with everyone talking about bitcoin
ethereum and dogecoin people are using
their australian dollars that are
sitting in their bank account making no
returns and putting that into
cryptocurrency or digital
assets which will hold some value in the
future now i
personally believe a lot in
cryptocurrency and blockchain technology
so i'm investing heavily into it if
you're interested to see
what sort of projects i'm invested into
you should definitely go check out this
video
but if you are interested in how you can
put your australian dollars that sit in
your bank account
a step-by-step tutorial in this video
i'm going to show you
how exactly you can do that with
coinspot which is the most
trusted exchange in australia and is
what i personally use for my
crypto needs keep watching
hey guys my name is ravi sharma and
welcome back to
personal finance with ravi sharma if
you're new here smash that subscribe
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definitely give me a thumbs up to the
video so the youtube algorithm can push
this video out to the people that really
need it now thank you so much for
joining me on this channel
the channel has been receiving so much
support i feel the love and i'm super
grateful
and a lot of people have been requesting
videos around how to actually
start with cryptocurrency i can totally
understand that if this is your first
time that you're getting around you know
your head around
understanding how you can actually
invest in crypto and buy
bitcoin and ethereum i'm going to show
you a very simple
and instant way for you to actually
start purchasing what i believe
will be a large part of the future in
terms of decentralized finance now in
this video we're going to talk about how
to sign up whether that's in your
personal name
company name or a self-managed super
fund we're also going to talk to you
about
how you can deposit funds into the
actual exchange
and it's actually super simple so i'm
going to show you that when we jump in
but also the main features so
where do you go to check you know your
wallets and how do you protect yourself
in terms of security
and then we go into how to buy and sell
instantly
it's actually a very very simple method
and i'm going to show you exactly how to
do that in this step-by-step tutorial
now the beauty of this video is that you
can just pause
do it alongside with me so that you
aren't making any mistakes if you do
have any sort of questions that come up
definitely contact me if you want
there's an email in the description
below but the support team
with coinspot is by far the best from
any of the exchanges i've ever used in
australia so
if you are looking for help the website
is so easy to use but also they have the
support that is really there
now let's jump in so when you're
creating your new coinspot account
you simply come here you put through
your email here you create a password
and then you can add an affiliate code
or referral here and we're just going to
put mine in there and you can find this
again
in the link in the description below if
you simply want to get started you can
click on there
there's a link there and include the
affiliate code straight away which
enables you to get the 10
free bitcoin and of course you'd say i'm
not a robot unless you are a robot then
that's definitely up to you
now of course i've already got an
account here so we're going to hop into
my account shortly
and i'm going to show you exactly how
you can use the features so when you
come on to the actual dashboard
what you're going to see is you've got a
few options to quickly deposit
so you've got deposit instantly into
your account so that's poli quick poly
pay id and there's a few other options
so we'll definitely go through that
but then when you come through and of
course i've got everything blurred at
the moment
because this is my portfolio if you're
interested in knowing what my portfolio
looks like i've made an update on this
channel
so i make one monthly so if you're new
here subscribe so you can keep up to
date with my portfolio performance but
you can check out my latest
update in the link in the description
below but as we go through in this
portfolio
you can see here a graph of how you can
visually go up and you can have
different options of one day one week up
to about a year
and then your main holdings as a split
in a pie graph
when you come down you can see popular
now so obviously everyone's getting on
to dogecoin there's ethereum bitcoin
ethereum classic xrp and ud usdc
and teva and then you'll have your
wallets as well as some recent movers
popular today just elaborating on what
was there before
but you also get new coins so quite
often coin spot will
list new coins and new projects which is
really exciting
and definitely do your research of
course none of whatever i talk about on
this channel is financial advice but you
should definitely go check out
you know some of the new projects that
do come up here very interesting stuff
i'm definitely bullish on poker markets
at the moment so
do your own research but essentially you
come down and you can see what's
happening
as a snapshot now what's important here
is we can go into deposit funds right
now when you come into the deposit funds
you will have a limit
of how much you can actually deposit so
over here it says my daily deposit limit
is a hundred thousand dollars
you have a hundred thousand remaining
today because i haven't deposited
anything
now i personally use poly and it's super
simple it's very instant as well and so
all you'd have to do
is here i've got a deposit limit of 20
000 and you could go in and say okay i
want to deposit
say 200 and you can select which bank
account
and let's say you're with cba and you'd
continue to poly
and what that will do is that opens up a
new tab
what you will do is once you say
continue it will go through and
input well you'd be required to import
your bank details
now of course i've got mine blurred out
but essentially once i log in
it will just you just need to follow the
prompts and it allows you to actually
deposit the 200
so now the other options you also have
is pay id
now here it's just saying there's a bit
of a warning here and say i understand
and continue
so something to note is obviously when
you're doing this for the first time
it can take up to 24 hours before those
funds clear so definitely keep that in
mind
but you can go through pay id you've
also got bpay
which is an option i personally only use
poly because it's just super simple
you've got the cash deposit and you've
got direct deposit as well
you've also got a history of all the
deposits you've made just in case you
wanted to know
once you've got funds in there and they
are active and processed that will
actually appear here
in the account funds and that will tell
you how much you have available so the
next thing you could do is
essentially go to buy and sell now i'm
going to show you exactly how easy this
is
sometimes when people say oh buying
cryptocurrency like they get freaked out
because there's so much happening
but i'm going to show you how easy it
actually is so when you come down here
and you see all of these projects now
there's
probably about 300 here what i want you
to focus on is
how easy it actually is to purchase now
let's say for instance i come on here
and i see bitcoin being the number one
market cap it's number one
so i just go buy btc now if i wanted to
do this in the most simple way i could
literally go
well how much btc do i want to purchase
so it's in aud so if i had
put 200 it tells me the price at which
i'm buying
bitcoin at now mind you this is an
australian channel
and australian website so this is in
aussie dollars and
all i would have to do is press buy now
of course in this case
you would confirm buy but i don't have
any money in the account so i can't
confirm that buy
but as soon as you've purchased right
and this is the the simplest way to
purchase
once i've confirmed that once i go into
my wallets it will
update and show that i've got 200 worth
of bitcoin in there which equates to
this number of bitcoin here
but there are a couple of other features
now some people get you know
sort of flustered when it comes to
buying and selling cryptocurrency
they don't understand how easy it is so
if i was to actually go and sell
because this is a big question people
ask as well is hey how do you withdraw
funds
so if you actually just press up here
and you go to sell well you can put in
well i've got 200 worth um well in this
case
so what you would do is you would see
how much bitcoin you actually have
and if you wanted to sell max you could
just sell it there um
but if you say had one bitcoin that's
how much you would get
at the moment my balance is zero because
i own no bitcoin in this account
and i would simply press sell and
confirm the sell
right so fairly easy stuff here that's
the most simplest way to buy and sell
cryptocurrency
now most people will never have to look
beyond this but what i will do
is go further into what you can do and
what sort of options you have
but if you're looking at a very simple
step-by-step process of buy and sell
that would be it but i would urge you to
stick around because there are some
hints and tips
that you can pick up now one of the key
things here
is as part of your research you should
definitely know what these projects
actually do
and get your head around it so there are
summaries down here you know like what
is bitcoin
but what i would prompt you to do is
have a look at the charts now
sometimes these charts can be daunting
as well but it doesn't need to be
if you simply were to go out and say
like you know a very easy
two minute sample of what i would say is
uh key here
is if i was to go all time right now
based on this graph it looks like we've
gone on this massive run and it can't go
any higher
but what i would say is that it felt
very similar to what was happening in
2017
and that's why it's important to do your
research and understand what's actually
happening
with coinspot you have the ability to do
some research here
but you also can extend that out and go
on to like coin market cap
and just look at it more extensively if
you have the time so now that you've
bought and sold
bitcoin right it's very simple and what
that would do is once you sold bitcoin
as well
uh or any crypto it would appear in your
account funds
all you'd have to do is you go and
withdraw those funds and that's very
easy to also do
so when you go there's another option
you have up here which is called swap
so what swapping is essentially is a
crypto project that you actually have
right now
and you're swapping that out to sell and
buy something else
now keep in mind this is still buying
and selling
but it just means that you're converting
it from instead of going from one crypto
to aud and then from aud to purchase
another one you're simply going and
cutting out that middle process and
going from
bitcoin to say ethereum so let's say i
have bitcoin
and i want to swap that so let's say
i've got one bitcoin here
that's how much it's worth in aud if i
was to swap it
or if i wanted to actually change that
and go into say
ethereum and so what that would say is
btc to
ether and that would basically mean i
would get 16
ethereum coins and all i'd have to do is
say swap
again confirm swap and that's your fee
as well as the total there
very simple stuff can't get easier than
that now
the other thing you can do is order
right now this is i'm showing you this
on
just bitcoin but what you can do it
applies to all the cryptocurrency and
just to show you
that it does work on all other cryptos
we're just going to use ethereum
and we'll go to buy ethereum and we go
to order
and now we have a few more options up
here okay so i'm going to walk you
through exactly what that means so the
first one we have here is a stop
loss essentially what a stop loss is is
that
it will signal that if ethereum sell
price
falls to whatever the price you put in
here so let's say at the moment it's
4234
and let's say we say if it falls to four
thousand dollars
i would like to sell however much you
want to sell so in this case if i had
one ethereum coin
i would simply put you know one ethereum
or in this case i would put an
australian dollar
basis on there and that would mean i can
enter this stop loss
now why you would want to do this is say
the market is volatile or you've gone
look i've made x amount of profits if i
sell at four thousand dollars i
still make a lot of profits because
let's say you bought it at a thousand
dollars
now if i sell at 4 000 amazing
i don't want to lose that money so when
you know things are volatile and choppy
and changey
you might go well yeah i could sell it
right now for 4200 but maybe i'm going
to sleep right
and i don't want to actually sell at
4200
because i believe the prices might go up
tomorrow
but in case it doesn't and somehow that
tanks for whatever reason
you've protected yourself with a stop
loss and you can essentially put that in
and what that will do is it will sell
automatically on your behalf
if you are to see that price fall now
the other thing is
you have take profits now you can do the
opposite which is basically
if ethereum reaches a certain price then
i would like to sell
x amount so for instance if we are
seeing it sit
at 4233 for now what we will do is go
well
i think it might hit 4500 tonight so
what i'll do is i'll put 4500
and i'm happy with that amount of profit
i input how much i want to sell
and again set take profit which means if
i go to sleep tonight
or i'm at work and this number goes to
4500
it automatically sells it for you so you
don't have to be active sitting there on
your computer all day
so that's what take profit is so now we
know what stop loss is we know what take
profit is
now what's a buy limit now with buy
limit
this one is suggesting that if the
ethereum buy price
falls to x amount i would like to buy x
amount
which basically means at the moment if
we've got a price of 4337 we want
price to fall to say four thousand
dollars and we know that if it falls to
four thousand dollars i would like to
purchase more aetherium
and so all you would do is i would say
four thousand dollars here
and i'd like to buy ten thousand dollars
worth of ethereum
which would give me two and a half
ethereum coins
and i would set that by limit which
essentially will mean that if it falls
to that price
automatically the system in the back end
will go and purchase ethereum for me and
so this is a really useful tool
especially if you're not on your
computer you're not actively doing this
the other option you have is a buy stop
so if ethereum buy price
rises to x amount i would like to buy x
amount
so let's say for instance you are
looking at the charts and you know that
there's a real big resistance point for
ethereum at say 4500
because it's such a psychological area
now let's say it does reach
4550 you might have a buy stop order
which
basically means that at 4550
we've got confirmation according to your
research
that we might see higher prices after
this and i don't want to miss out so
what i could do is
enter here 4500 and
what that will essentially do is it
means that once it hits that price
i will be purchasing 10 000 worth of
ethereum
which would give me 2.2 ethereum coins
and this would be you know let's say
confirmation that
i'm ready the charts have made sense
then now we're going to get that
breakout to
say new all-time highs i personally
don't use buy stop or buy limit i
personally
you know look at what's happening in the
market i pre-plan have a strategy and
that's super important if you're keen to
learn what the strategy looks like
definitely leave me a comment down below
so we've covered dashboard
wallets buy and sell and swap now we go
into bundles now this is
exciting especially if you're new to the
whole crypto space and you don't really
have time to
you know want to learn about different
things and different projects because
there's so many
what coin spot bundles is is the simple
way to diversify your portfolio
and this i would like to you know sort
of approach it like an etf
it's just a basket of all of these
cryptos into one and you can just go in
and automatically buy it so it tells you
here it's a buy assets in
once transaction with coin spot bundles
you diversify your holdings
instantly by accessing cross section of
cryptocurrency projects
it saves you time avoiding multiple fees
which is fantastic right
so if you go here they've done really
well on coin spot i haven't seen any
other exchanges do this
and so here you can see top three market
cap which would be
bitcoin ethereum and binance you've got
top 10
and then you've got a bitcoin bundle
you've got a social bundle
ai bundle animal bundle supply chain
bundle gold and silver bundle and nft
bundle for the purpose of showcasing
what these include
of course you can go into any one of
these but if you were to go to the nft
bundle
you would see there's all of these coins
that are made up of the entire portfolio
so these would be nft coins that have
come up you can also read
a little bit about it here coin spot nft
bundle is comprised of five
cryptocurrencies listed
on the coin spot that are developing
solutions to support the adoption of
non-fungible tokens
okay so once you come up here it's
automatically
designed the percentages in these
projects
and what you would do is go look i'm
interested in purchasing say
500 worth and what that will do is it
breaks it down to show you
how much of each coin you would have and
this makes it super easy to just
diversify
your risk but you really believe in the
nft space
i personally believe in the nft space i
think it's new i think
the long-term collectible nature
of what this space is doing i think is
fantastic and
so this would be a very easy way to get
into it without having to
individually see projects and spend time
researching if that's what you
can't do so basically that's how you buy
and sell
cryptocurrency whether it's bitcoin
dogecoin ethereum
or nft bundles it's super easy to
actually do
and this is why i like using coinspot
for me it's
super easy to get in and get out and
having an
interface that's so easy to use and they
have an application on your phone
it means that you can stay up to date
with how your portfolio is tracking if
you'd like
now if you are interested in getting
started with coinspot there's a link in
the description below
and you can use my referral code to get
10 free bitcoin
i will leave all the information about
how to access that in the link in the
description below and if you've enjoyed
this video and a thumbs up will
definitely go a long way into supporting
my channel
and of course it allows me to keep
bringing out good content like this
if you are interested in more
cryptocurrency real estate and financial
freedom videos definitely subscribe and
i'll catch you guys in the next video
thanks guys