Thank you for joining my masterclass now today we're talking about a step-by-step guide to spot trading bitcoin now that's a step-by-step guide to spot trading bitcoin now the reason why we're talking about this today is because of your feedback you know i did a video and iTalked about how i made some money from the bitcoin crash and then the rally and um a number of you wanted to know how i did it and um i i did try to respond to you guys on social media but then overwhelmingly and then you some of youFound my email address and then you said you know please teach us in the video so i'm going to teach you guys in the video how to spot trade a bitcoin so it's going to be a step-by-step guide on how to spot trade bitcoin now for you to understandThis you got to understand what a spot market is a spot market now it's not sport as in sp or rt we're not playing sport it's just like spot like you know on the spot immediately instantly so you're talking about a spot market now a spot market is just a market that's openTo the general public whereby people can buy and sell and a financial instrument or a commodity or futures you know so it's it's it's a market it's open to the general public so for instance you know if you have a stock exchange it's not open to the general public why you haveTo be a stock broker you've got to go and get a stock broken license you know but a spot market is open to the general public so anybody can go you know into a sport market and then you have to also understand what a spot price is a spotPrice is the price of the product at the exact time that it is being sold so you can't have the same spot price well it's possible it's very rare but you can't have the same spot price um minute by minute so um especially in a volatile financial instrument like umBitcoin or cryptocurrency in general so it changes you know like um every minute every five minutes every 10 minutes so that's why you go with a spot price now a lot of people think that oh it's something that's very very hard it's actually so easy to do it's so easy toDo and i'm going to teach you how to do it now what you have to understand is that when i talked about this on social media um i i saw some comments and they were quite strange and there were people telling me ah forget about it do you knowYou don't know how it works that's not how it works and then it occurred to me that a lot of people in nigeria in ghana and in the west african axis are only familiar with binance the binance exchange and so it becomes like a situation whereby a childSees his father's farm and hasn't gone out of his father's farm and then thinks that his father's from is the largest in the world so there are other exchanges you know for bitcoin not just bitcoin for cryptocurrency there are other exchanges i would even hazard the guestsAnd say that there are better exchanges far better exchanges at least um you know from a point of view of being user friendly than binance so i found that the most user-friendly exchange is coinbase that's the one i use however you know there are other exchanges you know that you can useThere's kraken there's you know i don't want to start promoting them because you know these people are not giving me money and i'm not going to take money from anybody to promote them so without further ado how do you spot trade now first and foremost you have to get onThe coinbase network and it's very very easy it's very easy you can go on coinbase you know on the web browser or you can get their app it's available on every app store so you can get it on ios you can get it on android you can get it onGoogle and then what you do you just click on create account it's so easy you click on create account and it's going to come up on the screen and then when you click on create account you have to verify your account because you know this is a financial instrument to limitFraud they've got to verify your account and then they will send you a text you know and then also they will require photo id so you're going to be prepared for that if you don't verify your account you can't begin trading so they're going to require photo id and then once you'veGot photo id and then your account is verified then you want to connect your account either to your bank account which you can do they allow you do that so it flows both ways money can flow their money can flow out of there or to a debit or credit card you know iConnect mine to my bank account i think it's just easier for me i don't like credits so i connected mine to my bank account but you can choose the option that you want and then right there you are ready to begin buying and selling um bitcoin now the thing isObviously if you don't have any bitcoin to sell you first have to buy something now you go on the dashboard when you go on the dashboard you're going to see there's a buy sell button on the or well some people call it button some peopleCall it tab whatever you want to call it there's a buy sell tab at the top so you can click for buy you can click for sell you know and then it's going to ask you how do you want to fund the purchase if you're buying orHow do you want to receive the profits the proceeds if you're selling so you can choose whatever you want you see on this um on this example i chose bank because i do it with my bank and then you choose what you want to buy you know so theyThey you they have icons for all the cryptocurrency so which is what you want to buy so in this instance we are learning a step-by-step guide on how to spot trade bitcoin so we're going to choose bitcoin so bitcoin has the b and then like you know almost like a dollarBut like with a b sign and then you see like our orange background that's bitcoin so you pick on it and then you you click on that so you can buy you can you can say how much you want to buy and then there is a um there is like a spaceFor how much you want to buy and then it's going to take you from that space it's going to take you to a another page giving you a summary of what you've just um what you've just imputed into the coinbase um system and then you look at it you see if it'sCorrect because don't be in a hurry you know don't be hurry look at it see if it's correct and then you now go to the next page where it's asking you to confirm the buy now if you have enough phones in your bank account or in your wallet ofCourse the buyer is going to go to it's going to go through instantly now before i go in on how you're going to sell um your your bitcoin because this is spot trading so what you've just done now you've you've you've you've uh you've bought you spotUh bought bitcoin you know you have to understand that it's spot so it's the price um at that particular time so for instance now you can see i've got this phone here it's it's blank now so i'm going to open it up give me a second let me put the passwordYou see it's black now so i'm going to ask i'm going to ask a question now give me a second i'm going to ask so you see i'm going to ask um the coinbase app you see there i don't know if you can seeWell maybe let me see if you can see i'm going to ask the app how much is the spot price for bitcoin um i don't know if you can see it but you see so i have that they buy bitcoin so i'm going to ask how much the how much thePrice for bitcoin is so i click on that i'll click on that and i say us dollar i want to see the price in us dollar there you go and then so it's telling me that right now the price is i really hope you guysCan see it let me see it's telling me that the price right now is 37 723 dollars and 58 cents now that is a spot price now i'm going to put it down before i finish this video i'm going to ask it again and you're going to see that the price isGoing to change so why i'm doing that is just to explain to you what the spot price is so there's no daily price you know just like maybe you have a price for maybe you want to change some dollars into your local currency and then you go to aProperty change and then they give you a price and that price is certain for the whole day no it's not like that with cryptocurrency so it's quite volatile now when you've done that so you now have some bitcoin what you need to do before you sell is that you need to understandThe market and to understand the market you need to have an index what's an index an index is data regular daily data about the financial behavior of a financial instrument in this case we're talking about bitcoin so there's an app i've talked about it before it's called chart pattern thatAllows you to impute data so it's going to flash up on the screen get chart button and then begin to improve data begin to impute the price of bitcoin every day so what you can do is you can do it for every um every 15 minutes soJust begin to improve the data for every 15 minutes so that's what i do empty data every 15 minutes it's painstaking but you want to make money don't you so you put the data so maybe you've got a week of data and and when you look at itSomething stands out to you there you see okay bitcoin goes up more than it goes down and then it goes up at this certain times or it goes up and you're just looking for some kind of pattern there now when you spot that pattern when you put that button then you'reReady to sell so you look at the pattern you know and then you see okay now bitcoin has gone higher than the price that you bought it so you go back and then you repeat the process but this time you're going to click on sellAnd then you click on sell and then it's going to ask you you know how much of your digital assets you want to sell so you impute it there it's going to flash up on the screen don't worry and then when you input it there then you're nowGo it's going to take you to a page to ask you to check if everything is okay you look at it and then you click on sell instantly because you have to understand on the coinbase exchange there are you know literally millions of people spending billions of dollars every hour you knowSomething like two 2.3 billion 2.5 billion but you're just going to take this so you're always going to get somebody wanting to buy so you can sell it and then immediately immediately if you live in a state like new york immediately you can get your moneyBecause in new york they support the usd wallet digital wallet but if you live in a state like california where i live in then it's going to take between one to five business days for your money to transfer from uh the from your coinbase um wallet to your um your initialAccount where you can have fiat currency that's fiat currency is just like real currency like dollars pounds and um whatever so normally they'll tell you one to five businesses but it normally comes to my account in a day now here's the thing now i'll explain to you how spot tradingWorks and how you can do it but you have to understand in some areas of the world maybe some people might not have access to coinbase maybe because of some some issues with their government like in a place like nigeria they have issues with their government i know thatBecause a lot of them they they got back to me i think it works in some other african countries but not nigeria so you might want to collaborate with somebody in a country where coinbase works because i am not sure that the binance network is the best networkI'm not sure is the best network and i'm not going to de-market them so i'm going to keep my opinions to myself i'm going to just stick with coinbase that i know and use now um i think it was about uh a week ago you know slightly about a weekAgo i bought some bitcoin and then i bought it at 33 000 i could have bought it at 32 000 but you know i was studying the behavior so i bought it at 33 000 and some fractions and then i sold it at 38 000And so for each uni that i made i made that i bought i made about 5 000 now then somebody um when they watch my video they came out and they were attacking me said no you should have hold you know there's a term they callIt hodl which means hold on for their life the mother is going to get to 42 if you get to 68. you what here's one thing for spot trading you can't be greedy you have to understand the limits of your own boundaries you got to understand the the limit ofYour own competence you got to understand the limit of your own financial intelligence your own emotional intelligence and then when you understand the limit of your own competence you do not cross those boundaries for example i sold bitcoin when after it started to rally and thenThe high price for the ride was about 38 000 and some fractions now it's calmed down uh it's about it's hovering between 36 000 37 000 and it hasn't gotten back to 38 000. so if i had held i would have still be holding now you know i wouldn'tHave made that that kind of five thousand dollars per unit that i made so don't be glad by grade and then don't watch it don't listen to people on social media another thing you want to do is that never ever buy a cryptocurrency because the price isLow no that's not what you want to buy low but don't buy a cryptocurrency because the price is low a lot of all coins their prices are low and then you know there's this temptation to buy them no if you buy stupidity because the ptIs low you are still stupid you want to buy a good coin like bitcoin or ethereum but then you want to buy when the price is low one day is like what's been happening now when there was a dip that's a good time to buy especially when you're doing spot tradingAnd then you want to avoid social media hype because criminals are using social media influencers to try to hype a coin and then when the value goes up you know they've got they've already pre-mined the coin they just offload it and then they make money and then if the coinJust disappears there are right now about 6750 coins a lot of them are going to disappear by the end of the year so you got to be careful you know i was going to show you guys the coin here but you know i'm just thinking if i do that nowMaybe they might sue me to cut so i might not do that so now we're talking about this now so you see if you follow the rules that i've just given or whatever it's not rules the guidance you'll be able to make money from sponsoring bitcoin but here's the thingWhat you want to do is that you want to start trading with money that you can afford to lose don't be greedy don't sell your house don't sell your family silver don't sell your car start with money that you can afford to lose and then also youKnow when i've talked about it a lot of people say there's a rule of thumb that you say not my wallet not my coins yeah the coinbase is a hosted wallet i mean that means that they do everything for you they host it for you however if you'reNot satisfied with that you if you want to be in control of your coin maybe you're afraid that the government can put pressure on coinbase and they can freeze your coin or they can get something it's okay you can get like a hardware uh uh wallet uh like like aLike maybe you can get like a ledger nano and then it's you can actually connect um and then you can actually store your uh cryptocurrency or bitcoin um you can get it from the coinbase uh wallet to your um hardware wallet you know like maybe the ledger nano you canDo that so now my name is reynold walker i have gone um in detail to explain this to you however perhaps maybe i've been too fast or maybe i there was someone be greedy and you have questions what you can do is you put them in the commentSection of this video and my staff they're very very good at curating comments they will bring those comments to me and then i will respond to them and so when you go when you see responses under this video it's from me however you got to remember i do notHave a whatsapp forum i do not have a telegram channel i do not have a gmail email address so scammers have seen that my videos tend to go viral and what they do is that they create fake youtube profiles and they approach people in the comment section and they give themWhatsapp numbers email addresses they give them telegram channels and then they do people do not fall for that thank you for watching You