Hi guys, its Majesty Ibianga here with the Financial Drive-Thru and in this video
i'm gonna be teaching you how you can get started investing in
cryptocurrencies safely and securely. So if you're interested in that kind of
content, definitely stick around, smash the thumbs up button if you like it and
be sure to subscribe. And that said, let's Drive-Thru.
Okay guys welcome to this presentation on how to invest in cryptocurrencies
safely, let's get right into it. Now the first thing to keep in mind once you
decide you want to invest in cryptocurrencies is that you need to
understand all the risks. You're going all-in, there's really no time to half-ass
this and so first thing to bear in mind is that you can and you probably will
lose some money along the way. Now this may be anything from investing poorly to
holding on to one currency just too long - when everybody else is selling, you still
remain optimistic, anything can happen but don't take it personal,
everybody loses money sometime, one way or the other
the second thing to bear in mind with cryptocurrencies is that you essentially
are becoming your own bank, so even if you're dealing with exchanges where
you're probably not holding your own private keys, you're still responsible
for keeping your recovery codes safe (and I'm referring to the recovery codes you
get when you sign up to any of these platforms), so understand the risks, know
that you're fully responsible for what you get into and once you have that in
mind let's go on to the next point. The next thing I want you to consider is
Research. You have to do lots and lots of research so what I want you looking at
is knowing exactly what you're investing in - if it's an ICO, if it's a new
cryptocurrency, anything, you need to put in the research. Now most people
believe just going over something for about 30 minutes is enough; I don't think
so. I think if you're gonna invest money in anything, you owe it to yourself to
actually do proper due diligence so that you know you are actually not just throwing
money away. Ask yourself a couple of questions when you want to buy any coin -
what are the prospects you see? Is it the hype that's making you buy it? Take a
look at the team, take a look at what they're trying to achieve, their project,
their mission, what exactly is it about that coin that made you want to buy it?
Now the easiest way I can suggest doing some research on any coin is to come over to
coinmarketcap.com and we're gonna pick any random
coin here... so let's just change this up a bit, Noah coin for example - I have no idea what
this coin is, but if we want to do a basic check on this coin, what we're going to
do is we're going to click on it and immediately you can see the market cap,
the volume, how many coins are in circulation, the total supply and then
you could also link up to their website, any announcements on that, technical
documentation - I mean, they have everything! You can see historical charts
on Noah coin to find out how well it's been doing against the price of Bitcoin
and just as easily, you can click on the website. Things you should
usually check out; whether or not the site is secure (SSL), find out how you feel
about the coin, what they're offering, you could check out their team - in this case
we have LinkedIn profiles; you can look these people up find out if you feel
that they have something that they're doing. Also check out their
partners, a lot of times the partnerships can actually let you know
what you feel about the prospects of the coin. So look at everything. You
can reach out to a couple people on the team as a 'Contact Us' tab is on pretty much
every site; So do your research, make sure you don't rush into anything because at
the end of the day, it is your money and it's your duty to protect it and the
major thing to remember with cryptocurrencies is that if you lose
your cryptocurrencies, or you lose your private keys and all, that there are very
few ways to actually get it back and you may never get your money back.
I've lost money too and I've had to learn myself and get better and know how
I keep these codes so, I want this to actually be a learning curve for you; I
want you to be able to avoid some of the mistakes I've made and so that's
definitely something you should do. Do your research, make sure you have that in
mind. You also want to read the White paper - Now a lot of people probably think
they're not going to understand anything in the white paper, but I think that's
untrue. Basically you're gonna see exactly what they're trying to offer,
you're gonna see how many tokens or coins they're going to be putting out,
how it all came to be, a lot of backstory is gonna be given and you just might make
some sense of some of it but I think it's safer to actually go through this
and decide if there's anything that is a red flag. You can also try copying
a bunch of text from the White paper and pasting it on Google to see if any of this was
plagiarized - these things happen. Whenever any ICO is coming out, some ICOs
are actually lazy and just copy and paste all the
information from another coin and put it out there and then have you buy in. So
this is one way you can actually come up with your own viewpoints about a coin
and try and decide why exactly it is you want something. Now I cannot stress this
enough, I'm putting on the serious face right here, this is it guys: Decide how
much you're willing to invest and base this decision on your current situation!!
For example, if you have rent coming up I don't expect you to be pulling money out of
there, if you're supposed to pay your kids school fees, if you have some
payments or bills that you need to pay I really don't think it's a wise choice
for you to be buying any cryptocurrency especially when you consider the
volatility in the market. Simply because everybody is buying Bitcoin right now
doesn't mean you have to buy it right now or doesn't mean you have to buy a huge
amount of it right now. There is no such thing as 'buying too little', that's the
beauty of Bitcoin and most of the cryptocurrencies, you can choose and just
pick some, just pick a little bit up. I mean if you're holding on to the right
coin at the right time, you could see a massive boom overnight, Yes, but at the
same time you could also see it going in reverse and nobody wants that! nobody
wants that! So as a rule and I'm sure you've heard this a lot so this is not
news to anybody as I'm pretty sure if you're on this channel, you probably
heard this somewhere - NEVER invest more than what you can AFFORD to lose!
Also never FOMO. Fomo means 'fear of missing out'. Fomo is what happens when
your friend comes over to your house and goes ''hey guy, have you heard about the
Drive-Thru coin? Its greatest coin out there, everybody's buying it right now.
it's really racking up in the charts, you should check it out'', and then you go and
you start asking people -'' hey what's happening with drive-thru coin, what's
really going on'', and then you keep seeing ''oh my god, Drive-thru coin, so many
plans, drive-thru coin'', next week, ''drive-thru coin'', and they literally leave
you like 'what the hell, I need some Drive-thru coin', and so you go you buy that
coin without doing any research, without doing anything and then guess what? The
very next day, drive-thru coin dips and it's like a pump and dump
so here are the rules, never buy at the highs, I mean never,
ever buy into the Fomo. I'll use a recent example, barely two weeks ago we saw the
price of XRP surge just like over here, nice gains all because the
Ripple conferece was coming up (that's the Swell
Conference), just because that was coming up and they made a couple new
announcements and everybody - all the YouTubers, there was all that news,
everybody was making so much noise about xrp going to the moon and such and see
what happened over here - we see this nice spike. So just picture yourself hearing
all about xrp, you know your friends have been talking about it and then you buy
in at this point - how would you feel? I mean if you got in at the bottom,
kudos to you, but if you didn't, that's the FOMO you jumped in on. So never, ever
FOMO. Another thing I want you to have in mind when thinking of investing in
cryptocurrencies is safety. Think safety at all times. You want to write things
down on paper - now I know it seems like such a crude thing to do but the
internet is fraught with hackers. I mean a lot of people can get access to your
computer through various nefarious means, so things you shouldn't do - never save
your codes online. I mean, yes, it may be convenient to have your browser
remembering all your passwords and all your codes and filling in the blanks for
you but you don't want to expose yourself to that level of risk. Write
down everything on paper, you may want to get yourself a couple notebooks and
form the habit of writing down all your passwords, your login information, your
wallet recovery phrases, and write them in each of these books and preferably
store these books in different places just in case anything happens to one you
know you still have some security and I mean if you think there are other ways
to store your information other than writing it down on paper and hardware
wallets which we are going to talk about shortly, do let me know in the comment
section of the video. I'd love to get your input. Also, you want to get
2-step verification for everything! I mean your emails, your exchanges, your
wallets, every single thing that holds your money should have 2-step
verification. I strongly recommend Google authenticator and you can get that
in your app store on your mobile phone, on your laptop, you can get Google
Authenticator pretty much everywhere so I highly recommend that you try it. Look
it up, check it out, be safe. Also, when a lot of people get
involved in cryptocurrencies, they start to sign up for things like airdrops,
they do some network marketing programs, I mean they do a lot of stuff to invest
in Cryptos, so one of the things that you really shouldn't do is use your personal
email addresses. You want to find some seriously secure and encrypted email
options - I highly recommend protonmail.com. I'm
gonna put links to all these things in the detail section on the video so don't
worry about having to remember them. If possible all your cryptocurrencies should
be linked to these secure and encrypted accounts and that is the way that you
should go. You also want to avoid phishing sites as much as possible. It's
always good to pay attention to the URLs of the sites that you frequently visit
so you can easily identify a phishing scam when it's about to happen.
Always check and double-check, make sure you're on the right website before you
put in any of your personal login information because you want to be safe
I have another video about how to avoid cryptocurrency scams and scammers and
I'm gonna link that at the top of the screen right now so do check it out
I mentioned hardware wallets and a couple of them that I wanted us to look at are:
the Keepkey, Nano ledger S and Trezor. Now these three I highly recommend, the
KeepKey is really just a very cool and techy gadget. It's
nice, it looks good and it's something good to show to your friends. It
feels kind of like a premium wallet and it may be a little bit heavy and so yeah
that may fall sometimes so you may want to keep that in mind.The Nano ledger S
is the wallet of choice as far as I'm concerned and I'm gonna link them all in the
details section of the video you should check it out. They're currently in stock
and if you do get one, let me know about your experience in the comment section
of the video. Finally,the Trezor wallets is one of the very first wallets
in the industry and it set the gold standard for crypto security but
obviously it's more expensive and it has a reputation for providing top-notch
security and protecting against both virtual and physical theft. It's
basically considered a 'vault', so if you want to be extra secure,
obviously you should go for this. At the end of the day after looking over all
three of them, I personally believe the Nano ledger S is a good way to start and I
definitely see it as a win. The last thing to consider when getting into
cryptocurrencies is your psyche, your mindset and your discipline. It's
going to teach you a lot of stuff about yourself but one thing you need to try
and do is control your emotions - first of all you really don't want to get too
attached to any coin I mean it's easier said than done; I'm a huge fan of Neo
and I've been holding Neo through all the rough times I mean from when we were
really all the way up and now it's down, I'm still holding on to Neo
and this is just me being very passionate about the project and what
they're doing and I don't exactly recommend that for anybody if you can't
handle it. now I followed the rules, I only invested
what I could afford to lose and that's me, that's my own story. I understand that
a lot of people get very attached to certain coins so if you are attached to any
particular coin, let me know in the comment section which coin that is, it'll
be a fun topic. But the fact is it's really not wise to get attached to any
coin because if you're thinking of investing, you want to think of investing
in a very fluid manner. You don't want to limit yourself to anything and you don't
want to get too involved so definitely diversify your portfolio.
it's better to have five different coins that you invest in rather than put all
your eggs in one basket so if bitcoin is doing very well, you get to benefit from
that, if neo is doing poorly, then bitcoin may cover your losses and then if you
buy some Stellar or if you buy some Ethereum, I mean mix things up you know,
just monitor the markets and mix things up! follow the news! follow the hype!
subscribe to channels that give updates about cryptocurrencies and definitely
subscribe to this. one another thing to mix up is your wallet choices - personally
I use a lot of wallets; I have the regular blockchain wallet (blockchain.info), I have a Jaxx
wallet, i have an Exodus as well, I mean mix things up and this is because it's
important to consider that you may not want to leave your money on exchanges
and you may want to have your private keys and have direct access to
it, so do some research on different wallet types and also diversify your
types of investments so I mean you can find yourself in an index fund, you could
consider Bitcoin futures, just mix things up. Try different things and
see what works best for you and that is eventually gonna give you some success.
That brings us to the end of this presentation. I want to say a big thank
you to you all for watching. The Financial Drive-Thru is here because I
want to be able to help out and give you an edge in the cryptocurrency and
financial markets through up-to-date news, information and just basically all
the things that you need to get ahead in this space. I've made a couple mistakes
in my experience and it's my hope that through this channel you won't get to
make those mistakes. so definitely be safe out there, thanks for watching, don't
forget to Like and subscribe and once again, my name is Majesty Ibianga and I'll
see you on the next Drive-Thru, thank you.
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