This is two hours of unreal value and insight into crypto trading from a professional trader if you’re getting into crypto and you need to know how to trade from start to finish how pros read the markets how to place orders how to know when and why to trade how to get in and out of your crypto trades for profit and just a practical step-by-step guide of how to increase your chances of making money with crypto trading this is it hey guys james here this is a unit by unit course to get you from beginner to confident trader all of the resources links extra information extra videos and the timestamps for each unit are listed in the description for you definitely look in there to learn more
i really hope you get a lot of value out of this video so i’m going to get started with just telling you what the course is going to give you at the end of this video this is what you’re going to know we’re going to start with cryptocurrency basics for beginners now if you already know this and you want to skip through the beginning parts then that is up to you go and check the description for all the time stamps but we’re going to go through actually what cryptocurrencies are why you would want to trade them then what is a stable coin that’s really important we’re going to go through the best crypto news and education sites so that you can actually go and do your own research also what are the best crypto trading venues for each and every user because we are all different then i’m going to go through and compare centralized versus decentralized exchanges.
Why use one over the other what the pros and cons we’re going to go through some crypto trading strategies so if you want to know actually how to go ahead and implement some strategies to try and get some money when trading crypto then we’re going to go over that that will be for beginners but that will link with a unit later on in the course which is going to go over specifically how to actually put orders in where to put orders in and why we would do that if you are new then i’m going to go over all the crypto order types as well so what is the order book what are market and limit orders why do we use these when we’re trading then we’re going to go over technical analysis for crypto that is a really big unit it is chocked full of information really great information so i definitely recommend looking at that one after technical analysis we’re going to go through and trade so you’re going to see me go through some sample trades why i chose that trade where i put my stop loss where i put my take profit and then just a recap of the course in general before we get into the course and all the units though just a quick self introduction if you don’t know who i am and you haven’t watched the channel used to work on the london stock exchange for over five years got a few certificates and this is not financial advice i’m not your financial advisor this video is not financial advice please just take it for education and information all trading involves risk and a significant risk of loss so just keep that in mind okay let’s get into it the first unit is crypto basics what are cryptocurrencies what are blockchains what are the different types of blockchain what are the different types of crypto and how can we use tokenomics to actually go and research cryptocurrencies what are cryptos they’re just tokenized assets that represent value not really much more than that not all cryptos are created equal though there are better coins better blockchains more useful blockchains and there are poor blockchains and low quality blockchains as well in terms of barriers to entry especially for us retail investors there are very low barriers you can sign up with an exchange get trading straight away with very low fees so that’s definitely a positive for trading crypto over something like forex or even stocks 24 7 trading as well there are different types of blockchain and cryptos that we can trade you have blockchains that really focus on being a currency which is just a ledger of transactions that’s all it is so the main example there is bitcoin litecoin is a fork of bitcoin and actually dogecoin i think is a fork of litecoin so it’s a fork of a fork but essentially these block chains do one thing only and that is keep a ledger of people transacting now stable coins are a little bit different they are definitely used as a currency but they’re not usually their own blockchain they’re usually built on a different type of blockchain known as a smart contracts blockchain so the main one there is ethereum this blockchain is different to bitcoin.
Whereas bitcoin is simply a ledger of transactions ethereum allows people to actually enter into contracts on the blockchain which means you can have a lot more uses on that blockchain you can actually issue different types of tokens on ethereum so you might want to go and trade let’s say uni swap which is a token that’s actually an ethereum based token these are known as erc20 tokens so it’s good to know the differences because when you’re investing in cryptocurrencies you’ve really got to know what you’re investing in are you investing in a main blockchain are you investing in a different type of token so these are the main smart contracts blockchains right now they are very different to the currency type blockchains now these are the types of cryptocurrency what do you want to trade what do you want to invest in where do you want to focus your resources do you want to trade currency tokens really here this is like trading gold or something like that where there’s not much value apart from the value that people actually think it’s worth but then you have different types of tokens like exchange tokens so a lot of exchanges like binance and kucoin will have their own tokens so you can trade those different type of value proposition you also have protocol tokens injective protocol is a good one so that code actually does something specific and they have their own token it’s going to be a very different investment proposition than something like a currency token.
D5 tokens are really popular utility tokens could have many different uses on a blockchain and can be very important over time you even have stock tokens which is a way of trading the value of a stock but with a cryptocurrency definitely some positives of doing that overall and then you have nfts which are totally different so all of the cryptocurrencies that you’ll trade will be known as fungible tokens the same as fiat currency if i gave you a dollar and someone else gave you a dollar those dollars are the same you can swap them around and give them back to someone else and they are all the same or otherwise known as fungible non-fungible tokens are completely different they are like art there’s only one picasso and painting of each certain type there is only one unique piece of art that a person makes and so that is non-fungible it cannot be swapped around and that is what nfts do as well nfts are a completely different value proposition and investment as well it’s like investing in art and fts can be used for a lot of different things though and then we come to coins and scams obviously there are a lot of these and you want to steer clear of those all right so what is tokenomics tokenomics obviously is a mix of tokens and economics we can look at the value of a cryptocurrency the supply of it which is super important if it has an unlimited supply is that going to affect the investment over the long term if it has a very limited supply then if a lot of people want to buy it the price might rock it up the volume in terms of the trade daily weekly monthly how much is the project worth so each cryptocurrency is a piece of a wider investment so bitcoin has a certain amount of coins and you add all those up and then that gives you the market cap also who holds that crypto that’s also super important because cryptos are really here for investors to invest but also for projects and companies to raise money who’s invested in it that’s obviously important to know burning tokens is also super important if a company burns tokens it literally takes them out of circulation and if you have the same demand and fewer coins then the price should appreciate and then we come to one of the main reasons of a cryptocurrency especially these days is icos and ido’s or basically initial coin offerings initial dex offerings essentially just a way for the project to issue cryptocurrencies to earn money and investments so they can build their project let’s go over to coingecko.com which is a very popular site uh for the cryptocurrency space and we can do some really easy to economics right now let’s look at bitcoin here’s the price 55 290 right now so cryptocurrencies are valued in dollars because everyone knows what dollars are and they can easily compare it to other investments it’s the world’s reserve currency everything is valued in dollars so it makes sense so this is the price of one cryptocurrency right here then we have the one hour 24 hour and seven day change in terms of the percentage price changes 24 hour volume this is all of the trading volume in bitcoin over the last day made up of all the different exchanges that do trade bitcoin it’s given as a us dollar value so 72 billion dollars worth of bitcoin was traded over the last 24 hours then we have the market capitalization which is a very easy calculation to do you take the price of each coin and you times it by the amount of coins in existence and that gives you the total value of those coins in the case of bitcoin this is a trillion dollars more or less let’s click into bitcoin and we can do some more tokenomics we can come and have a look at the market cap rank super important we can also go and look at the website if you want to know more about the project every site will have docs and you can go and read those also on the right hand side you have the tokenomics again and really important when looking at cryptocurrencies is the circulating supply and the max supply so right now we can see that bitcoin is nearing the limit of its supply once there are 21 million coins that have been made that’s it there will be no more and so we’re getting very close to that it’s going to be a good few years for making this video until we reach that supply cap but one of the main reasons that bitcoin is where it is is because of a limited supply and a high demand meaning a high price that is really very basic tokenomics though so you can really quickly compare projects very quickly but if you want to go deep then you have to go to the projects website and have a look at their docs so you can see all this information can be found in the project docs that will be on the project’s website as an example solana right here we can see the token supply distribution this means we can see who is holding it seed sale 16 founding sale 13 so founding sale is very early investors if this is very high are those founding investors going to sell out and the price goes up maybe they’ll lock in some profits so when are they actually going to sell a lot of the time founders will actually have a time limit so maybe they’ll have to hold on for two years but once that expires are they gonna dump all their coins on the market that could obviously put pressure on the price so it’s very good to know these things you also have how much the team has so the team itself that developed.
It has 13 and then the community has 40 so you can compare these distributions from one project to the next let’s recap unit one though cryptos are tokenized assets that’s all they are they represent value and they are a digital representation of that there are many types of blockchain and tokens for different use nfts are unique and not fungible cryptos are fungible each and every token each and every project is very different the tokenomics are different so we have to know them before we start getting invested before we get into unit 2 here are the best crypto news sites and info sites and how to do your own research i’ve listed them here you can go and look at them i think these are really great and full of information and will definitely give you a lot of very good knowledge about cryptocurrencies let’s get into the basics of trading cryptos then and if you’re getting value this far make sure you are subscribed and also like this video but i’m gonna go through what a currency pair is so when we’re trading cryptos we have to trade in a currency pair also what is a stable coin super important for beginners to really understand what these are a base versus a quote currency really important when you’re trading and then trading currency pairs in general okay so what is a currency pair when you trade cryptocurrencies when you trade currencies in general when you trade forex you have to trade in a pair if you want to buy something you of course have to sell something in return now when you go into a shop you’ve got all the prices there already and the thing you’re giving the shopkeeper is a fiat currency usually let’s say us dollars when you’re buying a currency though you have to give them a different currency it’s exactly like swapping your money at a money exchange when you’re on holiday so we are exchanging two currencies and this is how you will see them right here so we’ve got btc slash usdt what does that mean well each crypto has a ticker so btc is bitcoin and then slash usdt usdt is called us dollar tether it’s a very popular cryptocurrency and a very useful crypto i’ll get into what a stable coin is and us dollar tether in a second this is how we read a currency pair you have btc against us dollar tether eth is ethereum so ethereum against us dollar tether so you know this trading pair is ethereum and u.s dollar tether and then you have other currency pairs like bitcoin ethereum so if you just want to trade them directly you can trade bitcoin and ethereum this is how it will look we need to get into stable coins though because these are the entry into the crypto space and also used to trade against every other crypto so a stable coin is a crypto version of a fiat currency it is always a crypto version of a real asset so it doesn’t have to be a fiat currency there are other stable coins that are backed by other very stable real assets maybe like gold but it is definitely backed by a real world asset and that’s why it’s called stable coin its price is pegged to that real world asset so let’s take us dollar tether which is right here also us dollar coin which is this one and then binance us dollar all three of these are pegged to the us dollar meaning their value is the exact same value of the us dollar they do this through various different mechanisms but you know that if you are holding binance us dollar usdt or usdc right here that that will be worth one us dollar from now going forward so it’s a really important asset for a lot of people if you want to come out of a cryptocurrency you think it’s too risky you can come actually into a very solid real world asset without having to take your money out and you just put that in the stablecoin.
So, now we know that we trade currency pairs we can look at the base versus the quote currency so this is really important to know when you are trading here is how it will look the base currency is the main currency that you’re buying so if you want to go ahead and trade bitcoin you can see down here that bitcoin will be on the left hand side that’s the base currency the quote currency is the currency that you’re selling or using to buy the base currency so the base currency you are using in this case we can see btc it’s definitely bitcoin and the quote currency tells us how much we need to buy one unit of the base currency and i’ll show you the quote right here so we’ve got bitcoin that’s btc so we know that that is the currency that we’re trading we can look at the quote currency which is us dollar tether so that is the quote we then have 50 000.
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