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Learn How to

Buy, Trade and Sell


Cryptocurrency in
10 Minutes or Less
Cryptocurrencies can be very daunting. There are more than 1,300
cryptocurrencies at the time of this writing. It can be very scary to
decide which cryptocurrency to choose? Do I go into Bitcoin? Do I
go into Ethereum? Do I go into Ripple? Do I go into Litecoin? The
point of this report is to make it super easy for you to get your feet
wet - to jump in and get started. We focus on the exchanges and the
marketplaces of where and how to buy.

We suggest you start by opening an account at Coinbase - you can even


use the Coinbase app using your iOS or Android smartphone. The
website is: coinbase.com - don’t be worried, it’s super simple.

Now, it is important to know that there are lots of coins to choose from,
it is not just about Bitcoin. It is also important to know that you don’t
have to buy a whole Bitcoin (or a whole coin of any cryptocurrency).
This brings up the concept of fractional currency, or partial coins. In
a similar way we have fractional dollars, like a dime being 1/10th of a
dollar, cryptocurrency operates in fractional coins. The key issue isn’t
how many whole coins you have, but how much have you spent and
how much it is worth at any given time.

Let’s move to the important question of deciding on how much of your


money you want to invest in cryptocurrency. The key consideration is
how comfortable are you with risk - including, how would you feel if
you lost all of it tomorrow? If you are fairly comfortable losing $500
tomorrow, then that is your number. If $1,000 is too much, then $1,000
is not your number. So before you get started, make sure you know
your number.

With that being said, if you decide that you are going to put in $1,000
and you decided you were to put it all in Bitcoin, and if the current
price of Bitcoin were $10,000, then you are going to be getting 1/10th
of a Bitcoin to start. We often default to talking about Bitcoin, because

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
it is the most famous one. However, there are roughly
1,300 other coins out there. In terms of market size at
the time of this writing the ranking is as follows:

1. Bitcoin
2. Ripple
3. Ethereum
4. Bitcoin Cash If you put in your bank account, your maximum
is $5,000 to start - though take note, when you put
So, the easiest thing to do is just go to Coinbase and money into Coinbase from your bank account it will
open up an account there. You will need to give them take a week for it to show up and be ready for trading.
some very sensitive information, so prepared to do
that - things like your name, your address and your Let’s go ahead and buy some cryptocurrency. For the
social security number … and if you want to actually purposes of this example, let’s use $1,000. To start,
trade in volume (up to $5,000 within the first week) we recommend you put 50% in Bitcoin and hold
you actually have to attach your account to your it for the long term. And with your other 50% buy
bank account. You are essentially setting up an online a mixture of cryptocurrencies - in Coinbase that
investment account, much like what you would do if would be one of Bitcoin, Ethereum, Litecoin and
you set up an online account with TD Ameritrade, Bitcoin Cash. The idea being you are taking 50% of
Fidelity, Charles Schwab or E*Trade. your investment and you are planning to hold it for
the long term, anticipating that the long term future
Coinbase has been around for a while and they are of Bitcoin is positive. Bitcoin Cash is a fork off of
a pretty reputable company. We have put our bank the Bitcoin blockchain (a technical term that you
account information in there, so we feel comfortable really don’t need to understand, though if you really
with it. want to learn more, do a web search using the word
“blockchain”). Bitcoin Cash is faster and has lower
transaction fees - yes, there are transaction fees when
trading.
To summarize so far:
If you were going to be putting in lots of money, and
Open up a Coinbase account you plan to hold it for the long term, a lot of people
put it into Bitcoin.
Put in your information
Ethereum uses its own blockchain, which also bills
itself as faster than Bitcoin and with lower transaction
Link it to your bank account fees. There is also Litecoin, which bills itself as faster
or alternatively put in your and also with lower transaction fees. Think of Bitcoin
debit or credit card (though if as a type of digital gold. If you are interested in day
you only do a debit or credit trading (making multiple trades per day), a lot of
card you will be limited to a people put it into Ethereum (one factor being it is has
$750 spending maximum). lower transaction fees).

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
So, let’s say we have created our Coinbase account
and we have our $1,000 in it and we have decided to
buy $500 worth of Bitcoin and because we want to do
some day trading, we buy $500 worth of Ethereum.
At the time of this writing the price of one Bitcoin
was well above $500 as was the price of one Ethereum
- so we will get a fraction of a Bitcoin and a fractional
Ethereum.

Coinbase handles and records your transactions,


as well as taking care of your private keys. In the
cryptocurrency world, private keys are used to
provide a level of security, as well as your access So, let’s say you want to day trade, because a lot of
method, to allow you to trade your coins. There is people think, I want to 5x, or 10x or even 20x my
a concept of something called a cold storage wallet, returns because they are hearing all of these crazy
which provides an even greater level of security, stories. Just remember, cryptocurrency is relatively
allowing you to move your cryptocurrency outside new, so expect very significant swings in valuation.
of the online trading world and ‘stash’ it. Kind of like Which means it can go up in a hurry, but it can also
putting it in a lock box. drop precipitously. So be careful.

An important thing to know about cryptocurrency is The point is, consider your expectations - they can
it is all digital - i.e., there is no concept of a physical get the best of you and end up hurting your objective
coin. In fact, there really isn’t even the concept of ability to make trades. Bitcoin’s current price (at the
anything ‘paper’ - not even a ‘paper’ certificate of time of this writing) was around $11,000. If you were
authenticity. And you can’t get something sent to you to buy at this price, it would need to go to $110,000
in the mail either. If you buy it on a marketplace they to 10x your money. It is certainly possible, and some
basically have an IOU for you until you take it out. people have even predicted it could go a lot higher
than that, but it may not go there as quickly as some
hope and remember there are other cryptocurrencies
to be watching for - and ones that are trading at very
low values. If one of those takes off, valuations could
go up much more quickly than Bitcoin. Though it
is also true to say that these coins would tend to be
considered much riskier. You can think of it as kind
of like the difference between buying penny stocks vs
buying blue chip stocks.

When considering various cryptocurrencies, the


important thing is not the price of the individual
coin, but the market cap. The market cap is the
total value of all of that cryptocurrency currently in
circulation. The higher the market cap, the less likely
it will fluctuate - up or down.

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
As an example, there are just short of 17 million Bitcoins out there, and
at $11,500 per Bitcoin that is a market cap of roughly $195 Billion. As a
point of comparison, the price of Ethereum at the time of this writing
was about $1,030 and there are some 97 million coins in circulation.
That is a market cap of around $100 Billion.

So, back to our trading example , we are in Coinbase and we have


Bitcoin and Ethereum. We may want to diversify a bit and sell some of
our Ethereum and buy some Litecoin and Bitcoin Cash - I always think VERY IMPORTANT:
that’s a good idea, and you can certainly do that.
The use of these security keys
But let’s say you want a cryptocurrency that is not listed on Coinbase - is at the core of the transaction
then you will need to use another exchange. The one we actually like to in the cryptocurrency world.
use is called Binance. It doesn’t have all of the 1,300 Bitcoins on there, Getting these keys perfectly
but it has a lot of them. So, we open up an account at binance.com. right is crucial. Which is why
Binance is a cryptocurrency exchange. You don’t have to put as much of we always recommend double
your sensitive information on Binance - for example, you do not need and triple checking the string
to hook up your bank account to it. of characters in a transaction.
There is no customer service
Given that we have a Coinbase account with cryptocurrency in it, we person you can call to recover
can actually send some of it to our Binance account. So, let’s say that from mistakes. If you enter
within Coinbase we want to move our Ethereum to Binance. Think an incorrect key at the time
of this like a bank transfer, but in this case, you are going to use a of your send, it will send
crypto security key that you get to acknowledge the transaction. You it into the ‘ether’ and your
will go into your Binance account, in the section called “Deposits & cryptocurrency is gone - what
Withdrawals” and you will record a deposit, which will give you a are called ‘dead tokens’ in the
unique key (a string of characters) that you will use to authorize your industry. Always make sure
Coinbase account to perform the transaction. I.e., with that unique that the security string that you
key that Binance provides, you are going to copy/paste that string of get when doing transactions
characters into the sending side of your Coinbase account. And finally, perfectly matches on both sides
you will need to go into the “Deposits & Withdrawals” section in of the transaction (send and
Binance to record this. receive).

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
Once your transaction has been entered, it usually takes anywhere from 5-10 minutes to complete - though
I have seen it take up to 3 or 4 hours depending on market transactions - so give it some time. Once it shows
up, you can actually track this in the deposit/withdrawals history section and you will see it getting confirmed
over the blockchain and then you can see you have Ethereum in your Binance account.

Let’s just say that you want to get something that isn’t on Coinbase, for example, Ripple. In this case you can
use your Binance account, because Ripple is listed there as XRP. And because you have Ethereum in your
Binance account, you are going to trade Ethereum (ETH) for Ripple (XRP). Here is what you are going to do.

• Log in to your Binance account. • The first box labeled “Price” displays
your conversation rate - how much ETH
• Go to the Exchange->Basic screen in your
cryptocurrency you pay to buy each XRP token
Binance account.
(they are called tokens in the case of Ripple).
• Now search for the XRP/ETH pair. You do this
• The second box labeled “Amount” is where you
by first clicking on the ETH tab in the top right
enter the number of Ripple tokens you want to
corner of the screen (you will also see “BTC”,
buy.
“BNB” and “USDT” tabs there) and then enter
XRP in the box just below that. You will see an • Alternatively, you can use the percentage buttons
XRP/ETH price pairing just below that in the (25% / 50% / 75% / 100%), which will use that
list. percentage of your Ethereum in your account to
buy Ripple. When you use the percentage buttons
• Under that XRP/ETH charge you will find the
it automatically will enter the number of Ripple
Buy XRP section.
tokens you will be buying.
• Within this box you will see tabs, “Limit”,
• There is a very small transaction fee that Binance
“Market” and “Stop-Limit”. The meaning of
charges for your transaction, which also shows
these three is the same as in the stock market
on the screen.
world. I.e., “Limit” means to buy at a given
price. You get to set that price. Though it does • If you want to complete the transaction based on
mean the transaction may never go through. what you see, then click on the Buy XRP button.
“Market” means buy at the current market
price. “Stop-Limit” means that you set the price
and once the price hits that number then the
order becomes a “Limit” order, i.e., to buy at
the limit price or better.

Buy XRP

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
You can then see if the transaction is marked as Success or Fail. If it says Fail, it means that it didn’t go through
and you will need to try again. If success, it went through, however, it may not show up in your trades right
away. Once it does, you will see it in your Orders History. You can also go to your Deposits & Withdrawals
section and you will actually see if there are any that are currently being filled and processed. Once it goes
through, you now have your Ripple.

We have now learned how to buy and trade crypto.What if we want to get our money out?

Say you have waited a week and you are showing as up $200 in your Binance account, having made the money
from your Ripple. In order to get your money out, you basically reverse what you did to get your money in, i.e.,
you will need to convert Ripple to a currency that your Coinbase account accepts. We recommend choosing
Ethereum, because Bitcoin has higher transaction fees. Here are the steps:

• Log in to your Binance account. • If the order went through very quickly, it won’t be
in the Open Orders screen, but if it hasn’t gone
• Search the list of cryptocurrency to find your
through it will be available to view in the Open
Ripple, i.e., scroll down looking for XRP, and
Orders screen.
click on it.
• Once it has completed, it will show up in the
• You will see a tab with ETH Markets on it. Click
Deposits & Withdrawals screen. You now have a
on that tab, find the XRP/ETH row and click on
balance in your Ethereum Binance wallet and are
that.
ready to move it into your Coinbase account so
• Click on the “Sell XRP” button. Don’t worry, it you can get the cash out from there.
doesn’t sell it quite yet; after clicking this button
• Still in your Binance account, click on the
you still have a chance to change your mind.
Withdrawal button.
• If you want to sell all of your Ripple (converting
• You will need to enter which coin you are using
it to Ethereum), you would click the 100% “Max
to withdraw, in this case it is ETH (Ethereum),
amount”. You can choose to sell a fixed number
since that is the cryptocurrency you exchanged
(by changing the number in the field next to
for your Ripple. So select ETH from this list.
XRP - just make sure that the number is no
larger than what the system defaults you to -
since the default is the max amount you can sell). Note:
Alternatively, you could click the quick options of
25%, 50% or 75%. If you have more Ethereum in this wallet than
• Next click the Sell button at the bottom to the amount you exchanged for your Ripple, and
complete the sell transaction. you only want to convert the Ripple converted
amount, you will need to only withdraw that
• To view your order, click on the Open Orders amount of Ethereum out of this account.
tab.

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
• Before clicking on the Withdrawal button you • Now click on the Withdrawal button.
will need to enter an address and the amount
• Go back over to your Coinbase account. Once
from your Available Maximum amount. This
the transaction completes, you will see that the
address you will get from your Coinbase
Ethereum that was in your Binance account is
account, the one that is going to be receiving this
now in your Coinbase account. Note: there is
withdrawal.
typically a delay to get your Ethereum over to
• Login to your Coinbase account, select Accounts your Coinbase Bitcoin wallet, so be patient.
and then click on your Ethereum wallet.
• Now to get your money out of Coinbase into
• Now click on the Receive button on that screen. your linked bank account, within Coinbase,
select the Buy/Sell menu option.
• Click on the Show Address button to get the
“Address” - which is the security key for this • Click on the Sell button.
transaction.
• Select the Ethereum wallet in the “Sell From”
• Copy this address exactly as is (remember that drop-down field and your bank account from the
really, really important point about getting these “Deposit To” drop-down.
addresses exactly correct in every transaction!)
• If you want to cash out all of your Ethereum,
and paste it into the Address field of your
click on the Max amount. Otherwise, choose the
Binance Withdrawal screen.
amount you want to withdraw into your bank
• Decide how much of your Ethereum you are account.
moving - we want to move it all so click on the
• You are ready for the final step, which is to click
Max link - which will show you a Transaction
the “Sell Ethereum” button. If you get a prompt
Fee and then the amount of Ethereum being
to confirm, click on that. You should have your
moved for this transaction. Make a note of this
money in your bank account in approximately
amount of Ethereum. Note: there is always a
two business days.
modest transaction fee for these transactions,
very much like there are trading fees when doing
online trading.

Sell Ethereum

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
Personal Note:
When doing transactions, I
actually like to send a little
bit, I pay a little bit more in
transaction fees but I like to
send a fraction of it to make
sure it goes over and once it
confirms I’ll send the rest. I’m
happy paying that transaction
fee just for the peace of mind of
seeing the first time go through
so I am more confident that the
the second one will go through.

Legal Note:
You are responsible for taxes
on this. If you bought a
cryptocurrency for one price
and you sold it at another
price, at a higher price, you are To recap, we learned how to set up a Coinbase account, a Binance
responsible for that profit. account, how to get money into our Coinbase account, how to
buy cryptocurrency in our Coinbase account, how to move a
cryptocurrency from our Coinbase account into our Binance account,
how to convert a cryptocurrency inside Binance into another one of the
many coins that Binance supports, and then how to move back into a
cryptocurrency in Binance that Coinbase supports so we can move our
currency out of Binance into Coinbase so that we can finally get our
money back into our bank account.

There are definitely limits on how much you can move around / trade
on these exchanges, but first things first, get comfortable using these
exchanges, and trading cryptocurrency and then later you may choose
to move to other platforms.

I hope this report has helped you dive into cryptocurrency. If you have
any questions here at Real Daily, please e-mail us at info@realdaily.
com and check back for our latest news and tips in the finance and
cryptocurrency space.

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The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro
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9
The Crypto Blueprint: How to Buy, Sell, and Trade Like A Pro

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