It’s yet another Crytpo Tutorial Thursday video. Today’s video is “How to Buy WTC”. If you are unfamiliar with WTC, it is the symbol for the cryptocurrency Waltonchain. WaltonChain is based off of an incredible technology and comes from some of the brightest minds in Korea & China. Asian cryptocurrencies such as IOTA & NEO have seen incredible progress and look for Waltonchain to be coming right behind them. Right now the price of WTC is hovering between $18 to $23, but ultimately it will probably get much closer to what NEO is at… which is well over $100 per coin.
One of the most important thing for crypto investors to learn how to do is how to read a candlestick chart in crypto. Without knowing how to read a chart, it is impossible for investors to make educated guesses on the movement of a cryptocurrency. One of the most widely used style of charts is the candlestick chart. On this chart, movement is marked by shapes that are referred to as candles & wicks. By looking at a candlestick chart, investors can easily determine the pattern that a coin has been on.
One of the basic fundamentals of good internet practice is securing your email accounts, financial accounts, social media accounts, and technology accounts with a great password. But with a lot of misinformation and perpetual bad practice surround passwords, I wanted to do a video & blog post where we go over generally good password rules for keeping all of your accounts safe.
For last weeks Extra Crypto Friday video, we showed you a full tutorial on how to use the website Coinbase. For today’s video we are going to be focusing on a How to Use Binance Full Tutorial. Many people are very scared to make the jump from Coinbase to Binance or another exchange. If this is a place where you are then you should be commending yourself. Many people stay stuck at the previous step… which is making an actionable step and buying crypto even on Coinbase. Binance can be quite a bit more intimidating than Coinbase, though.
The thing that separates Binance from Coinbase in terms of an intimidation factor is the Markets page. For people who handle their own stock investments, learning to use a crypto exchange is pretty easy because there are a lot of similarities. However, many people interested in investing in cryptocurrency are not well versed in how to read an exchange, charts, volume, etc. For this reason, many people take one look at Binance or another exchange (such as Kucoin) and decide it is too daunting for them to begin. I know personally, when I went to Binance the first time even I was a little intimidated.
But here is my advice to you: Do not be intimidated. Easier said than done, right? Binance is a very easy platform that really only has a few different functions most people ever use. Here are the things you need to know to do on Binance to be able to trade there. Simply learn how to trade, how to deposit, & how to withdraw.
That’s pretty much all you need.
How to Trade on Binance
Trading on Binance is pretty easy. The first thing you need to understand when trading is what a trading pair is. A trading pair is a combination of two coins that you can exchange for one another. The three trading pairs partners you need to know on Binance are Bitcoin (BTC), Ethereum (ETH), & Binance Coin (BNB). To make your initial purchase for BNB, you already need to have BTC or ETH in your account. The reason you need to trade for BNB once you get on the site is because if you keep a few BNB coins in your account then the fees you are charged on exchanges will come out of your BNB coins. Why is this important? The reason this is great is because when you use BNB instead of other coins your fees are cut in half.
The exchange platform for Binance is very straight forward. The most important factor when trading is to make sure you choose Limit or Market. When you make a trade on Limit, then you are working on a bidding system and your trades will not go into effect immediately. When working a trade on the Market setting, your trades will go through immediately. If you are planning on day trading then this is very important to understand.
Thanks for reading. To learn more about exactly how to trade on Binance, watch our video, “How to Use Binance Full Tutorial.”
In many of the videos we do on our channel, the sites we visit and discuss require what is called Two Factor Authentication. Because of this, we thought it would be great to discuss how to use Authy. Authy is a phone app geared to help keep your online accounts secure with an extra layer of protection. Google Authenticator is another app that you can use, but here at the Online Business Realm, we stick to Authy and find it to be superior to Google Authenticator. Any site that requires 2FA will allow you to use Authy; even if it does not specifically say so.
For our CryptoCurrency Thursday videos, we like to show you ways to buy different types of cryptocurrencies. Today, we are going to be showing you how to buy Ripple. The symbol for Ripple is XRP. So why would someone want to learn how to buy Ripple? Well, the answer to that question is the same reason why anyone would want to buy any crypto: to make money and get a good return on investment. With all of the talk of the moon and Lambos for all investors, it is super important to know what you are buying so you do not fall into delusions of grandeur.
We have shown you how to buy several different cryptocurrencies in our videos, tutorials, & posts. However, we have yet to show you a full tutorial video on how to use Coinbase. Without an understanding of how Coinbase works, it will be difficult to understand any of our other videos. For that reason, we wanted to make this blog post to show you how to use Coinbase.
Coinbase is a simple website to use. However, for many people just the idea of making the jump from researching Bitcoin to buying Bitcoin can be a massive leap of faith. If you read our last post, then you know why we are big believers in Bitcoin & cryptocurrency. Try Coinbase out for yourself! It is a great site and cryptocurrency is a fun hobby.
Coinbase has four cryptocurrencies currently listed on the site. They are Bitcoin, Ethereum, Litecoin, & Bitcoin Cash. These four cryptocurrencies make up four out of the top five cryptocurrencies in terms of market cap. Market cap is the total amount of money invested into one specific coin (or also the total market cap which is the total invested into cryptocurrency as a whole). To give you an idea of where the market cap for cryptocurrency currently stands, the market is about half as big as the company Apple. Apple is worth about $900B. Cryptocurrency is currently around $460B. However, that number changes quite a bit on a daily basis.
What Can You Buy Next on Coinbase
To see exactly how to use Coinbase, please watch our step by step tutorial video. It will give you the ins and outs of the cryptocurrency purchasing platform. While we understand what we can currently buy on Coinbase, it is rather fun to speculate about what other coins can possibly be coming to Coinbase soon. Coinbase has shown a propensity to place coins on their site that are on the top tier of crypto market caps. I mentioned four out of the top five coins are currently on Coinbase. So why is Ripple (XRP) not listed since it is number three in market cap?
That’s a good question and has led to quite a bit of speculation. At the beginning of January in 2018, the crypto world was ablaze. This was partly due to the fact that almost everyone in the crypto world believe Ripple was going to debut on Coinbase by the end of January. However, Coinbase announced it would not list Ripple. This was a huge blow to Ripple and led to a huge downturn for the currency.
Many people believe that Ripple, a centralized coin, does not qualify as a coin that Coinbase would list (due to its centralization in nature – all other coins on Coinbase are decentralized). This leads many to believe that Ripple’s decentralized cousin, Stellar Lumens (XLM), could be next on Coinbase. Some other frontrunners for the honor could be NEO, ADA, DASH, & XMR. We hope this information has been helpful!
Our Crypto Thursday videos have been immensely popular with our audience. However, we have yet to do a video on How to buy a Bitcoin with Coinbase. Well, you are in luck because today we are going to show you how to do just that. Coinbase is a super easy website to use… which is probably why it is the premier destination to buy Bitcoins on the internet. The first thing you need to do to buy Bitcoins is to create an account on Coinbase. You can do that by going HERE.
Once you get into your Coinbase account, you will see that there are 4 different coins listed there. The default coin will be Bitcoin. You can see the Bitcoin current price, percentage increase or decrease, and the chart. You can see the chart for several different time increments including 1 hour, 1 day, 1 week, 1 month, 1 year, and all time. This is very useful to be able to see the trend that Bitcoin is currently on.
If Bitcoin is on a spike then it may not be the best time to buy it. You want to wait until what is called a “dip”. This is when a coin has been on an increase and then takes a small decrease. Unless there is some type of bad news surrounding a coin, dips typically go back up pretty quickly. I’m not a financial advisor, but that is my personal opinion on the best way to buy crypto in general according to a chart.
Buying Bitcoin inside of Coinbase is very easy. All you have to do is go to the Buy/Sell tab. From there select Bitcoin and type in the amount you would like to buy. You can use your bank account or debit card.
Why Buy Bitcoin on Coinbase
I’m going to give you my own personal story to show you why I like cryptocurrency so much and why I think it is a good idea to learn how to buy Bitcoin on Coinbase. Several years ago, I began using a software online for one of my businesses. Some point during my use of the software, the creator chose to accept recurring payments in only Bitcoin. The cost to use the software was about $150 every 3 months. It was very confusing to learn how to use Bitcoin around 2012. However, I figured it out and was able to make my purchase. Instead of putting $150 in, I put $165 in my account. After making my payment, I let the extra 120 Bitcoins I had left over sit in my account and I forgot about them.
The next time I had to make my payment, I used a different platform. Several months later, I went back to my account with the $15 worth of Bitcoin left in it. The 120 Bitcoins I had there ballooned from being worth $15 to being worth $2,000. I had made almost two grand by doing nothing. I was terrified that the price would drop again so immediately pulled them out and sold them. At the time, I was extremely happy about my sudden comeuppance. However, fast forward to December of 2017 and those same 120 Bitcoins would have been worth $2.5 million dollars. I still kick myself to this very day, but there is nothing I can do other than learn from my mistakes. As you may be aware of, many people have become millionaires and billionaires from Bitcoin over the last few years. There is no reason to think that trend will not continue.
If you have ever wanted to be able to grab a video off of YouTube for you own purposes, then you are in luck because I’m going to show you how to save YouTube Videos with ClipGrab. It’s a common problem for a lot of video editors. You are working on an incredible project, but you are missing a sound effect. All that your project needs is a clear and crisp sound effect of a rainstorm. However, you don’t have a library to go to to find the sound effect. So to try to find a sound effect that will work, you head on over to Google and start searching for “Rain Storm Sound Effect”.
You start scrolling down the page and find several sites with the sound effect. You go to each of them only to find out that they will be glad to give you any sound effect you want; for a monthly fee. Or maybe they offer you the clip at a fixed cost per clip. Either way, you don’t want to pay for a 20 second clip so you decide to keep searching. This time, you search for “Free Rain Storm Sound Effect Clip.” This search leads you to more websites that supposedly have the clip. You click on one of the sites listed only to discover that it is a danger site full of spyware. Sites like this will allow you to download the clip… if you also download a spyware toolbar for your browser!
Then like a beacon of light, you realize that at the very top of the Google search results were two videos of perfect rain storm clips. The issue is, how do you take a YouTube video off of YouTube and on to your desktop?
ClipGrab Makes Saving YouTube Videos Easy
This is where ClipGrab comes in. It is a super easy and simple software that allows you to pull videos directly from YouTube with ease. Head on over to ClipGrab.org in order to download the program. A great feature of this program is that it allows you to use it whether you use a PC or a Mac. Many programs are made specifically for one or the other, but fortunately ClipGrab works for both. When you navigate to the website, ClipGrab will automatically select the version you need for your computer. Download the program and then go through the installation steps.
With this program, learning how to save YouTube videos with ClipGrab is a breeze. In order to grab the rain storm sound effect, all you need to do is navigate to the video you are trying to get in your web browser. Once you are there, copy the URL address for the video. Head on over to your ClipGrab software and paste the URL address in the empty field space in the program. Click “Grab this clip!” It will take a short period of time to process the video. Then just choose the file name and location of where you want the file saved to. Once you have done that, then your video will be saved and you can insert it into your video editing program. You are good to go at this point!
We have had such a great response to our Crypto Thursday videos, that we have decided to post more cryptocurrency videos & tutorials. While Thursdays will still consist of videos showing you how to buy specific coins (and additional info about each coin), on Fridays we will be reaching out to other areas of cryptocurrency such as wallets, chart reading info, and more. We are very excited about this and hope that you will be as well.
For today’s video & blog, we are taking a look at a MyEtherWallet tutorial. MyEtherWallet is an online wallet where you can hold any token on the ERC-20 network. The ERC-20 network is better known as the Ethereum Network. While Ethereum is the base for the network, there are several other tokens that are also on the network. Some of these include, EOS, Quantum, Tron, & Internet Node Token. The fact that you can own all of these tokens and keep them on the same wallet is a huge plus to creating a wallet here.
The wallet is pretty straight forward and offers many standard features of a wallet. It offers support for a hardware wallet such as Trezor or Ledger. MyEtherWallet provides you with multiple ways to unlock your wallet after you create it. The two easiest ways are with either the Keystore File the site provides you with or the Private Key the site provides you with. MyEtherWallet suggests using some other methods, but those are the two easiest ways (and most likely what normal investors are using). You are given both of these tools in the sign-up process.
Personally, I love MyEtherWallet. It’s a great wallet, but there are two common problems people run into with this wallet. First, because of the nature of the online storage of this wallet, if you lose your Private Key or Keystore File and are unable to get into your account, then you will indefinitely lose whatever tokens are in your wallet. MyEtherWallet cannot help you to restore them. For this reason, there are warnings MyEtherWallet gives you as you sign up detailing how to protect your account. Phishing is extremely common for this wallet. Just use common sense and you should be fine. The best way to avoid phishing is to only go directly to the site by typing the URL in the address bar instead of ever clicking a link to go to it.
The second problem people have is they have a hard time figuring out how to send tokens away from MyEtherWallet. If you look up on the top right of the wallet, you will see this information:
If you are unfamiliar with the Ethereum Network, you may think this is the stock price for gasoline. However, Gwei (or Giga wei), is the fuel that runs the network. In order to send tokens back to an exchange from MyEtherWallet you must have Ethereum also stored on your wallet. It doesn’t have to be much, but you need some to cover the transfer fees for your other tokens. I suggest adding about $10 worth of Ethereum to your account before you ever add tokens. This way you will have your transaction fees covered for a while.
To find out more about this wallet, please watch our “MyEtherWallet Tutorial”. Thanks for reading!