Hello, I’m Crypto Casey. This is a video guide for beginners about
what bitcoin is and how it works. We will break down bitcoin into simple concepts
together, so by the end of this video, you will understand why bitcoin was created and
the technology behind bitcoin. I’ve broken this guide down into 7 easy
chapters. so feel free to use the time stamped table
of contents in the description area below to hop around this video before we get started please take note of
all of my official cryptocasey accounts listed here on the screen many scammers are making
impersonation accounts pretending to be me as well as other crypto content creators so
it's crucial to double and triple check the URLs and the account names you're accessing
to ensure they're the correct and official ones also Please note that the best way to
contact me is by visiting my website CryptoCasey.com/Help to fill out a contact request form or you
can email me directly at Casey@CryptoCasey.com.
I do not use Gmail, Outlook, Yahoo or any
other email handle to communicate about cryptocurrency I also do not engage in direct messaging on
Instagram as there are a lot of impersonators and I don't want to cause any confusion every
Wednesday I conduct a weekly AMA or an “Ask Me Anything” every Wednesday on Instagram
at Instagram.com/CryptoCasey. So please use the link to my Instagram account
listed in the description area to follow me and ask me anything you want, every Wednesday.
Awesome. Now that we’ve got that covered, let’s
learn about bitcoin. Chapter 1: What is bitcoin? Bitcoin has been a hot topic this year, and
will likely remain a hot topic into the future due to reasons that will become clear throughout
this video. What’s interesting is when you Google search
“What is Bitcoin?” you get answers like: “Bitcoin is a cryptocurrency…” Okay. Great, so what is a cryptocurrency…? Or another answer you get is: “Bitcoin is
a digital currency.” Okay, well, I can access and transfer my US
dollars online, isn’t that pretty much “digital currency?” Or this answer is my favorite: “Bitcoin
is the first decentralized open source, peer-to-peer network that is powered by its users with
no central authority or middlemen using blockchain technology.” Awesome, that tells most people absolutely
nothing.
Bitcoin may seem like a difficult concept
to wrap your head around, yet it’s actually way simpler than most people think when we
describe it using analogies. So first, let’s think about how easy it
is to shake another person’s hand, give them a high five, or interact with them physically. As long as you’re within arm’s length
of the other person, it’s easy to just simply reach out and shake their hand. Or imagine if you had a bottle of water in
front of you, how easy it is to simply reach out and have a drink of water.
Pretty straightforward, right? Now let’s imagine that in order to shake
someone’s hand, you had to shake another person’s hand, who then shook that person’s
hand for you. Or imagine that in order to have a drink of
water from a bottle in front of you, another person had to pick it up, put the water in
their mouth, and then put it into your mouth.
That’s just crazy, right? Well, that’s essentially how banks, credit
cards, and our traditional financial system currently works. When you swipe your bank card to pay for groceries
at the store, your bank is taking your money from your account, giving it to the grocery
store for you, and then charging you for it. This is the case with checks, credit cards,
debit cards, ACH transfers, and any exchange of money, really. It’s so ingrained in our society and the
way we think about money, that it seems completely normal and okay for the most part. The reality is, the only person who has anything
to gain in this arrangement is not even a person, really: it’s the banks. They make a profit from storing, transferring,
controlling, and issuing loans off of money you deposit into banks under the guise that
1) “it’s safer there,” which is not the case, and 2) that you aren’t smart or
qualified enough to manage your own wealth without their services. So this case of someone basically profiting
from shaking a person’s hand for you, that you could just as easily shake directly yourself,
is how our “modern” financial system works.
So, how about Bitcoin? Well, bitcoin is just like shaking someone’s
hand directly or taking a drink of water from a bottle directly, except with value exchange;
and the best part is, you don’t even have to be an arms length away to do it. With bitcoin, you can send and receive value
directly to anyone around the world, anytime. One of the hangups people have with understanding
bitcoin, is just another thing we’ve been conditioned to accept as standard business
practice: which is separation between value and storage or transference of that value. So we own and hold fiat like US dollars as
something representative of value, yet use completely separate mechanisms to actually
use it, store it, and move it around.
For example, you have US dollars representing
value, and you have a Bank of America account to store it in, and you have an American Express
credit card to spend it, and maybe even a PayPal account to buy, sell, and manage value
as well. This is a very normal concept we are accustomed
to because that was pretty much all that’s been available, until the past decade. So instead of having fiat represent value
and paying financial businesses like Venmo and JP-Morgan Chase to move it around and
store it, Bitcoin is both value and a means to transfer, store, and manage that value. This is because bitcoin is both digital value
and it’s a network that can store and transfer the bits of digital value. Value and usage of the value is simply one
unified system in the case of bitcoin. Chapter 2: Who Created Bitcoin & Why? At the time of this video, the creator of
bitcoin is our very own modern day Shakespeare mystery, as the only thing we know about this
person or persons is their pseudonym, Satoshi Nakamoto.
The true identity of this person or group
of people has remained anonymous. Satoshi Nakamoto created bitcoin and the bitcoin
network using blockchain technology. And blockchain is simply a method of record
keeping using math and computer science, as opposed to accountants and bookkeepers. What most people don’t know is, the concept
of blockchain was actually outlined back in 1991 and Satoshi was the first one to apply
blockchain use just under 20 years later in 2009 with bitcoin.
We will talk about how the bitcoin blockchain
works in more detail in chapter 3 of this audio guide. So why did Satoshi create bitcoin? In the following section, we will point out
the problems with financial institutions and our current monetary system that prompted
Satoshi to create bitcoin. Bitcoin was created as a way for people to
store and send value around the world, anytime, anywhere, at virtually no cost, without using
a financial business or fiat currency. In our current financial system, bank accounts
and credit cards are luxuries most people around the world don’t qualify for, don’t
have access to, or simply can’t afford. Even if you do have bank accounts and credit
cards, they can be frozen, restricted, and closed at any time without warning, and except
for each and every holiday known to mankind, most banks only operate only 9AM to 5PM on
weekdays. And even if all of your accounts are clear
for the moment, the only thing you store in them or use within them, are debt repayment
instruments. Yes, our hard-earned money, stored in bank
accounts is just debt repayment instruments created by the government so you can pay debts
like credit cards, mortgages, bills, loans, etc.
But doesn’t the money have inherent value
as well, isn’t it backed by something, representative of the issuing country’s GDP, or something
similar? Well, let’s talk about what all this “money”
in our bank accounts really represent. Money is a bit of an abstract word, and its
true definition is a medium of exchange in the form of coins and banknotes, in addition
to being assets, property, and resources owned by someone or something. The type of money that is stored in traditional
bank accounts is called fiat. And the basic definition of fiat is this: Fiat is a pronouncement, arbitrary decree,
or a command given by a person or group of people that have absolute authority to enforce
it. So when you combine the word fiat, with the
word money: The definition of fiat money is a legal form
of money issued and backed by the government… and “backed by the government” means that
the government made an arbitrary decree that fiat money, or the US dollar, is to be used
in our economy as a medium exchange for goods and services.
Essentially, the US government has commanded
us or told us our fiat US dollars should be used to buy goods and services in our country. If you’re not convinced, just check out
this simple bullet proof list on Wikipedia explaining fiat:
• any money declared by a government to be legal tender
• State-issued money which is neither convertible by law to any other thing, nor fixed in value
in terms of any objective standard • intrinsically valueless money used as
money because of government decree • an intrinsically useless object that serves
as a medium of exchange So all of the “money” or US dollars we
have in our bank accounts is intrinsically useless, valueless, and is only a form of
debt repayment or medium of exchange. Satoshi knew this and created bitcoin to mitigate
the following: • Banks, credit cards, and other financial
instruments are not widely available to all people around the world
• Value and the means of exchanging the value are separate systems by design to generate
profit for financial institutions • Financial institutions are in complete
control over people’s money in banks and their credit cards, in that they can reverse
transactions, freeze or close your account at anytime for any reason
• And all the fiat money in bank accounts is a debt repayment instrument, not an actual
form of value Awesome.
Next, let’s break down how blockchain works,
because once you understand the core principles of bitcoin’s underlying technology, you
will start to see how bitcoin is far superior to both fiat money and our current financial
system at large. Chapter 3: How blockchain works? The primary element that makes bitcoin so
unique as a digital currency and payment network is its underlying blockchain foundation. So let’s talk about how blockchain makes
bitcoin possible using principles of the universe, like math and science, without the need for
accountants, bookkeepers, banks, or governments. The most plain and simple way to understand
the word “blockchain” is by separating the word “block” from the word “chain.” So, imagine a list of transactions showing
payments sent to and from people getting listed one after the other as they occur.
Then, once the maximum amount of transaction
data in the list has been reached, the list of records becomes a block of data. This block of data is then added behind a
previous block of transaction data linked together with a chain. Nice, so the word “blockchain” simply
represents groups of transaction data linked together. So, the most plain and simple explanation
of the bitcoin blockchain is that it’s records of bitcoin transaction data stored on a network
of computers around the world. And there are 3 pillars of blockchain technology
that make it unique: 1. Decentralization
2. Transparency
3. Immutability
Pillar 1: Decentralization The word decentralization in blockchain is
twofold.
One, it means that instead of data being stored
in one place, like one computer in one office, data is stored on multiple computers all around
the world. And two, decentralization also means that
no one person, corporation, government, authority, or any entity controls any aspect of the data
recording and storage process. For example, currently we have a central banking
system controlled by the government, a central authority, who issues fiat that can reside
in accounts controlled by Bank of America or other similar centralized entities. Each of these entities are in complete control
of where and how their data is recorded, stored, and managed. They can decide what type of servers to use,
where the servers are located, and how their security protocols work. In contrast, blockchain allows transaction
data management to be decentralized on a network of computers around the world using open source
software.
And any changes to the blockchain protocol
have to go through a consensus process that no one person, company, or government has
control over to protect the integrity of the network. So instead of a centralized entity like the
IRS deciding how and where all their data is stored on certain servers in certain locations,
a decentralized blockchain network is distributed on many devices all over the world. That is the essence of the “decentralization”
pillar.
Pillar 2: Transparency
Transparency in blockchain describes how transaction data is recorded on a public ledger that is
available for anyone to see. This ledger of transactions is saved on a
network of computers around the world which makes it impossible for the data to be changed
or altered. To better understand the value of transparency
in data recording, storage, and management, let’s compare these two scenarios:
Currently, most citizens of the United States do not know how every stimulus dollar for
Coronavirus aid was spent.
We just have to take the government’s word
for it or draw our own conclusions from media stories. And even if the government had to show us
where every penny went, it would be very easy for them to forge or manipulate any data they
chose to share with us, since they control their own data and create their own reports. You can see how this scenario is not exactly
transparent, nor trustworthy. So, let’s imagine a different scenario where
all US citizens had access to a live, running ledger of where every single stimulus dollar
was spent by the government at any moment in time.
Basically everyone could see a full disclosure
of how our government is managing our money. And this scenario is more trustworthy and
transparent, the 2nd pillar of blockchain technology. Pillar 3: Immutability
Immutability means that the data recorded and stored on the blockchain cannot be changed,
forged, or altered. This is achieved through math and computer
science, more specifically cryptography & blockchain hashing processes. If you would like to see a more in depth video
explaining what blockchain is and why it was developed, you can check out my blockchain
audio guide on this channel. So to recap:
Blockchain uses math and computer science to record and store data in a way that ensures
once new data is verified, it is unmodifiable, it’s distributed across a vast network of
computers around the world so it’s hard to destroy, and no one person or entity controls
the data or network, creating a transparent environment.
And bitcoin is a use case of this blockchain
technology. Its use being a digital currency that people
can use as a form of payment to send to and from each other or hold as a store of value,
similar to gold. Nice. Now that you are familiar with some of blockchain’s
important features, let’s talk about some technical details specific to how bitcoin
works. Chapter 4: How bitcoin works? So the bitcoin blockchain is basically a live,
running ledger of all the bitcoin transactions. The structure of the bitcoin blockchain is
a network of computers around the world with bitcoin software installed on them. Each time a bitcoin transaction occurs, that
data is transferred throughout the network of computers. Computers that maintain blockchain networks
are commonly referred to as nodes. And these computers validate transactions,
add the transactions to their copy of the ledger, and then broadcast the ledger changes
to all of the other computers on the network in the form of a block.
Each block of transactions has a programmed
maximum amount of data it can store, so on average, every 10 minutes or so a new block
of bitcoin transactions is created, validated, and published to the bitcoin blockchain. So who are all these people with bitcoin software
installed on their computers around the world validating transactions and why would they
want to do this? Well, bitcoin transactions are verified and
broadcasted to the network via a process called mining and this process is completed by miners. Miners are these people or pools of people
that use computers with bitcoin software installed on them to maintain the bitcoin blockchain. Maintaining the blockchain involves keeping
the bitcoin transaction ledger clean, consistent, and permanent by grouping new transactions
into blocks and publishing them to the rest of the network for verification.
So, for a new block to be accepted by the
network, miners compete with each other using computing power to verify transactions in
exchange for rewards. These rewards are in place to incentivize
miners to participate in the mining process to ensure the bitcoin network continues to
be audited and essentially maintained. The technical details of mining are complex,
so I break it down in another audio guide all about mining. So without losing sight of this video, the
basic concept you need to know about bitcoin mining, is that miners are rewarded with bitcoin
each time they verify a new block of transactions. And mining rewards are a combination of newly
minted bitcoins that were not previously circulating, and transaction fees of bitcoin that were
already circulating. There are existing bitcoins currently in circulation,
and there are some bitcoin not circulating right now. Which brings us to the next chapter. Let’s talk about the supply of bitcoin. Chapter 5: The Bitcoin Supply
A characteristic Satashi Nakotomo programmed into bitcoin was a maximum supply.
So the total amount of bitcoin that can ever
exist is 21 million bitcoin. Satoshi implemented a maximum supply of bitcoin
so it would mirror an inflation rate similar to gold. And thinking back to the mining process we
discussed in the previous chapter, you will start to see many similarities between bitcoin
and gold, which were all by design. Bitcoin was created to be like a digital gold
of sorts. Currently, 18 million bitcoins are in circulation
of the 21 million total supply. New bitcoins are minted into circulation during
the mining process when new blocks are verified. Currently, the amount of new bitcoin entering
circulation is 6.25 bitcoin per block, and it takes approximately 10 minutes to verify
a block. Another characteristic Satoshi programmed
into bitcoin are what’s called “halving” events.
Halving refers to the reduction in bitcoin
block rewards issued to miners by half. Block rewards halve every 210,000th block,
which on average turns out to be approximately every four years. May of 2020 was the most recent halving, which
decreased the block reward from 12.5 bitcoins to the current rate of 6.25 bitcoin. So, at the time of this video, about 900 new
bitcoins enter into circulation every day until the next halving event, making the annual
inflation rate 1.8%. The advantage of having a fixed supply is
that bitcoin’s inflation rate will eventually reach 0% once the last bitcoin has been mined. Currently, the last bitcoin will be mined
in the year 2140, which is about 120 years from now. A fixed supply and high demand creates scarcity,
which typically increases the value of assets like gold, and can be expected to play out
in the case of bitcoin as well based on its performance in past halving events which we
will discuss in chapter 7.
Another advantage of a fixed supply is you
don’t experience issues like we will experience in the future with the US dollar. Bitcoin was programmed in such a way that
new bitcoins enter into circulation at a fixed rate that halves over time to curb inflation,
and the new bitcoins are distributed to miners proportionally to the amount of work they
produce. The US dollar, on the other hand, doesn’t
have a fixed supply, so at any time, the government can print more fiat. And who decides who gets the money? Where does all this money go? Newly printed fiat is not equally distributed
to people who are producing in the economy like in the case of bitcoin miners. The people or corporations closest to the
government’s money printer get first dibs on the new, free money, typically in the form
of low-interest loans, which is not a fair, neutral way of adding US dollars into circulation. In response to the Coronavirus pandemic, the
government has recently printed an unprecedented amount of fiat that will eventually result
in hyper inflation and devaluation of the dollar, which will basically greatly reduce
the purchasing power of the US dollar over time.
In contrast, bitcoin over time will increase
in purchasing power as the available supply continues to decrease, so long as demand remains
steady and most likely increases in these times of uncertainty. But what if there’s not enough bitcoin to
go around? What if 21 million bitcoins aren’t enough
for everyone who wants to use or store it over time? Luckily, similar to the US dollar, bitcoin
is actually divisible. So like how the dollar can be divided into
smaller units like quarters, nickels, dimes, and pennies, bitcoin can also be divided.
Here is a chart showing the different denominations
of bitcoin from 1 unit of bitcoin, all the way to the smallest unit of bitcoin, which
are called Satoshi’s or “Sats,” for short. One Satoshi is one hundred millionth of a
bitcoin, or bitcoin to the eighth decimal place, which is represented as a decimal followed
by 7 zeros and then a 1. Smaller units of bitcoin and standard denominations
make using bitcoin as a day-to-day currency much easier, as it would be too limited to
try and pay for things with a one whole unit of bitcoin, which at the time of this video
is worth around $9,000. That would be like trying to buy a bottle
of water with a gold bar, which wouldn’t really work. At the time of this video, 1 satoshi is worth
less than a US penny. So you can see how bitcoin is actually more
divisible than the US dollar and most other fiat currencies as well, as the smallest denomination
of US dollars is a penny representing 1/100th of a dollar, while satoshis represent a whopping
1/hundred millionth of a bitcoin.
Satoshi Nakamoto knew that in order for a
currency to work in a society as a medium of exchange, it must be easily broken down
into smaller increments so it can easily represent a value equal to any and all goods or services
available in an economy for exchange. And bitcoin is more than sufficiently divisible,
as it allows for quadrillions of individual units of Satoshis to be distributed to anyone
around the world. Pretty interesting stuff. Next, let’s talk about how bitcoin is stored
and transferred on the blockchain network. Chapter 6: Storage & Transference of Bitcoin
To store and transfer bitcoin, you need to use bitcoin wallets. There are several types of bitcoin wallets
and some types are more secure than others. The two general categories of bitcoin wallets
are hot storage and cold storage. Hot storage, or software wallets, are wallets
that are on devices connected to the internet like a computer or smartphone or an exchange. Cold storage are wallets on devices not connected
to the internet, like dedicated cryptocurrency hardware wallet devices like Ledger, Trezor,
or BC Vault. Other forms of cold storage include paper
wallets and more durable materials like wood or fireproof metal wallets.
Cold storage hardware wallets are the safest
type of bitcoin wallet to use since they are not connected to the internet where you risk
getting hacked. And all bitcoin wallets generally consist
of two things: private keys and public keys. Keys are also referred to as addresses. So what is a private key or address? A private key in regards to bitcoin wallets,
is a secret 256-bit alphanumeric number that is randomly generated using cryptographic
math functions. The degree of randomness used when generating
a private key is so random, it’s been described that there are more possibilities of creating
unique private keys than there are atoms that exist in the entire known universe. So you can see how the odds of creating a
duplicate private key are nearly impossible. A private key is the most important thing
to keep safe as a bitcoin holder.
Because your private key gives complete and
full control over any bitcoins associated with it. Using a private key, anyone can make irreversible
bitcoin transactions, meaning they can send bitcoin to any other person or place without
you being able to undo the transaction. Now from the private key, a public key or
address is generated. So what is a public key? Public keys, similar to private keys, are
also an alphanumeric number, however, it is derived directly from a corresponding private
key using cryptographic math functions. And the function operates in such a way that
it’s impossible to reverse engineer a public key to figure out the corresponding private
key.
So a public key or address is used only to
receive bitcoin from others. You cannot use a public key to send bitcoins
– only receive. So you could post your public key on a public
website and anyone who comes across it can send you bitcoin. In fact, in the description of this video,
you can see the public keys for my channel’s bitcoin and ethereum wallets in the donations
section. Using those public keys or addresses, anyone
in the world can donate to the channel without gaining access to the funds stored in it. So to put it simply, private keys are for
sending or spending bitcoins and public keys are for receiving bitcoins.
Let’s explore an analogy to better understand
this concept. Think about your traditional bank account
if you have one. You can provide anyone with your bank routing
number and account number to receive an electronic transfer from them. However, using just a routing number and account
number, they cannot access your actual bank account to spend your money. So think of the combination of a bank routing
number and bank account number as your public key or address. Anyone can use it to send you money. Now, let’s think about your online banking
account username and password. Using your online bank account login credentials,
depending on how your bank operates, someone could access your account and transfer funds
from it. So think of your online bank account username
and password combination as your private key. If someone logs in as you, they could initiate
transfers of funds out of your account. Simple enough right? Awesome. So let’s take a look at this public bitcoin
ledger we’ve been talking about that shows all of the bitcoin transactions that have
occurred since its creation. There are many different sources that show
the bitcoin ledger to choose from, so in this video we are looking at blockchain.com/explorer.
If you pull up the website, you will see pretty
much what I’ve been describing throughout this video: which is a list of bitcoin transactions. Under the “Mined” column, you will see
the amount of time that has elapsed since each block of transaction data was mined,
which works out to about an average of 10 minutes per block. Each block has a unique hash that is generated
by the miners when validating the block. So if you click on any of the items listed
under the hash column, it will show you all of the data associated with that block like
the time stamp, which miner verified the block, the block reward, which is that set amount
of 6.25 bitcoin per block we discussed earlier, and much more. If you scroll down, you will start to see
each of the individual transactions that make up the block.
Each transaction shows the unique hash per
individual transaction created by the miner, as well as the public addresses associated
with the transaction. These public addresses represent a mix of
wallets on exchanges, software wallets, hardware wallets, and all kinds of different wallets
people are using to transfer bitcoin. As you can see, this public ledger shows a
lot of information about the transactions without revealing the identity of the people
sending and receiving bitcoin. Bitcoin transactions are not completely anonymous
though, so if anyone had some knowledge about the amount of bitcoin transacted, the date
and time, and the public addresses involved, you could use the public ledger to trace activity. So as far as bitcoin wallets go, I highly
recommend investing in a hardware wallet like the Ledger backup pack or BC Vault for storing
and transferring bitcoins, as they are a safe form of cold storage. Go to the description area and click on the
links to access the correct, official websites safely and securely.
Make sure you only buy hardware wallets from
the correct, official websites to avoid getting a hacked device. Never buy a used hardware wallet and always
buy directly from the manufacturer. When your device arrives, feel free to visit
my YouTube channel and watch the corresponding wallet’s set up videos if you need any guidance. Cool. Next let’s talk about bitcoins value and
how to buy bitcoins.
Chapter 7: Investing in Bitcoin
So what determines the price of bitcoin? The simplest answer is supply and demand. As demand for bitcoin increases, and the supply
decreases, it causes the price of bitcoin to increase. Okay nice, but why would people want or demand
bitcoin in the first place? Why would anyone want to trade their valueless
fiat debt repayment instrument for magic internet nerd money? Well, since the Coronavirus pandemic, a lot
of people have lost faith in the government, stock market, and financial system at large. And since the printing of trillions of US
dollars, even cash reserves are a losing proposition because printing more money is the same thing
as trying to cut a pizza into smaller pieces to feed more people. It’s not going to end well. And Satoshi revealed his idea for bitcoin
in 2008, in the midst of our last financial crisis and launched it the following year
in 2009. So bitcoin was actually designed to be a hedge
against our current financial system. Bitcoin was born during a crisis and was built
to survive crises.
It’s been around for over a decade now,
and for the first time ever, we are seeing bitcoin decouple from the traditional stock
markets and prove itself as a safe haven in times of uncertainty. In the past, bitcoin and the cryptocurrency
market’s performance typically correlated with the stock market. However, in the recent months, we are now
seeing the stock market open and close at a loss, while the crypto markets increase. This inverse movement reveals that cryptocurrency
is separating, or decoupling, from traditional financial assets and becoming more distinguished
as a different type of financial asset. One that people are just starting to flock
to during times of uncertainty, transforming their fiat into something they believe will
retain its value over time, and almost certainly increase substantially over time. As we discussed previously, programmed halving
events decrease the supply of new bitcoin entering into circulation.
And the price of bitcoin increases when supply
decreases and demand increases. So, the new supply of bitcoin decreased by
50% and demand for bitcoin during these uncertain times is increasing. If you look at the historical data of the
price of bitcoin following previous halving events, you see the price increasing nearly
10 fold, several months after the halving takes place. After the first halving in 2012, bitcoin went
from around $10 per bitcoin to over $1,000 per bitcoin.
After the second halving in 2016, bitcoin
went from $1,000 up to $20,000, and settled around $10,000 per bitcoin. The third halving happened in mid-May of 2020. Is $100,000 per bitcoin in the cards in the
coming years? Is $1,000,000 per bitcoin possible in the
future? Well, if you reference data from past halving
events which occurred during the longest traditional market bull run in history, and consider the
most recent halving that happened during one of the worst global financial crises we’ve
ever experienced, anything is possible in crypto. From $0 per bitcoin to over a million per
bitcoin. And bitcoin is proving to be one of the only
stores of value we have the opportunity to invest in where we can experience our wealth
exponentially increasing over time. So if you would like to hedge against our
traditional system and invest in bitcoin, feel free to check out my ultimate beginner’s
guide on how to buy bitcoin by clicking on the link in the description area. In this guide, we walk through the process
together step-by-step, making it as easy and simple as possible and ensuring everything
is set up safely and correctly.
Or, if you would like to start buying now,
check out the description area of this video and click on the links to safely access my
list of recommended exchanges you may like to use and that support your specific country
of residence. Note that you will receive $10 worth of free
bitcoin when you invest over $100 in cryptocurrency by using the Coinbase link. Also, remember, it’s important to double
and triple check the URL’s you are accessing to ensure you arrive at the correct, official
website. There are many fake websites set up, designed
to look like an official site, just try to steal your login credentials and funds. So you can click on the links and then bookmark
the sites to ensure you always access the right one.
Another important thing you should do is invest
in a hardware wallet like the Ledger Backup Pack or BC Vault. You can also access those websites by using
the links in the description area. Awesome. Thank you for taking the time to watch my
video. If you enjoyed the content and would like
to see more crypto videos in the future, please make sure to like this video and click the
subscribe button to support the channel. Also, make sure you head over to my Instagram
account at Instagram.com/CryptoCasey for 1 minute daily videos and to ask me anything
every week on my Wednesday AMA’s.
So what do you guys think of bitcoin? Is it something you would consider buying? What other questions do you have about bitcoin? Lots of interesting things to think about. Be safe out there..
