The easiest way to buy and invest in Cryptocurrency. Bitcoin, Ethereum, Litecoin, etc. is all through exchanges like Coinbase and Gemini. Coinbase (Get $10 in free Bitcoin) ➭
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Timestamps:
0:00 – Start Here
0:57 – What is Cryptocurrency?
3:18 – How Do I Invest in Cryptocurrency?
4:15 – Example of buying Bitcoin on Coinbase
6:12 – Safeguarding Your Cryptocurrency
7:14 – Physical Cryptocurrency Wallets
8:35 – Why Invest in Cryptocurrency?
Brian Jung’s Crypto Video:
Simply put, a cryptocurrency is a digital coin, or a digital form of currency that’s main feature is that it’s decentralized.
That means it doesn’t rely on a central bank, they are bank free. There are a lot of advantages to having a decentralized currency.
Since decentralized currency doesn’t rely on a bank, its free from monetary policies that might cause inflation of the currency.
Another advantage is that when making a payment from one country to another, they’re basically free from transaction fees.
There are tons of other types of digital coins out there, but the underlying premise is that all these coins rely on decentralized block chain technology.
Now, Bitcoin is the most popular form of cryptocurrency, and Ethereum is a close second – but today we’ll mostly be referring to Bitcoin in our video.
Some people buy Bitcoin because they want to store their money somewhere other than a bank, and some buy it as an investment, believing the price of it a few months or a year down the road will be higher than what it is today.
Ok so let’s say you want to put some of your money in cryptocurrency…well where do you even start?
First, you want to sign up for an exchange. An exchange will allow you to buy, sell and hold crypto. The most popular ones include Coinbase, Gemini, Binance, and even now the Cash App and Robinhood have it.
One of the most reputable exchanges is Coinbase, and that’s what we’re going to be talking about today, and they also happen to be going IPO later this month in February 2021.
They’ve raised over $500M in capital, and have over 35 million users – it’s one of the safest exchanges to buy cryptocurrency on.
You can access Coinbase on the web or on an app, and it’s where most people I know buy their Bitcoin/Eth.
After you sign up for an account with Coinbase, you’ll have to give them some personal information just as if you were signing up for a brokerage account, but once you’re signed up
After that, you’ll get to this main screen or dashboard- you’ll want to link your bank account, and then you’re ready to buy cryptocurrency.
The main thing you need to know about having Bitcoin, or Ethereum, or any cryptocurrency is that if you really want to safeguard it 100%, you’ll want something called a crypto wallet.
Now, Coinbase has its own built in wallet, so the money that you saw in my coinbase account is just stored with Coinbase’s wallet.
Now, there are plenty of vidoes on how to transfer your Bitcoin or Ethereum or coins to wallet, in fact, my friend Brian Jung has a really great tutorial linked above.
I hope this video was helpful!
▶️ My name is Humphrey Yang, I’ve built multiple businesses and am passionate about Personal Finance. If you’re trying to build a solid foundation of financial literacy, learn to invest, or become financially free – then I’m here for you! This channel cover topics like getting out of debt, managing money, building credit, multiple income sources, passive income, etc.
📧 Contact: If you have a question feel free to leave me a comment on my videos or follow me on IG and send me a DM! If you have a business related inquiry, please then send me an email at humphreytalks@gmail.com
Disclaimer: I am not a financial advisor, any investment commentary are my opinions only. Some of the products and services that appear on this channel are from companies that I have an affiliate relationship with, such as Robinhood, for which I recieve a small percentage made via those links, but it doesn’t cost you anything extra!
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