Bitcoin How To MASTER The Game [2020]

Bitcoin is a game. And you either master Bitcoin or Bitcoin masters you. And Bitcoin is a cruel master. So you make sure that you are the one in the driver's seat. Now this video will share with you some things that you must know in order to master the game when investing in Bitcoin. And yes, yes, there is a big world of cryptocurrency out there. But this

video will only discuss Bitcoin because Bitcoin is like the index fund of crypto. So it is the king of the markets and the movements of Bitcoin largely dictate what the wider crypto market will be going through. That is why my personal crypto portfolio is always at least half in to Bitcoin. And why Bitcoin makes up the cornerstone of most crypto investors portfolios. And yes, of course,

there are many investors out there that only invest in Bitcoin. Now this video is aimed to give you some practical tips. That you will be able to implement to be able to succeed and to master the game of Bitcoin. By the way, if you are new to crypto and you're still trying to work out all of those basics, like what the heck is Bitcoin anyway or

things like how and where do I buy Bitcoin? Where do I keep my Bitcoin and all of those other beginner questions, then you need to check out my course crypto currency explained. It is designed to take you from zero to being able to confidently take your first steps into Bitcoin and cryptocurrency investing. There is a link down below that you can click on to learn more.

Now before I give you a list of all the practical tips for how you can master the Bitcoin game, I want you to understand why Bitcoin is so important in 2020. Every fiat currency is on a trajectory to zero to being worthless. That's the yen, that's the pound, that's the dollar, that's the euro. All of them are critically flawed and they will slowly head to a

relevance over time. Some will go faster than others, but as this crisis grinds on no fiat is safe. While these more powerful fiat currencies, they have been able to maintain the shirad a lot longer than the others around the world. People just like you have woken up to the pain of terrible banking crisis all over the world where they see their life saving just evaporate. And

the retirement funds worthless. And when they go to the bank, sorry, you can't have your money today. The current crisis has really, really underlined the lengths that governments and the unelected officials that are running the central banks. They are willing to go to to print money into infinity. Hyper inflation remains an actual possibility for many of the world's top fiat. And every time they print a

new dollar or a new euro, they steal from you. Negative interest rates slowly creeping in across the globe. That is of course when you lose money by keeping money in a savings account. They just take money from your savings account. It's crazy. Global debt. It is a real good and truly out of control. Some estimates are putting it as high as $250 trillion dollars. Those are

from last year. Those estimates is probably higher considering the crisis by the end of the year. It might be well, well above that. And around the world, we are seeing an increasing amount of cash ban laws being passed that basically criminalize cash purchases over what can be as little as just a couple of thousands of dollars makes you a criminal, punishable by fines or jail. And

currency of course is Bitcoin. And of course, it's Bitcoin. And what follows are some practical tips that you need to know when you're investing in Bitcoin. The first be in the game. Do not stay on zero. Bitcoin is an incredibly scarce asset. You'll need 0.28 Bitcoin to be in the top 1% globally. Now over time, investors who have added even just a small percentage of Bitcoin

to the perfect. I'm talking like 1% of your investors have significantly outperformed investors with 0% Bitcoin in their portfolios. Now to reduce the stress of trying to buy Bitcoin at the perfect time. The most common method that Bitcoin investors use to get Bitcoin is $2 cost average. Simply just buying a set amount every other week or once a month, whatever it might be. So for example,

it might be $50 with a bit of money. Bitcoin every time you get paid on payday. This simple and very effective method gives you price exposure across a range of different timeframes. And over time gives you a lower average buy price compared to someone who just goes all in on Thursday or whatever a random day might be. Now the next thing they must be super, super

aware of is fees. Both the buying fees. And the withdrawal fees on the market. So in the end, the most common method is to buy a set amount every time you get paid on exchange. But particularly let's talk about buying fees because overpaying now even 1% that will cost you big time in the long run. The only reason to pay higher fees when you're using like

a broker service, for example, since you actually get personalized service and a whole lot of extra value ads on top of that. Otherwise, if you're just trying to use an exchange, then there is no reason to be paying over 1% in fees. And some exchanges like Coinbase, they can charge much, much more than that for the use a card, for example, to buy your crypto. And

do understand that buying crypto using a card that will always be more expensive. You'll pay much lower rates by sending bank transfers to an exchange to buy Bitcoin. Now you should be able to get fees as low as 0.2 or even 0.1% for your Bitcoin purchases. Pay much higher than that. I'm sorry, but you're getting robbed in that situation. And you may say, oh, but come

on, like 3% isn't that bad. It's just so convenient to pay with my card. You're doing a disservice to future you. Those high fees, they really compound over time. Which leads me on to my next point. So, if you're a friend who has Bitcoin and they want to, away to easily spend their Bitcoin profits, well, you know what you can do? You can tell them to

sign up for a crypto.com debit card. Just like this one. Using your link. You will get $50 in crypto and your friend will also get $50 in crypto after they purchase a Ruby Red Tier card or higher. Basically, a win. Win. It doesn't matter. You'll get a good one. It's not really a bad one. And I'm sorry. You can't buy crypto. It's not a bad one.

I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. My first thing to say is that I'm sorry. My second thing is that I'm sorry. My second thing is that I'm sorry. And this is a money card. You can get a good one. I think, you know, no one has a good wallet. There's no problems with this. I'm sorry. My wallet doesn't get much

better than that. By the way, if you still need to get a card, then there's a link down below. You can click on to check out these cards. They are now shipping to Australia, to New Zealand, to the United Kingdom, most states in the United States and soon all across the European Union. Now, the lesson here. Never be afraid to recommend a good service to your

friends or to your co-workers. You both win. And if you don't do it, then you're basically throwing money away, which is silly, obviously. And also on that topic, if you have a skill that you can monetize, accept Bitcoin for that skill that we are trading time for Bitcoin, which is a good trade. The next incredibly important thing to remember is to hit that like button to

appease my masters over at YouTube. Anyway, let's get serious and talk about taxes. I know. I know damn the man. Taxman. But seriously, bear taxes. Or men with guns will show up to your house and make you pay those taxes, which is definitely not cool. Definitely not cool. Sadly, though, many jurisdictions across the world have totally inadequate tax laws that are very vague and do not

really go far enough to give people that certainty and investing in crypto. to get in trouble. Because you're just too lazy to go out and find a good way to get in trouble. Because while the regulations on crypto taxation may not be clear, there is one thing that is definitely clear. The tax man. He wants his cut and he'll get it. So don't play around that

stuff. The other thing that is as certain as taxes. Death. Yeah, it happens to all of us. Even Chuck Norris is going to die someday. I know it's great. Look, I guess that remains proven to be seen if Chuck Norris can actually die. But everyone except Chuck, you're going to die. I'm sorry, but it happens. Now, obviously many of us will hope that we'll have time

to get all of our affairs in order before we die. You're going to have months to plan for your return to the cosmos. You can take care of all these little details. But death can come at any second. And it can come from the most unlikely of places. I mean, you can be hit by a bus. Buses are super dangerous, man. You can fall over on

a sidewalk. Crazy. Boom. Dead. Maybe get kicked by a donkey, man. Dead. Or, of course, you know, you tie the belts a little bit too tight during some, you know, self-induced erotic asphyxiation. It happens. It happens, you know. But no matter how you go, it's going to happen one day. And when that day comes, your loved ones will either be able to access your Bitcoin wealth

or they will not. Because you didn't tell them how to. So make a damn plan. Tell your wife and your kids how to recover your Bitcoin. Or maybe just leave a letter instructing them where your passphrase is for your ledger, along with instructions on how to sell that as part of your will. Whatever your strategy, however you choose to do that, make sure that you do

have a plan for it. And that you let people know. Okay. Now I'm for a topic just a little bit lighter than death. We're going to talk about lending. Never under a word. So, what's your estimate? The exponential power of calm pound interest. Crypto in general. It's had a kind of tough run in the early days with these fake lending schemes, which were nothing more than

straight up Ponzi scams. But now in 2020, we actually have multiple companies which are offering real services in realistic competitive rates. We have companies like Celsius or like Nexo or crypto.com. These are all great options to lend out your Bitcoin or even your dollars and get a steady income. But the one that I would like to most recommend is BlockFi. BlockFi has no minimum deposits. There

are no lockup terms for your crypto. It is a highly secure exchange secured by Gemini's custody services. Has one free withdrawal a month. And now you can do direct bank transfers to get cash onto the platform. And there is no crypto token required like a lot of the other services. So for all of these reasons and more, BlockFi is one of my favorite places to lend

out my crypto. And they just brought their Bitcoin rate back up to 6% a year. Nice. So you can leave your Bitcoin to earn nothing on an exchange or of course in your wallet, which is the more secure place to keep it. Or you can get it activated and start earning 6% a year over on BlockFi on your Bitcoin holdings. Alternatively, if you don't want to

leave your Bitcoin on a service like BlockFi, but you still want to get exposure to crypto, but you want to keep your cash position. You can actually lend out your cash over on BlockFi and get paid 8.6% either paid out in cash or paid out in Bitcoin. So this is actually a nifty little trick to accumulate some Bitcoin. So you get 8.6% paid out on your

cash. But then you can have that paid out in Bitcoin interest. And of course, then you can withdraw all of your cash when you're done. So you're not risking your capital in that way. You're just parking your capital and earning Bitcoin as interest. Then of course, once you have that Bitcoin, and queuing in your interest account, then you will also earn 6% interest on the Bitcoin.

That's sitting there. So really just winning all around. Remember, make money your slave instead of being a slave to money. And as a bonus, until the 10th of April, BlockFi has a special offer for all of you who are part of the crypto-lark community. So if you sign up using the link, down below and deposit $250 or more worth of crypto and hold it on your

account for three months, then you'll get a whopping $50 bonus paid out in Bitcoin. Pretty cool stuff. Now this offer is only valid for new users and only using the link down below. Get that free money, guys. Free money is free. Okay. Next up, understand the truth about many of the alt coins. Many of these coins hold little to no value. And their only purpose is

to get more Bitcoin by flipping them basically. Sorry, but that is the harsh truth for a large percentage of the alt coin market. That being said, of course, there are some really awesome coins out there. Some really amazing cryptos that have made very important contributions to the entire cryptocurrency economy. There are cryptocurrencies that have great revenue models for token holders and can be very, very lucrative

to her to hold on to. And of course, there are cryptos that have amazing features like we see the privacy technology from a narrow, for example, but the majority of crypto currencies which exist have no future. 90% or more of them will fail. Pretty similar rates to startups actually in startup industry. It's not so different in crypto, but there are cryptocurrencies like Ethereum and Binance token

and Monero and Chainlink and basic attention token and engine. These are some really great cryptos and great fundamentals. Those on a bunch of others, they have a real long term potential. For example, for me, I love Ethereum. Ethereum is a long term hold. And yes, a lot of coins are going to outperform Bitcoin in the short term. But long term Bitcoin is the steady survivor. So

you have to understand the risk and reward and manage those risks when investing outside of Bitcoin. Okay. I'm an next tip here for you. Here's the game you need to play. It's called don't lose your Bitcoin. There are only ever going to be 21 million Bitcoin. It's an absolute maximum. Four to six million of those Bitcoin are already lost. So understand the risk to reward when

you considering trading. Understand that the majority of traders do lose because they have no idea what the heck they're doing. Warren Buff has got a great quote on this. He said his rules of investing rule number one, never lose money. Rule number two. Never forget rule number one. Trading is definitely high risk for a lot of people. For all coins, it can be quite high risk.

It's even higher risk for margin trading. Understand that. Even though you see all people posting, like, I made so much money trading. You don't need to do it. If you don't know how to trade, just buy and hold Bitcoin. Yeah, sure. There's traders out there make a money. But if you don't know how to trade, you're not willing to take the time required to learn how

to do it. Don't do it. Just stack, sats and chill. Simple. And finally, a word about the market Bitcoin. It is a wild, wild asset. And every single day, we can get shaken out of this market. People just throw in the towel and walk away. Some of these people came in. They're expecting overnight riches. Sorry. But you came to the wrong place. Some of these people,

there's unable to bear a five or a 10% drop in price. You're not going to last long in Bitcoin. If that's your point. Understand that the market moves in cycles. Prices fluctuate up and they fluctuate down. Sometimes dramatically on a daily basis. The very volatile market is famous for that. These falls are normal and predictable. Don't be afraid of them. Lower your time preference. Bitcoin is

an escape from fiat. Bitcoin is really more of a get rich slow kind of thing or a freedom thing even. And of course, the most important thing of all that I want to lead with today, realize that the true wealth is emotional wealth. Because in the end, what we really want from investing in Bitcoin are the emotions that will give us the sense of freedom, security,

comfort. Those are the things that we believe money will give us. Or of course, just the joy that comes from sharing our wealth. The pursuit of riches should always be in service of these higher ideals. Always remember to have that gratitude for the fact that you're actually able to have the income to be able to invest in Bitcoin in the first place because many of our

fellow earth dwellers, they do not. It will never have this great privilege. And a life rich with gratitude and love, that's really the end goal for all of life really. Because regardless of how rich you get, if you are miserable, then I'm sorry, but you lost the game. Anyway, those are just my two satoshies. My quest for the future is to be a great place for

you. What other tips do you have for those who are new to Bitcoin and are looking how to master the game? What do you wish you had known when starting out that would have helped you master the game? I know there's a lot of experience out there in the audience who would love your insights post down below in the comment section. If I were one who

is looking for insights head down to the comment section. I know there's going to be a lot of just great nuggets of wisdom shared down there. Thank you so much for watching this video. As always remember that you are awesome. So thank you so so much. I hope you're having a great day. Stay in safe out there. In spite of all the craziness that we see

going on. If you did enjoy today's video, thumbs up. But we'll be super, super appreciated. Make sure to subscribe to the channel if you're new around here. Long live the blockchain. And peace out. Until next time. Bye.