if you don't have too much knowledge or
you're not an expert in bitcoin or the
way cryptocurrency works that's
completely okay because i'm gonna be
going over everything that you need to
know in order to get started today
in this video we're gonna be going over
how to invest into bitcoin
for this year as a beginner what i'm
gonna do is actually invest
five thousand dollars of my own money
onto bitcoin and show you exactly real
time how it works
and towards the very end of the video
i'm gonna be going over exactly how you
can score
free bitcoin today you don't have to pay
me you don't have to do anything you
literally just have to watch this video
till the end and i'll share with you
exactly
what you need to do in order to score
that free bitcoin just by watching this
video
now if you are new to the channel
welcome normally we talk about credit
cards and personal finance i don't think
i've
done a cryptocurrency video in a very
long time but
lately the bitcoin market has been
absolutely crazy
with the release of all these stimulus
packages the dollar getting inflated
and a lot more corporations turning into
the side of investments
in cryptocurrency we're seeing the price
go
absolutely insane and i'm hearing some
real personal success stories in my own
life of people i know
who are making hundreds of thousands of
dollars in cryptocurrency
so i don't want any of you guys to miss
out because if you have this mentality
that
oh it is way too late i will not be able
to get in there as well
that's far from the truth i think we are
still in the much early stages of the
development
of cryptocurrency especially bitcoin and
one of the most important things that
you can do
is to invest now get started now okay so
let's start this off by talking about
the background of bitcoin
what it is and how it all works to break
things down
the easiest way to explain the way
cryptocurrency works is
this is just a peer-to-peer transaction
so if i wanted to send you money
i would do it through venmo or cash app
or paypal if i'm trying to venmo you
some money
what happens is i have my ten dollars
and i want you to get
it it doesn't go straight from me to you
although that's what we see on our end
the back end of these transactions often
entail a third-party company that handle
the exchange
i really want you guys to pay attention
to this next clip
talking about the dangers of using some
of the most popular apps like paypal and
vemmo
and if you didn't know yes paypal does
own vemmo paul leach a former venmo user
said he had thousands of dollars taken
out of his big account by way of hackers
according to leech the hackers made a
few micro tester transactions
taking out as little as 18 cents at a
time paypal who now owns venmo set up a
lawsuit with the federal trade
commission last year
over privacy violations for selling
buyers purchasing habits
to companies what you have to realize
now is that big
fintech companies will prioritize other
people's data and sell that for
extraordinary amounts of money this is
not uncommon practice
and it's actually pretty sad this may be
how i personally got my identity stolen
who knows a lot of the sensitive
information that you would never think
getting revealed to other companies
happens on a daily basis and this is one
of the things that cryptocurrency
is here to to help alleviate and to
solve
aside from those things we're not even
going to go into the topic of security
and the liability that the banks have in
trying to have all of our money and the
instability of the fiat currency
all you need to know is that there are a
lot of downsides when you are using
a primarily peer-to-peer system that
relies heavily on different entities
outside of our control with
cryptocurrency or bitcoin you get
something called a wallet
address this is pretty much a long
series of numbers and alphabets
and you pretty much just put that in and
that's where you can send the money you
don't ever have to worry about that
transaction getting reversed you don't
have to worry about the transaction
getting hacked
the way bitcoin works is secure and it's
pretty awesome
just in case i didn't do a good job of
explaining through my analogy on what
bitcoin is
i'm gonna read to you the exact print
that they have on bitcoin.org
so you can have an official better
understanding of how this all
works they state on their website
bitcoin.org
bitcoin uses peer-to-peer technology to
operate with no central authority or
banks
managing transactions and the issuing of
bitcoins
is carried out collectively by the
network bitcoin is open source
its design is public nobody owns or
controls bitcoin and
everyone can take part through many of
its unique properties bitcoin allows
exciting uses that could not be covered
by
any previous payment system they also
show
three key points fast peer-to-peer
transactions which is very important now
in the year of 2021
we don't like waiting two to three weeks
for that money to come in
we don't like waiting two to three
business days for that wire transfer
to come in the next thing they say is
worldwide payment if i wanted to send
my relatives in korea some money i would
either have to wait
or pay a large fee and i would not be
100
sure if it went through either the third
thing we need to mention is that bitcoin
has low processing fees
so you pay just a small fraction of this
processing fee that goes towards the
people that are actually mining the data
for this transaction to go through now
in addition to that i wanted to show you
another resource that you guys could all
check out this is literally on the
public website bitcoin.org
and this is the official white paper of
how bitcoin
works so what you're seeing on your
screen right here is the official white
paper of what bitcoin is and how it was
intended to work by satoshi nakamoto so
the first
paragraph of the white paper we can
actually see that this is a summary of
how bitcoin was supposed to work and why
it exists i'm not going to go over this
if you do want to do a deeper dive and
you find all of this fascinating i will
have links down below in the description
or you literally go on bitcoin.org and
you can search this up as well
but this pretty much goes into the
transaction details
how it works the hashing the nodes it
also talks about the timestamp server
the proof of work anything related to
the back end of why
bitcoin right now is an actual
successful thing
if you don't have a background in
computer science or you're just someone
like me and
literally as much as you read this some
of it still doesn't make sense
i say that's okay you don't necessarily
need to know exactly
how the splitting value or how each hash
and nodes
work all you have to really know is what
bitcoin is and how it performs
now that we have a good idea of what
bitcoin actually is
and how it works we need to talk about
the transaction process and we also need
to go over something called the
blockchain
blockchain itself could be a very
confusing topic but the easiest way to
explain this
is that it's just a database as you take
a look onto your screen
this is normally how a transaction
occurs with bitcoin
first a new transaction is entered then
the transaction is transmitted to a
network
of peer-to-peer computers scattered
across the world these are the people
who are going to be mining
this type of data so that bitcoin
transaction can go through
next the network of computers then
solves equations to confirm the validity
of the transaction
once confirmed to be legitimate
transactions they are clustered together
into blocks
these blocks are then chained together
creating a long
history of all transactions that are
permanent and then
the transaction is complete so if you've
ever wondered how the term blockchain
came about
this is exactly why now one of the most
fascinating things about the blockchain
is that it is a public ledger as well so
this means you can actually access all
of the data
and see some pretty interesting
information all the way up to the
transactions that people are having on a
day-to-day basis
right here someone bought 22.38 worth of
bitcoin someone bought 27.26 worth of
bitcoin
you'll see these monster transactions
every now and then
we we are some pretty small shrimp in
the game but
you got to realize that's how crazy
something like this is
people are trading and transferring
bitcoins
in the hundreds of thousands of dollars
every single day
if not every single hour so hopefully
right there that gave you a better idea
on how bitcoin itself works and how the
blockchain operates now to pretty much
glue everything together what i'm gonna
do is actually
transfer my own money a five thousand
dollars into bitcoin
and show you exactly what the process of
that is now if you're still watching
this video because you're trying to
figure out exactly how to get free
bitcoin
let me share with you now what that is
so there are a ton of different
companies out here that have created
platforms in order to
trade cryptocurrency many of these
companies are gonna want you to start
banking with them because odds are
if you deposit your first 10 20 with
that specific platform
chances are you're going to be using
them for the duration of your
cryptocurrency
investing time so many of these
companies are going to offer you some
type of incentive to sign up
coinbase will give you 10 if you want to
use the link down below in the
description
crypto.com is going to give you 25 for
signing up what i recommend you to do is
actually sign
up for both there are times when a
platform will go down
this doesn't just happen in the
cryptocurrency world but it also has
happened on the stock market with robin
hood
you don't want to be in a situation
where there are some crazy crazy things
happening in the market
you either want to enter it or take your
money out but you can't because
the server or the app itself is down
make sure you have
at least two platforms that you can use
just in case that happens
and if you guys wanted to apply for it
through the app store without using any
special link
you're not gonna get that free welcome
bonus associated with it
so with coinbase you can get free crypto
using the link down below in the
description literally just by signing up
you're gonna get free 10
crypto.com you're also gonna be getting
free crypto whatever crypto you get paid
out in
you can transfer that automatically into
bitcoin
and they're right there you have bitcoin
pretty awesome
so for this video i'm gonna be using
coinbase in google chrome on my computer
in order to show you how i
put money into crypto and how this all
works all right so right now i'm in my
coinbase account we have 3969 dollars in
here and i'm gonna load it up with five
thousand dollars and i'm gonna buy
bitcoin with that right now
so at the time of this recording bitcoin
is currently at thirty six
thousand seventy dollars i am buying
at an all-time high price it may not be
the best time to enter the market
but if you're holding this for at least
a couple years it doesn't matter when
you go in
just at least have a position in case
this rides up to a hundred thousand
dollars
and future brian i'm gonna place a bet
right now
this time next year bitcoin future brian
a hundred thousand dollars all right so
here is how
this all works in order for you to
successfully buy bitcoin today
you don't have to put five g's into the
market you could buy
ten dollars worth of bitcoin you could
buy a hundred dollars worth of bitcoin
whatever
you are most comfortable with coinbase
is one of the most
popular apps to trade on they are secure
they have
funding by investors from silicon valley
i've been using them for a very long
time as well and many
other high-performing cryptocurrency
traders use this platform
but they use the pro version if you're
kind of like a noob
and you're getting into this you don't
have to worry about it too much
so let me show you what coinbase pro
looks like
people who are trading crypto much more
diligently will
download something like coinbase pro you
do have to pay to use this but with
regular coinbase it's free to use if you
do sell something there is that
transaction fee that we mentioned
earlier in this video
so here we are you can buy crypto for
one time purchase you can also do things
where
you can repeat it through different
times of either the day the week or the
month or even every month
so if you want a dollar cost average
that's one of the features that you can
use in order to continually
purchase bitcoin in order to build your
investment portfolio
if i want to sell bitcoin i could do it
right here
i currently have sold all the ones i had
in this account prior to making this
video
so it says i have zero dollars right now
but if i had even like a hundred bucks
in bitcoin i could sell this and deposit
it
into my cash account another thing you
can do is convert bitcoin into another
cryptocurrency
so bitcoin to ethereum for whatever
reason maybe you think ethereum is going
to pop
off more percentage-wise and you want to
make that jump that is something that
you can do as well
if i put 50 it'll convert it
automatically i can preview it
and i would have to confirm it i don't
have enough right now so it's going to
give me that message
so let's buy bitcoin right now and let's
do something else on top of that let's
send
the bitcoin to another account that i
have in order for you guys to see
exactly how this works okay so right
here i'm going to press 5000
i got no bread in my chime account so
we're going to use my other
account here we're going to preview the
buy
it is definitely a pricey point as you
can see i'm trying to buy five thousand
dollars worth of bitcoin
they did take a seventy three dollar and
forty one cent fee
uh so that means i purchased four
thousand nine hundred twenty six dollars
worth of bitcoin at thirty six 36 162
it hurts a little i'm not gonna lie that
the price is this high but anything for
my audience to get some value so we'll
just do this
we're gonna click buy now
so it's interesting with the way
coinbase works i did not use played in
order to connect
my bank account i did the manual thing
where they send you
two different transactions for pennies
that they put into your account now
an official holder of bitcoin of five
thousand dollars for
this coinbase account we can now see
that my portfolio has
jumped up from what it was before all
the way to
eight thousand eight hundred and seventy
four dollars although coinbase itself
can be pretty secure they have a feature
where you can activate a
new security key something i've talked
about in my identity theft video
do that for everything that you own that
allows you to
so what that means is you got to get a
security key
i have an example of one right here all
you have to do
is get this physical key and push the
button
after you decide to put your password in
and you try to log
in this is an additional form of
security it's pretty much like
two-factor authentication on your phone
except you physically have to push this
button so if a hacker gets all your
information they know your wallet
address and they get into your bitcoin
if they do not have this they cannot
officially log
in so this is something i highly
recommend everyone to get just to make
sure that this is safe
if you want to take an extra layer of
precaution
this right here is something called cold
storage the ledger nano x is one of the
most popular ways to secure your crypto
so imagine the security key on steroids
this pretty much allows you
to secure your cryptocurrency off
a platform the reason why you want to do
that is because there are a lot of
hackers that know
the value of what bitcoin is worth and
they also know how anonymous
a lot of this transaction is so if
someone hacks you and steals your
bitcoin
you're not gonna get help from the ftc
you're not gonna get help from your
insurance company or any of these banks
oftentimes if you lose your bitcoin and
it gets hacked it's gone for good
it's both the disadvantage and the
advantage of using
an anonymous peer-to-peer networking
system like this
so here we are i have the ledger in my
hand right here i'm gonna have
everything listed down below in the
description for you guys to check out
but for this all i have to do is plug it
into my computer
and make sure that i put in my passcode
that it's set up
i get my wallet address with this which
will also be provided
via a qr code that you can scan too or
you just copied and paste
into your address so i just plugged in
my ledger i have
an eight-digit code that i need to put
in
so on my ledger right here i have oh let
me uh
zoom this in a little it says bitcoin
right here i'm gonna click both of these
buttons okay and then it's gonna say
application is ready i'm going to click
both of that
so i open up my ledger app here i'm
going to receive some crypto
my ledger is connected to my computer
right now here's my ledger
and here is the address for bitcoin
so what i'm gonna do next is to withdraw
a thousand dollars of that crypto and
send it into my cold storage
so i'm gonna press a thousand right here
i'm gonna put in
the address i got on my ledger i'm gonna
press continue right here
and we're gonna send now so we can see
that the payment receive can take about
30
minutes the network fee is taking three
dollars
that is not too bad at all for a
thousand dollars that i'm paying uh the
people who are mining this
meaning the ones that are getting the
reward in order for this exchange to
happen
now this right here is the scariest
moment of cryptocurrency it's not
actually
putting your money into coinbase and
buying bitcoin at an all-time high
it's waiting for this money to show up
in your actual
cold storage or transfer to where you
intended because
now no one is middle manning this
transaction and if you put
one typo and you somehow accidentally
send it to a guy in russia
that money's gone you're not gonna do
anything about it so it says it takes
usually less than 10 minutes
the past transfers i've done have
happened almost instantly
so i'm back on my ledger right now and
we're gonna see if this
pops in and there we go we instantly got
our money
into our storage and you can see
it went from 23 000 up to 24 000
dollars on here and from here i can also
navigate
my crypto i can do what i want with it
but the best benefit of it
is that it's off the platform it's off
the network and it's something that is
in my control
this ledger right here is absolutely
dope um it's something that i highly
recommend anyone who's trying to invest
into crypto to set up and
plus it's just cool like i feel like i
was tom cruise in mission impossible
seven or something man
like putting this in and and doing the
pass codes and writing things down and
setting it up
it just felt cool all right so that is
how you buy bitcoin you send it you
receive it you keep it off the platform
and you do it in a safe manner
this is the full guide on what you need
to know in order to invest into bitcoin
as a beginner
for this year everything i said in this
video is going to be evergreen
meaning what happened in 2021 is going
to be applicable
in 2022 23 24 and 25 so no matter
what time of year you're watching this
video this is still going to be the
principle that you need to know that's
not going to change
anytime soon don't forget if you do want
to pick up ten dollars worth of free
crypto with coinbase
link for that will be down below if you
want to use crypto.com which i'll also
make a future video on
on how to use 25 for free down below in
the description
crypto.com used to be 50 it was awesome
when that promotion was around i know a
ton of my subscribers had signed up for
that
but i think because crypto is getting
even more popular
these companies don't need to
incentivize people with that much money
so i can only see these welcome bonus
offers going down
over time so make sure you sign up for
this as soon as possible to get that
free crypto and to start investing today
you don't need to put a thousand dollars
into the market i don't recommend you to
put your entire life savings into
cryptocurrency
it's very risky if you do that but i do
believe that you should put a small
portion of your net worth into
cryptocurrency
because it is one of the most valuable
investments you can make
for this year now keep in mind guys i'm
no financial expert
i am not an advisor of any kind i'm a
random guy on youtube so a lot of this
is gonna be at your own discretion now
one last thing if you guys did find
value in this video don't forget to like
this video don't forget to comment down
below
and subscribe to the channel if you have
not yet already i really appreciate all
of you guys
for your time and hopefully you learned
a lot and follow me over on instagram if
you guys have not yet already and until
next time
peace out
