Episode Highlights:
- 00:03 – Tutorial For Buying And Selling Bitcoin
- 00:59 – Reason To Show Tutorial
- 01:50 – Steps To Start Bitcoin
- 03:13 – Securing Account
- 03:52 – Viewing Coin Base Account
- 05:16 – Dashboard
- 07:51 – Payment Methods
- 09:19 – Start Buying And Selling
- 12:10 – After Making First Transaction
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Transcription:
Hey guys its Dan from CryptoCamacho.com
00:03 – Tutorial For Buying And Selling Bitcoin
Today want to walk through a coin base tutorial for you, I want to show you how you can get started buying and selling Bitcoin today right now, it’ssuper easy if you use coin base you’ve probably heard in the news and the media different ways you can buy and sell bitcoin you can trade bitcoins so forth and so on. But nothing makes it easier than coin base and I will show you why in just a moment here. So coin base has been around for several years now definitely for the last five years it has become one of the mostpopular avenues that people go to actually start buying Bitcoin because its easiest, it’s very easy to use; that’s the reason I chose coin base myself is because it’s so easy to get started, it’s nottechnical you don’t need to be a rocket scientist, you don’t really need to knowhow to, do trade and you thinkof Bitcoin you don’t even know how block-chain works you could literally sign up and put a payment method like acredit card and you can actually buy Bitcoin with your credit card today right now.
00:59 – Reason To Show Tutorial
The reason I want to showyou this tutorial now, is because I’ve been talking a lot about trading Bitcoin. I’ve been talking a lot about how youday trade and how you position tradecrypto currencies but I haven’t actually gone through and show you howyou actually buy Bitcoin right so you can either buy Bitcoin or you could mined Bitcoin right. Those are essentially the two ways you can get Bitcoin today, there are others but thoseare the two most popular ways to get Bitcoin today you buy it or you mine itmost people that are not technical theydon’t typically jump into Bitcoin miningright away right they want a quicker wayto start buying and selling Bitcoin and coinbase is that easy way to do it. It’s exploded in popularity because of its ease of use and you can see just by looking at the website here how straight forward it is right you literally just have to sign up and you can start buying and selling so let’s jump right into it now and I will go through how exactly you buy andsell Bitcoin.
01:50 – Steps To Start Bitcoin
First you’ll need tosign up right so you click on the signup button right here and it’ll ask you for your basic information your firstname, your last name, your email address your password your state and if you’re a robot or not. Once you complete this step right you can go ahead and start enabling your settings, start enablingtwo-factor authentication, input your credit cards you can actually find some Bitcoin and so forth. I’ve already done this piece I’m not going to go through this is prettybasic but this is essentially how youcreate an account and you’ll be sent anemail after you sign upon that email you’ll have to click it to activate your account you’ll put in aspecial code to enable your account andthen you’re off to the races right soI’ve already done that. I’m going to go ahead and sign in andI’m goingto go ahead and email address here all right and I password and let’sgo ahead and sign in. Now, what Ineed to do and I will show you thisreally quickly here, but I need to inputmy two-factor authentication code andwhat that really means is that I have anapp on my phone and every time I want tosign into coinbase or even other exchanges I need to put in this sixdigit code into this two-step verification process so that I can getinto my account.This is extremely important to prevent hacks, to prevent other people from getting into your account right.
03:13 – Securing Account
There’s been a lot of news in as of late hackers getting into Bitcoinaccounts stealing Bitcoin or stealing ethereum whatever; you don’t want that tohappen to you and one way to secure thatis by using this two-step or two-factorauthentication method.So here itis I don’t know how well you can seethat but I have my app on my phone, I’m going to go ahead and put in that six digitcode in here. I’ll probably do anothervideo about this at a later point intime to give you a bit more clarity onhow to actually set this up but for nowI’m just going to go ahead and put in mycode 9 3 4 and verify it and that should let me in okay so now it’s load nut let’s get into my account this is my coin base account right here right.
03:52 – Viewing Coin Base Account
Soyou can see right out of the gate thatthey you know they tracked Bitcoinethereum and litecoin.So on coinbase you could buy any one of those 3 cryptocurrencies Bitcoin, ethereum or litecoin. They’re talking about adding dash, adding Manero and this will grow over time but right now it’s limited to these 3 cryptocurrencies which is great because in thepast it was limited only to Bitcoin andnow it’sethereum and litecoin as well. So it’ll show you theBitcoin price the currenttrading price it’ll show you the lastprice as of the last month last week, last day, last hour and in the last monthwe’ve seen Bitcoin go upabout 10% and look at this and just forkicks, in the last year we’ve seenBitcoin go up almost 600 percent that’scrazy in one year that means that if youwere to put in a thousand dollars a yearago you would have almost six thousanddollars today from one single Bitcoinright. So now is the time to start trading this stuff now is the time to buy Bitcoin right the price is aroundfour thousand there’s talk speculation that it’s going to go past five, it’s going to go past ten so forth and so on it has already gone up to five it’s gone backdown because of the ban of China. Banning ICO is banning cryptocurrency exchanges so forth but theprice is going to continue to go up andif you’re remotely interested in daytrading or trading cryptocurrencies at all you know don’t worrytoo much about the price because there’s many other ways to make money other than waiting for the price of Bitcoin to go up.
05:16 – Dashboard
Anyway, here’s your main dashboard it’ll show you your portfolio how many dollars you have, how many like point, how many theory on how many Bitcoin and what your account looks like down here. First things first, before you start buying and selling Bitcoin let’s go ahead and take you to the security settings I want to make sure that youset this up properly that so that youdon’t have any problems in the future. First thing that I would do once I’ve signed up for up for coinbase is; I would go to the Settings tab, I would go to the Security section over here and I would enable two-factor authentication and I would add anadditional phone number to your phone numbers, if you ever lose your phone. If you’re using two-factor authentication to sign in and you lose your phone its going be difficult to get back into youraccount unless you’ve written down and secured the C number-the code thatthey’ve given you when you signed up for coin base which I highly recommend you do. You will not be able to get into your account so add an additional phone number to your account; if you lose your phone you’ll have a secondary phone thatyou can go and you’ll prove that it is your account so do that first.
Second, go down to two-factor authentication and enable this right here, basically when you enable it you’ll enable it it’ll give you a picture of a QR code and or a seed number you’ll enter that into your device, into your Google Authenticator app you’ll add that or you’ll take a little picture of the QR code and when you do that it’ll generate a number that you saw similar just like Ijust showed you a second ago which looks something like this you’ll get aspecific number a six digit number for coinbase and once you scan your QR code here you’ll be done you’ll be off to the races and ready to go. So do that second right I don’t know alternative phone number and then enable your two-factor authentication andyou’re good to go. The next step is to goback up go to payment method, so you’re going need this to buy your firstBitcoin you can either connect using a credit card or you can connect using your bank account in order to buy and sell Bitcoin. The easiest way or thequickest way is to use your credit card and that’s what I did I first signed up coinbase and then I added my credit card as a payment method and I was able to buy some Bitcoin. Now if you do this you’ll be limited in terms of the amount of Bitcoin you can buy, but I think they give you a limit at something like a thousand or three thousand Bitcoin maybe it’s five hundreddollars, it’s like five hundred dollars to a thous and dollars Bitcoin you can buy using your credit card and I recommend that’s all you start with anyway until you get used to day trading cryptocurrency you get used to kind of how the game works. I’d recommend you start low buy five hundred dollars or less, thousand dollars or less a Bitcoin to get started.
07:51 – Payment Methods
So this is what you would dohere you’d click on add payment methodyou’d go you know and you get all these options you can add a PayPal account, you got a bank account or you could add acredit card, again I would add a creditcard it’s the easiest way to do it you could buy instantly the versus a bank account where you have to wait four or five days, you could use a credit cardand you could buy it instantly if youwant to sell Bitcoin.Furtherdown line you can add a PayPal accountyou could sell Bitcoin it’ll be deposited directly into your PayPal account instantly. So let’sgo through an instant buy with credit card; you click on that you literallyjust add your credit card information right here you go next and you will be able to start buying and selling Bitcoinand your payment method will be out of here I’ve since added a bank account because I wanted to deposit larger amounts of money and buy more andmore Bitcoin and so I did that now but Irecommend you start out with a with acredit card like I said.Once you’ve beenable to paint a method once you’veenabled your security settings you can go forward you can addor update your preferences, update yourprofile information and so forth but essentially you’re good to go. One thing I want to point out here isthe limits so your limits will probably look a little bit different than my limits on coinbase when you first start I believe when you first start you add a credit card your limit will be $500 or$1000 over time that will increase coinbase does this to prevent fraud; theydo this you know for all sorts ofreasons but the primary reason is toprevent fraud and from people taking advantage same thing on the south.
09:19 – Start Buying And Selling
Anyway, once you’ve enabled your payment method and done these things nowyou can go and buy and sell Bitcoin. Click on over to the buy and sell taband you can decide do you want to buyBitcoin, do you want to buy ethereum or do youwant to buy litecoin. I recommend youstart out with Bitcoin because it tends to be the most secure or talked about as being the most secure cryptocurrency, it’s the first cryptocurrency that evercame out, it’s been around the longestit’s been mined the most, has the largest market cap, it’s used by probably the mostpeople so I’d recommend you go with Bitcoin.If you go with ethereum that’s fine, but the price is a littlebit more volatile, litecoin a little bit more volatile Bitcoin I’d say is the least volatile and so I’d start there and some things that people don’t. I was talking to a buddy mine the other day actually and we were talkingabout Bitcoin and he doesn’t know too much about it, he’s like gosh I don’t have enough moneyto buy Bitcoin it’s just too expensive it’s like four thousand five thousand dollars a coin I don’t want to buy a single coin for that much andwhat he didn’t realize is that you can buy fractions of Bitcoin you don’t haveto buy a whole coin, that’s a common misconception that I’ve heard from many newbies that I’ve never been in this space they don’t think you could buy a fraction of a coin.
In the stock market if a stockis twenty-five dollars or a hundreddollars or a thousand dollars that’s theprice of the stock you can’t buyfragments or incremental portions of thestock; unless you’re usingsomething like a motif but you can’t dothat. But with Bitcoin and crypto currencies you can, you can buy five dollars worth of Bitcoin you could buy ten dollars worth a Bitcoin if you wanted to right and so just keep that in mindand know that’s possible that whenyou’re buying Bitcoin you don’t have to buy a full coin. So as an example if you get started, let’s just say Iwant to you know use my credit card tobuy Bitcoin, I’d say buy Bitcoin click on my credit card in my weekly limit right now is $3,000 Icould buy the max and if I were tobuy $3,000 worth of Bitcoin it translates that into point six eight worth the Bitcoin it’s not a wholeBitcoin it’s a fraction of Bitcoin butit’s $3,000 worth of Bitcoin given thecurrent price today for Bitcoin andthat’s all you really do; you put in theprice here and you click buy instantly by $3,000 with a Bitcoin. You can also repeat this by right because this you’re limited on three thousand weekly- three thousand dollars or the Bitcoin but every week if you wanted to you can repeat this by and so you can kind ofset that at play with that if you wantedto but you don’t need to use that upfront. Anyway, once you purchase Bitcoin here what will happen is they’ll give you record of your transactions and then you will see your Bitcoinin your wallet, so coinbase does have the option of having a wallet it has a Bitcoin wallet, an ethereum wallet, a lite coin wallet and a FTY USD wallet as well which you’ll see here on the left hand side.
12:10 – Making First Transaction
So right here it’s very important to keep in mind once you make your first transaction you’ll see the value of your Bitcoin right here and let’s jump into this real quick I’m going to go dig into my Bitcoin wallet a little bit more. If you wanted to send Bitcoin you could do that right here if you wanted to send Bitcoin to an exchange you click send if you wanted toreceive Bitcoin from an exchange you want to say transfer Bitcoin from an exchange to your coin base wallet you do that right here. I don’t have anythingcurrently in coinbase I’ve sent it all to the exchanges and I’m trading with it daily so I don’t have anything here I can’t actually send it through but hopefully this gives you a good idea of how to do that.
So this isthe easiest way to get started buying and selling and trading at Bitcoin use coin base go sign up today, put in a small amount if you’re worried put in 100 hours put in $50 if you want to put in asmall amount of money into Bitcoin buy it and I’ll show you how you can transfer your money, your Bitcoinfrom coinbaseinto the exchanges to start doing day trading like I’m doing on a daily basis now. You will be amazed at how fast you can you can start making gains and really increasing the size ofyour account by just trading small trades every day, there’s opportunities every day and I wanted togive you this tutorial soyou knew how you had to get started it’s really not that difficult to get started you can sign up to coin base and fund your account in less than an hour probably literally less than 30 minutes you can have this entire process done it’s quite easy so please go forward and try to do this, I promise you won’t be disappointed start small if you’re nervous if you’renot start big and once you get past this first step everything else kind of falls in place.
I’ll just keep going onthis journey. I’ll show you fromhere where you should go how you should trade so forth if you have any questions about coin base let me know I’m happy to answer any questions. If you have anyconcerns you know about the risk or anything like that let me know I’m happy to answer any questions; I’m also happy to walk you guys through anything that you may not have seen on this video because I know it’s a little bit intimidating when you’re first getting started it’s a little more technical youdon’t know a Bitcoin is you don’t know how to use it you don’t know how to trade it you don’t know it exchange it there’s a lot of risk so I’m so oncoinbase eliminates that risk so check it out try it out and if you if you would click on the coin base link below this video and you don’t take you to the page to sign up and you can get started today. Okay. Hopefully this was helpful and I’llsee you next time this is Dan from CryptoCamacho.com see you guys.
