How To Buy Bitcoin SAFELY | Step By Step Guide #Finance

hey everybody welcome back to whiteboard Finance my name is Marco and I’m here to help you master your money and build your wealth in today’s CashNews.co

I want to teach you how to buy and store Bitcoin safely uh I’m going to teach you what exchange I use to buy it and then also how to store it using this device I just showed on the screen uh so it looks a little bit more intimidating than it is it’s really simple all you have to do is

follow along at the time of this recording Bitcoin is trading at $9,400 uh that’s uh November 13 2024 and the last time I made this CashNews.co about four years ago in 20 in November of uh 2020 Bitcoin was trading at about $144,000 uh so there’s a reason for that it’s a little bit

of geopolitical a little bit of economic um but a lot of stuff is going on uh if you haven’t been in the Bitcoin space don’t just buy Bitcoin um out of fear of missing out because everyone in their mother is buying it uh truly try to study it and understand it I’ll leave some

books in the description and also um I’m going to be using River today uh because that’s the only exchange that I use to buy Bitcoin uh the reason for that is because they’re trustworthy uh you can always uh vet them they always show their uh Bitcoin reserves uh this is not going

to be like an FTX or a mount goau where you know the CEO is some grifter and then the exchange ex implodes uh two years later after Inception right so uh I trust River if you do too uh just sign up with it using my link in the description it just helps me out you get some money I get some money you

can see that my account value right now uh it has about 3 ,000 cash in it and then also has a little bit of Bitcoin sitting on it and I’ll show you exactly how to buy Bitcoin right now so once you’re done signing up for River you have a couple links over here in the top right hand

corner which I’ll zoom into uh so you can basically send Bitcoin as a gift that would be a great Christmas gift uh and then you can also create a Target price order or recurring order so if I were to click on Target price order this just allows you to set a Target price um of the of the

Bitcoin price at which you want to buy at what I recommend and what I’ve personally been doing on B uh on River for years is setting up a recurring buy okay you can also do a one-time buy you can do a Target buy but the recurring buy I like because I’ve been preaching dollar cost

averaging on this channel for years that’s how I personally invest I’ve bought Bitcoin at $3,500 I’ve bought Bitcoin at $93,000 per Bitcoin the reason for that is because I buy Bitcoin every day and I use that um feature with River so if I zoom in and click on recurring by you can

set it hourly you can buy Bitcoin every hour every day every week bi-weekly or monthly the reason I really like the recurring buy feature on river is because they have zero fees so a lot of other exchanges have some pretty hefty fees um just for using their exchange that’s how a lot of

exchange make exchanges make money but with River uh if you set up a dollar cost average after the first week you never have to pay fees again okay so I personally buy Bitcoin 365 times a year using r River and then my other smash buys when there’s dips and when I feel like spending a little

bit more so I would recommend that for the sake of this CashNews.co what we’re going to do is I’m just going to do a one-time buy and then you can put in a certain amount of money let’s buy I don’t know $100 of Bitcoin that’ll give me 0.001 Bitcoin okay you have to

realize Bitcoin is divisible to 100 million spaces one little space uh one out of 100 million is called a SAT or a Satoshi okay a SAT for short uh and then 100 million satoshi’s make up one Bitcoin um so in this case I’m going to be be buying 0.001 Bitcoin so I can hit preview I’m

going to hit buy now it’s going to process there you go you just bought 01 Bitcoin done and then it pops into right here and I just got a notification on my Apple watch uh from River congratulations you just bought Bitcoin sweet couldn’t be any easier right now that’s the easy

part okay that’s the buying part what I want to show you now is the part part where some people get a little bit intimidated or a little bit confused right because they’re used to going to a bank they go to the bank the physical location or the ATM they deposit their money or their uh

check from their W2 salary gets deposited straight into their bank account there you go you’re done right well Bitcoin is a bearer asset okay this is like owning a precious commodity let’s call it like a precious metal like gold or silver for example um unless you own a paper ETF of

gold or silver you want to hold that bullion in a safe or somewhere you know where you know it’s going to be safe whether it’s in a a safety deposit box it’s safe in your home buried in your backyard that’s the same thing with Bitcoin so with Bitcoin we have cold storage so

there’s a phrase in Bitcoin called not your keys not your Bitcoin or not your keys not your cheese okay so if I were to leave this on River okay that Bitcoin is living on river right now it’s not it’s not custodi by me yes I can log in and I can see that hey on River I have 0.0089

Bitcoin right yes that may be true but that’s not my Bitcoin you know what you know heaven forbid something happens to River tomorrow and these Assets get seized you’re done that’s no longer your Bitcoin right that’s not going to be the case I’m just

giving you an extreme example of like an FTX or mount goau for example now what you want to do is you want to use something called a um Hardware wallet or cold storage uh the reason it’s called cold is because it’s taking it offline uh all this device does sorry it’s seeing my

face let me zoom in a little bit hold on okay so this device is called a ledger there’s a bunch of Hardware wallets out there there’s cold car there’s treasure there’s Jade there’s um a bunch of different wallets out there this this is an old Ledger that I have um and

there’s nothing I’m not using the seed phrase from this Ledger okay so if you want to come rob me or whatever there’s nothing on this okay it you would only be met by a couple of Serbian AK-47s so anyway my point is is that the Bitcoin from River we’re going to put on this

and all you have to do is remember your seed phrase and as long as you have this type of wallet doesn’t have to literally be Ledger it can be any wallet that uses this type of encryption all you have to do is remember 12 or 24 words in a specific order that’s your seed phrase and you

can boot any of these up anywhere in the world okay so you can take your entire Net Worth uh put it in your pocket um or just remember the 12 words in order and you can travel the globe with your entire Net Worth in your brain right you don’t have to worry

about sewing you know gold into your jackets or sticking it up your butt you know like during the Holocaust for example just to move wealth around um some people laugh or think that’s crazy but that’s the truth right so that’s the beauty of Bitcoin so now I’m going to show

you how to actually use and how to transfer this from River uh and we’re going to use something called Ledger live okay so I’m logged into Ledger’s native platform it’s called Ledger live you can use this it makes it really easy and you can see here I have this kind of like

on incognito mode um so this is pulling up some stuff from The Ledger it’s basically just showing like my allocation with The Ledger you can actually store uh different types of none;">Cryptocurrency but I basically just used it for Bitcoin and ethereum um the funny thing is I literally sold one and a half ethereum that I’ve been holding for years this morning um I bought it for like 300 bucks I just sold it for like 4,800 or $44,900 it’s kind of funny um

but basically you can see my allocation on this Ledger is 99 59% Bitcoin so anyway um what you want to do is with this is you want to receive money okay so you want to receive Bitcoin so that’s what you’re going to do on ledger so you click receive click Bitcoin and then click continue

what this Ledger is going to ask you to do is it’s going to say hey Marco um I want to make sure that you’re the rightful owner of this Ledger please put in your um basically your pass phrase to unlock the device so I’ve just done that now um and now I’m opening up the

Bitcoin app on The Ledger you’ll see all this as it’s uh prompting you to do this and it say and it’ll say Bitcoin is ready so now this will load and what this does is it’ll create an address here which I’m going to um R out just so you guys can’t see but

I’m going to leave this here and what you do is you just copy it so once you copy the address you verify it and approve it on The Ledger device it’s going to say the address was shared securely and then you just click done okay so now what I’m going to do is I’m going to go

back to River I’m going to click Send CU remember this is the Bitcoin that I bought it just sits on River very simple we did that in two seconds and I’m going to paste this destination okay remember this is the destination that we just created so it’s no different than an address

so once you paste that destination it’ll tell you hey Marco you have $797 30 worth of bitcoin available or you don’t have to do dollars you can change it to sets right so you have 08 so what I’m going to do here is I’m just going to send the whole thing um what you want to

watch out though is you don’t want to create these microtransactions because there’s things called utxos uh these are unspent transactions and these will really add up over time because they’re very very little amounts um so what I’m going to do is I’m just going to

send this whole thing even though this probably is a relatively small amount and I’m going to send it straight to this address so I’m going to hit continue right now so it’s going to ask me uh at what what speed do I want to send it at priority standard or free I’ll just use

free because I don’t really send it outside of uh River it doesn’t by itself here’s the preview send what it’s going to do is it’s going to ask for my authenticator app on my phone so all of you guys can set up an authenticator app um these are my two daughters with

their bicycle helmets in my trailer so let me pull that up and I’m going to put in my authenticator number it’s just another layer of protection and I’m going to hit verify so you put in your authenticator number uh you hit send and there you go the send is initiated at 08 Bitcoin

so what you can do now at this point is is you can wait and you can go back into your Ledger live which I’m going to do right now and then you can click on bitcoin and it’ll show you the latest operations a little longer than a few minutes later okay and there it is you can see that

this is confirmed you can see the account the date the transaction ID who it was from who it was to and then there’s the amount which is all blanked out um sorry I’m not able to zoom in cuz I’m in uh Ledger platform so that’s all there is to it remember the steps in order

sign up for River go to river.com or you can click on my link in the description to help me out for putting this CashNews.co together I would appreciate it uh then what you want to do is buy the Bitcoin three is send it to Cold Storage so that would be on your Hardware wallet whether it’s a

ledger whether it’s a cold card whether it’s a blockstream jade whatever it doesn’t matter just get it off the exchange and then you can do that through Ledger live remember you create the address that you’re receiving it to you go back to River put in that address

it’s no different than sending a letter in the mail and then that male AKA Bitcoin is then delivered and now it sits on your cold storage device and it’s your keys your seed phrase so it’s your cheese thank you so much and have a prosperous day