Crypto Investing #58 – How To Invest In Bitcoin & Cryptocurrencies For Beginners

Tai Zen: What’s up, guys? This is Tai Zen. I’m riding with Skinny over here. Say hello Skinny.

Skinny: Hello, hello

Tai Zen: And this video, guys, I was talking to Skinny here.

The other day as we were driving around Atlanta and he was asking me, if a new person was to get started in investing in cryptocurrencies, or if I had to do it all over again with what I know now about Cryptocurrency investing, what would I do different, and how would I get started.

So that I can get the most bang for the buck and get the most out of my money when I start investing in Cryptocurrency, and I thought that the Skinny asked a really good question there. So I just wanted to answer it for you guys, and explain to him as well as explained to you guys at the same time.

And the Skinny here will be asking questions along the way. So if I had to start all over again with Cryptocurrency investing, the first thing I would do is I would take an amount of money that I had, that I know for a fact, that if I lose this money, all of it, 100% of it, that it would not hurt my ability to pay the rent, pay the mortgage or put food on the table for my kids.

So you will have to have some type of disposable income. So it doesn’t matter where you start at, whether you’re in a third world country or you’re in the Western World or a first world country. It doesn’t matter where you’re at. Everybody can always put away one month’s worth of income.

I would start with at least somewhere between 2 weeks to 4 weeks worth of income. So in America, 2 weeks to 1 month’s worth of income would be anywhere between 2 to 4 thousand dollars. So according to the US Census Bureau, the average American makes about in the mid 40.

I think it was like around 45, 46, 48 thousand dollars a year, right? So that comes out to be about $4,000 USD a month, somewhere between 3 or 4 thousand dollars a month.

I’m just going to use $4,000 USD as it’s easy number for me to do the math in my head while I’m talking. So let’s just say that, if you guys live in a country or where you only make like 3 or 4 hundred dollars a month, I want you guys to do the more the math proportionally so that it fits within your budget and within your risk tolerance is okay.

Skinny: But with Bitcoin being broken down into Satoshi, you can buy, you can start an account of crypto account with a little, right?

Tai Zen: Yeah. It doesn’t matter. This is the first time in human history where you can start investing in the cryptocurrency market with any amount of money even with $10 USD.

Skinny: Even you start with stock in the US or other markets?

Tai Zen: It’s tough.

Skinny: They want thousands and thousands and thousands.

Tai Zen: There are some accounts like, there are some what’s called aggregate accounts where you can invest and buy 1 share or 2 shares or 3 shares of stock and they aggregate your order. They combine all your orders together and then they’ll submit like in order to buy 100 shares and they come back and they divide it up.

Where I get 5 shares, you get 2 shares and somebody else gets 3 shares or something like that. To me, that’s just a waste of time, absolute. I don’t recommend that that’s what I call a waste of time investing. That’s not going to change your life.

If you guys noticed the theme of our channel is life-changing profits. Investing in 1 or 2 or 5 shares of a stock is not going to change your life anytime soon, you won’t even notice it when you do make the money.

In Cryptocurrency investing, there’s lots of opportunities to create life-changing profits, because if you’re able to set aside like, 2 weeks or 4 weeks worth of income and invest into the markets if you hit the right one, and you get a 10x return, a 10x means 1000% profit, so if 1X return means a 100% profit, a 2X return is a 200% profit and the 3x return is a 300% profit and so on.

So if you do that, you have that opportunity. So let’s just say that I’m going to use 2 examples. Let’s say that you live in America and I live in Vietnam, and you make $4,000 USD a month in America and I only make $400 USD month in Vietnam. So I’m going to use those 2 examples.

Skinny: US Dollars?

Tai Zen: Yeah, US Dollars and so that the audience can see what we’re talking about, so they can relate to it, okay? So let’s just say that you take 1-month income in America, where you take your $4000 USD and I live in Vietnam and I take my $400 USD.

Now, keep in mind guys, that $4,000 seems like it’s a lot because it’s 10 times more than the $400 USD that I make in Vietnam. But keep in mind that the bills, the water bills, the electricity bills, the phone bills, the cable bills, and the property taxes and all of that.

Skinny has to pay to live in America, is probably going be close that $4,000 USD, and what I have to pay for living expenses in Vietnam is probably gonna be close to that $400 USD.

So it’s going to be proportional, all right? So that we’re making an apples-to-apples investment decision here. So let’s say you take your $4,000 USD and I take my $400 USD. The first thing we’re going to do with it is, we’re going to divide it up into like 10 units, 10 portions. Or we could just look at it like a pie. You take your $4,000 USD pie and I’ll take my $400 USD pie and split it up into different portions.

First of all, you got to take that $4,000 USD and go to Coinbase. That’s the only one that I trust so far to recommend the people. Because we’ve bought Bitcoins there before, and many people have bought, many of my friends and colleagues and people in the Cryptocurrency community have bought.

Skinny: Bitcoins business.

Tai Zen: Yeah. So you need to go there and exchange your the US $4,000 USD into $4,000 USD worth of Bitcoins. That’s like no matter what you guys do, you have to exchange your fiat currency, like the US dollar, the Euro, the Yen, the Yuan, whatever it is country units you got to convert it into Bitcoins first.

Everybody tries to invest in the Cryptocurrency without buying big exchanging into Bitcoins first, and that’s extremely difficult. Just go there and get that, that’s the first step that you need to do, or else nothing else matters.

So once you get your $4000 USD with the Bitcoins and I exchanged my $400 USD worth of Bitcoins. Now, we need to take those all, those Bitcoins that we have and, you needed this divide it up into 10 equal portions.

So for me, it would be $40 USD a Bitcoins, $40 USD worth of Bitcoins into 10 units. And you need to do the same thing for your $4,000 USD worth of Bitcoins. You divide them to $400 USD portions.

Now keep in mind that Bitcoin is around close to $1,000 USD now. So if you get $4,000 USD worth of Bitcoins, that’s you getting almost 10 Bitcoins. No, 4 Bitcoins, my bad. And then my $400 USD, I’m going to get $400 USD worth of Bitcoins, because Bitcoins can be divided into a hundred million units.

You see people think that they have to buy one whole Bitcoin, and my point is that you do not buy the one whole Bitcoin. You can just buy a fraction of a Bitcoin because it can be divided into a hundred million units.

Skinny: So I can put 20 bucks to Coinbase.

Tai Zen: Yeah, you can go to Coinbase of 20 bucks and exchange those 20 bucks for 20 bucks with the Bitcoins. You can take 1 Euro or 1 Yen and go to Coinbase and exchange it for one that equivalent of Bitcoin.

Skinny: All right.

Tai Zen: So now that we have 10 portions of a Bitcoin each. We’re going to invest it first. We’re doing that. We’re getting the Bitcoins not to invest into Bitcoins. We’re going to take those Bitcoins. I’m going to invest it into specific cryptocurrencies that have the highest potential for growth.

They’re going to be risky, and you’re going to probably lose money on the majority of your investments. So out of those 10 portions that you have, you’re going to put it into 10 different Cryptocurrency investments.

Most of them will be ICOs or initial coin offerings, most of them, not all of them, but most of them, you can invest it into some ICOs, because the ICO is that are good have a potential to grow. 10X, 20X, 30X, 40X, sometimes even 50, 60, 70X.

So you need a hit one of those. Your goal is to get one hit of a 10x or better. That’s your goal.

Skinny: 10X is a thousand percent.

Tai Zen: Yeah, 10x is a thousand percent. Because if you hit a thousand percent then the 4,000, at 10x, if you multiply the 4,000, initial investment that you put and times 10, you’ll get $40,000 USD and the 400 that I invest in, if I hit a 10x, then that’ll be $4,000 USD

And that is a life-changing amount of money, because with $40,000 USD that can be a down payment on a house. That can be a college education for you, that can be a car for you, a car for your wife.

So I take $4,000 USD, I divided into ten equal segments.

Tai Zen: Yeah.

Skinny: I’m investing $400 USD in each crypto in each one. And ICOs, 8 of them fail. For break even or whatever but you’re saying that one or two.

Tai Zen: It will hit so big. And in my math is wrong there. I was doing the math.

It’s going to hit like 20 or 30x, a 40x. Of the 400 and you’ll hit, you can expect a win rate of about 3. Two or 3 out of those 10 investments should hit a 10x or better.

Skinny: All right. So even if one of them hits the 10x.

Tai Zen: Even if one of them hits up 10x, you still made. You break even, even if you lose on all the other one, and based on the research and based on real-world investments that I’ve done, the absolute worst-case scenario is you lose about 75% of your investment.

So let me say that again you some examples. So those 10 portions that you invest into 10 different Cryptocurrency, the absolute worst-case scenarios that you have $400 USD investment in it would drop down to $100 USD.

Skinny: Right. You can lose $3,000 USD in the $4,000 USD example.

Tai Zen: Now what happens is, this is the key here because the majority of your investments will not make money. People think that every time you invest in a Cryptocurrency, it should make money. And my opinion, that’s a wrong mindset and a wrong approach to take.

Most of the time when you invest in a Cryptocurrency, most the time you don’t lose money. You might think that’s a loss, but that’s not. That’s what we’re looking for, we’re looking for the ones that will hit a 10, 20, 30x return.

Skinny: Well, you take $400 USD, and invest it in crypto that gets a 30x extra turn you turn $400 USD into 12 grand. So that’s huge.

Tai Zen: It’s huge and you need to do this like 3 times, at least 2 to 3 times before what I consider your set. In other words, you start off with a very little bit of money. But then once you get it up to a point, your account gets to a point where it’s enough money in there, to where now you’re sustainable, and now you can take lots of big shots.

So if you get that 4,000 USD up to a point where now the account is worth about $20,000 USD. And that can be easily done. That’s not like impossible. So once you get it to about $20,000 USD, now, instead of investing 400 into a Cryptocurrency, now you have enough Firepower or enough investment capital and that’s in the world of Cryptocurrency. We call that Firepower.

So you have enough investment capital to put, like a $1000 USD into it, per Cryptocurrency. So now you have 20 attempts instead of just 10 attempts with $400 USD each. Now, you have 20 of another opportunity to take 20 shots at a thousand bucks each.

And now, if we just still base it on the 3 out of 10, 30% win rate where you’re going to hit big, then what happens is, just do the math, you can expect that out of those 20 shots that you take about, anywhere between 4,5 or 6 of those will hit really big.

And when they do, they’re going to compound your account and you going go from about $20,000 USD to about $60,000 USD – $70,000 USD. And once you crack over $50,000 USD, then now you have in my opinion, you have enough capital to work with, to where now, every time you make an investment, you’re probably going to put somewhere between $1,000 USD to $2,000 USD into that Cryptocurrency.

Skinny: So the question becomes from the new guy. How many other cryptos are there?

Tai Zen: They’re coming out with new ones almost every month. There’s like 2 or 3 that come out every month.

Skinny: Is that sustainable?

Tai Zen: Yeah. I mean, I don’t see that stopping in the next. That would be the equivalent asking, “Hey when Al Gore invented the internet?”. I mean at least that’s what the US history book, the US history books say that Al Gore invented the Internet. So if it’s written in the US History books, it must be true.

But after Al Gore, I was just being sarcastic, in case you don’t come from the US and you don’t understand that joke. But anyway, if you know when the internet first came out, you remember all these dot com websites that popped up and the question is will it ever stop? How many websites will there?

How many websites will there, ever be when the internet was released to the public? Right. In today, till today, are there still people creating new websites? Yes. Okay, every day, thousands of them every day. Well, that’s the same thing with Cryptocurrency. It’s not going to stop any time soon.

Now there are Diehard Bitcoin fans or Diehard Bitcoin people that are called Bitcoin maximalist. This those are like really Diehard Bitcoin fans, and they swear up and down that all Cryptocurrency is software and it can all be programmed and written however you want

And since Bitcoin is the first Cryptocurrency, there’s no need for any other Cryptocurrency other than Bitcoin, because any improvements and new features that need to be included, they can just rewrite it into the software in the future.

Skinny: Well, I mean the growth when you see 20X winners in the other currencies would dictate, that’s not the case.

Tai Zen: Yeah, so that’s never going to stop because as long as there’s profit potential, people are not gonna stop coming out with them. Why would they? I mean if there’s a profit to be made and there are people doing it, why wouldn’t you create more?

Skinny: Right.

Tai Zen: If I was a computer programmer, I’d come out with an ICOs myself. But ICO and identity, to prevent identity theft that I want to make, but I’m not computer programmers. I don’t know how to do, but I have an idea for an identity system. So I don’t create it.

I don’t have a nice ICO on it because I don’t know how to do it. I don’t know how to do the ICO. I just don’t know how to decode it to make sure that is done correctly.

Skinny: Well, that’s what makes an investor different than a programmer or business owner.

Tai Zen: Yeah, here’s the other thing too though. So once you do that, that’s how you flip it that says that’s weak. That’s what I call, flipping ICOs or flipping Cryptocurrency, just like in that term comes from I used.

I coined the term, flipping ICOs or ICOs flipping, based on people who like to flip real estate, they buy distressed properties or undervalued properties, fix it up and then you invest into it and then sell it.

When we flip Cryptocurrency, whether it’s an ICOs or after the ICOs happens, we’re flipping it. Because we think it’s undervalued, there’s a potential for growth.

Now, what if the ICOs does not succeed, what if the Cryptocurrency does not succeed, what if they raised money and then they don’t complete the project or they’re not unable to complete the project or whatever.

Skinny: It’s a loss?

Tai Zen: Yeah, it’s a loss and hope you had made some money before that happens. And that’s the whole idea behind it. Some people will say that: “Hey, you know what, you’re pumping and dumping, or it’s a pump and dump coin or whatever”. That’s the goal of this, this is to make money and sometimes people forget that.

Skinny: We’re investors.

Tai Zen: Yeah, we’re investors. This is not a tech channel. This channel is not out there to change the world. This is an investing channel, where we look for opportunities to invest. Where is it?

Is it risky? Yes. It’s risky. Because you can lose all your money, because you’re giving your money to random strangers that you don’t know, and you’re hoping that they follow through with what they claim.

Skinny: And they’re in their business.

Tai Zen: Exactly, whenever they claim that to raise money and you contributing to them and they’re going to go in and do this software project.

You’re hoping that, first they don’t run off with the money and then second, that they actually do what they claim. Now, when I invest in a Cryptocurrency, that’s the part that I am the most concerned with: Are they going run off with my money?

So that’s why I invest only in projects from guys that have a reputation, or they’ve had a track record of working on different projects. Without running off. I don’t care if they succeed or fail the project. I hope they succeed so I make even more money.

But the main thing that I look for is that: is this guy a scammer? Is he going to raise the money by taking everybody’s money and went off, as long as he works on the project and he’s releasing the updates and we can see it. I mean nobody knows that the prize is going to succeed or not.

So if as long as he does makes an effort to work on the project, that’s all I can ask for.

Skinny: But you’re really just taking a 10% shot. I mean your tempers. In the beginning, later on, later on, it’s 5% or whatever. So getting it just ten tries.

Tai Zen: So the goal, the first goal is to exchange your fiat currency into Bitcoins. Without the Bitcoins in your hand and your possession, you cannot invest in anything.

Skinny: How fast is it move? How fast is an ICO happen?

Tai Zen: An ICO usually when you hit it and, when I first got into it, it would take like a year or more, but nowadays it’s like within 3 to 6 months.

You can tell the minute that they are releasing, the coins are available for trading within 3 months to 6 months, for example, when I invested into a Golem for you, it’s only been a month or 2. It has only been like a couple of months and it’s already up like over 100%.

Skinny: So my question is, I’ve got money in my account, and I need to get my Coinbase going but are their press releases their high ICO coming

Tai Zen: Well, there’s a different decision. You usually if you’re following like you’re full-time investor, like me, a full-time crypto and that’s what like myself. I mean, there’re different forms, there’s different spots that we track and we monitor.

And because our channel is the most popular Cryptocurrency investing channel in the market, there’s ICOs teams when they start, they reach out to us to see if we’ll review their ICO and talk about it. They try to get on our show and do interviews and stuff so that there’s different ways that you can monitor the market.

Just to see what ICOs are coming out and because we’ve been in the Cryptocurrency community since the beginning and we were early adopters. So there’s one advantage that our channel has is that we have a lot of people that come to us to notify us.

We have a whole network of people that’s out there, like our subscribers and our followers. They also go out there and whatever they hear they bring it back to us too.

So when I share this with my knowledge and my experience about Cryptocurrency investing with our followers and our subscribers, we also get feedback from them about new Cryptocurrency that’s coming out too.

Skinny: So how long does it take for my dollars to turn into Bitcoin at Coinbase?

Tai Zen: That happens almost instantly.

Skinny: Okay, so it’s not 3 days next time?.

Tai Zen: No, this is, just, however, especially if you’re just doing like $4,000 USD or less. It’s just almost instant. And then you can take those Bitcoins and once you get them from Coinbase, you can transfer it to a cryptocurrency exchange, or you can transfer to your own personal wallet, and then keep it there until you need to make the investing decisions.

Skinny: You’ll be ready at that point to invest.

Tai Zen: Yeah. So that will I’ll wrap up this video and then maybe in a future video, we can talk about some of the cryptocurrencies that are not ICOs. I’ll make separate videos where I’ll talk about different ICOs  I’m looking at that’s coming up.

That’s more of Leon’s responsibility on our team. Leon’s the one that does all the technical research, and that’s why you don’t see him too much on the videos because he’ll spend months to do research on one ICO because he has a more of a technical background than I do.

And he’ll do that and then he’ll compile the research into a report and then we have an in-house scoring system where we score the ICO to make sure that it fits a certain criteria. So we have a certain criteria, we filter them through and if it meets our criteria, then we’ll talk about on the channel. If it doesn’t fit our criteria, then we don’t talk about on the channel.

And that’s thing that a lot of people, more than likely people always ask, “what Cryptocurrency are you investing in”, that’s like one the most common questions that we get on our Channel, and one of the things that we do is that more than likely if we talk about it, you can pretty much bet that we put money into it.

And if we don’t talk about it, number 1, more than likely it did not fit our investing criteria or number 2, we just didn’t have time to do research on it. And we’re not going to get everything, so it doesn’t really matter to us. We have limited resources of investing capital and we have limited time on what we can invest in.

So if we miss it, we miss it, and there’s times when in the past where, for example, like Stratis, Leon he did the research on it and we had a disagreement on whether or not to invest into it. So he invests into it during the ICO and he’s made over 10x on it.

Well, actually it went up as high as 20x, within just like a couple of months.

Skinny: And he won that argument?

Tai Zen: Yeah, he won the argument. I mean like and it’s no big deal. It’s no big deal because there are times when I’ve invested in something and he didn’t invest in it.

So just because one the same team and we both do the research and we share with each other and we scored, there are certain things that I just want to do and then there are certain things that he will do.

But not that one. Yes, I did screw up on that one. So I got into it after the ICO which, I still made money on it. I still made like, 2x, 3x, 4X on it, but he made like 20x on it.

Skinny: So as what’s comical to me is you know in the stock. You know even people that trade futures or you know stock options. You know for you to say I made 100 or 200% and you know kind to be bummed about the performance. It’s really funny because in the stock world, you know managed money. You know if I’ll make your 10 or 12% of the year for the year on your 41k. I will tell you “hey, give me some money. I’ll put it in the market.” It’s run, Savvy investors. I’m going to make you if someone told you they’d make you 15% a year and actually delivered it. You people would be excited about that rate of return annually. We informed you a hundred percent.

Tai Zen:  That’s unacceptable. Like whenever we invest, our goal is to make, like, we don’t even look at a Cryptocurrency. The only if it only has a 100 to 200, 300% potential we look for things that have a 10x. And I bare minimum at least a 5x bare minimum and I’m saying so.

But that would conclude this video guy. And if you guys like this video, give me a thumbs up if you guys want to so I can make more about it. If you guys don’t like it, give me a thumbs down so I’ll know not to waste time making it, and thanks for watching this video guys.

If you have friends or family that would learn, like to learn more about Cryptocurrency investing, make sure you share this Channel with them and I look forward to seeing you guys in a future video.

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