Finance

How to Buy Cryptocurrency Safely | Step-by-Step Guide

how-to-buy-cryptocurrency-safely-step-by-step-guide



You cannot afford to miss out on bitcoin and cryptocurrency investing any longer. I’ll show you step-by-step how to buy cryptocurrency safely, how to avoid crypto scams and how to make money with bitcoin, Ethereum and all the popular tokens. 💰 Get up to $250 in Bitcoin signup bonus on BlockFi https://mystockmarketbasics.com/blockfi

I use Coinbase to buy cryptocurrency then transfer it to my BlockFi wallet to earn interest up to 8.6% APY for as long as I invest! Get started on Coinbase and get free crypto https://mystockmarketbasics.com/coinbase

I’ll admit, I was skeptical about bitcoin and cryptocurrencies for a long time. I’ve jumped in when the price crashed and made some quick profits but it was always as a short-term trade rather than a long-term investment.

Then I looked at the actual long-term investment potential in digital currencies with a value forecast for bitcoin and Ethereum. Crypto isn’t just for hackers and criminals anymore. Legit investors and companies are starting to hold these tokens and it’s turning into legit long-term value. Companies have started accepting bitcoin as payment and the oldest bank in the U.S., Bank of New York Mellon, is now letting customers invest in crypto for their accounts.

Even after I was sold on the investment, I was still hesitant about buying cryptocurrency because of the scams and hacking you hear about. That’s why I wanted to research the best cryptocurrency platforms and how to invest. In this video, I’ll share what I found and how I’m investing.

We’ll start with how to avoid cryptocurrency scams…and be warned, it’s really bad here on YouTube. NEVER use WhatsApp or contact someone you meet in the comments section on videos. These are fake accounts set up to look like real channels and scam subscribers.

I also want to talk about how much to invest in cryptocurrency. I really do believe in this trend but you should never have more than 20% of your money in one single investment. Cryptocurrency and bitcoin is still very much high risk and you need to limit your total risk…just in case. I have about 5% of my total wealth in cryptocurrency and would recommend most investors keep it to 15% or less.

I’ll also show you how to find the best cryptocurrency platforms; the ones you can trust and the easiest to use. Then I’ll give you a step-by-step to buy cryptocurrency on the platforms I use. We’ll open a Coinbase account and buy bitcoin and Ethereum. I’ll then transfer it to hold in my BlockFi wallet so I earn interest while I invest.

Still not investing in cryptocurrency? Don’t miss the rest of the videos in our cryptocurrency tutorial series for beginners!
Two ways to value bitcoin and why it could go to $190,000 in a few years! https://youtu.be/hrTVtv-caiE
Price forecasts for 7 other cryptocurrencies including Ethereum, Litecoin and Stablecoins https://youtu.be/8IYNyn-QB_M
Bitcoin vs Ethereum: Which is the Better Investment? https://youtu.be/UWgWcsA8dSQ

The video is in partnership with BlockFi and I just started using the high-interest bitcoin platform and will be transferring my own bitcoin to BlockFi. Besides the industry-leading security and ease of investing in cryptocurrencies like bitcoin, Ethereum, Litecoin and stablecoins, you can earn up to 8.6% interest on your crypto. I’m really excited about the bitcoin credit card but there’s a huge waiting list so don’t wait to sign up here https://mystockmarketbasics.com/blockfi

0:00 How to Buy Cryptocurrency Safely
2:07 How to Avoid Cryptocurrency Scams
2:39 How Much Should You Invest in Cryptocurrencies?
4:43 Best Cryptocurrency Platforms
5:25 How to Buy Cryptocurrency for Beginners

#bitcoin #bitcoinprice #iworkwithblockfi

🤑 Get The Daily Bow-Tie – my FREE daily email newsletter sharing market updates, trends and the most important news! Market Updates for the Smart Investor! https://mystockmarketbasics.com/dailybowtie

SUBSCRIBE to create the financial future you deserve with videos on beating debt, making more money and making your money work for you. https://peerfinance101.com/FreeMoneyVideos

Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.

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Robert Dunfee

47 Comments

  1. Let's Talk Money! with Joseph Hogue, CFA
    July 14, 2021 at 10:17 am

    How high can the price of bitcoin go? My analysis and a price target as high as $190,000! 💰 https://youtu.be/hrTVtv-caiE

  2. loski november
    July 14, 2021 at 10:17 am

    Isn't bitcoin suppose to be money ?? Money is not a investment !! Money should be stable in value. bitcoin is none of this. The name implies it's money, but its not. CONCLUSION……BITCOIN IS BULLSHIT AND WORTHLESS.

  3. Ross Schneider
    July 14, 2021 at 10:17 am

    Great information, but not 100% accurate in reference to setting up a Coinbase account. If you live in NY, you're going to have to enter address, DoB, social security…everything. Not a deal breaker for most, but I just wanted to clarify for New York residents when opening up an account. Regards.

  4. Clara James
    July 14, 2021 at 10:17 am

    I got wind of this 5 months ago, and as a known risk taker, I dabbled into it straight away, investing in the 4months plan. Right now, I am on reinvesting on the 30 days plan because I now know for sure it works

  5. Janet Lis
    July 14, 2021 at 10:17 am

    I want to buy XRP is this the same way

  6. Zach Savage
    July 14, 2021 at 10:17 am

    And now blockfi has reduced there interest payouts

  7. Hannah Doomsday
    July 14, 2021 at 10:17 am

    This was an amazing video and I’ve really learned a lot but I’m new at this and I’ve been having a hard time trading, what platform should I use? Robinhood hasn’t been really helpful

  8. Cristian Popecu
    July 14, 2021 at 10:17 am

    I need your judgment one more time, dude. Found some info about Kianite. As I got it, they focus to create a DeFi protocol that is controlled by a single coin. Should I join them?

  9. Michael Biasatti
    July 14, 2021 at 10:17 am

    I just tried signing up with BlockFi and it requested my social security number. But when I registered for CoinBase it never requested my SS #. Seems odd.

  10. Erik franco
    July 14, 2021 at 10:17 am

    Yesssssiir !!! 💪🏼💪🏼

  11. John Daly
    July 14, 2021 at 10:17 am

    Joseph, there are fees involved in transferring cryptos from coinbase to bockfi – which are substantial.

  12. Nathan Batten
    July 14, 2021 at 10:17 am

    It's funny seeing the scam comments on this video.

  13. Lea Wakeman
    July 14, 2021 at 10:17 am

    I’m confused. I have a Coinbase account and I needed to upload my passport photo to verify. I’m in the UK???? Can I have blockfi in the Uk?

  14. timothy hirsch
    July 14, 2021 at 10:17 am

    heard coinbase has superbad customer service any question including suspensetion of account it happens a lot. you get no answers or if you do its after months and not properly address please approach with caution on buy/sell on coinbase

  15. Rich Nokes
    July 14, 2021 at 10:17 am

    !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  16. Rich Nokes
    July 14, 2021 at 10:17 am

    !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  17. StormCloud -
    July 14, 2021 at 10:17 am

    8:00 I think the most important thing about cold wallet is to safely store your private key (the 24 words). Because even if you lose the drive or it gets damaged, you can get a new one and recover your assets from the blockchain with your private key.

  18. Rebecca Mayse
    July 14, 2021 at 10:17 am

    I noticed you said the fees on Coinbase were 1.49%, which I don't believe is correct. They say they charge a spread, first of all. In addition they then have the variable percentage fee of about 1.49%, but they also have flat fees, and they will charge whichever is larger. For instance, as they show on their website, for a purchase of $100 of bitcoin they would charge $2.99 because it is larger than the variable fee of 1.49%. They only show up to a $200 purchase, so maybe purchases above that are 1.49%.

  19. MikeD720
    July 14, 2021 at 10:17 am

    For the ones that need SSN info and stuff are the most regulated fintech companies like Gemini and have to folow KYC (Know Your Customer) Laws in the US

  20. lnrdlar09
    July 14, 2021 at 10:17 am

    Just reported some of those scam comments pretending to be you.

  21. Wynn win
    July 14, 2021 at 10:17 am

    Thanks for SSOK sunstock inc. Up 25 % really quick since ur recommendation.. Bow tie Nation!!!

  22. kishore sajjanshetty
    July 14, 2021 at 10:17 am

    that was the most needed video sir thank you . i opened the account with BINANCE , is this platform safe to buy bitcoin ? thanks in advance.

  23. 9toez Dennis
    July 14, 2021 at 10:17 am

    Another great video joe 👏👍

  24. Stella Daka
    July 14, 2021 at 10:17 am

    Please help me lcan send money how about 150.please tell me

  25. PiG0
    July 14, 2021 at 10:17 am

    I use block fi as well, but I do think it's deceptive to tell people that they do no fee trading. that is not true, and they actually charge more than a lot of places.

  26. Gustavo Schaefer Gomes
    July 14, 2021 at 10:17 am

    You're the man, Joe! Great channel

  27. CarsGuns&Freedom
    July 14, 2021 at 10:17 am

    What are the downsides of blockfi tho

  28. Stones Jhonson
    July 14, 2021 at 10:17 am

    Most intelligent words I've heard.,

  29. badejong
    July 14, 2021 at 10:17 am

    I watched many of your videos and yhey are quite interesting. After leaving many likes subscriber gained… 👍👍👍

  30. vibe central
    July 14, 2021 at 10:17 am

    thought you should know that an account with the same username as yours on Instagram (but subtract the s from lets) is trying to scam people, I sent you a dm about it

  31. Dan Yokemick
    July 14, 2021 at 10:17 am

    Dogecoin to the moon 🚀🌙 🐶

  32. Kri Artinian
    July 14, 2021 at 10:17 am

    Buy SafeMoon coin now!!!!

  33. Michael Pippin
    July 14, 2021 at 10:17 am

    Glad I made it in the video.

  34. peter hall
    July 14, 2021 at 10:17 am

    Great video, thanks. One question… say you put 1000usd of bitcoin into block fi and you're earning interest but while it's in there the price doubles. Do you still get to benefit from the price going up or would you only get the 8% interest?

  35. Absolute Mad Lad
    July 14, 2021 at 10:17 am

    Love your channel.

  36. Peter Pan
    July 14, 2021 at 10:17 am

    Hey Joe. What part of Iowa are you from?

  37. Paul Fiedler
    July 14, 2021 at 10:17 am

    So on a $2,500 buy of Bitcoin Coinbase immediately nailed you for a $36.70 fee?

  38. Derek Moore
    July 14, 2021 at 10:17 am

    Great info. What do you think about XRP?

  39. 52msdiane
    July 14, 2021 at 10:17 am

    Thank You! Is there a difference between Coin base and coinbase Pro? Can we earn interest on both Btcn and Eth? How safe is hot wallet? 👏

  40. Lewis
    July 14, 2021 at 10:17 am

    Joseph, set up the Google authenticator or another authenticator application 2 way authentification for your account, everyone should do that. I'm warning you because of what is called a Sim Swap attack. Using the SMS is NOT secure. Thanks a lot for your video and have a fantastic day everyone. 🙂

  41. Mijagi1976
    July 14, 2021 at 10:17 am

    How much is the interest on ETH on BlockFi?

  42. bucs03fan
    July 14, 2021 at 10:17 am

    What about NYS?

  43. Louis ralph Carl
    July 14, 2021 at 10:17 am

    Bitcoin is the future ,investing in it now is the wisest thing to do now especially the current rise
    Despite all the economic crisis this is the right time to start up an investment. It's no surprise a secure global and digital currency has claimed the interest of investors. It's open to everyone and provide an exciting opportunity to delve into an entirely new asset class.

  44. Jai Yunsu
    July 14, 2021 at 10:17 am

    The humble very happy all you have done for my clearing sir @fredycrypto my bills text on Telegram

  45. Angel Arizaga
    July 14, 2021 at 10:17 am

    Thanks a lot for your most valuable advise Devil Dog!

  46. Jaylen Walker
    July 14, 2021 at 10:17 am

    Risk management is a vital element of success for any tradr in any mar ket No matter the size of the cap ! tal you're trad ! ng with or investing in , losses are going to be inevitable , particularly in highly volatile mar : kets like crypt0currency . Learning how to manage risk to minimize losses is v ! tal . Yet , it's also necessary to master risk management in order to ensure maximum gains . After all , the more you're willing to risk , the greater the potential reward . I'm not a pro tradr but I was lucky enough to make 8'B'T'C since late last year following the instriuctions and s gnals from Keaton Jasson. He runs program for investors / newbies who lack understanding on how trad ! ng Bit : coin works , to help them utilise the volatility of the crypt0 mar : ket and also stack up more b ! tcoin . You can easily get to Keaton on tel qram @KeatonExpert for Crypt0 related issues

  47. ScoobyDoo
    July 14, 2021 at 10:17 am

    Are these platforms available for Canadians also or just US residents ?