What is the number one tip I have for investing in cryptocurrencies? The number one tip I have is to just bet the market over time Buy different currencies and just hold on to them

The opposite of doing this is trading That involves timing the market I learned this by reading Tony Robbin's <i>Money: Master the Game</i> book I learned this by reading a book called <i>What I Learned Losing a Million Dollars</i> investing in a stock market Most critically, I learned this by the hard way, by trading Bitcoin and losing thousands of dollars, by trying to time the market

As I look at the currency prices today, most things are up at the top Bitcoin's up Ethereum just went from $40 to $80 Ripples went way up Litecoin is way up

Dash is up $20 from before It's tempting to look at these and say, "Yes, if I had sold my Dash masternode when it was a hundred thousand and dumped a bunch of that into Ethereum, now, I could have $200,000" The problem is, you can see what's already happened but you're totally blind The truth is, we, collectively, are totally blind to exactly the details of what's going to happen in the future If you're like me, you are quick to think that you're really good at investing, that you're better than other people, that you are able to play the game more effectively than others

In my experience, I found the only way I can consistently win the game is to just invest a little bit over time I'm grateful today I put $600 or so into BitFenix I currently have $1000 today just a few weeks later I also have a Dash masternode, which is a thousand Dash, I'm very grateful for On Poloniex, I put in about $600 or so the other day, and I just bought the market

I bought a bunch of these different currencies I bought a tenth of a Bitcoin– excuse me, a hundredth of a Bitcoin of a bunch of these different currencies One of them has went down and lost almost everything A couple have dropped 50% but a couple have also went way up This one I bought 001 BTC and now it's worth almost five times what I paid for it I'm grateful now

As Bitcoins went up, I put about 005 Bitcoin on I've now got more Bitcoin than I put on Bitcoin's now worth more than when I put it on as well Same thing on BitFenix

What I teach in my class, I am up to– I buy $10 a day, and just as this went up, I continue to have more value in it The thing is, I've learned the hard way Don't play around trading Why? Number one, it takes too much time You have to obsess over it

You have to be checking the prices all the time to make the right moves The fact is very uncomfortable that you don't know what's going to happen next If you tell the truth and you're like me, you don't know whether the Ethereum price is going to go from $82-$200 or from $82 to $8 Either one is equally possible in my mind We don't know what's going to happen next

That means we're completely blind going forward Most of us are subject to acting stupid as a part of the crowd How does that happen? When everyone gets excited, we want to throw money in When everyone else panics, we want to pull our money out What happens? Most of us think we're smarter than others

We buy high, we sell low What do most of us do if you look at the data? If you look at the data, the first several years, I traded cryptocurrencies, I bought high and sold low I bought high when there was excitement I sold low when there was a panic Even when I was able to buy low, I was so impatient that I would sell when it made a small game

I bought something like 20 Bitcoin when it was worth $170 I couldn't take the stress of it I was so impatient that when it went over $200 again, I sold all of it I felt good at the time, "Look, I made this money selling my Bitcoin," and yet, if I'd held on to 20 Bitcoin today, you can do the math on that That would be $28,000 I'd have today

That only cost me a few thousand to go by I'm grateful I've learned to do that I'm holding my Dash masternode, even when the idea of selling my masternode and getting $93,000 is very tempting, especially as all I have in cash right now about $8,000 or $10,000 It's really attractive to dump that masternode and take $93,000 out of it But that's not what I set up to do

I made a plan and I stick with it I buy and I hold Because if you try and trade, it takes a ton of time and energy Lots of times, you miss out on the best action If you're like me, you want to be in on the best action

The only guaranteed way to be on the best action is to consistently buy a little bit every single month Then, "Look, I'm in on all the action right now" As the price of Bitcoins went up, as the price of Ethereum went up, I've made money on all of it The nice thing is, when you do a buy and hold strategy, you don't have to– when everyone else sells, for example, the Dash price plummets to $8 or something like that, I don't need to sell I can afford to let the price plummet and then go back up

In fact, the nice thing is, when you consistently buy and hold, I'm putting money every month into these cryptocurrencies I'm essentially just buying the market When I do that, if there's a huge down spike, I essentially get a really good deal then because I just consistently buy every month and hold it If there is a plummet, that's when I get a really good deal When everyone else wants to sell and no one wants– if say Ethereum goes back down to $7, I'm going to continue buying it anyway

Then if it goes up back up a bunch, I've got a good chance to earn The best part of this is, I don't have to check how much it's worth I don't have to care what the numbers are The numbers are almost irrelevant because I'm buying and holding I'm buying and holding

So what if the price goes up today? I'm not selling Now for Dash, because I've got the masternode, the higher the price is, the more I am able to buy of the other online currencies Because I get mass, I get dividends paid in Dash from the masternode If you're not getting dividends paid from something, it's especially tempting to just trade It's tempting to buy something and sell something and say, "Look, I bet Ethereum's going to go up to buy a bunch of that, and then if it goes up to sell it

" But what if you buy it and it goes up way more than where you sold it? What if you buy it and it goes down? There's all this anxiety and fear and uncertainty Then you have to obsess over it I just put my money in every month because I believe, over the long term, these online currencies are amazing I believe in the long term In 10, 20, 30 years, I think the majority of the world will work and deal in online currencies

At some point, governments may start to actively fight it But I think these online currencies will overcome governments fighting about them as well as more of us continue to put our money in Therefore, I buy some today and I hold I buy more each month and I hold To make money for this, I've pulled my retirement out of everything else

I've cashed out all my other retirement, taking the money so that I could put it in these online currencies every month This way, if the price goes up, I make money But when I buy more, I don't get to buy as much If the price goes down, I get to buy more Then when the price goes up, I make more money

Then, I have peace of mind I'm setting up a retirement account I'm not trying to just trade and make money See, when you trade to try and make money, you might win, but that might be the worst thing that can happen to you If you're like me, anytime that I've traded and made money, I got this big head

Then I got wiped out when things went down At first, with some of these currencies, I've traded and made a little bit of money and I got destroyed when they went down On one day on Poloniex, I'd traded and made three Bitcoin in a few months just playing around I lost all of my earnings in one day on Poloniex Guess what I did? Not long after that, I sold

If I'd held those by now, I'd have something like 10 or 15 Bitcoin Instead, I put all of it in the Dash and then self-promoted Dash, and then the Dash price went up a whole bunch That's worked out good At the same time, I'm now very vulnerable If the Dash price goes down, I could easily lose the majority of all my online currencies

What I'm doing is consistently investing in each of the others I'm not putting any more money in the Dash because I've got a masternode I'm consistently putting my money into most of these into the top 10 on BitFenix, whatever they have on BitFenix Over time, I'm consistently putting my money into the top 50 on Poloniex I'm grateful today

It doesn't matter what the price is, I'm buying every month and that's simple for me I hope this quick tip video has been useful for you If you found this video helpful, thank you very much for watching the whole thing Would you please leave a like on this video so that other people like you will be able to experience the same thing? If we reach 1,000 likes on this video, I will do another livestream showing exactly how I make all these transactions which I hope will be helpful whether you're a beginner or whether you want to just see the exact system I use to do this every month If you've enjoyed this, would you please continue learning with me? I've got a bunch of courses online you might enjoy

jerrybanfieldcom/freecourses I'll go to that now, jerrybanfieldcom/freecourses I've got a class that goes into all the details on how to do this in much more depth on Skillshare

There's also a two-hour free version that has many of the same things on YouTube It's called cryptocurrency investment and retirement planning, where I show the details of how I do all of this The Skillshare class has more depth and it doesn't have any ads It's also more polished and organized Thank you very much

I hope you have a wonderful day today and I hope this is useful for you I hope to see you on Skillshare learning with me, too