific level of support or resistance. And so you need to make sure that you are very confident in those positions because that confirmation point is a little bit different for everybody. Now, your cell signals and let's say you get into a position. When do you need to get out? Well, you need to get out. If the price gets rejected at resistance, if you bounce off support, you get into the position and it's coming out to resistance. And it looks like it's about to get rejected or it's starting to tail off, That's when you get out of the position. The other point where you may want to consider selling that position is if you get in and you think the price is bouncing off a support, and then all of a sudden the price drops below support. That is when you should get out of the position, your analysis was wrong, that Trajan's didn't work out. It happens some of the time. You need to accept that and you just need to convert that money into some other type of cryptocurrency that isn't falling or converted into a stable coin like Tether, which is us DT. And so this is the example I was talking about before, where if you buy in and the price drops right away, if you're a trader, you need to get out of that because you need to put that money into something else. If you are a long-term investor, it's kinda like that cryptocurrency just went on sale because you can buy more at a lower price. And so that's why you need to decide if you're a trader or investor early on. Because when the price drops, That's where the difference comes in and that's where your strategy and your preparation really come in. So it's super, super important. Now, in summary, trend lines are probably one of the strongest signals. That's why I started with this. But what you need to understand is that in order to buy or sell a cryptocurrency, well, you need to do is stack the different factors that you're looking at. So if you like that, It's bouncing off support right now and you like the news that's coming out, like the cryptocurrency on its own. And you think there's a couple more catalysts that are coming down the pipeline, then that should give you enough confidence to buy the cryptocurrency. But if you see a bounce off support and everything else looks terrible, then you should not be buying that. And so what you need to do is weigh out these different factors. And then when you get to the point that there's enough elevating factors to convince you to buy the cryptocurrency without any major red flags. That's when you should execute the position. That's when you get into it. But in the next few videos, I'm going to go through a couple more lessons that are getting teach you a couple more tools and indicators that you can use to get some of those buy and sell signals. So stay tuned and let's keep going. 17. Moving Averages: All right, You guys welcome to another video. In this lesson we're going to talk about the moving average. This is an indicator that you can apply to your price chart to help you try and identify good areas to buy and sell specific crypto currencies, let's dive right in the moving average. So this is the chart of the Bitcoin. You SDT, the same example that we've been looking at so far. And you can see that this green line right here, this is actually the moving average indicator, the moving average that I've applied to this chart. And this green line represents the average price over a given number of candlesticks. You can see in the top left-hand corner here you can see MA, that stands for moving average and that 9 there represents how many candlesticks the moving average will represent. And so in this case, just in this scenario, I have it set to nine. And that way it can lay upon our price chart, this green line. They'll basically show us the average price over the last nine days. So as we sit today, the current price is right here, but the moving average that represents the trading price of the last nine days is slightly higher, so we're below our moving average right now. And so what we're gonna do is use the moving average to identify signals to buy and sell specific cryptocurrencies. And so the bicycle is when the price closes above the moving average. What I mean by close is that that candlestick finishes and the next one opens above the green line or above the moving average, the cell signal is one, the price closes below the moving average. So if our green line is here and the next candle opens below the moving average, that is a sell signal. Now, let's just take a quick look through here. So again, as you can see, I have it set to a nine candle moving average. So the green line represents the price over the last nine candles. Each candle in this example represents one day. So we're currently looking at a nine day moving average. Now, as you can see here right here, the price breaks above the green line here and the next candle opens above the green line. That is our buy signal, that is the price crossing above the moving average. Cell signal comes when the price closes below the moving average. And you can see that we basically went all the way up right here, and then we came down, we had this big red candle here and the price closed below the moving average. And so this is going to be our cell signal. And if you had bought in when it closed above the moving average, you would have got Android around 32000, 500. And if you had closed out at the next candle right here, you would have got out around 47,500. So you would have made about $15 thousand on the trade. You would have made about 50 percent just by using the moving average. And so this is why we use the moving average because sometimes it gives us very clear indications of where to buy and sell. Now it does not always give us very clear indications. Sometimes it doesn't give us any indication at all. And so you need to understand that because here is another example of a less obvious indication of where to buy and sell. You can see that the price closed above the moving average right here, and then it close below the moving average right here. This would've been a much smaller profits. So as you can see, they don't always work out. And if you extend it even further, you can see that the price is basically going back and forth between the moving average right here. And so in here, we're not getting any signal at all. There's just, it's too choppy. We're not getting anything out of this. But back here, this was a very clear by signal. This was a very clear cell signal. This is kind of intermediate, kind of intermediate. And then writing here is just too choppy to pull anything out of. Try and say that you're buying or selling based on the moving average here, you're just tearing at straws right there. So stay away from the choppy trading you want to look for are very clear buy and sell signals. Now, there are a couple of things to know. Number one is that you should change the timeframe of the moving average to whatever will give you the clearest buy and sell signals. So if you're a swing trader and you're looking at the daily chart, or if you're a day trader and you're looking at the one-minute or five-minute chart, you need to adjust that moving average to the point that the chart you're looking at gives you the most clear buy and sell signals. That's the goal here. So play with that time frame. Sometimes it should be shorter than nine, sometimes it should be much longer than nine. You need to adjust it depending on the cryptocurrency you are trading because this is going to be different for every single coin. What you were just looking for is adjusting that moving average to the point that you can start to identify clear buy and sell signals by the price crossing above or below that moving average. Now, one last thing to note is that this will not work when the crypto is trading sideways or when the crypto is trading. Very choppy. What we're looking for is a moving average to be here and the price to very clearly crossed through it. If we're not seeing that and we're seeing the price kinda go up and down. That moving average is not going to give you any signals. It's not going to give you anything. You need to ignore it until we see a new clear direction established. Now, let's do a quick walk-through of what this looks like and how to put it onto our chart. And so this is the big Coin USD T chart on finance. So Bitcoin and tether, that's what we're looking at here. Tether is the stable coin that is pegged to the US dollar. So this is basically Bitcoin to US dollar, but everything is in crypto currencies. And again, we're on the finance platform now as you can see, we have drawn our trend lines right here, and this is the live bitcoin prices isn't set up or anything. This is live analysis as I am making this course. So everything here is real. I don't actually know what's going to happen. I'm just drawing trend lines and the price of Bitcoin, It looks like it's breaking through our trend line right now. We will see maybe it holds up, maybe it comes around, but as of right now, it doesn't look very good. And so what we wanna do in this example is apply a trend line to this chart. So the first thing that we're gonna do is right-click and we're going to click on Insert indicator. It's going to bring up this search thing here. And then we're going to type on moving average. When we hit moving average is going to bring up this blue line right here. But I don't really like the blue line because it's kinda difficult to see. So I'm going to click on the Settings and I'm going to click on the style and I'm going to change the color to green. And I'm going to change the thickness to the thickest that it can be. And then I'm gonna go to inputs and I'm going to leave it at nine. That was the example that we use. So we'll just leave it at that. And that is how you apply moving average. So you have to do is right-click grateful and add indicator type in moving average, select that indicator and then you can play with the settings to adjust the color and adjust the timeframe as of right now I have it set for nine days. 18. MACD: Okay, you guys, now that you understand how to use the moving average, we're going to add one more indicator to your tool belt. This one is called the MAC D and this dance from moving average convergence divergence. Now I know that sounds like a lot, but it's actually a pretty simple indicator that we use to identify buy and sell signals in the price chart. And so here's the same example that we've used throughout the entire course. And on the bottom here I've put on the Mac D indicator. It is represented by these green and red lines. And in this video, I'm going to walk you through what these lines mean, how to read it and how to apply it to your trading. So let's jump right in the Mac D indicator is very simply an algorithm, uses two different moving averages, as well as the volume to produce a chart. This is the chart here on the bottom and the moving averages as well as the volume. The volume represents how many cryptocurrencies or how many coins or tokens are traded on that given day, and it uses that information to produce this chart. On this chart you have two lines. One of them is red, this is referred to as the signal line. The other one is green, and this is referred to as the Mac D line. For this video, I'm going to call them the red and the green lines just because it's a little bit simpler for explaining. And so what we're looking for is we're looking at these two lines and we're looking for when they cross over, when they crossover. That represents our buy and sell signals. And as you can see in this chart, they cross over several times. Once right here, again, right here And again right here. Some very clear hard crossovers of those lines. That's what we're looking for because that represents our buy and sell signals now are by signal is going to be one. The green MAC D line crosses above the red signal line. I've represented that here with these green bars. As you can see, the green line crosses above the red line. I've done another one right here. When the green line crosses above the red line, that represents a buy signal from the Mac D indicator, a sell signal as one. The green MAC D line crosses below the red signal line. I've represented that here with some red bars. And as you can see, the green line crosses below the red line. The green line crosses below the red line. Those represent cell signals. The orange bars here represent the difference between the green and the red line and whether or not the green or red line is above or below. You can see between these two bars here, the green line is above the red line the entire way through. And in between these two bars here, the green line is below the red bar of the entire way through, and the orange bars are on the bottom side of the 0 line. And so that's how you understand the Mac D, we're looking at these two lines and the orange bars are the histogram in the middle here represents the difference between those two lines so that you can better see it and better understand it. Now, when we extend this chart and we extend these bars to the rest of the price chart. This is what it looks like. So let's say you were holding Bitcoin, you SDT at the time when we enter this position, when we enter this chart, that means that you would have continued to hold all the way up here until the green line cross below the red line. And you would've sold out right here. That would have been an excellent place to exit because the price continued to fall. And then you would have bought back in when the green line cross above the red line. Which was right here, right around 32000, you would have held it from this point on until the green line cross below the red line, which would have been right here, and you would have sold out at around $48 thousand. You would have done extremely well. You would have got back in when the green line crossed above the red line, that would have been right here and you would've sold out for a smaller profit, in this case, an over the last little while it's being a little bit choppy. So your Mac D has been kind of going back and forth and it's been a little bit tough to get clear signals. But as of recently, the green line has crossed below the red line and that indicates a sell signal. So yes, we are approaching support, which is definitely something that's really nice to see. It looks like we're starting to break through support, which is a bit of a red flag. Mac D is showing a big cell signal at the moment, so absolute right now, I would not recommend buying Bitcoin you SDT. Now, a couple of things that you need to know about the MAC D is that it will not always be perfect if the stock is trading sideways or if the stock is trading pretty choppy from day-to-day. And what I mean by choppy is that it's opening way higher, it's closing way lower. And it's kind of dramatic that those price swings, That's what I'm referring to as choppy trading. And in those cases, the moving averages and the MAC D don't work quite as well. Or at least you need to put them on larger timeframes. Next thing is the MAC D is just used to give you a signal you should never be trading off of strictly the Mac D or off of strictly the moving average, where you should be focusing on is looking at the price action, trying to identify an opportunity and then using the moving average and the MAC D to justify and validate your hypothesis and your prediction about what is going to happen and use them to give you confidence to enter and exit a trait. That's how you should be using the Mac D. Okay, now let's do a quick example of how to add this to your price chart using finance. So this is the example that we've been looking at the entire time. Again, all I'm gonna do is right-click and I'm going to click on Insert indicator. And then all we're gonna do is type in MACD. And as you can see, it comes up right there. And now finance automatically gives it to you in like this red and blue line. And I hate these colors because I can hardly see them. So I'm gonna go over here and I'm going to click on Settings. And then I'm going to change the histogram to orange and change the MAC D line to green. And I'm going to change the signal line, will actually leave it at red, but I want to make everything a little bit thicker so that I can just more easily see it. There you go. That is exactly how you set up the Mac D for the example that we just looked at. And again, you can either hide it just like that. You can change all of the settings by clicking on that box right there. Or you can just get rid of it if you just want to exit right there. And so what's cool about this though, is that when you start to look at the MAC D and our moving average sum of the signals are starting to line up. We've got a sell signal from the Mac D. We've also got the price closing below the moving average. Both of these are cell signals and that's how you start to build confidence in your entry and exits is when you have an hypothesis and a prediction about what's going to happen with the cryptocurrency and then your indicators confirm it. That's your justification to get in and out. We'll see you in the next video. 19. Volume: All right, You guys, now that you understand how to use the Mac D, it is time to add one more indicator to our tool belt. In this video, we're gonna talk about volume. Now, volume represents the amount of coins traded during that candle. And so as you can see here, we're looking at BTC Bitcoin, you SDT. So Bitcoin compared to tether on the bottom you can see these green and red, basically bars that have been added to the chart. This represents the volume which represents the amount of coins traded on a given day. Now the reason we use volume is because it's a good representation of the demand. If you can see the volume increasing and a bunch of people are moving into this cryptocurrency, that's an increase in demand. And as we know, demand is 1.5 of the equation that makes the price go up. And so when we look at volume, what we're looking for is a trend in volume. Is the volume increasing or is the volume decreasing over time? That's what we're trying to figure out. Because if the price is moving higher and the volume continues to increase, that is a sign that the price will probably continue to move higher. Now, let me repeat that. If the price is moving higher and volume continues to move higher, it means that the price will probably continue to move higher. However, if the price is moving higher and the volume starts to tail off or decrease, that is an indication that we're probably running out of demand and that the price will probably not continue to move higher. And so we're looking for is to identify whether the volume is increasing or decreasing. And if it is increasing, that is a confirmation of the trend that we're seeing in the chart, whether that trend is positive or negative. Now, here's an example of Dogecoin USDA. And I use this as an example because it was very, very easy to identify this run-up using the volume. And so what I want to point out here is that first of all, we are looking at the candle chart on a one hour candle, you can see that indication right here. So each of these candles represents one hour. And as you can see in the first kind of 2030 hours of this chart, the volume was actually decreasing. It was declining. The cryptocurrency was moving sideways. And in the last sort of five or 10 hours before the big run up here, there was very, very little volume that is super important to realize is that there was very little volume. And then in a matter of about five hours, the volume absolutely spiked. And so did the price, the price of Dogecoin spikes because the volume spiked because there's more people looking at DOJ because there's higher demand and that is forcing the price up. That is what is happening, and that is what is being indicated by an increase in volume. That is why we are watching for increasing volume. And that's why we're using it as a signal to get into a cryptocurrency. So in this case, we see a dramatic increase in volume over the course of three to five hours right here. We also see the price start to move higher. We see the price moving higher. We see an increase in volume that is an indication that the price is probably going to continue to move higher. And that is exactly what happened. We saw a small dip, but right after that we saw an even higher increase in volume. We saw another small dip and after that, we saw an all time high for volume for this chart, which is absolutely amazing. And as you can see, the price continued to run up. We saw increased volume, which represented demand. And because there was higher demand, people were willing to buy at higher and higher prices. And that is what drove the market price of Dogecoin from, as you can see here, like 15 cents all the way to 37 cents, it more than doubled and a matter of a couple of hours. And that is very, very easy to see when you look at the volume. Now, as you can see, we set the high for the volume for this hour right here. And then the volume started to dramatically fall off. The volume started to fall off. That's because there was lowering and lowering demand for Dogecoin. And when there's less demand, it means that people can buy and sell at lower and lower prices. And that is what drove the price down. And you can see that as the volume declines, the price actually declined to rate here. So this is a very clear indication of a massive runup that you could have noticed by looking at the volume. And then as soon as that volume starts to tail off right here, you could have got out of the position and you could a locked in your profits. Now, obviously, There's going to be ups and downs like this throughout the way. That's all you have to use a variety of different indicators to layer on top of each other and establish enough confidence to get in and out of the position. So a couple of quick things to know about volume number one, volume is a great way to gauge demand. That's why we look at volume. Because if you see volume skyrocket, that's probably because there's an increased demand and that's usually going to drive the price higher. Or let's say some bad news comes out and people are panicking. It could be increased volume because people are losing their mind and trying to get out of the security. So you need to be very careful. It definitely goes both ways. Secondly, is a good news and high volume is a recipe for high prices. So if you see a couple of good things come out, a couple of catalysts, some Elance tweeting about dogecoin. You see a couple of good things come out and then you see an increase in volume that is too massive signs that you may want to take a position in that cryptocurrency. And lastly, volume is a great way to identify a good breakout of resistance. So if you see a cryptocurrency that is trading within a trend channel, and then all of a sudden it gets to the top and the volume starts to increase. That could be an indication that the cryptocurrency is breaking out of that trend channel. That is how you validate a breakout and that is what you look for when a stock is breaking through, a level of resistance is an increase in volume because that represents an increase in demand which usually drives the price higher, will see you guys in the next video. 20. Trading Strategy: All right, you guys, this is the lesson and this is the video that we have all been waiting for. It is time to take everything that we have now learned and turn it into a trading strategy. That's what we're gonna do in this video. So you're trading strategy. These are the seven things that you need to think about as you sit down at your computer and as you get into this, you need to look at the chart and you need to ask yourself number 1, do you understand what you are looking at? There's a lot of different coins out there. There's a lot of different types. There's stable coins, there's transaction coins, There's coins that are used for currency. So you need to make sure that you understand what chart you are looking at and you need to understand what those transactions and what those cryptocurrencies are that you're looking at. You also need to make sure that you have enough cryptocurrency in your wallet to be able to transact with that particular cryptocurrency pair. Secondly, you need to then identify levels of support and resistance. Once you know what chart you're looking at, try and draw some lines on there to identify levels of support and resistance. Thirdly is set up your moving average, the moving average on there and play with different timeframes so that you can get very clear buy and sell signals. I used an example of a nine candlestick moving average. You can change that and narrow it down to five or expanded up to 15, whatever is going to give you the most clear signals. That's what you want to set it up as number 4 is, you need to watch that cryptocurrency. It's gonna take some time and you need to be patient, but you need to watch it and you want to watch for it to bounce off of support or breakthrough resistance. When I say bounce off of support, when I'm referring to is the price action continually bouncing off the same price level. When I'm referring to a breakout, what I'm referring to is the price continually getting rejected at the same price level. And then finally breaking through that specific price level when you see one of those two opportunities happening. That is, when it is time to enter the cryptocurrency, what you do need to do though, is confirm the move with your indicator. So once you see one of those two patterns forming, what you wanna do is confirm that move with your indicator. So if you think it's a good time to buy based on the price action, what you then want to do is go to your moving average, your Mac D and your volume to see am I getting by signals from these indicators to confirm my hypothesis and my position? If you have full confirmation that price action continues and you're feeling confident about that position. That's when it's time to enter the cryptocurrency. And then you need to sell that position when you approach the next level of resistance or when your indicators begin to turn into cell signals. Now just as a quick and easy checklist before you enter any position. Here's what you should ask yourself. Number 1 is, do I understand what I am treating? Do I fully understand what chart I'm looking at and what I need to execute this trade. Number two is has the price bounced off a support or broke through resistance? And number three is, do I have confirmation? You need to make sure that if prices coming down to support, you wait for it to hit support. If it consolidates, you wait that out and you need to buy in when the price starts to go back up, you do not want to buy in as soon as it hits support. You want to wait for the price to start to go back up. Same thing with when the price starts to hit resistance. You want to make a clean break through resistance. You want to buy it on the clean break. You do not want to get in as soon as it approaches resistance because if it tails off or it gets rejected, you have now lost money, so we want to wait for confirmation. And lastly, do your indicators show by signals to all of your indicators, the Mac D, the volume and your moving average. All show by signals because when you get everything to line up, and that is one magic happens, that's when you make them money, and that's when you should enter the position. And here is an example of that exact situation. So this is Bitcoin us DT. So you SDT is the stablecoin tied to the US dollar. So pretty much what you're looking at here is the Bitcoin chart compared to the US dollar. And this is really exciting because as you'll note, this is the 20000 dollar level. Here are eight here, and this is back in December, January of 2021. And we basically hit $20 thousand here and we've come back down. One is basically happened once right here, and it happened for about six or seven days. We've come back down and we've basically got a trend line forming right here. So I think we've got support along this trend line. I think we've got resistance right here at 20000. And if you remember back in 2017, Bitcoin hit a high of $20 thousand US. So we have some previous resistance at $20 thousand US, the price came back down to around three or $4 thousand US. And now it has come all the way back up to $20 thousand US, we are running into some resistance right here at the beginning of December, the price comes back down to around $18 thousand USD t. And then all of a sudden we have three or four really nice days and we have a breakout of the previous resistance at $20 thousand. It was previous resistance because the price got rejected here in December. Also got rejected a couple years back in 2017, right, at this 20000 level. So this is really, really, really important because the first part of our equation has just happened. We have just had a clean break out of previous resistance, and so that is absolutely crucial. Now when we go to our indicators, you can see that over the last few days we had just crossed through our moving average and we're still above our moving average. So that's really nice to see. That's a buy signal from our moving average. You can also see that over the last two days, we have seen increasing volume. And today, the day that we are breaking out, we have the highest volume that we have had in the last kinda two to three weeks. So we have increasing volume over the last at least 48 hours. So this is a really good sign. It's nothing crazy. It's not dramatic volume like what we've seen before. But when you compare this candle to the two or three candles before it, we have increasing volume. And then when you go to our last indicator right here, the Mac D, you can see that our green line is crossing above our red line. And that is a very clear by signal. And so when you look at everything that's happening on this chart, you have a major breakout of the 20000 level that acted as previous resistance and we're blowing it out of the water. We're now at 21 thousand. So a very clear breakout. We fully understand what we're trading or trading Bitcoin right now and we're using USDA to get into it. So that's what we're trading right now. And we have a breakout of Bitcoin. And then when we look at our indicators by signal from our moving average, we have a bicycle from our volume and we have a buy signal from our Mac D. So everything is lining up on this and you should be entering this position. This is what a good trade looks like. And when we extend it out, we all know what happened to the price of Bitcoin. It has now ran up over 50000. And if you had bought in on this day when we had broke out and broke through 20000 or even if you bought in the next day, you could have gotten right around $22 thousand USD and it ran up to a high of $48 thousand within about a month and a half right here. It's currently trading around $58 thousand right now. So absolutely amazing. You could have very, very easily doubled your money even if you had waited a day or two after the breakout. And you could have very easily identified everything in here by the indicators and the strategy that I just walked you through in this course. Okay, Now just a couple of notes about day trading and swing trading. And the nice thing about crypto is that crypto traits 24 hours a day. I know I have a little spelling error here. This is supposed to say traits, but crypto trades 24 hours a day. And so what's nice about crypto trading is that it doesn't matter if you hold it overnight or anything like that. You're not going to see dramatic opens and closes. It's all going to be connected. And so day trading or swing trading, crypto currency doesn't quite matter as much as it does in other securities because it continues to trade throughout the night. And so what's really nice here is that everything I just taught you and everything, all of the strategies, all of the indicators. Absolutely. Everything can be used on any timeframe. So you can use this on one-minute charts, you can use it on one day charts, you can use it on one week charts. It doesn't matter if you're a day trader or a swing trader. Everything that I just walked you through is the exact same strategy and principle, no matter what the time frame is. So that's really, really nice to see. And the fact that cryptocurrencies don't have massive opening bells on and they don't go crazy at 930 every single morning and makes them very smooth. That makes them much easier to trade and it makes them much more consistent. And so it's really, really nice to trade cryptocurrencies, especially compared to stocks. Now, What's also really nice is that everything that I just taught you is based on supply and demand. And anytime that you can map the price of an asset on a chart. And what's really cool is that all of these strategies apply directly to stocks for x and commodities as well. So if you go and try to trade stocks or Forex the Mac D, the moving average and the volume. All of those principles and everything that I've taught you is the exact same no matter what you try to trade. So that's also really, really nice. Now, I know this was a long video and there was a lot to unwrap here, but I hope you got some value out of this strategy and out of the techniques that I'm showing you here, there's a lot more that you can add to your price charts. There's a lot more indicators and there's a lot more different tools that you can add to this, but this is going to be at least a good foundation to get you started. 21. Staking: All right, You guys welcome to another lesson. In this video, we're gonna talk about staking your cryptocurrency. Now, I know that kind of sounds like a weird term, but let me just break it down for you. So staking refers to holding your cryptocurrency on a platform that uses it to verify the block chain or lend it out on your behalf. So basically what you are doing is you are choosing to keep your crypto currency on a specific platform that will then lock it up for you. They will take it from you and they will lend it out on your behalf or they will use it in some way to verify a block chain and basically validate transactions. And so what's kinda cool about this system is that if you're going to hold cryptocurrency anyway, you can basically stake your cryptocurrency, generate some extra income on it. And that income that the platform generates is shared with you and it's added into your account. So if you are planning to hold Bitcoin for the next three years anyways, you could state your Bitcoin or your B&B or whatever coin you want. If you can find a platform that will allow you to stake it, you can generate a little bit extra income on that cryptocurrency that you were just going to hold anyways, now, there are a couple of things that you need to know how does this work. Number one, you buy Bitcoin or you buy any cryptocurrency and you hold it on the platform of your choice. I'm going to walk you through a couple of the different options that you can choose for platforms. Now number 2 is that that platform will then utilize your crypto to generate income. I walked you through just now a couple of different ways that they do that. And number three is that they will share that income that they generate with you and they will add it to your account. So it's kinda like compounding interest. And if the bitcoin or the cryptocurrency that you get anyways, rises in value, then you've just made a whole lot of money. So staking can definitely be an excellent option. Now, what are the rates and how much money can you actually make? Well, there's a couple of different options for platforms that you can choose. The first one is block phi. This is probably one of the most popular and depending on the type of cryptocurrency that you deposit into your block phi account, it will earn you different levels interests. So if you deposit bitcoin, They will give you 6% APY thats stands for annual percentage yield. That's basically how much interest you are going to generate on your deposit of Bitcoin into their account. So if you deposit a $100 thousand worth of Bitcoin, they will pay you about $6 thousand worth of Bitcoin if you keep it in there for a year, if you deposit GUS D, They're paying 8.6%. Theorem is 5.25 and you SDC is 8.6% per year. So some really, really phenomenal rates with block phi. If you look at Coinbase, another popular application, they allow you to stake different cryptocurrencies and they give you some different rates as well as high as 6% for a theorem, 4.6, 35 OS and 6% for our grants. So lots of different options here. You kinda have to find the one that you trust the most that you believe in and that's going to give you the highest returns. There's also a couple of different options such as State WS, as well as finance. Finance is the one that I prefer. This is the one that I'm going to be using. But you need to decide if this is a good suit for you and if this is actually going to fit in with your investment style, because this is good for long-term crypto investors. Because if you stake your cryptocurrency and the value of that cryptocurrency jobs, you're not going to have to pull it out until the end of that staking period. You can decide how long you want to stake your cryptocurrency for, but you will not be able to pull it out in between. You also need to be not worried about storing the cryptocurrency online with one of these platforms. If you are somebody that wants to store your cryptocurrency and a hard wall it like this and keep everything offline. This is probably not going to be the right answer for you because you will need to keep it on a platform. Thirdly is that this is great for people looking for an extra ROI on their holdings. So if you know that you're going to hold Bitcoin and you just want to make a couple extra percent on it and get some guaranteed returns. This is a fantastic option for you and it's mostly suited for people that are long-term bullish on cryptocurrency. Now, my personal strategy is that I'll be staking my long-term crypto holdings using finance, the exact same platform that we have used for everything in this course. And I'm going to walk you through exactly how to do that right now, okay, So I'm on the Finance homepage here and the first thing I'm gonna do is go to finance and then click on finance urn. This is gonna take me to a couple options where I can start to earn money on my cryptocurrency. As I scroll down here, you can see fixed terms and staking. When I click on staking, it gives me a couple of options here, but I'm going to click on View more so I can see what the other options are. Now, when you click on Expand all 53, it gives you all of the different options for what you can stake. As you can see, you can stake B&B right here at 14 point, 79 percent per year. That means that if you invest a $100 thousand and you keep it on the finance platform and you stake it, you're going to generate $14,790 per year in extra income on top of what the value of B&B might be at the end of that. So we're going to go through just an example here where I stake it for 30 days. The options that you have for BNB, our 30, 60, and 90 days, which means they're going to take your money for that period of time. You will not be able to buy and sell your B&B during that period. And then all you're gonna do is click on steak now. And then you're going to go through the information here. You're going to choose exactly how much you want to state. You're going to click on I have read and agreed to the terms and then you're gonna click on Confirm purchase and it is going to stake your cryptocurrency and you're going to be all set to go. It's going to give you a confirmation page. You're going to be able to see it in your wallet that it is being stake right now. You're going to earn that interests just for holding cryptocurrency in your account, which is absolutely amazing. So if you are a long-term holder, if you know you're an investor and you're going to be holding this for a long-term. If you can stake your cryptocurrency for 30, 60, 90 days, generate some extra income on it. I think it is a fantastic strategy that you should definitely take advantage because it is a fantastic opportunity and you need to do it with a reputable platform. So I highly recommend finance or Coinbase. Those are probably the two largest ones that you're probably going to get the most security out of. So this is just a strategy that I highly recommend if you are going to be holding cryptocurrency, it's not meant for anybody, but it can definitely add a couple extra percentage points to your returns.