How Do I Buy Bitcoin? Investing for Beginners Series #13 // How to buy cryptocurrencies david moadel
welcome to looking at the markets with David Modell this is another video in my
series investing for beginners because I want you to start off right with your
investing journey there are no questions or topics that are too beginner ish you
should never be embarrassed or afraid to ask questions and I'm gonna put my email
address down below on this video my name is David Modell and my email address is
David Modell at gmail.com if you want some help or further help with investing
trading whether it's crypto currencies stocks options commodities whatever it
might be I can help you to put together a plan for your trading for your
investing because if you don't have a plan then you really are planning to
fail so I want you to get started off right let's talk about crypto currencies
and especially let's talk about Bitcoin because the topic of this video is how
do I buy Bitcoin maybe you've heard of this Bitcoin thing maybe you want to get
started buying some well first let me say you don't want to mortgage your
house to buy Bitcoin I do not recommend that all right I do not recommend taking
your entire investing portfolio and putting it into Bitcoin you can put some
of it or a little bit of it but and I cannot tell you what to do or what not
to do but personally for me I would not take my entire portfolio or even most of
it and put it into Bitcoin because cryptocurrencies can move up a lot and
they can move down a lot right now we're seeing a lot of green in the crypto
currencies I'm on world coin index comm and I use world coin index comm and I
also use coin market capcom coin market capcom i use those two frequently to
check the prices of the most popular crypto currencies and interestingly
enough bitcoin is number two on world coin index comm that's
very rare for that to happen we've got a OS at number one and BTC which is
Bitcoin at number two interestingly enough but Bitcoin has the name
recognition maybe you want to buy it so after you check the price because you
always want to see where it's at on the chart you want to look at the news see
how Bitcoin is doing see how cryptocurrencies are doing just
generally speaking not only in the united state night united states and
canada but also around the world you want to see how it's doing in asia
because that has a big influence as well alright so how do you buy it well you
need to find a platform okay you need to find an exchange in exchange it's kind
of like a broker with stocks you have brokers brokerages okay well with
cryptocurrencies you have exchanges which perform the same function it's a
place that lets you buy and sell crypto currencies some of them will let you
only trade meaning buy and sell Bitcoin and a few others the more popular ones
others will let you buy and sell many different ones so let's take a look at
the few that's a few of the more popular ones okay the most popular one is coin
base and I'll I'll keep this up here this has all of the addresses where you
can visit them online ww coin base comm right there in fact
all of these are dot-com basically it's just whatever name I tell you for the
exchange you could just put calm after it and that's how you get there
alright so coin base is the most popular one it also has in my opinion high fees
okay the the Commission's that they charge or rather high on the other hand
it's really popular so you'll never have to worry about you probably won't have
to worry about coinbase shutting down anytime soon it'll probably be here for
a while alright and also there's lots of liquidity meaning plenty of buyers and
plenty of sellers and so you don't have to worry about if you want to buy
something will there be anybody on coin base to
sell it yeah sure there will be if you're going to sell it will there be
somebody there to buy it sure there will because it's coinbase and it's so
popular alright so the problems with coinbase are again the fees and the
Commission's are kind of high okay the other problem is they're limited in
their menu of crypto currencies you've got Bitcoin Bitcoin cash aetherium and
litecoin that's it those are your four choices if you want to buy or sell
something else besides those then you're out of luck at least when it comes to
when it comes to coin base alright and as we can see on world coin Index calm
there's a lot more to the cryptocurrency world than just those four alright and
that's all they have right now could they add more later on
coin base could they add more sure they can do whatever they want but right now
they only have those four so it's limited but if you're a beginner if
you're just starting out it might not be a bad place to start because another
advantage of coin bases they make it really easy and you know I'll show you
what it looks like when you're logged in okay that all the buttons are really
simple you got right on the dashboard the price of Bitcoin Bitcoin cash
aetherium and litecoin you just buy or sell by clicking that buy sell button
you could check to see how much you have in your account by clicking on accounts
it's about as simple as it gets alright so if you're just starting out
and if you don't mind paying more fees then and if you don't mind the
limitations of only having four different crypto currencies on there
coinbase comm could be a good place to start all right so that's what it looks
like when you first log in let's go back to where we're here and we're on coin
base let's check out some other ones all right because again this is limited for
different coins that's not much all right so let's take a look at Polonia
axe and I I just picked some other ones I'm not favoring right now am i favoring
one over one over the other so these are some of the more advanced ones maybe
start out with coin base with those four different coins you can trade or invest
in and then later on you can move on to some of these more advanced ones that
have more choices more options but they also are more complex coin base has
one of the simplest interfaces it's really easy to use these are perhaps
more difficult I would say here's Polonia X one of the most active crypto
exchanges in the world alright and just you know set up a trading account there
there's one you've got BitFenix the world's largest and most advanced crypto
currency trading platform okay if they say so that's what they say and then you
got bit tracks that's another popular one you just sign up right there alright
we've got banan s-- exchange the world with banants there are a lot of
different coins on banants look at all these different possibilities it just
keeps going going that banants is becoming very popular lately and if you
want to have a lot of different coins or tokens that you're able to buy and sell
that may be a good choice for you but it's not the easiest one to use if you
want the easiest one perhaps coinbase cool coin cool coin calm these are all
calm by the way alright there's another one with lots
and lots of different coins tokens including some lesser-known ones not
just the popular ones but some unusual ones as well that's pretty cool alright
and GD x GD x is not the easiest one to use in fact it's one of the more complex
or advanced ones to use but the fees are very low the Commission's are very low
for this one so if you're if you're more advanced and you make a lot of trades
and you don't want to pay high fees and commissions you may want to go with GD X
but you really have to know what you're doing alright but I you know it's
something to consider for more when you get more advanced this is more of a
beginner video so you may want to look at these more advanced ones later on and
I'm going to give a shout-out to my friend rich from rich TV live or over in
Canada he did not ask me to do this but I felt like doing it why not give him a
shout-out rich TV live.com he actually has all the links here you just go to
rich TV live.com click on crypto currency
and look at these world coin index coin market cap a lot of these that I
mentioned today coin base alright banan scoop coin and some others there are
other places you can go on here as well pretty cool all right so that's how you
get involved with starting to purchase Bitcoin and other cryptocurrencies I'm
gonna title this how do I buy Bitcoin but you can purchase other things as
well you might just want to start with Bitcoin that may be the easiest way to
go it's the most popular one plenty of volume plenty of liquidity meaning
plenty of buyers and sellers you don't have to worry about running out anytime
soon of buyers and sellers when it comes to Bitcoin alright so I hope that was
helpful to you my name is David Modell and if you'd like some help again you
need a plan you know you don't just want to start buying stuff and you definitely
don't want to put way too much of your money into Bitcoin or any other
cryptocurrency you want to be careful small position sizing is the key and I
can help you formulate a plan because you really need to decide how much
you're going to put in how long you're going to hold it entry points exit
points wait where do you take profits stop losses if you want to use them that
kind of thing and if you don't know what those are that's cool I can teach those
my name is David Modell you can email me anytime at David Modell at gmail.com if
you like this video please give it a thumbs up on YouTube and leave a comment
I like your comments and subscribe to my youtube channel and hit that Bell on
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you more of these videos that are really useful and helpful to you
you so much for watching and listening I appreciate it and I'll talk to you again
soon
you
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