hey miles here miles Becker calm and in
this video I'm gonna show you how to
purchase your first bitcoins and if
bitcoins I'll show you how to get ten
dollars in free Bitcoin when you watch
this video now
bitcoin is a highly volatile new
technology and currency I've covered the
nuts and bolts of the technology in a
previous video and of course I don't
recommend people put important money
into this kind of area right I've spoken
on other videos about paying down debt
about filling an emergency fund but if
you're in a position where you want to
tuck away a hundred and fifty bucks a
week or a hundred fifty bucks a month
into this new currency as a speculation
that this new currency and this new
technology can continue to grow right
because you believe in the technology
then this video is gonna show you
exactly what to do and how to do it so
let's just jump right in and make it
easy we're here if you notice at miles
Bechtler calm Ford / Bitcoin and I'll
have that pop up above my head here in
the video and when you come here you'll
notice it says miles Becker invited you
to try coinbase
what happens if you go through this
process and purchase a minimum of $100
in Bitcoin you will receive $10 and free
Bitcoin now this is an affiliate link
and I will also receive ten dollars in
free Bitcoin so essentially there's a 20
dollar bounty for a new customer you get
half and I get half when you purchase
100 in free $100 worth of bitcoins so
scroll down and you'll see it's really
simple right name address email and
that's it choose your password when you
choose your password make sure you use a
password that is extremely secure
security is important consider this an
online bank so you don't want to use
something simple that could be easily
guessed you use a big long string of
numbers letters and special characters
and capital letters etc once you go
through this process it will log you in
and this is the coin based dashboard now
the coin based dashboard allows you to
purchase three different crypto
currencies Bitcoin aetherium and
litecoin now right now today we're
coming off of a down month in Bitcoin
and
I do like purchasing when the numbers
are down right I like paying less for
the same thing because I believe the
long-term value is beyond the all-time
high which was over 5,000 dollars but
with that said if you're seeing positive
numbers here it doesn't really matter
the way to get this game to work for you
is what's called dollar cost averaging
and dollar cost averaging is when you
habituate the process of making a
purchase of an asset or a Bitcoin for
example every single whether it's a week
every single month whatever it is you
habituate the process some weeks or
months when you buy the numbers will be
up and it'll be on an upswing some weeks
when you buy the numbers will be down
and it will be on a downswing what this
allows you to do is you get some random
average of all of the buying
opportunities that you purchase within a
few years and really I look at Bitcoin
as something that I'm not really even
interested in looking back at to what my
portfolio is doing for one three five
years so my goal and my approach here is
to habituate the process of purchasing
these and then in like I said one three
five years to look back and at that
point I will kind of measure my return
if there is return and of course this
can go up there's crazy numbers being
thrown around about how valuable a
Bitcoin could be many of those crazy
numbers get into the five figure mark
which is well over ten thousand dollars
per Bitcoin there is also the chance
that it goes down to zero because this
is total speculation with that said I
love having a tiny sliver of my asset in
here which I've discussed in previous
videos so let's jump in before I do
actually we will jump in in a second and
buy some but before I want you to go be
sure and set up two-factor
authentication and you go into the
settings and then you click on security
and when you click on settings and
security you'll notice that down here
there's a two-factor authentication area
you want to setup two-factor
authentication and this is an extra
security measure and the way it works is
you essentially get an app on your phone
it's either the Google Authenticator or
off the app and then every time you log
in it asks you to deliver a little code
that it sends to your cell phone and you
can see
here that the time I believe is just
below it and it gives 30 seconds with
this six digit string and I have 30
seconds to enter that string of
information in order to kind of get
access to my account it's just another
security measure to make sure that
you're caught that your coins are
secured also if you're purchasing
thousands of dollars in Bitcoin or you
have five thousand ten thousand or more
in Bitcoin I would not keep them here on
coinbase long term I think it's
important to get a cold storage device
like a treasure or a ledger nano s it's
kind of like a little USB Drive that
lives offline and it's extra security no
one can hack it it's not online and it
just gives you that extra level of
security which I recommend but with that
said it's super simple once you're into
coinbase and you have your account you
click on the buy and sell and you'll
notice it pulls up you have three
options
Bitcoin etherium or litecoin in this
example we're gonna purchase some
Bitcoin and I'm gonna simply scroll down
and I'm gonna type in 150 dollars cuz I
may get 150 dollars worth right now it's
important for you to remember that to
get your ten dollar credit you need to
purchase at least $100 in bitcoins right
so if you just put in a hundred you'll
notice the fee actually makes it to
where you're only gonna get 96 dollars
in Bitcoin you need the the actual
amount in the subtotal here to be over a
hundred to get your ten dollars free in
Bitcoin and you'll notice so I'm doing
one hundred and fifty my ten dollars
free Bitcoin ours is gonna more than
cover my fees on this purchase so the
other cool thing you can see is you have
the ability to repeat this purchase here
you can do it daily weekly every two
weeks or monthly this is the easiest way
to make sure it happens that dollar cost
averaging without really thinking about
it and again just a reminder like this
is not rent money this is not coming off
of a credit card this is extra money you
have that would be going into savings
anyways and you want to take a little
sliver of it whether it's a hundred a
week thousand a month whatever it works
for you a hundred a month twenty dollars
a month whatever works for you and
you're just tucking it aside into a
different account you're kind of hiding
it from yourself so it can grow over
time but have that emergency fund dialed
in
be sure your
have at least a plan that you're
enacting to pay off all of your debt
because that is so important to be to
create a financially secure life for
yourself and that's it I've already got
my payment tied in here you'll have to
get that done obviously you'll find
those kind of steps on how to do it and
then we simply click buy Bitcoin
instantly and that's it it wants me to
confirm the buy here on the right I
click confirm buy and it confirms the
transaction and you can see that the
purchase has been successful now I come
over to my dashboard and we can scroll
down here and you'll see that I now have
0.06 three Bitcoin and you can see this
transaction right here I just purchased
the hundred and fifty where the Bitcoin
and it's already in my account from here
I'm able to send these coins over to a
exchange if I want to trade them like
Michael and I spoke about in the
interview video I did with him last week
or you can just let it sit here right
just start to accrue consider this a
little bit of a savings account for
yourself that has the ability to
potentially ride the wave of this
disruptive technology that is getting
kind of mass consciousness right more
and more people are learning about
Bitcoin I believe less than one or two
percent of the US population is even
familiar with this process that I just
showed you
so you're way ahead of the curve and if
this catches adoption 2 or 3% 5% or 10%
of the population once in that's simply
gonna drive the price of bitcoins up and
you have potentially positioned yourself
as an early mover in this way but again
the market will absolutely see ups it
will absolutely see downs and the trick
to the game is small things done
consistency over long periods of time
and don't fiddle with it too much right
and then after one three five years you
can look back and at that point assess
how well this is doing for you just like
my content marketing efforts right small
things a video a day a video a day a
video day to an over extended period of
time create significant results if I
stopped after day eight and said where
are my results I would have no results
and that same philosophy applies here
you have to be willing to delay
gratification for this to work I hope
you found this to be helpful if you have
questions about purchasing Bitcoin
through
coin base which is a well-established
company coin based just did a round of
funding from venture capitalists it was
valued at over a billion dollars this is
the first billion dollar valuated
company in the cryptocurrency space so
it's highly secure it's got some of the
smartest people in the industry working
for it it's available to people in 32
different countries and I highly
recommend you start taking little bits
of action that fit well within your kind
of financial game plan right just again
this is not investing this is
speculation and only put in here what
you're willing to potentially lose but
consider it like a really long term slow
and steady
savings account that you don't have an
ATM card for it makes it a little bit
difficult to spend these funds but if
you ever did need them you're able to
just transfer it back sell it to dollars
and deposit those dollars back in your
bank right here through coinbase
it's all really simple I hope you found
this to be valuable informative give me
a thumbs up if you enjoyed it here and I
look forward to connecting with you on
the next video
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