maybe you're looking into buying cryptocurrency and you're wondering if coinbase is the right way
to go well in this video i'm gonna break it down as per the title i say be careful about the fees
after using coinbase for a long period of time now i have found a way to avoid unnecessary fees that
coinbase sometimes charges a little bit too much for in my opinion so we're gonna break down the
entire process and this is meant for beginners if you're trying to get into the cryptocurrency
market or you're trying to learn how to use coinbase a little bit better that is my goal to
break down for you in today's video so if you're ready to get started all i ask tap the like button
down below it does help this video get out to more people and i certainly appreciate it so coinbase
it was founded in 2012 and not only that they have a lot of crypto that you can buy and sell
and they've grown with over 6.1 million active users making it one of the most trusted platforms
in the world for trading cryptocurrency not only that they've actually grown to a point where they
now are a publicly traded company on the u.s stock market but what i want to do is i want to cut down
right to the chase we're going to hop over to my computer and i'm going to walk you through
step by step how to use the coinbase program we're going to look at how to buy and sell and
i'm actually going to trade some cryptocurrency live here on video today so you can see exactly
how this thing works let's get going okay the very first thing you want to do check out the link in
the description below and sign up for coinbase you actually get free bitcoin simply for signing
up that's my gift to you click the link down below and get started today and then what you're going
to see is right here this is coinbase.com the very first thing you're going to wonder is whoa
this guy has a zero dollar portfolio balance who am i watching this guy doesn't know what he's
talking about hold on a minute remember what i said earlier i found a way to avoid fees i
actually have a different account with coinbase that i'm going to bring up in just a moment so
hang tight and i'm going to show you some things that you may not know especially if you're already
using coinbase i hope this is super helpful for you okay so let's walk through coinbase.com
first the reason i like coinbase especially over things like robinhood weibull or some
of the brokerage apps those are cool for stock market investing but what's nice about coinbase
is that you actually own the bitcoin the ethereum whatever type of cryptocurrency you buy you
actually own that and you can buy and sell and receive and everything in between for goods and
services and right here is number one example send and receive do you see that right here at the top
if i click on that you can see it comes up with send or receive so i can send bitcoin as long as
i have the address of that person i can send them bitcoin so if you and i have this agreement let's
say i want to buy an apple for you for one bitcoin by the way that would be way too much for an apple
but let's just say you're gonna get one bitcoin for one apple i could send you one bitcoin you
send me an apple and that is how we do it so the very first thing i want to walk through is what
you need to do as soon as you sign up it's a very simple sign-on process you get everything set up
and then you want to hop down here now this is the desktop version i find the desktop version
is much easier than the app when it comes down to coinbase but go down here to where it says earn
rewards and click on that very first thing you want to do is start making yourself some money
for nothing before you even transfer money in you might as well make some money right and how you
do that is by going through these tutorials that they have that give you rewards so this is as of
may 2021 right now but look at all this you can actually see that i already went through some of
these classes you go through and you just kind of learn about the different cryptocurrencies
and when you do they actually pay you in that cryptocurrency so i got some graph i got some
compound blah blah blah you can see up here at the top i actually have an opportunity to earn some
fourth i'm going to be transparent with you guys you can actually take this and once you earn it
you can translate it into bitcoin into ethereum or whatever cryptocurrency you're interested
in buying so it kind of makes it nice just to pick up some free money right from the get-go
then at that point what i recommend is come up here to buy and sell and it's going to ask you if
you haven't already to link up your bank account now of course you have to do that because you got
to transfer money from your bank account into your coinbase account in order to buy cryptocurrency
that's just kind of how it works so anytime that i want to continue to buy or transfer in i can
certainly do that anytime right in this screen but i'm not going to do that because again i buy it
a different way and i'll show it to you in just a moment so that is step number one go into rewards
then let's talk a little bit about research this is also where i use coinbase.com a lot is in my
research so if you go here to trade which is the third option down on the desktop version
you can see all of the different tradable assets that they offer here on coinbase of course bitcoin
being at the top next to ethereum that's typically how things go with that but you can see what
their market cap is the change the current price that they're trading for and remember
cryptocurrency trades 24 7. it's not like the stock market where there's stock market hours
you can trade cryptocurrency anytime you want so for example if i wanted to buy bitcoin i could
just simply click on that if i wanted to but what i want to do here in this particular screen is i
want to do some research now most people know about bitcoin and ethereum but i'm actually
going to click on this cardano if i click on that check this out of course i can see what
the price of it is and all that stuff you can look at the general price trend see all one year
one month one week 24 hours and one hour just so you can see kind of how things are trading
remember cryptocurrency is a volatile market none of this is financial advice i'm not recommending
that you buy any of these cryptocurrencies you got to do what's right for you and you've got
to do your own research but if i click on all i can see like back here it tells me the date
and the current price for that particular cryptocurrency and i can see how it kind of
goes up and falls through the course of time then come down here you can check out not only the
official website of this particular cryptocurrency but you can click on white paper this is a cool
way to come in here and really understand a little bit more about what you're researching
this is more than just a game guys i think it's more than just taking your money and throwing it
on a roulette table and hoping that little ball lands on the color that you selected instead do
some research to to at least understand what you're getting yourself into so this is what i
would do go through the white paper learn a little bit about it maybe look at some of the top stories
they're going to have that right below this white paper section that you can look at the top stories
of what's going on what's the news what's going on with this particular cryptocurrency so not
only you get some free bitcoin just for signing up with the link down in the description you earn
your rewards so now you have a little bit more money and then you do your research to find out
what cryptocurrency you want to buy well now it's time to buy what do we do you don't go here let me
show you why i'm going to give you a very clear example using bitcoin all right so over here
in what looks like an absolute spaceship it looks like we're about to take off and i'm in like the
control center of a spaceship well don't worry about any of this because remember this video
is for beginners i'm not going to go into all these details but what i am going to do is talk
about coinbase pro and that is what this is right here this is actually where all my assets are now
i don't have a lot of money invested at this time because i am a big dividend investor so i have a
lot of money in the stock market but if i click up here on the top right hand side where it says
portfolios and i click on that you can see right now my balance is 374 and that will fluctuate
over time as the price goes up and down remember that cryptocurrency is a wild ride it's gonna fly
all over the place but i have a little bit of bitcoin i have a little bit of ethereum
and today i'm gonna buy a third cryptocurrency live here on camera i want to show you the
difference in bitcoin purchases so right here i am and i'm actually going to put on my glasses
because i can't see nothing and let's say i want to buy 20 in bitcoin now there's a couple things
i want you to take note of here on coinbase pro 20 united states dollars and look at the fee
10 cents okay now i want to hop back to coinbase and show you a very interesting example i'm going
to hit buy sell and i'm going to buy 20 of bitcoin from my bank account i'm going to preview the buy
here's where things get interesting check this out guys look at the coinbase fee
1.49 remember i'm gonna hop back over here to the pro version my fee is only 10 cents we're talking
1.49 versus 10 cents if you're buying cryptocurrency on coinbase.com you're spending too
much money on the bloody purchase you got to stop that go to pro.coinbase.com it's the same thing
you can also transfer your portfolio from pro to coinbase.com anytime you want with no fee so you
buy it over there and then you transfer it over into this if you want to if you want to
use it for buying and receiving uh the certain cryptocurrency it makes it super easy so check
this out for a second here we are at 1.49 but i also want you to look at this 56 782 bitcoin
but look at this six thousand four hundred and ninety why the difference because they have a
spread it's an added thing it's an adequate look that hopefully gets you so fired up that you're
like man if i was using coinbase.com if you've already had this account and you just landed on
this video to learn more i hope this helps you if it does tap the like down below because this will
save you money your dollar that you invest in any cryptocurrency will save you money in all these
fees by simply just going to pro.coinbase.com and then all you do is go to the top right hand side
where it says portfolios click on that and then right over here at the top right you can click
withdrawal you click on that and check out what happens at this time you can withdraw your bitcoin
if you have bitcoin to your coinbase.com account if i do that look what happens it has no fee to it
i can transfer all of my portfolio from pro to coinbase.com if i wanted to
and there it'll be now for my purpose i just leave it sit in pro.coinbase.com because that's where
it is and right now i'm not purchasing anything in bitcoin so i'm leaving it all in this account just
because it's easier for me but if i wanted to i could transfer my entire holding into coinbase.com
so i saved myself some fees and i can transfer anytime i want i hope that helps guys i hope
that helps but let me get down to some exciting things i'm going to show you how to transfer money
in right here on coinbase pro and how to buy some cryptocurrency we're buying three today here we
go i put my glasses on one more time because i can't see nothing guys what i want to do is on
the far left-hand side here you see where it says deposit i want to hit deposit and then what i want
to deposit i want to deposit into united states dollars because that's what i currently have so
what i'm going to do is i'm going to go on to my bank account do not use ever wire transfers
if you can avoid wire because that comes with an additional fee make every dollar count when it
comes down to cryptocurrency investments don't wire transfer for free do bank account it comes
down with absolutely no fee to transfer in what i'm going to do is i'm transferring 30 today so
i just simply put thirty dollars right down here in the amount again the fee is zero because i'm
using this method and not a wire transfer and i can transfer up to a hundred thousand dollars
per day yo if you got that much money as long as you're not yoloing power to you my friend
and then processing time is instant as soon as i hit preview and go that 30 bucks is now in my
united states dollar account and i can use that to trade cryptocurrency so let's hit preview deposit
instantly 30 and available to withdraw in four days the reason for that is because of course
it has to come from your bank and it does take a process to do that they just give you instant
buying power so don't think that you're going to try to be a day trader here and transfer it the
next day you got to have a little bit of a holding period but again i never recommend doing that kind
of stuff i am much more of a long-term investor i'm going to sit here and invest in a bitcoin at
56 000. if the dang thing drops to 10 000 it's gonna hurt but i'm gonna hold on until someday
it goes back up to 56 plus so i can make money on my money guys i don't care if it takes 20 years
i am a long holder i never sell for a loss so i'm gonna hit deposit and look as easy as it just
does this little processing thing boom don't wait for your bank let's get trading so out here at the
top do you see now i have 30 in the united state dollar pretty darn cool first thing i'm going to
do is bitcoin because that's what's live here on the screen now what you'll see of course i'm
not explaining all this because again this is for beginners but basically this is a buy and
a cell wall and kind of the current price and the candlesticks of if it's going up in price
or down in price but i'm just interested in buying bitcoin at the market order now you can limit and
you can do stop orders by clicking right here on the left hand side which basically means i want to
buy if it hits a certain price and that is kind of how you do that but i'm just doing market orders
for beginners here today so out of my 30 dollars i'm going to do 10 10 united states dollars into
bitcoin you can see my fee right here and my total of bitcoin received right here now keep an
eye down here because what's gonna happen as soon as i hit this buy order it's gonna fill it at the
market price and it's gonna pop in here and let me know how much i have okay so we're gonna hit
place buy order and see it just filled it and there goes a few seconds ago cool right that's how
it's done we just bought ten dollars of bitcoin now what if we want to do ten dollars worth of uh
ethereum why not you go up here to the market where it says select market and here are all the
different cryptocurrencies now you can use this up here to search if you want to for whatever you
want to search for or you can just select with the browse feature down below here so i can see
ethereum's right here at the top so i'm going to click on ethereum and right here it is and
i'm going to do you know what guys i'm only going to do five dollars i'm only gonna do five dollars
in ethereum because i want to use 15 for this new crypto that i don't own yet that i'm about to own
again not financial advice just what i'm doing here today so you can see my fee down here this
is how much aetherium i will receive with my five dollars i'm going to hit place buy order
and there she goes and just to beat the dead horse one more time i also want to show you if
i come back here to coinbase and i hit ethereum and i want to buy five dollars of ethereum
preview buy look at the fee 99 fee my money just doesn't you know like i'm not getting
that's too high of a fee guys that's too high of a fee i don't like it so i got my five dollars right
there it is see that got my five dollars the fee was only two cents not a dollar come on who wants
to spend a dollar in fees all right next one i'm gonna do ada that is the cardano i've been doing
some research on cardano and i'm probably going to get a lot because it's only trading at like
i think a dollar right what is it yeah a dollar 75 at the recording of this video but i am going to
buy into cardano i'm doing 15 and you can see the fee and how much i'll receive guys it's so rare
because i'm so used to buying bitcoin and i'm so used to buying ethereum to actually
get a whole freaking like what is that 8.5 i'm getting is that is that what it is 8.5 that is
so awesome i'm so used to getting 0.03 blah blah blah hey i'll take it so what i'm going to do here
place the buy order and then you can see there's nothing down here on the bottom
because i've never purchased this particular holding but that's okay today we're making
history we're going to change that right now i'm going to hit place buy order and there she goes
done that was pretty easy wasn't it now if i go to my portfolio again in order to do that top
right hand side right up here portfolios look at that i now have a 404 portfolio in cryptocurrency
and here's how it's broken down most of my holding is within bitcoin about 42 here in ethereum and 3
in cardano there are also apps for both coinbase and coinbase pro you can download them and i'll
show them to you quickly the only thing i don't like is it's a little bit more clunky
in my opinion to use the app i mean call me a boomer if you want it just doesn't seem to
be as i don't know user friendly as the desktop version but this is what it looks like you can
go down to the bottom second one in where the pie is click on the pie that is your portfolio
and just like we looked at in the desktop version i have 404 dollars and 68 cents as my portfolio
that will also automatically adjust as we go on i can deposit money by simply clicking on deposit
or withdraw if i wanted to do that and then it breaks down what i have in each holding so
that's the name of that game but honestly guys i think that you know to me it's just it's easier
just to use the desktop version but if you don't have a computer this works fine too you click on
bitcoin you simply hit buy and onward you go i'm not saying it's difficult i'm just saying that
i've used the online version for so long that i've just gotten used to it you know how like
you get used to something that's just me don't judge so not only do you have coinbase pro you
also have of course the normal coinbase app that you can download in addition i have them both
so yes that does mean that i have two apps for coinbase on my phone you can also download the
coinbase wallet if you want to have three apps on your phone based on coinbase but again there's no
fees for this kind of stuff just to hold the app you know if you have the apps use the apps do
whatever you want with them which speaking of which let me hop over one last time for those
people that are like yo you didn't explain how to actually sell well if i wanted to sell which
i don't want to today but if i wanted to sell all i have to do let's say we want to sell some
bitcoin is i would hit the sell bar instead of the buy bar right here in the middle i would hit sell
and then it's going to ask me how much do i want to sell out of my bitcoin now you're going to
want to know what your balance is which you can find right up here at the top do you see this
this is my current balance of bitcoin and then i can decide i have that .00386 how
much i want to sell i can do that there will be a fee to that so let me see 0.003
okay look at that a little bit more fee because the maker and taker fees are a little bit higher
so they will se they will charge a little bit more for selling and that's how much i'll get back in
united states dollars i am not hitting that sell order because that is not what i'm in for right
now i spend a lot of time dollar cost averaging uh especially with bitcoin because bitcoin is
insane it goes up it goes down it's all over the place i want to show you something if you
want to be uh if you want to laugh at me look at this look at this for a second right here three
years i was using coinbase pro look at this one right here guys i was buying it for like 14 000
right that was back in the last peak and then i was dumb and i sold out and i just kind of
forgot about it until just a couple months ago when i kicked back into my investment portfolio
but if i would have held on to that i would have had well over five thousand dollars
and i only invested a couple hundred if i would call i mean you can do the math i
forget how much i actually ended up investing back in these days i should have just held on
and that's the key learning learn from my failure don't don't don't make the same mistake
get yourself a good solid investment plan stick to it do your research and you will live your
ultimate suite life so get yourself started with coinbase get yourself some free bitcoin simply for
just signing up link down below in the description here are some other videos that will help you
along with your personal finance journey and until next time we'll see you on the next video