hey everyone this is stefan from
projectlifemastery.com and welcome to my
cryptocurrency video series now the
reason why I decided to create this
video series is because I've been
getting a lot of people asking me about
cryptocurrency about Bitcoin obviously
it's a huge trend right now a lot of
people are talking about it a lot of
people are getting into it a lot of
people want to know whether they've
missed the opportunity how they can get
in is it too late how they can buy
Bitcoin how they can buy aetherium
litecoin which is the best one how much
they should put in how they should
protect themselves different altcoins
the mindset the strategies the
philosophy around it obviously there's a
way for me to share with you guys what
I'm doing my opinions my beliefs and my
strategy around that would be to create
a video series so I'm gonna have a
playlist here on YouTube okay I'm gonna
have several different videos I'm gonna
release them over time we're gonna start
brand new for beginners and then we're
going to get more advanced for those
that want to go deeper with it okay
and I also want to bring in different
people to interview people that are
deeper in the cryptocurrency space than
I am that have just more knowledge to be
able to share with you guys you know I
don't really believe anyone's really an
expert in this I'm not an expert brandy
means because it's largely based off of
speculation nobody really knows what the
potential is what the future holds as
much as someone might say that you know
big guns gonna go up or it's gonna crash
you might have heard conflicting
opinions online nobody really knows for
sure so I'm not claiming to be an expert
I'm just gonna share with you guys and
be transparent about my experience my
mindset my strategy my beliefs you can
take what you will from that and you
know if you want to go deeper with it
then I'm happy to share with you guys
what I'm doing and the things that I'm
learning with it so I'm gonna have a
playlist here on YouTube I'll link to
that in the description you can make
sure as well to subscribe to my YouTube
channel and I'll probably have an email
list as well so that I can email you
guys different updates and different
videos that I release but I'm excited
for this journey to share it with you
guys I've been pretty active and
learning about it now for you know over
a year and there's a lot that I've
learned you know I
been able to make a lot of money with it
because it's continued to go up I know
many other people out there have made a
lot more money than I have as well and
I'm also in this video we're gonna keep
this video for beginners and I'm gonna
share if you guys my strategy my mindset
around that cuz it's important to have
that before you go in you can't just you
know get into something blindly or
aimlessly you've got to know what your
purpose what your outcome is and kind of
have a strategy around that and it might
be different than an actual investment
because I don't really believe
cryptocurrency to really be an
investment you know it's not really
backed by anything doesn't have much
value and it can be heavily manipulated
but having that strategy I think is
important and I can't think of any
reason why anybody would not buy a
cryptocurrency why they wouldn't get
involved because even though it is risky
and again I'll discuss these things with
you guys
the potential of it I believe is huge
and also in this video I'm gonna do a
screen share video I'm gonna walk you
through the steps I'm gonna log in to my
clean base account I'll show you guys my
some of my crypto also I don't store all
of my crypto currencies my Bitcoin in of
digital exchange on a website I actually
have a hard wallet known as the
treasurer treasurer right here and I can
store my kryptos here we'll cover this
and more of a later video but this helps
to protect my currency it actually has a
USB so connects to your computer as well
we'll discuss that and a lot more in
this video series okay so make sure you
subscribe check out the playlist as well
now let me first discuss my mindset and
my philosophy around it I kind of
already started talking about it so I
want to kind of go deeper into that I
believe that cryptocurrency
is not really an investment it's very
risky and obviously it's very volatile I
actually you know for you that follow me
and subscribe to me and followed my
goals and my journey most of you guys
know that I'm into investing I like to
I'm a more of a conservative investor
overall you know I make my money my
businesses and then it's what you do
with your money which is very important
number one goal when you make
is to protect it you want to make sure
that if there's any emergencies or any
issues that happen you have that reserve
that emergency fund so that you're safe
and that you're good that's one of the
first things that I often recommend and
teach to people and then also investing
your money and more conservative
investments that can grow over a long
period of time okay taking the long-term
route that's what I do with the majority
of my investment portfolio so for
example I invest in a lot of blue chip
companies and stocks here in Canada on
the toronto stock exchange as well as in
different US exchanges i invest in you
know index funds i invest in a lot of
dividend paying stocks i invest in some
ETF's bonds as well as union as well as
investing in REITs real estate
investment trusts I got rental property
so I have an investment portfolio which
I think is an important important to
have it's important to not take all your
money and put it into something like a
cryptocurrency or a Bitcoin because of
the nature of it being risky it just
would not make any sense for you to take
a large significant sum of that
portfolio and put it into something like
that now with that said I do believe it
has a place in your investment portfolio
but a smaller place you know I kind of
consider it money that I invest into
Bitcoin or different altcoins
to be money that is kind of like my
gambling money
I call it my Vegas money you know a lot
of people they go to Vegas every year
and they gamble it's fine sometimes they
win sometimes they lose if they win they
can win big if they lose you know
they're not that surprised by that it
kind of expected it and that's the
mindset that I personally take with
cryptocurrency that I take a certain
amount of money that I can afford to
lose okay it's not my life savings it's
not you know it's not a significant
portion of my money it's just amount of
money that I've decided I'm comfortable
to loose potentially if it goes up
amazing I win I win big I can celebrate
that it turns out that blog chain
technology is huge and Bitcoin
cryptocurrency 10 20 30 40 50 years from
now something we tell our grandkids of
I know how we were early adopters and
investors in it you know and then you
you took advantage of that it the
potential of it is massive
okay so I'm willing to take on that risk
but if it drops and I lose everything
I'm not that surprised and frankly I
don't care because again it's not money
that I really needed okay so that's the
mindset I have going into it okay I
understand the risk and you've got to
understand the risk as well now
everybody should buy I believe a crypto
currency like Bitcoin if Didem litecoin
and you don't need to buy a whole coin
that's often a big misconception that
people have you can buy little fractions
of one I can't think of a reason why
anyone would not put in let's say $100
okay you put it in you consider that
hundred bucks gone you're probably gonna
spend that on going out to dinner or you
know going to you know buying some
clothing or whatever it might be but you
know drinking or something like that
okay so whatever that money amount of
money is instead of spending it on a
night so take that and just put it into
a cryptocurrency at least a hundred
bucks I would say and then you forget
about it you leave it there and you just
let overtime allow that to grow if you
lose it that's okay a hundred bucks you
know you would have lost that anyway
it's just going out you know for a
dinner and a movie but that way you're
putting it towards something that has a
potential you can have a piece of if it
goes big then you can have a part of
that okay so I can't again understand
why anyone would not buy cryptocurrency
obviously if you can afford more to lose
you can do that everyone has a different
threshold their different risk tolerance
that's for you to decide I can't tell
you how much you should invest but
that's just my opinion okay that's what
I've shared with people in my life like
my girlfriend or my family members close
friends this is what I would tell them
you guys can take for it what you will
okay but again even if even if you don't
believe that it has much of a future
there's not that much harm and just
putting a small amount of money I think
I know what the lowest is that you can
put in but I mean even if you put in 20
bucks maybe that could turn into several
thousand dollars over the next five or
ten years
never know in fact people that invested
back in 2013 mm you know 2010 you know
I've become Multi multi millionaires
because they just put it in and I know
many stories of people that put it in
this forgot about it they left it okay
so that's kind of one approach and that
would just be the most beginner basic
approach and I think as long as you just
have the mindset going in and you're not
putting a significant sum of money
you're not putting their life savings
not doing anything stupid like that then
I think you'll be good I don't think
there's anything wrong with that okay
now when it comes to what you should buy
Bitcoin obviously is the most popular
one I do believe everyone should have a
certain percent in Bitcoin but you
shouldn't have everything in Bitcoin you
know so if you have a thousand dollars
let's say maybe you might put a couple
hundred dollars into Bitcoin but you're
also going to want to have a piece of
two of the other most popular ones which
are like coin and etherium and the most
popular exchange that you can use to buy
Bitcoin litecoin if they're in as well
as there's now Bitcoin cash to that they
have the most popular way most common
way and the simplest way is using a
digital exchange called coinbase
excuse me so coinbase coinbase
is how I got started it's great for
newbies because the interface is very
very simple and it's very secure if not
probably the most secure exchange out
there they do have fees and they are it
can be fairly high but for 99% of you is
probably going to be the best way for
you to start there are other exchanges
I'll link to some of them below as well
coin base again is probably the most
popular one but there are other ones
that have lower fees some might be
different based on where you live as
well I think 99% of you coin base will
be enough but you know your country
might not be listed you know when you
sign up for coin base for example so
there are different ones out there
coin base is the one that I went with
but I do believe is actually important
to have your money especially when you
have more significant amounts several
thousand dollars I would say you do you
would want to have it on different
exchanges not all in one as well as the
hard wallet the treasurer is what I use
for that to protect it because there is
a risk of actually getting hacked and
potentially losing some of your
cryptocurrency okay so those are things
we'll discuss more in some future videos
how to really protect it but again 99%
of you just to get started that want to
get started today
coin based I'd probably be the best bet
for you I'll have a link below you can
click on it's an affiliate link and you
actually get $10 if you spend if you I
think invest under bucks you will get
$10 worth of cryptocurrency for free so
pretty good deal but coin base is what I
use I'll log in to my account and show
you guys how to do it but you bid it's
pretty straightforward to sign up for
you do need to get verified okay because
these exchanges they have to work with
the governments and the different banks
and they have to make sure they you
report any capital gains that you might
earn from that with taxes so you do have
to get verified often it may ask you for
your ID or a passport or something your
address and information like that to get
verified sometimes they might have a
limit and how much you can buy if you
want to invest very large sums like tens
of thousands of dollars worth there are
exchanges that you can actually send
wire transfers to and you know be able
to invest in larger amounts if you know
if there's a certain limit of a thousand
dollars that say that you can't go above
those are things we'll kind of discuss
in later videos to go a little bit more
advanced in it but for now let me just
kind of jump into how to use coin base
how to get set up how you can buy I'm
going to buy right now I'll buy some
Bitcoin or something you know my account
right now to show you guys and and then
I think that's a good start to this
video series and as long as you guys
again know that mindset going in
and you have the right approach to it
you know then then I believe it's a
great opportunity for someone to get
started and the potential of it I
believe is pretty big and one thing I'll
mention too before I share the video
with you guys where I show you how to do
it is one approach that I take kind of
part of my strategy and and this is
something you can maybe take on as well
is whatever amount of money that you put
in let's say that you decide I hey you
know I'm gonna invest 200 bucks okay you
put in that 200 bucks when it goes up
okay or if it goes up if he goes up
let's say and it goes to $300 or 404
hundred dollars worth of cryptocurrency
then a common strategy that you can do
is once it goes up you you sell and you
take out whatever your original amount
of money was that you put in so if you
put in 200 bucks and it's gone up to 400
bucks awesome then take out that 200
bucks that you originally put in leave
in that remaining $200 worth of the
gains that you had and in that way you
basically eliminated any potential loss
the amount of money you put in you've
now removed and now it's just the money
that you left there that can continue to
grow for you so that's a bit of an
approach and a strategy that I've also
done for myself with this so even if I
lost everything you know I've got a
fairly significant amount of money in
cryptocurrency if I lost it well I
didn't really lose because the original
investment that I put in I've already
got back I've already gotten back okay
so I'm only playing with the gains that
I have that of since made since I've you
know since I've started investing with
it okay so that's a strategy I want to
share with you guys the mindset going
into this with that said let me do a
screen share for the video for you guys
and show you guys how come when base
works and how you guys can get started
buying Bitcoin ok so right now I'm
logged inside my coin base account this
is my dashboard and the first thing
you're gonna see once you logged in once
you sign up your account and again like
I said it's fairly simple to set up
there'll be a link below this video or
go to project life mastery comm slash
coinbase there's gonna ask you for your
information and then once you get set up
then you'll be able to
see and access the dashboard like what
you see here so the first thing you'll
see is the different cryptocurrency so
we got Bitcoin got Bitcoin cash we've
got aetherium and litecoin these are the
most popular crypto currencies these are
the current ones that you can buy right
now with coinbase I've heard they're
gonna expand and add a few different
ones but there's also different
platforms if you are different exchanges
rather where you can buy alt coins and
that's something that we'll discuss in
in a future video ok but these are the
most common most basic ones for the
majority of people that you're gonna
want to make sure that you have a
certain percentage of your their
portfolio diversified amongst them ok
you don't wanna have all your money in
Bitcoin you'd want to spread it out a
little bit okay and I'm not gonna tell
you how you should allocate that that's
up to you to decide this is my account I
don't have all of my currency here
inside this account because like I said
I also make sure that I have a
significant amount on my hard wallet as
well as different exchanges some of the
different exchanges I'll have money on
to purchase for protection reasons as
well as to be able to buy different all
coins and not to have all my all my eggs
in one basket all of it in one platform
so I live in Canada so everything it
kind of shows that Canadian Canadian
dollar equivalents of it so I have about
$25,000 worth inside this account right
now I do have a large much larger amount
as well but I should move this actually
out of this account pretty soon you can
see I have about 64% in this account in
Bitcoin 24% in a theory 'im 9% in
litecoin 2% Bitcoin cash they did a
split in 2017 with that so I don't carry
that much Bitcoin cash I'm able to see
here how it's fluctuating okay so today
the one day basis is up 2.9 percent you
can see this is the amount of money
right now in Canadian dollars it's less
in US dollars probably around 15,000 or
so US dollars and again the big
misconception that people have is that
they have to buy a whole
coin they think they need to have 18,000
or 15,000 or whatever the price is to
buy as you can see in this account I
don't even have one Bitcoin
I have 0.8 0.8 of a Bitcoin inside this
account and that's okay you don't need
to I have three point nine you know
aetherium coins 7.5 light coins so you
don't need to have a whole Bitcoin or be
able to afford that amount of money okay
yes bitcoin is the most expensive one
it's been going up like crazy lately but
you know you don't have to you know I
still think it's worthwhile buying some
Bitcoin you don't have to put all the
amount of money that you might have that
you want to dedicate to you know to
buying cryptocurrency all at once into
it often what I do is actually I buy a
small holding of it okay so I might buy
a certain amount a Bitcoin litecoin
etherium and then I'll wait and I'll
kind of you know still have a bit of
reserve of cash that I'm ready to invest
but I'm waiting to see whether it'll go
up or well of whether I'll go down and
usually when it goes down you know I
look at that as I can opportunity to buy
more because as I said I'm in this for
the long term I understand it's gonna be
volatile I expect that I almost I know
it's gonna crash and I expect it's gonna
crash and so I'm waiting that when it
does go down I'm not gonna panic like
what a lot of people do I'm gonna look
at that as an opportunity buy more
because I'm looking at it in the long
term and if I can get a discount or a
cheaper position to be able to get in
that fantastic I'm more than happy to do
that but I do know a lot of people they
say well it's too high right now I'm
gonna wait before I get in well that
could be a mistake because what if it
doesn't go down what if it doesn't crash
you know what if you know you know it
you know who knows what's gonna happen
so I believe it still makes sense
whatever the amount is the value of it
is right now still get a certain
position of it by a little bit and then
you know wait a little bit with some
other money that you might have ready to
invest and then just wait you know wait
to see how it goes if it does dip great
buy some more but again if long as you
are in it for the long term which I am
you know I'm not really that affected by
the the short-term ups and downs you
know because I'm in this for five years
ten years twenty years thirty years and
I see the potential of its you know
going up much higher than what it is
right now obviously
okay so Bitcoin right now the time of
this video it's a little bit up for the
week
for the month this actually lower we had
like a huge surge but overall just in
the last year you know fifteen hundred
percent increase which is pretty insane
if you look at all time you can see the
growth of it and obviously if you're to
invest in two thousand thirteen fourteen
fifteen sixteen that wasn't a long time
ago if you had invested then you know
today in 2018 it'd be a very large
significant amount of money so as you
can see it hit a huge peak I think was
near the end of 2017 and then it dropped
obviously a lot of people panic then but
it's gone back up and up and down I
believe it's gonna be again different
surges and whatnot and you know the
potential of it is gonna continue to
grow
same thing you know for Bitcoin cash you
can look at that as well as the theorem
if theorems you know start I think in
2015 and it's been you know growing
especially over the last few months it's
been a massive surge same thing with
litecoin to you know hit a huge peak and
then it dropped down as well so it's
worthwhile to make sure you have a
position in each of these and again
start small don't put everything in
quite yet and you know just kind of wait
to see how it fluctuates I like to i
pretty much actually check almost every
day and the cool thing with coin based
till i mentioned they have an app that
you can also download on your phone get
the app because you can also make set up
alerts so i have alerts that if a for
example litecoin or bitcoin drops to a
certain amount then i'll get alerted on
my phone so that way because i member
actually one day i was like six o'clock
in the morning i was catching a flight
and bitcoin was dropping a lot that day
dropped a significant amount and i got
an alert for it and when up while i was
at the airport from the app I actually
bought quite a bit of Bitcoin
then it went back up for that day so I
made actually some big returns that day
which has been really great so that's my
approach that's my philosophy on it so
you are gonna have to get verified with
your account oftentimes when you first
step your account there will be certain
limits I because I live in Canada right
now the best way for me to buy out using
coin basis or my credit card okay so you
can set up a credit card you could set
up a debit card they all have different
options available for you my weekly
limit with this account is about a
thousand dollars I actually started in
much lower limit I think it was like a
hundred bucks or so and after about 30
days they increased it to a thousand so
they have reasons for kind of
controlling that you know so for example
right now I'm gonna buy I'll buy fifty
bucks worth fifty dollars Canadians
worth which as you can see is hardly
anything of a Bitcoin you could even set
a repeat bias to which can be good
because then you're taking advantage of
what is called dollar cost averaging
which is basically if you just
consistently buy daily weekly or even
monthly then sometimes you're buying
high sometimes you're buying low and it
kind of evens itself out over time so
that's a common investing strategy I do
that with my other investments that I
have there outside of crypto currencies
is I just set it up so it's automated so
don't have to worry about it or think
about it so they do have a bit of a fee
if you're first starting the fee is not
really much of a big deal but as you get
more advanced and you're buying
thousands of dollars worth then it can
become more of an issue in which case
there's other exchanges like in GTA X
which is also owned by coinbase
it's a lot more advanced a little bit
more complicated but that's something
once you're investing thousands then
you'd want to look into something like
that so I just bought it and usually
it'll show up in your dashboard within a
few minutes does depend actually
sometimes they have a little bit of
delays with it with coinbase because
they are dealing with a lot of different
transactions and a lot of different
things so it is good to be aware of that
you can also sell as well here
but it's important understand in certain
countries it can get a little bit
complicated selling because coinbase
kind of works with certain banks in the
US you won't have a problem but in
Canada you can have some issues but if
you want to sit if you whatever reason
you're not happy with coinbase
okay you want to move your funds out
that's not an issue okay you can
actually transfer your coins from one
exchange to another exchange or like I
said you can even transfer it to a hard
wallet and so I like to you know
transfer it amongst different exchanges
I can sell it in different exchanges you
know you can transfer without any fees
as well so that's not much of an issue
those are things we kind of discuss
later as well as you know look around
coin bases website and you know you can
learn they have a lot of Q&A or
frequently asked questions a lot of
information that obviously you can learn
about and go through that are is kind of
beyond the scope of this video but for
now I just wanted to share with you guys
how to get started you know a simple way
to buy how to get in the game and you
know I'm looking forward to covering
more more topics on this and different
strategies and kind of going a little
bit deeper with you guys for this if you
do sign up for coin base again go to
project life mastery comm slash coinbase
that's an affiliate link so I do get $10
worth of cryptocurrency Bitcoin for
referring to people to coin base but the
cool thing is they've set it up that if
you spend a hundred bucks
they'll give you ten dollars worth of
bitcoins for free
sorry $10 yeah ten dollars worth of
Bitcoin not ten bitcoins ten dollars
worth a Bitcoin US dollars okay so I
think it's great for that reason you can
benefit but extra ten bucks and get
started and you know if you don't wanna
use my link that's totally cool as well
but it's wanting to share this with you
guys and help you guys get started with
it and if you guys want more again make
sure you subscribe to my youtube channel
make sure you check out the playlist
that I'll have here on YouTube as well
link to that in the description and then
also I'll set up an email list so that I
can notify you by email as well because
sometimes pee
might not get notified on YouTube or
check their YouTube that often so I can
also email you as well of a link to that
and that way we can continue this
journey together and continue to grow
and I look forward to it so thanks for
watching the video I'll see you in the
next one
you
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