when Bitcoin launched in 2009 its value was
zero since then its price has broken above $100,000 making it the best performing asset of
all time money printing by governments and central banks means that this epic price action is likely
to continue which is why investors are still rushing to accumulate as much Bitcoin as they
can to protect their purchasing power the problem is buying Bitcoin is much easier said than done
easier said than done do it right and you could save yourself a lot of money money that could be
used for say buying even more Bitcoin do it wrong however and you could find your Bitcoin stash
isn’t as big as you originally thought that’s why today we’ll tell you what Bitcoin is give you
a step-by-step guide on how to buy Bitcoin’s BTC coin and even throw in a few tips that will help
maximize your returns my name is Guy stay tuned i’ll begin by saying that nothing in this video is
financial advice it’s purely educational content intended to help you understand Bitcoin and how to
buy BTC be sure to consult your financial adviser to see if BTC is right for you preferably one
that understands crypto and if they don’t well you can always send them our way it’s funny how
that works eh anyway with that out of the way there’s something we need to make clear right
off the bat bitcoin and BTC are technically not the same thing moreover there’s also a difference
between Bitcoin with a capital B and Bitcoin with a lowercase B so before we go any further let’s
make sure we understand these key differences bitcoin with a capital B refers to the Bitcoin
network a distributed database secured by hundreds of thousands of computers called miners these
miners use specialized hardware with immense computational power to process transactions and
update the information stored on the network this information is divided into chunks known as
blocks each block contains transaction data and a reference to the previous block and this allows
the blocks to be chained together hence the term blockchain notably the reason why Bitcoin miners
have such advanced mining equipment is because they’re all competing with each other to be the
first one to process the transaction data within a block and update the Bitcoin blockchain correctly
this is what secures the Bitcoin blockchain and allows the miner that process that block to earn a
financial reward for their efforts this process is what has made Bitcoin the most secure digital
payment system in existence now minor rewards are paid out in Bitcoin with a lowercase B
the lowercase Bitcoin refers to the actual cryptocurrency of the Bitcoin capital B network
the Bitcoin currency also uses the ticker BTC similar to how the US dollar is known as USD so
to avoid any confusion from here on out BTC is how we’ll be referring to the Bitcoin currency for the
rest of this video so then you may be wondering what gives BTC value well as it happens there are
three primary reasons why BTC’s value increases over time the first reason is one we just touched
on the Bitcoin blockchain is considered to be the most secure network in the world as such this also
makes BTC the most secure digital asset in the world the second reason is BTC’s supply and demand
dynamics every four years Bitcoin goes through a process called the h havinging basically this is
when the amount of BTC that miners can earn as a block reward is cut in half the effect of this is
that it restricts the amount of new BTC entering circulation and by the way BTC has a maximum
supply of 21 million there will never be more than 21 million BTC in existence so the restriction
of this already limited supply combined with the same or more demand for BTC eventually results in
BTC’s price doubling often more due to speculation now the third factor that gives BTC its value
is arguably the most important it puts you in control of your own finances what many don’t
realize is that when you store money in a bank it doesn’t actually belong to you and no this
isn’t a conspiracy theory just look at the rise of central bank digital currencies or CBDC’s to
see exactly what I mean more about that in the description with Bitcoin though you can store BTC
in your own wallet and maintain full control over your money and how you use it this represents
the true essence of financial freedom something that those in power are increasingly trying to
restrict and by the way if you’re enjoying the video so far help others find it by jabbing
those like and subscribe buttons and flicking that notification bell too so you don’t miss our
next one so now that you understand the basics the next step is to get your hands on some BTC which
you’ll remember refers to the cryptocurrency coin of the Bitcoin network there’s 21 million BTC
but only one Bitcoin now broadly speaking there are two ways to do this you can buy BTC directly
through crypto exchanges or indirectly through traditional exchanges offering Bitcoin ETFs and
other similar products now buying BTC directly is preferable because it allows you to hold and
control your own BTC however there are times when buying BTC indirectly is perhaps the better option
if you’re unsure on how to self-custody your BTC or if local regulations make direct ownership
difficult then buying BTC indirectly through traditional platforms may be the better solution
for you depending on where you live your bank or broker may offer spot Bitcoin ETFs or similar
products that give you exposure to BTC without having to hold it yourself the catch is that
these are custodial assets you won’t actually own that BTC additionally exchangeraded products
that track BTC’s price can sometimes deviate from that price that’s because crypto trades 24/7 while
traditional markets only operate during business hours Monday to Friday that’s why buying and
holding BTC directly is usually the better choice wherever possible so then this brings us to the
big question where’s the best place to go to buy BTC well in our opinion the best crypto exchange
out there is Binance which also happens to be the biggest crypto exchange in the world binance is
used by more than 270 million people worldwide and is available in more than 170 countries it also
has some of the strongest user protection features of any crypto exchange for example it uses
advanced data analytics and cyber forensics to monitor transactions to detect suspicious activity
moreover Binance stores most of its funds in offline cold storage and user funds are protected
by Binance’s Safu Insurance Fund which is designed to reimburse any lost funds in the event of
a security breach now we’ll leave a link to our written Binance review down below in case you
want to learn more about its security measures and all the other features it has to offer we’ll also
leave a link to our exclusive Binance deal in the description too where you can get a 20% discount
on trading fees for life and be eligible for a $600 bonus pretty sweet right so then let’s walk
you through how to set up your Binance account the first thing you’ll want to do is download the app
now this might sound obvious but you’ll want to make sure you’re using the correct link there have
been cases where scammers have set up links that are very close to the real thing but are actually
malware designed to drain you of your funds not ideal don’t panic though you can check the
description to find the link to this page on the official Binance website where you’ll see options
to download the Binance app on either Android or iOS devices so click on the link that’s relevant
to you or you can scan one of the QR codes that appears when you hover over your preferred option
this will take you straight to the download for the Binance app so tap install wait a few seconds
for it to download and then click on open when you open the app you should be met with this super
happy face wearing some awesome sunglasses asking you to tell him a bit about yourself you should
see two options i’m new to crypto and I’m familiar with crypto pro tip click on I’m familiar with
crypto even if you are completely new here now we say this for three reasons first you’ll have
access to all of Binance’s features second most online guides use the pro version so it’s helpful
to be familiar with it and third despite its advanced capabilities the Binance app maintains
a clean and userfriendly interface and best of all the pro version is completely free so once
you’ve selected that option you should then see a screen that says welcome to Binance which should
look like this make sure you click on the option that says sign up with email or phone rather than
using your Google or Apple settings that’s because if these accounts are compromised then hackers
could potentially access your Binance account so select sign up with email or phone you’ll then
see this screen where you can either enter your email address or your phone number now we strongly
recommend you use an email address for this step so once that’s entered click the little check
box to agree to Binance’s terms and conditions and click next you’ll then receive an email with
a verification code so type that in and click submit next you’ll be prompted to set a password
make it as strong as possible we recommend at least 14 characters combining letters numbers
special characters and capitals avoid reusing old passwords or using personal information like
your name or birthday if you’re struggling to come up with a strong password you could always use a
password generator we’ll leave a link to one in the description below okay once you’ve chosen one
click next you’ll then be asked to confirm your jurisdiction select your region from the drop-own
menu and hit continue okay now that you’re all set up with your account you’re finally ready to
buy some BTC so on the main page hit that button on the top right that says add funds you should
then see a handful of options allowing you to buy crypto directly using a card or bank transfer buy
crypto through peer-to-peer trading receive funds from another Binance user or deposit some crypto
for the purposes of this tutorial we’re going to select the option to use a card or bank transfer
you’ll then see a page that looks like this this is where you’ll choose which crypto you’re buying
and how much of your regular national currency you want to spend on it so to choose the national
currency relevant to you just hit this icon you can then either scroll down to find the currency
you’ll be using or simply type it into the search box at the top then you’ll want to select the
crypto that you want to buy now you’ll notice that USDT is selected by default but we can also
buy BTC directly from this screen so click on USDT and then select BTC instead once you’ve decided
how much you want to spend type it in and then hit the button below assuming you haven’t already
added a card your button should redirect you to do this so let’s go ahead and do that now enter all
your card details make sure they’re all correct and then hit confirm once your card’s registered
you’ll see a page asking you to confirm your order at the top you’ll see how much BTC you’re buying
and just below that you’ll see the price that you’re buying that BTC at you’ll also see the fees
you’ll be paying and the total amount spent make sure that the little check box is ticked off to
agree to Binance’s terms of use and hit confirm fyi you may need to authorize this payment in
your banking app so once it’s authorized give it a moment to process the transaction and voila you
should see a screen that looks like this telling you that your purchase was successful feels good
right you’ll also notice the message saying your assets are now in your spot account and a button
that says check assets go ahead and click it this should bring you to an overview of your accounts
your BTC should be sitting in your spot wallet so now that you’ve bought your crypto the next
step is to send it out of the Binance exchange and into your own crypto wallet so you should see
three buttons add funds send and transfer click that send button in the middle you’ll then see a
little popup menu with four options you want the one that says onchain withdrawal this will present
you with a list of whatever cryptos you’re holding on Binance which is presumably just BTC at this
point so select that at this point you’ll need to enter the wallet address of your personal Bitcoin
wallet now take extra care here double check that your wallet address matches even if you copied and
pasted it over like most people do also make sure that the network selected matches the network
of the address you’re sending to then click max assuming that you want to withdraw all of it and
hit withdraw you’ll then be asked to confirm your order so check everything over and once you’re
happy hit confirm and that’s it after a short withdrawal process you’ll officially be holding
your very own BTC okay now I want to end by giving you some extra tips to help save you money and
maximize your gains so the first tip is to use a crypto exchange that won’t rip you off with fees
note that this includes deposit fees swap fees and withdrawal fees thankfully the fees on Binance
are pretty competitive the second tip is to accept that if you’re planning to actively trade your BTC
you’re far more likely to make losses than gains trading profitably requires hundreds of hours of
learning and experience and can easily become a full-time job you’ll also be competing against
experienced traders whales and trading bots so don’t presume you can outrade them as such you’re
much better off simply holding on to your BTC in fact buying and holding BTC is statistically
just as profitable as trading it in the long term not to mention that it’s nowhere near as
stressful or as time-conuming and this ties into the third tip accumulate BTC gradually and
stressfree through a dollar cost averaging or DCA strategy now DCA involves investing a fixed
amount into BTC at regular intervals regardless of its price you can do this daily weekly monthly
whatever works for you the beauty of this approach is that it eliminates emotional trading and is
statistically one of the most effective strategies for investors and this relates to the fourth tip
which is to store your crypto securely in offline cold storage using a hardware wallet while online
mobile wallets are convenient they can potentially expose your funds to hacks and exploits so the
safest way to protect your assets is to keep them offline and out of reach from cyber threats you
can find discounts on top rated hardware wallets on the Coin Bureau deals page linked to below
the fifth tip is to accept that crypto is highly volatile and BTC is no exception double-digit
percentage swings in a single day are common it’s just part of the game so if you find yourself
panicking during these moves it’s a sign you may have overallocated in that case consider reducing
your exposure to manage your risk the sixth tip ties into the fifth and that’s to diversify your
portfolio unless you’re a Bitcoin maxi you’ll want to spread your investments across multiple cryptos
that said avoid holding too many it becomes much harder to manage we reckon a balanced approach
is to hold around six cryptos one position in BTC and five in altcoins that said the seventh step is
to acknowledge that the gains you’ll see with BTC will likely be lower than the potential gains from
altcoins that’s simply because BTC has the largest market cap of any cryptocurrency which makes it
harder for it to grow in percentage terms altcoins on the other hand have lower market caps and can
potentially pump more as a result the trade-off is that altcoins carry additional risk and to
be clear this doesn’t just mean a risk that you won’t make money but that you’ll actually lose it
instead as such you’re much better off allocating a larger chunk of your portfolio to BTC now the
eighth step relates to the seventh and that’s to set your own realistic expectations and don’t
compare yourself to others if your friend became a memecoin millionaire overnight don’t just assume
that you can simply do the same you might just end up losing everything instead set yourself some
tangible realistic goals for example maybe you’ll sell half your BTC to buy yourself a house at some
point in the future the ninth tip is to ignore the noise the good the bad and the ugly if you’ve made
it this far then there’s a good chance that you’ve developed your own feelings towards Bitcoin but
if you start taking on board the opinion of every crypto bro post on X then you’ll be feeling FUD or
FOMO in no time and both present a one-way ticket to getting wrecked so the 10th and final tip is
to simply sit back and enjoy the ride keep your strategy simple don’t overthink it btc is the
best performing asset of all time with growing adoption among businesses financial institutions
and even governments it continues to prove itself as one of the most important technologies ever
created put simply Bitcoin isn’t going anywhere and its value is likely to keep rising over the
long term even if only because fiat currencies are losing purchasing power if you’re confident
in Bitcoin’s potential then there’s no need to get lost in technical details think of BTC as
digital gold a safe store of value to protect your wealth into the future okay that’s all from
me for today folks thank you for watching like and subscribe if you got something from this video and
I’ll see you again soon this is Guy signing off
Add A Comment