 What's up internet? If you've been thinking about getting into crypto trading, you've probably gone online, done some research, and you've been bombarded with a ton of advice. You need to know this, you need to know that. Take note! This video is not like that. This video is five things you don't need to know before trading cryptocurrencies. And these are major topics that I feel a lot of people obsess over that you don't really need to obsess about. Obligate it? What's complicated? The time that you're obsessing over these could be time spent on trading. And at the very end, I will give you one tip that you really, really, really should know if you're starting to trade crypto. So this is part of our mini trilogy on crypto. Our first video was how to start trading if you're a beginner. Number two video is this one. And the third video will be the Twitter users you should be following to get good advice on what coins you should consider for your portfolio. And of course, this mini trilogy on cryptocurrency would not be possible without our sponsor. Bara min na kaming na tulungan. Dati? Sa din di purta ko? But now, I'm from a love of my life. Dati, ingmresan walang purta sa ng life ko. But now, I'm a world-class Zuba instructor. So, web developer ako and content creator for a YouTube channel. And ngayon, ganun pa rin ako, activated na yung windows ko. Kaya ako naghanap ka ng legit, mura at original software. Check out cdkoffer.com. Check out cdkoffer.com. Check out cdkoffer.com. First thing you don't need to know is why does crypto have value? Why is one Bitcoin worth $40,000? Why is one Ethereum worth $2,000? It's all just digital. You can't hold it. Why do these abstract concepts have actual monetary value? It's a philosophical question which you don't need to answer if you want to start trading. Why do our national currencies, our fee at money, have value? Well, before, they were tied to gold. So, each bill or coin that we have was a promise actually from the central bank that you could exchange it for gold. But that's not the case anymore. Now, we're on a floating market-based value system. And all of these are abstract economic terms which can be applied to all sorts of things. Why does gold have value? Maybe because it scares. Why does my cell phone have value? Because I needed to trade it for money. Again, abstract concepts and you can debate on that. The short answer is they have value because people say so. And that's the answer for everything. Why does gold have value? Why does the camera I'm recording on this have value? The monitor behind me have value? The shirt I'm wearing? Because people have put a price on it and other people have agreed to pay that price. The market rate. All you need to know about crypto is that there are established markets. People are willing to pay 40,000, 50,000 for a bitcoin. Is it nuts that people are willing to pay real money for a digital asset they can't hold? People are willing to spend $10 to watch a movie, to engage na to our fantasy, watching people they will never meet, viewing places they will never actually go to. Again, it's all philosophical. You don't need to worry about it. All you need to know is crypto has market value that market value is not going away. Save the philosophy questions for the philosophers and the economic questions for the economists. If you want to start trading, just start trading. The second thing you don't need to know flows from the first one and that is how his cryptocurrency made. Probably heard a lot about mining, about halving, about a GPU crisis, about how much energy it consumes. And it goes back to the first question. How can cryptocurrency have value if someone can just flip a switch, turn on a computer and mint or produce more? It sounds like a Ponzi scheme. Again, you don't need to worry about it. Actually, different cryptos are generated differently. Some are proof of stake, some are proof of work, some use some other validator. Again, you don't need to worry about it. If you're an advanced trader, you should be and you probably already are looking into halving, the timing of the halving and things like that for the different coins you're in or how many units of a particular coin will be ever made. But those are advanced concepts. If you're a beginner and want to start trading, you don't need to worry. You don't need to be a miner to start trading. Third thing you don't need to worry about when you're starting out is how to transfer cryptocurrency. Cryptocurrency, like any other currency, is transferable and indeed, it would not be a good store of value if it weren't easily transferable. But when I mean easy, it's not as simple as pulling out a physical bill and handing it to the other person. Most crypto use a hash string for a wallet address and these hash strings are incomprehensible to humans. It would be really, really difficult to manually type out a wallet address. So these hash strings are really meant to be hard to reproduce and this goes back to the early days of crypto where privacy was a major consideration at least for the early crypto projects. So the wallet addresses are basically incomprehensible plus depending on the network you're using you have to be very careful in the information and the network that you choose. The Ethereum network has several different variants. If you're sending XRP, there's different information you need to put. This can be scary for beginners and again, if you're a trader, you don't need to worry about it because initially, what you're going to be doing is you're going to put money into your exchange, you're going to buy a cryptocurrency hopefully at a low price, sell it at a high price and then turn around and do that all again. You won't actually be transferring a lot of crypto at least when you're starting out. So wallet addresses, hash strings, which network, gas or the fees used to transfer these are things that you can set aside for another time. Number four, you don't need to be super techie to start trading. Cryptocurrency started out being mined or created by consumer hardware. So at first it was CPUs, just like your computer now, then it was GPUs, then at least for Bitcoin, it became specialized mining hardware. You don't need to be a hardware guy to get into the crypto space. In fact, it will probably be more profitable for you to be a trader rather than a miner. So if you've been hearing about Bitcoin, Ethereum, Bitcoin Cash, Shiba Inu, all of those other coins and want to jump into that space but are scared because you are not super into computers, you don't need to be. You don't need to understand GPU, CPUs. Actually, your computer can be super slow. You can use an old phone if your exchange has an app. You don't need to have a good computer. You don't need to have extensive computer knowledge to trade cryptocurrencies. And lastly, the fifth thing you don't need to know is NFTs. Some people get confused whether a cryptocurrency is the same as an NFT. They do use the same technology and some NFTs actually use the same network as some cryptocurrencies but all of that makes it more complicated than it actually is. Just think of NFTs as a completely separate market. If you're trading in crypto and you want to exclusively trade in crypto, you can. You don't need to worry about NFTs. You don't need to worry about how that will affect your market. You don't need to hold NFTs before you start trading crypto. That's a whole other can of worms altogether. If you're interested in crypto but not in NFTs, that's fine. If you're a trader, you don't need to know anything about NFTs. So I hope these five things to set aside are helpful especially if you're a beginner just getting into trading cryptocurrencies. Some people might argue that of course you should know how your currency is mined when the halving is and other technical things. I agree in general as a concept. As a concept philosophically more knowledge about anything can't hurt but in the short term when you're starting out trying to learn everything all at once can be overwhelming. Better to set aside some things and those are the five things that I mentioned to the back burner for now and concentrate on getting comfortable with trading. Again, this is not financial advice. I'm not telling you to trade. I'm not telling you don't trade. As I mentioned in my first video though I am heavily invested in the crypto space. I think it's a great way to grow your money. My only advice really is whatever money you put into crypto be comfortable in that money going to zero. Let's say you put in $100. Be sure you're comfortable losing the entirety that whole $100 because crypto is a wild ride. Hopefully you can multiply that many times over but if the worst comes to worst and it goes to zero then at least you should still be able to eat send your kids to school pay the bills. The money that you put into crypto should be money that you are willing to gamble with. So that's a second video in our trilogy and the third video coming up in a few weeks will be about who should you follow in the Twitter space to get good tips on the coins that you might be interested in trading in. Thanks for watching. Bonus tip one thing you do need to know about crypto is where to find your Kremil S or for non-Filipinos that's your ant-acid because crypto is a wild, wild ride. You can have wild swings. Thousands of dollars up. Thousands of dollars down. It is a wild ride especially if you're a season trader or you want to get more serious into this space you really need to have a strong stomach. 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