hey guys Stefan here from project life
mastery calm and welcome to episode 2 of
my crypto currency trading series now
back in the first episode episode 1 I
shared with you guys my mindset my
beliefs and my philosophy when it comes
to investing in cryptocurrency I also
shared with you guys how to buy Bitcoin
aetherium and litecoin for beginners
just by using coin base and if you
haven't yet watched that video episode 1
then I highly recommend that you do
because it's really gonna lay the
foundation for what I'm gonna share with
you guys today and in future videos
every video is meant to build off of one
another we're gonna get more and more
advanced as we go and so it's important
to have that foundation back in episode
1 and so forth just so that you can
fully understand and grasp what I'm
gonna share with you guys in this video
and moving forward I'll have a link in
the YouTube description to a playlist
that playlists will have all the videos
that I do that are related to this
crypto currency trading series and then
I also encourage you guys to subscribe
to my youtube channel to get notified of
future videos as well now today we're
going to dive into I'm gonna share a
little bit more andrea emphasized a bit
about my mindset my philosophy around
cryptocurrency but we're gonna
specifically dive into altcoins
which are alternative crypto currencies
and there's a lot of different ones out
there beyond Bitcoin I introduced you
guys to two of them in the last episode
such as aetherium and litecoin which are
some of the biggest ones out there but
there's actually a lot more there's
actually hundreds of alt coins out there
and none of them have as big of a market
cap that what bitcoin has but there's
still a lot of potential out there and
often times with all coins you can get
in when they're kind of relatively new
or at a much cheaper price because you
know coins like Bitcoin are now a lot
more expensive than what they were a few
months ago or even a year ago or you
opportunity for you to be able to
diversify your cryptocurrency portfolio
I guess you could say and I'll do a
screen share video for you guys in this
one as well to share with you guys
the exchange that I use for that and the
different coins all coins that I
personally buy and I'll share that with
you guys now before I get into any of
that
was gonna start things off with a bit of
a disclaimer that disclaimer is that I
am NOT a financial advisor I'm not a
financial planner I am NOT an expert
when it comes to investing I'm just
someone sharing my personal experience
my beliefs my opinions what's worked for
me and me just sharing that with you
guys as transparently as I can in this
video you guys can take what you will
from that and it's also important for
you to understand that crypto currencies
are very risky they're very volatile
it's a very immature market so for
example it's not abnormal for you to
maybe see a crypto go up by 20% one day
but at the same time it's also not
abnormal for it to go down in 20% in one
day so you got to know that going into
it you got to understand the risks
associated with it and that kind of goes
back to my investment philosophy and
mindset that I shared back with you guys
in episode 1 which is to never invest
more than what you can afford to lose so
this is not a place for you to invest a
significant portion of your net worth
your portfolio your assets
that's not for that you know I kind of
go back to my mindset which is I
consider it to be my gambling money my
Vegas money that I believe in the
potential if I win I win huge I believe
in it long term long term I believe that
Bitcoin and digital currencies and
blockchain technology will be a big part
of our lives and never just at the
beginning phase of that so I believe in
the potential its massive but at the
same time you know just as much it could
crash you can turn into nothing I can
lose big and knowing that going in when
it drops or dips or crashes I don't
panic I'm comfortable with that I almost
expect that because again I didn't
invest more than what I can afford to
lose I would say that if you're the if
you're panicking or you freaked out when
it goes down then you probably have more
money than what you should have invested
in cryptocurrency so make sure that you
understand that with that said again I'm
a long-term investor so part of my
philosophy my mindset as well is that I
almost want it to dip I want it to crash
because I believe that that is an
opportunity for me to be able
get in at a much cheaper price in
position and because I'm in it for the
long term for let's say ten plus years I
know that it's gonna fluctuate and be
extremely volatile within those 10 years
so if you're in it for the long run you
don't need to get carried away too much
with the ups and downs you know that's
gonna occur you know that's gonna come
again this is a very different asset
class than what most investments out
there would be like a stock or real
estate or businesses or whatever it
might be so that's my mindset around it
long term you know I know that you know
at the end of 2017 it was going up
massively Bitcoin a lot of the kryptos
and often times when that happens you
know everybody gets into it they get
excited it's a huge trend and everybody
starts buying and oftentimes that might
not be the best time for you to buy you
know you might be able to it might be
important to get a certain position in
but I believe for example if you have a
certain amount of money that you've
decided that you're going to invest and
again it's up to everyone everyone has
different financial situations risk
tolerance etc but let's say it was
$1,000 that you're prepared to invest
you know when it's hop at the highest
peak it might not make sense for you to
invest all that $1,000 right away you
might start off by investing you know
maybe 300 or 400 or 500 dollars and then
hold on to that cash reserve that
remaining 500 bucks for when it drops
again then you'll have some of that cash
standing by for you to jump in again at
a much lower position okay so that's
that's kind of one approach that I'll
take as well and I think it's important
to know how much money that you've
decided that you can afford to lose that
you want to put into this don't worry
about what everyone else is doing you
know I know some people that have got
hundreds of thousands of dollars
millions of dollars that they've put in
and of course you're gonna make a lot
more when it goes up in those
circumstances but whatever is a good
starting point for you that you're
comfortable with
that's what I'd start with and make sure
like I said back in episode 1 that you
have other investments as well okay
and this is just one aspect of your
portfolio okay so that you're well
diversified you know I'm often reminded
- you're kind of going back to what I
said about you know buying high and also
selling low you know there's a good
quote which is that when everyone else
is buying you should be selling and when
everyone else is selling and panicking
then you should be buying and oftentimes
when everyone's buying people think that
that person everyone else knows
something they don't know so they all
jump in and and when people are often
selling it's because everyone's
panicking and freaking out and I think
it's important to make sure that you
have your investment strategy from the
start and you're not an emotional
investor you don't panic and freak out
when when the dips occur and you don't
get all excited when the the peaks occur
as well because again it's gonna go up
and down and so I've seen it happen a
lot of times where people freaked out
they sell everything when it's you know
when it's dipped and it's turned off it
recovers and it goes back up again and
they're like well why did I sell it when
it dipped and that's why the the reason
why people do that because they didn't
have a strategy going into it and if you
had that strategy from the start and
you're in it for the long term and again
it's money that you can afford to lose
then it shouldn't really matter as much
if it does dip or go down again the
mindset should be it's an opportunity
for you to buy it at much cheaper
position okay that's my belief that's my
mindset around it you guys can take what
you will from that by the way there's
another great quote this one's from
Warren Buffett you says be fearful when
others are greedy and be greedy when
others are fearful and you know so
basically it's a kind of the opposite of
how most people think it's very
counterintuitive but it's the opposite
thinking when you go against what the
masses do that's often when you can do
the best from that okay now let's talk a
little bit about alt coins all coins are
known as alternative crypto currencies
they're basically any crypto that's not
Bitcoin now Bitcoin is the most popular
it's got the largest market cap and it's
also the most expensive and I do believe
everybody should own Bitcoin in fact for
me the majority of my portfolio is
Bitcoin
I believe that Bitcoin has the most
value but it is again the most
expensive so at a certain point you're
gonna want to diversify you don't want
to have all your eggs in one basket
you're gonna want to own some of the
different altcoins out there and some of
these different altcoins they're not as
established as a bitcoin is but that
means they have a lot of potential it
can be actually more risky as well in
fact we'll talk about that I actually
believe that 99% of them are garbage but
there are a few that have very high
market caps that are worth you investing
in I introduce you guys to a theorem and
litecoin which are very well established
and also very popular alt coins there's
others out there as well such as ripple
- neo etc that I'll share with you guys
that are available on different
exchanges I introduced you guys to coin
base because they're the most newbie
friendly the best for beginners to get
started with but they only they're
limited to certain to certain alt coins
and I do believe they're gonna have more
alt coins in the future moving forward
in 2018 and beyond but for now what
you're gonna have to do is you're gonna
have to transfer some of that Bitcoin to
another exchange like by Nantz which is
what I use and I'll share with you guys
how that works a little bit later in
this video
but using buy Nance because that can
allow you to buy a lot of different old
coins that are out there and as I
mentioned back in episode 1 it is
important to make sure that you don't
have all of your crypto currencies
stored in one wallet okay so coin base
is a digital wallet and there's all
their different wallets out there as
well and exchanges but you don't wanna
have everything in one wallet because
then all of your your crypto currencies
are basically dependent on that one
wallet and there's a potential there's
always a risk of getting it hacked and
losing that and just kind of being at
the mercy of this other company and so
that's why I believe diversity
diversifying also having your cryptos on
different exchanges or wallets and also
using a hard wallet which is the
treasurer which is what I use here and
we'll talk about this more in a future
video but this allows me to store my
crypto currencies on an offline wallet
so there's two different types of
wallets as an online wallet offline
wallet this is
the most secure when you have an offline
wallet there's actually also a paper
wallet - and again those are things
we'll talk a little bit more further in
the series when it comes to protecting
your cryptocurrency okay so I'm now
gonna switch to a screen share video so
that I could share with you guys how to
buy different alt coins by using an
exchange like by Nantz which is the
exchange that I use for that I'll share
with you guys how you can transfer from
coin base to buy Nance and the different
alt coins out there the ones that I
personally invested in buying and the
different ones that are available for
you so let's begin ok guys so right now
I'm in a website called coin cap dot IO
and this is a website that I love
because it gives you a ranking of all
the different crypto currencies that are
out there all the different old coins
and so just kind of scrolling through
this you can see all the different alt
coins that are available there's
actually hundreds of them that exists
and there's new ones being founded and
started almost every day the biggest one
being Bitcoin and I have this ranked and
categorize by the market cap the market
cap is the overall size of how much has
been invested into that cryptocurrency
so as you can see Bitcoin has a market
cap of a hundred and eighty six billion
so it's massive next we've got aetherium
at ninety seven billion and again this
is at the time of this video of me
recording this maybe it'll be higher or
less by the time you're watching this
video
ripple is a third most popular third
largest market cap at 53 billion then we
got Bitcoin cash which was the result of
a fork that occurred with Bitcoin back
in 2017 Cardno litecoin etc and then
we've also got the price this is the
current price of what is the current
value of these different coins right now
I'll go more into some of this stuff as
well 24-hour VWAP is volume weighted
average price okay so that's kind of
average price based on the volume the
24-hour volume is basically an
approximation of how much has been
bought or sold within 24 hours so you
can see that's about ten billion this is
kind of useful to look at because it can
kind of give you an idea of how the
market is moving you know you so you'll
probably notice a
vol occur when when things are you know
the price is dropping drastically or
might be going up because there's a lot
of activity which can actually
manipulate the value of the market as
well here we got the available supply or
circulating supply this is the number of
coins that it's kind of an approximation
of what's available currently so they
actually use the available supply and
they multiply that by the price to get
the market cap and then the percent in
the 24 hours is how much of a percentage
has gone up within a 24 hour period so
the time of this everything is kind of
up by a couple percent now when it comes
to altcoins
so I mentioned you know you the big coin
being the biggest the most established
is the first one that you're gonna want
to own it's kind of like the gateway
currency to buy some of the other ones
into and get into some of the other ones
all these different altcoins exists
because people created them to solve to
solve problems or to try to improve
things that they thought they can make
better and trying to solve different
problems within the technology and you
can you know every altcoin here kind of
has its own uniqueness his own is kind
of created to solve a certain problem or
it has its own technology behind it and
you can research each each one which I
recommend that you do before you decide
to invest in them so for example you
could load up aetherium a ripple or you
know litecoin and kind of learn a little
bit about how they're different from
things like Bitcoin but when it comes to
alt coins the way I kind of perceive
them is that they're kind of like small
businesses they get started anybody can
start them okay
and some of them are gonna do great and
have the potential to do really well but
the majority of them are probably gonna
fail and they're gonna disappear and
that's the case for alt coins there's
some here that are fairly well
established those are the ones that I
personally stick to the most you know
probably would seem like the top ten
market cap ones are the ones that
I personally invest a larger sum into
however I do believe there's also a
philosophy and strategy I know some
people they actually go for different
altcoins that are just brand new they're
startups they have a lot of potential
because they're not as established as
some of the bigger ones are but at the
same time they have a lot of risk so
that's for you to decide which ones you
want to invest in for me I like to stick
just to the the biggest ones the the
ones at the largest market cap because
also the larger market cap and the
larger volume that's occurring it
becomes a lot easier to get out of it as
well if you want to sell off some of
these altcoins versus you might have a
significant portion in some you know
lower value ones that have a much lower
volume and market cap you might actually
have a hard time selling them so that is
something to be aware of I actually do
believe that 99% of them are garbage as
well and so that's another reason
because they can be started by anyone
and basically what you're buying are
just lines of code that someone you know
a coder or programmer has written and
the value of them are really only based
on what people are willing to pay for it
so it's important to kind of keep that
in mind and understand that so this is a
useful website for you to become
familiar and aware of the different ones
you know you can load it up and see a
little bit about the chart the history
and some details of it as well so I use
this for research purposes and then what
I use to buy altcoins with is an
exchange called buy Nance so right now
I'm logged into my buy Nance account
it's an exchange that you it's similar
to coinbase but you need to transfer
Bitcoin or like coin or aetherium into
this exchange in order to buy the
different altcoins so from what I
understand you can't use fiat currencies
with buy Nance I could be wrong but for
the most part you have to transfer in
Bitcoin or like Kohinoor theorem or
established coins in order to buy the
different old coins with it and so your
have to get verified for this I'll link
below to buy Nance you have to get
verified similar to you would with
coinbase they're gonna ask for your
identification etc and then once you're
set up you're good to go
and then going back to coin base here
I'll actually do I'll do a trade for you
guys just for demonstration purposes in
this video so what I'm gonna do is I'm
going to transfer from my coin base
account to my by Nance account either
Bitcoin aetherium or litecoin I'm gonna
transfer some Bitcoin I'm gonna click on
accounts you're gonna click on send it's
gonna ask you for a Bitcoin address so
coming back here to buy Nance what I'm
gonna do is I'm gonna go to funds I can
go to balance his or deposits here you
can actually see you know how much the
funds that you have of the different
altcoins so you can see a little bit
about my portfolio that I have right now
in this exchange so I own about 20
different old coins the most popular
ones here it's not a significant portion
I have the majority in Bitcoin litecoin
and aetherium and ripple those are the
most popular ones but you're gonna find
Bitcoin where are you Bitcoin you can
also search for it here it is click
deposit so now it's gonna give me a buy
Bitcoin to pause the address I'm gonna
take that copy it go back here to
coinbase put that in put in the amount
that I'm going to want to send so I'll
just send I'll send 500 bucks worth now
there are Network fees so usually when
it comes to fees there's transaction
fees or network fees as well as mining
fees mining fees or you always have to
pay because you have to pay the miners
for helping the process the transactions
and whatnot the great thing about by
Nance is actually I don't like to buy I
don't like to buy altcoins like
aetherium and litecoin really on coin
base because there'll be higher fees
with that so buy Nance is actually a
better option just in terms of buying
their different alt coins with anyways
it's gonna ask you for your verification
so I'm gonna do that real quick okay it
says my transactions on
away so there can be some delays in the
transfer but once the transfer
successful then I'll be able to see it
here my balances section for Bitcoin so
I'll be able to sit here in which case I
can then click on trade and then use to
trade that to buy some of the different
alt coins I'm just gonna go here to
exchange basic and here is where I can
buy the different alt coins so this
might seem a little bit overwhelming and
complicated it's really not it's fairly
straightforward I like to come here to
coin cap and decide on the coin that I'm
going to buy so let's say for example is
Ripple you're gonna want to make sure
that you get the symbol for that coin
okay so for ripple it's x RP and if I
come back here I could do a search for
it
XR P so this is gonna the way that I can
buy ripple is by trading Bitcoin BTC
that's a symbol for Bitcoin for XR p
which is ripple so I'm gonna click on
that and there's different ways that you
can buy and sell you could set a limit
which basically means that if you want
to buy within a certain limit a certain
price that you you know you want to set
it so for example you don't buy higher
than a certain price that the the trade
won't occur or you can choose market
price which is just gonna give you the
best possible price that's available
there's also a stop limit which is often
used when you're selling I'm gonna you
know if I I could put a hundred percent
based on this is how much Bitcoin I have
available how much I'm gonna buy but
let's say I'm just gonna buy thirty
thirty ripple coins I'm gonna click on
buy and that's it so that's actually and
then I'm gonna show up inside my
balances if there's another coin that
I'd like to buy so let's say I want to
buy card a no click on it I can find the
symbol 8888 come back here do a search
for it and again this will
tell me the current price of it how much
has changed within the last 24 hours
you can really look at a lot of the
analytics if you want the trade history
gets a little bit more complex if you
want to go more complex with it but like
I said I recommend diversifying amongst
some of the different ones and do the
research on them there might be a
certain coin or technology that you
really believe in and you believe in the
technology and other people will as well
that could really blow up and do super
well so certain coins like ripple and
other ones it can be fairly fast to show
up in your balances although there could
be the most delays with Bitcoin but
you'll then be able to see everything
here track everything here as well and
that's why I like to use also the the
coin cap I owe just so I can see just
kind of what's going on in the
marketplace what's going up what's going
down the total you know trade volume and
the market cap of the different coins
out there so that's pretty much all
there is to it guys
like I said trying to make sure that you
diversify the majority I like to still
have established in the the biggest
coins out there so you know that'd be
Bitcoin that'd be aetherium light coin
ripple maybe Bitcoin cash card ah no you
know the more established ones and then
if you want to venture off to some of
the ones out there that are less
established but you believe in the
technology or you're willing to take
greater risks then by all means are free
to do so as well so that's it for this
video guys hopefully you guys enjoyed it
Avila NK's below - a few things that I
mentioned here including four by Nance
but that's it guys look forward to the
next episode that we're gonna have
together going a little bit deeper a
little bit more advanced with you guys
as well as interviewing different people
than the crypto space that have a lot
more experience and expertise and
different opinions and beliefs to share
with you guys as well as we go so make
sure you subscribe to my youtube channel
check out the playlist that I have and I
look forward to talking guys again soon
take care
you
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