Protecting your Bitcoin is important. Are you doing it? Welcome to episode 3 of my cryptocurrency trading series, where I will teach you how you can protect your Bitcoin, and when you should buy & sell.

In episode 1, I shared with you my investment philosophy, mindset, and strategy around investing in cryptocurrency. In episode 2, I shared the different wallets and exchanges that I use, and how to buy different Altcoins.

If you have yet to watch those episodes, check them out on my cryptocurrency trading series playlist, because they lay the foundation for what I am going to share with you today. Every video is meant to build off of one another, and the content will get more advanced as we go along.

Are you ready to dive into episode 3 of my cryptocurrency trading series to learn why protecting your Bitcoin is so important, and when you should buy & sell?

Watch the video below:

(Click here to watch on YouTube)

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Are you ready to start protecting your Bitcoin? CLICK HERE to get the Trezor Bitcoin wallet!

DISCLAIMER: Investing in Bitcoin or any cryptocurrencies are risky. As I've mentioned many times, I do NOT recommend investing money that you can't afford to lose. Nobody knows if Bitcoin will go up or down tomorrow – it's just speculation. For me personally, I consider the money I invest to be my “Vegas Money” – meaning, I'm gambling it. If I win, then I win big. If I lose, then I'm not surprised and it was money that I could afford to lose. That's why it's important not to invest a significant portion of your money into it. So if you do invest, I believe it's smart to start with smaller amounts.

Let's dive into why protecting your Bitcoin is important, and when to buy & sell.

Let me start off by saying that, at the moment, cryptocurrency is down, but I look at this as an opportunity. This may seem counterintuitive, but let me explain why I take this approach.

I don't panic or freak out when the market is down because I believe that a smart investor should always have a cash reserve, which is money that you put aside that you can use when the market dips. Because I take a long-term approach to investing, I buy more when dips occur, because I know that I can buy Bitcoin, Litecoin, or Etherium, at a discounted price.

Sir John Templeton, who is one of the greatest investors of all time, believed that you can be the best during experiences of maximum pessimism. When people are panicking and selling their cryptocurrency, that is the moment at which you should be buying. Whenever people are buying, that's when you should be selling.

When it comes to investing, you need to be able to remove your emotions from the equation. If you are panicking when Bitcoin drops, then what that tells me is that you have probably invested more much money in Bitcoin than you should have. Like I said before, you shouldn't invest more than you can afford to lose.

Once you start building your investment portfolio you will come across a technique called, dollar cost averaging. This investment technique involves buying and selling, at consistent intervals, regardless of what is happening in the market. The philosophy behind it is that people might be better able to handle the emotional storms that can occur when there are dips in the market.

With wallets, like Coinbase, you can actually set up automated weekly or monthly buys. By taking this approach, you can just ‘set it and forget it', and you don't have to pay attention to the ups and downs of the market.

When it comes to selling cryptocurrency, you first need to look at what your reason is for investing. Ask yourself, “Is this money that I actually need?” Personally, I don't really need the money that I'm investing. It's not money that I depend on, so I'm not focused on selling in the short-term.

I plan on selling in the long-term when my money is at a significant gain, at which point I'll take out a percentage of it. This is why it's important to know what your investment strategy is before getting into the cryptocurrency game. This is the approach that I take.

However, you can take a different approach. Let's say that today you invest $500, and tomorrow that money goes up to $1,000. If you wanted to, you could take out and sell $500 worth of it, and keep $500 in. This way, you don't lose anything. You are now only investing the capital gains of that money and having it grow. Or, you can continuously buy over a period of time.

When it comes to selling, you can sell on any of the different wallet exchanges that are on the market today. Coinbase is the most popular, however, there are many others. Decide which one works best for you.

Keep in mind that Coinbase mainly operates in the United States. I use Coinbase to buy, but if you are from Canada, like myself, you can't sell using Coinbase. This is why I use Coinsquare. With this wallet, you can actually transfer funds from one exchange to another, so I could transfer from my Coinbase to Coinsquare to Binance, and so on.

Protecting your Bitcoin is so important. Are you doing it?

You need to understand that your money is being stored on different wallets that are run by private companies. They control your money, but they aren't like banks that are government-regulated and much more secure.

These private companies can be at risk of being hacked. This is why protecting your Bitcoin is so important. In order to protect myself, I keep a certain percentage of my cryptocurrency spread out amongst four different online exchanges – Coinbase, Binance, Bittrex, and Coinsquare – so that if one of them gets hacked, I still have money left on the other ones.

Ultimately, the best way of protecting your Bitcoin is by using an offline hard wallet, like Trezor. This wallet allows me to connect a USB to my computer and transfer my Bitcoin, Etherium and some other Altcoins to this device, where my cryptocurrency gets stored.

I keep this hard wallet in a safe place, and only I know what the recovery password is. You wouldn't want to store your private key or your pin on your computer or another digital device, for risk of getting hacked. If you've invested a couple thousand of dollars worth into cryptocurrency, it's a good idea to invest in something like this.

That's it for episode 3 of my cryptocurrency trading series on protecting your Bitcoin and when to buy & sell! I encourage you to create an investment strategy that works for you, with the understanding that there will always be ups and downs in the market.

In future episodes, I will be interviewing different cryptocurrency investors that have higher levels of expertise in this area, so that we can all learn more about the exciting world of blockchain technology. Stay tuned for more exciting content!

This page contains affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefitted from personally. Thank you for your support!

Are you ready to start protecting your Bitcoin? CLICK HERE to get the Trezor Bitcoin wallet!

Is Bitcoin your chance to become a millionaire? Anything is possible. When it comes to Bitcoin, there are a lot of reasons to believe that this cryptocurrency has the power to create financial freedom.

Let’s take the example of Kristoffer Koch. In 2009, he purchased Bitcoin worth $26.60. At that time, he bought 5000 bitcoins, which at last year’s rate, was worth $886,000, and these numbers have only continued to rise. Today, Koch’s investment is worth over $1 million.

Imagine waking up one day and looking in your bank account to see a 7-figure dollar amount, simply from a small investment that you made, that expanded into a massive fortune over time.

This is the power that investing in a cryptocurrency like Bitcoin has. Is Bitcoin your chance to become a millionaire? You will never know unless you go for it. Financial freedom is yours for the taking.

Watch the video below:

(Click here to watch on YouTube)

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Are you ready to start investing in bitcoin and create long-term, passive income? CLICK HERE to get $10 of Bitcoin FREE with Coinbase!

Note: To get the $10 free, you must use the link above and buy at least $100 worth.

DISCLAIMER: Investing in Bitcoin or any cryptocurrencies are risky. As I've mentioned many times, I do NOT recommend investing money that you can't afford to lose. Nobody knows if Bitcoin will go up or down tomorrow – it's just speculation. For me personally, I consider the money I invest to be my “Vegas Money” – meaning, I'm gambling it. If I win, then I win big. If I lose, then I'm not surprised and it was money that I could afford to lose. That's why it's important not to invest a significant portion of your money into it. So if you do invest, I believe it's smart to start with smaller amounts.

In order to take advantage of an opportunity like Bitcoin provides, you need to understand how cryptocurrencies work, so that you can make smart decisions and maximize your profits.

On August 1st, 2017, I published a video inside of my Life Mastery Accelerator program that went in-depth into how to start investing for beginners and how to create financial freedom for your life. Within that video, for the first time, I publicly recommended that people invest in bitcoin and cryptocurrency.

At the time of that video, Bitcoin was trading at $2700 for one coin. A lot of people out there believed that it was too late to invest and that they had missed the opportunity. They decided to sit on the bench, instead of get in the game.

On September 28th, 2017, I published a Youtube video called, My Bitcoin Investment Strategy. At the time of that video, Bitcoin was trading at $4000, and yet again people thought that they had missed another opportunity and didn’t take action.

Today, Bitcoin is trading at $15,000 for one coin. So my question for you is, “Are you going to sit on the bench and be a passive player in the story of your life, or are you going to get in the game and invest in bitcoin?” Is Bitcoin your chance to become a millionaire? This could be one of the greatest opportunities of our lifetime to create financial wealth and abundance. 

I believe that blog-chain technology is going to be a significant part of our future and that we are just at the beginning stages of it. There are thousands of online retailers that are starting to accept Bitcoin and cryptocurrency as a means of collecting payments and doing transactions. It’s only a matter of time before companies, like Amazon, start to accept Bitcoin as well.

A common misconception that a lot of people have about investing in Bitcoin or cryptocurrency is that they have to buy a whole coin, but you don’t. You can invest whatever amount that you decide.

When it comes to investing, I suggest that you invest whatever it is that you can afford to lose. I consider this money to be my “Vegas money.” If I lose it, it’s okay. I’m not saying that you should invest all of your money into Bitcoin. That’s stupid.

Just because something is risky, it doesn't mean that you shouldn't invest in it. Get started and then learn as you go. Check out the documentary, “Banking on Bitcoin” on Netflix in order to gain a greater understanding of what Bitcoin is all about.

If you have a desire to get started in the investment game today, my recommendation is to get started with Coinbase, which is the most popular online platform right now for buying, selling, transferring, and storing.

If you’ve got $100 to invest, keep in mind that you don’t have to invest it all at once. You can invest a portion of whatever money that you have and then wait. If it goes down, great! Then you still have cash reserves available to buy at a lower price.

Personally, I always hold on to cash, because I’m waiting for corrections, dips, and recessions to occur in the marketplace that I can then take advantage of.

I’ve made a lot of money from cryptocurrencies thus far, and so can you. Bitcoin has at least doubled in value since December of 2016. Why wouldn’t you take advantage of such an amazing opportunity? It’s not too late to start investing.

One Idaho teenager invested $1000 in Bitcoin 3 years ago and has now made over one million dollars. If you are still wondering if Bitcoin is your chance to become a millionaire, it’s time to stop asking and start getting in the game!

The reality is that cryptocurrency investments, like Bitcoin, can be your ticket to financial freedom. If you don’t believe me, take it from one of the world’s greatest investors of all time, Warren Buffett, who said, “I made my first investment at the age of 11. I was wasting my life up until then.”

Stop missing out. Bitcoin can be your chance to become a millionaire. The second best time to start is RIGHT NOW. Happy investing!

This page contains affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefitted from personally. Thank you for your support!

Are you ready to start investing in bitcoin and create long-term, passive income? CLICK HERE to get $10 of Bitcoin FREE with Coinbase!