Crypto for Beginners: $500 Guide — Full Transcript & Summary

[00:02] one thousand dollars on cryptocurrency, and only a professional trader or an ordinary person without experience and skills can do this. To begin with, let's see how much you can earn on crypto and how, even if

[00:15] you don't understand anything about it and you have zero experience. If you had bought one bitcoin in 2017, you could sell it now for forty-two thousand dollars, a net profit of $41 thousand. Simple math, not to

[00:30] mention that in 2021 it costs $67 thousand. What skills do you need to have to get such a result? Everything is very simple: buy, sell, and withdraw into cash, but to do

[00:43] this effectively and not waste money, you need to adhere to a number of principles. We will do everything on the largest exchange in the world, Finance, and our entire work would consist of only three steps. Lessons on how to register for Envy and

[00:57] withdraw money from Ben Once I left below in the description under this video, and here in the tips on how to understand what to buy, what to sell, and most importantly, when exactly to do this. For this, we

[01:09] will need the Coin Market Cup service. Remember it, it will Flashing throughout your future activities, here is a list of all currencies and their current prices and the entire history of their price changes. Why do you need all this at the

[01:22] price changes. Why do you need all this at the moment? This is the answer. Which cryptocurrency to trade? Those cryptocurrencies that are currently in the top ten are more likely not to merge. This is not the topic,

[01:34] you know, not soap bubbles that can disappear at any moment. This same information answers the question of how not to lose all your money with a sharp change in the exchange rate. There are different strategies for earning on crypto that do not require your

[01:48] attention and a whale of super skills. Some of them I leave below in the description. For example, the first is to give the crypto under management, that is, you give the person money, for example, at 30 percent, as left in the description, and you invested

[02:01] $ 10,000. After a year, you already have $ 13,000. The second option is to set up automatic copying of trades of an already successful, cool trader and receive only profit. A cool tool. The third option is to learn on your own.

[02:14] let's look at the simplest and most reliable scheme for earning on the ridge that You can already apply it yourself right now, we go to the coin market cup and look at the first 10 coins, we will work with them,

[02:28] I tell you right away that we exclude and do not trade these coins and SDT and from DC and To Stay was coins, this means that these coins are in fact dollars in the cream of the cryptocurrency world, you see, they are worth a dollar, that is, it is difficult to earn anything on them,

[02:43] so we open the first ten coins and basically I can say that I earn and trade on Bitcoin and films, we open and your task for a general understanding about each of the first 10 coins is to read what kind of coin it is, what it

[02:58] with each coin, we simply form a one-time understanding, the second, your task is to look at its price at the moment, here it is written here, it constantly jumps and its price for different periods is very simple and convenient for

[03:14] mere mortals to look at this, we have a period for a day, we look at the price for 7 days, and just hovering like this, we see that, for example, the price was 25 0 3 see that, for example, the price was 25 0 3 44 and here 18 0 3 the price was 40 thousand

[03:29] here, we would sell here 4 thousand dollars, we earned. It is also very important to look at an example for a year or for the entire period of time, so you understand at period of time, so you understand at least what kind of jumps this

[03:43] currency makes. That is, you could buy bitcoin here over the last year for 29 thousand dollars and sell for 67 thousand dollars. Here we have the dollars. Here we have the golden rule emerging: buy cheap, sell

[03:56] dear, always in any situation, no matter what happens. If you bought bitcoin for 40 thousand dollars, you should not panic and sell it sharply when it becomes 20,000 dollars. Just wait. It is important to understand that the coin remains with you,

[04:10] only its value changes, that is, you have not lost anything yet. You only lose rate. Now think about what those people felt, the panic-mongers

[04:22] who bought bitcoin at 40, sold it at 20, and went home and saw that it jumped to 67 thousand dollars. Okay, now the basket It all works out and how can we now buy, sell and make money on this? First, I'll show you all these

[04:35] actions as they are done mechanically and then I'll show you how to make 500 dollars from this. We enter the nominee trade, classic trading, and here it seems like a scary chart. Don't even look at it, forget about it, let's simplify. Our task is to

[04:49] pay attention. Only here in the right window you need to select the coins that we will trade and which we will monitor. At the moment, I have added Bitcoin and Ethereum. How is this done? Well, for example, if I want to

[05:01] happening with other coins. For example, here is an excerpt, this is Ripple. We go in and simply write x r slash n s d t. We equate everything to the

[05:14] dollar. Everything is here. Now we have selected it and put a checkmark for which we are monitoring. That is, we add all these coins that we want to trade to our favorites. Here, everything is very simple, its current price is immediately visible. The

[05:26] first step is to add to your favorites what you will buy and sell next. If you want, for example, to buy something, any coin at the moment, we definitely We're buying right now, we have a tab here called limit,

[05:39] market, stop limit. We'll only need 2 limits and market. Let's start by buying right now on the market. We're buying at the market price. How do we buy and sell it? We click on Ether so everything is updated. Here we have the

[05:53] Market and M tabs and we'll immediately buy at the market price. Let's say we need to buy $50 worth of Ether. Let's go straight to the Quantity tab. We select all of this in the Quantity tab. We select all of this in the price and we set it, say $50. You

[06:07] bought it right now for $50. It was instantly created. Where can we check what we did? Order history. This is, in fact, a transaction. We saw that we bought Ether now for $49.70. This is

[06:22] the commission taken at such-and-such a price. How can we sell it at the market now? If you want to sell the same thing right now, you click here for Quantity and we sold it right now. Now, sell Ether for $50. Everything is in the same

[06:36] Order History tab, but that's not the most interesting part. What's interesting is that it can be automated, that you didn't just sit and look at these numbers, what can you look at how it works with Ether. It's the easiest at the moment. I see

[06:50] easiest at the moment. I see that Ether is currently worth $3,136. I'm on the cocaine market, and I open a monthly tab and see that it was worth $2,502,600 there. So, basically, it's jumping. You can buy it now, but I

[07:04] jumping. You can buy it now, but I would buy it somewhere around $2,850. You can buy what we do. The limit tab. We give the exchange a task that when Ether is at a price of $2,850, it will only be worth that much. We buy it for a thousand

[07:19] dollars. We write this down: here's a purchase price of $2,850 for $1,000. We buy. Buy. What have we done now? What happened now? Here are the open orders. You set the exchange the task of buying this Ether for $1,000 when the price is $

[07:35] 2,850, and it will automatically buy it without you. As soon as it buys it, everything is great. You would have bought it cheaper. Then we set it together. For example, when the price reaches 3300, you set your own

[07:48] margins. For example, when the price reaches 3300, sell ether for a thousand dollars, buy it for 1000 dollars, sell it. We place an order. You have a limit order. We'll set a sell order. We also issue this order. Now our

[08:03] task is simply to monitor all of this. As soon as ether is bought, roughly speaking, at a price of 2850, you have it. As soon as the price reaches 3300, the diamond will be sold. We've earned the difference. An important rule is to record all your transactions that you

[08:18] made, whether you bought something or sold something somewhere, in the coin market cup. See how this is done on the coin market cup. We go to the portfolio and create a new portfolio here. For example, let's add a

[08:31] new currency now. Here, we can add a new one. For example, we select here, and yes, one of the people of the cardan is called abbreviations of hell. We select it. For example, we bought it at a price of 101, bought 100 pieces, and we bought and

[08:46] added this portfolio to ourselves. How it is displayed is ours. We find our Ada and see that the current price is such and such and since the moment we bought it, there has been such an increase. If we now want to add another operation, we click on it. Plus, let's say we

[08:59] sold 50 coins at a price of 1 dollar, we added a transaction in twelfth kopecks, and now we see that we earned 11 dollars. Now the best part is we look at all the transactions to see the whole history, click on three. I have

[09:12] a transaction here, here is the entire history of the transactions that we made on this crypto. That is, now look, you placed orders: bought cheaper, sold more expensive. As soon as you bought something, you go here to the order and

[09:26] bought something, you go here to the order and copy here the price is 3100 67, pasted it, and thus you will have all the statistics of your purchases and sales. earnings that I talked about at the very beginning? For example, look, on March 16th you

[09:43] bought ether (1 ether) for two thousand six hundred and fifty dollars and on March 22nd you sold it for 3000 30 dollars, that is, in six days you earned 380

[09:56] dollars. If you had bought two ethers, then over the same period you would have earned 760 dollars. This is a little off. The stated amount is 500 dollars, but I think you wouldn’t be too amount is 500 dollars, but I think you wouldn’t be too upset.