by birtanpublished on August 17, 2020

What is up crypto gang welcome back to another episode of hacked crypto where we hacked our cryptocurrency education and if you guys are brand new here we do a giveaway at the beginning of every single episode today's winner is Harvey Vaz thanks so much for commenting on the

Previous video Harvey I just sent you some crypto also if you guys are brand new here like this video it really helps the channel subscribe and comment with your wallet address something about the video for a chance to win on this

Special episode I teach step by step how to go through spending your stimulus check currently in the coronavirus days where everyone is quarantined at home lacking of a haircut and waiting for this to somewhat blow over and go back

To a new reality in real life outside of our homes we are getting a $1,200 stimulus check I'll link a couple videos that will describe the actual stimulus of requirements below but there are a couple bills in the future that are

Talking about a $2,000 a month ubi for this entire crisis each month until it recovers so there's a lot of upcoming and cash coming from the government potentially if you guys have not checked anything out about the stimulus you

Should definitely research that below with videos that may be linking to other channels in the description so you guys can check out more about that information if you haven't already received your stimulus check of $1,200

Or you're waiting on it and so on definitely check that out in the link below but what I wanted to go over today was how you can use that money to invest through two separate platforms how to buy Bitcoin using your bank account the

Same bank account and with an A or I dive into this video none of this is going to be sponsored the links to the exchanges will probably be affiliate links haven't decided on that yet but definitely check out both of the

Exchanges that I'm going to be talking about I'm also going to go through the fees associated with each of these exchanges and one of the key components here is our very well known exchanges in the cryptocurrency space and they have

Been around for a very long time so without further adieu I wanted to go through the two exchanges how to do it step by step and then all so the best practices for custody at the brief end here all within a five-minute

Window so you guys get a chance to do this in a record-breaking time he can set it up you can buy Bitcoin within you know a couple minutes and you can get started after you've been verified on these different exchanges first and

Probably most well-known exchange is coinbase Bryan Armstrong the CEO actually came out recently and shared that their volume went up in the exact same amount of the stimulus cheques that were being released at $1,200 so they

Saw a massive spike in Bitcoin orders for $1,200 when that stimulus check hit so that is a signal saying like ok people are buying Bitcoin using this stimulus money where they're turning the US dollars that have been printed into

Oblivion that currently are still being printed into oblivion and they're turning that into a tangible hard asset and sound money like bitcoins so they did that nice little graph on Twitter you guys should definitely check that

Out but coinbase is the first one that I wanted to go over so I'm gonna go through the different thresholds for the transactions on that coin base itself this is actually what I'm gonna be linking in the description is the help

Page on coinbase comm so if the transaction amount is less or equal to $10 the fee is 99 cents if the total transaction amount is more than $10 but less or equal to $25 the fee is a dollar 50 if the total transaction amount is

More than $25 or less than $50 the fee is $1 and 99 cents if the transaction amount is more than $50 or less than or equal to $200 the fee is 299 so they've done this slow progression of more and more fees because a lot of people are

Just buying small incremental amounts of Bitcoin now another key component here with going basis that you can buy regularly you can set a schedule where you're buying weekly you don't have to just throw that whole $1,200 right at

Coinbase so for example if you're in the united states and you wish to purchase a hundred dollars in bitcoin and pay with a US bank account which is what we are going to be doing here with the 1200

Ollar stimulus check we your USD wallet once you sync your bank account it will show your USD wallet and the flat fee will be calculated as $2.99 as noted there is a variable section for fees on this page here in the support

Section on coinbase and the variable percentage fee will be one point four nine percent of the total transaction or dollar and forty nine out of that hunter dollar purchase so since the plat P is greater than a dollar 49 of the total

Transaction your fee would be two dollars and 99 cents so now that you know a couple of the fees associated with coinbase I will be linking in the description where you can go you can sign up create your account verify your

Account and then sync your bank account with coinbase it will create a USD wallet on coinbase you can then put a buy order in for and receive your Bitcoin now what I would suggest is you know this is not

Financial advice but you could sync the account by a stable coin and buy a percentage of Bitcoin so you have money in digital currency on coin base ready for when there's a dip if you are interested in that I always recommend

Just buying and holding doesn't really matter if you buy it three five six ten the next piece in regards to coin base that I want to talk about is custody now coin base is a custodial wallet so they are holding your private keys I've done

Multiple videos on this in the past you guys haven't watched those definitely check that out on the HACC crypto channel I talked about custody very very frequently because one of the key attributes of cryptocurrency is

Sovereignty being able to completely control your wealth and being able to control your private keys which means that you control them fully it's full full ownership no one else is managing them if you are managing it on a

Hardware wallet like a treasure or a ledger now these hardware wallets are relatively cheap I'll be linking to the Amazon links in the description below as well as the ledger affiliate link

Because I've worked with ledger quite a lot before and these are ways that you can pull your cryptocurrency off of coin base or the next exchange I'm going to be talking about you can withdraw that to your hardware wallet where your

Private keys are stored and you can then fully own it think of it as this being like a little brick of gold that you have just purchased on coinbase and you withdrew it onto here and once this has been set

Up you are then holding your little brick of gold this helps a lot with a lot of newcomers to the space because it's tangible you can feel it you can touch it next up we have Gemini if you guys have ever seen the movie the social

Network or have heard of the previous issues with Facebook the Winklevoss twins were the guys who came up with the idea around Facebook and then Mark Zuckerberg of apparently took that idea from the Winklevoss twins and after the

Settlement where they said like hey you know you need to pay us billions of dollars or whatnot Mark Zuckerberg gave them money and after that settlement they bought Bitcoin with a large percentage of that

In like 2014 I believe or 2015 something like that they bought a huge amount of Bitcoin back when it was a couple hundred dollars and I remember reading about it being like wow these guys are taking a huge bet on Bitcoin and I

Wonder what they're gonna be doing in the future and turns out they built a exchange based in New York that is fully regulated licensed these guys have dotted all their i's and cross their t's they know exactly what's going on they

Have been in the space for a very long time they're very trustworthy very similar to coin base in terms of security wise they have a big team they have phenomenal technology the original product was you know just like every

Original product it was a little clunky a little rough to use I've been on there for years now and it is a on-ramp for a synched USD bank account so that is the second exchange that you can go on and purchase with your stimulus check you

Can sync your bank account seamlessly with Gemini you can verify your identity and then you can seamlessly buy either Bitcoin or aetherium just like on coinbase I recommend Bitcoin of just going through doing a quick buy order

And it is a seamless process very easy to do and very secure very similarly to coinbase fees Gemini has relatively conservative fees so between ten dollars and twenty five dollars is a dollar 49 fee between 25

And $50 it is a dollar 99 feet and between 50 to 200 dollars it's a $2.99 fee and above at $200 you're looking at a $1 and 49 percent flat fee so basically you are dealing with very similar fees so I will be linking both

Gemini and coin basis fees in the description below so you guys can go see on the website exactly what I'm talking about and you can see that they have you know mobile application fees as well as their platform fees and both of these

Exchanges keep in mind have multiple products you know Gemini just rolled out nifty which is effectively a way that you can buy and sell nf teas which I love and then you know coinbase has like clean BassPro and various different

Aspects of the platform that you can use so a lot of different products that they're gonna continuously roll out but the fees are ultimately what you need to watch now once again like I said after you've gone through and you have done

Your stimulus check account sync with coinbase as well as Gemini or and/or gemenon this is the ultimate way of controlling the keys after you've purchased it now the exchanges don't want me to tell you that

Because they want to have everything under their custody just like banks want to have everything under their custody but I highly trust Gemini and coinbase to back me and saying that the proper way or proper etiquette of holding your

Keys is on a hardware wallet so once you've purchased your Bitcoin from one of these two exchanges withdraw it and put it on a treasure or a ledger or any other hardware wallet I highly recommend those two because they're the most

Secure out there because once you have your private keys you own that currency fully you own that Bitcoin and I've preached this many times before so I'm not just gonna run down that rabbit hole again but I recommend stimulus check

Sync the bank account to Gemini or coinbase with the link in the description go through and buy $1,200 where the Bitcoin withdraw it to a treasure or ledger wall and that is the seamless way that you can quickly fully

Control your big coin with that $1200 stimulus check now like I said before there could be a $2,000 a month check coming very soon but for now it is very important for you to you know pay your bills make sure

That you are taking care of yourself lowering your monthly budget making sure everything is tight in terms of your expenses if you haven't already go in and cancel needless memberships that you aren't tracking go on and use apps like

Mint or true bill I'll link those in the description below go on and just trim the fat okay in recessions you really need to make sure that things are tight tighten your belt make sure that your expenses aren't just flowing out and you

Don't know what's going on with your money you need to really take this time to learn about financial and wealth management you need to make sure that you are in control of what's going on that is it for this step-by-step process

I know that a lot of you guys have wanted tutorial videos in the past but a lot of people wanted a high level of just how it works so signing up syncing accounts withdrawing after you've purchased and

Made buy orders in your Bitcoin to a hardware wallet is as clean-cut as you can possibly get there are a lot of intricacies involved here but luckily the two exchanges Gemini and coinbase are extremely easy to use and they have

Spent millions on user experience design so it is a very very good interface and that is it for this episode of hack crypto if you guys like it smack a like it really helps the channel and don't forget to subscribe and I will see you

Guys on the next episode a crypto

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