You're just thinking, oh, maybe I want to get into crypto, but I'm unsure. I'm going to make

it super, super simple. You could end up losing a lot of money. You

never know what happens in the markets. You can't buy it today and

then hope that tomorrow it's going up to then sell the asset. The

prediction right now for Bitcoin is that it will reach about

$2 million per coin if I don't put in

next week's mortgage payment into crypto, hoping

you're going to make a quick buck. it won't work out. If you're thinking about buying cryptocurrency,

do not use it. I'm Matthew Fraser and

this is Amazon Ecom Secrets. I'll be

sharing with you the secrets that helped me go from millions in debt

to an eight-figure entrepreneur. If you're ready to escape the

nine-to-five and live life on your terms, let me show

you the way. Hey guys, welcome to Amazon Ecom Secrets.

I'm Matthew Fraser. And in today's episode, I'm not actually talking

about Amazon. What I am talking about is crypto and

the do's and absolutely the don'ts, especially for

people who are beginners into the crypto space. And

you're gonna say to me, well, Matthew, what does crypto have

to do with Amazon? What I can tell you is that I've made multi

millions of dollars out of Amazon and e-commerce. And

now what I do is I move those profits into Bitcoin

and other cryptocurrencies. So I do have a bit of an opinion on

certain things within the crypto space. And I'm going to share them with you

as if you are my brother or sister or

my parents. I'm going to tell you from my heart. the experiences that

I've had, and definitely some of the things I've seen

of people losing money and how you can not lose money.

So let's start from the top. I have been buying Bitcoin

since 2022. I would say I was very late to

Bitcoin. In fact, I was so against Bitcoin and

crypto for so many years. And I remember sitting

with someone one day and just looking at them and saying, what are you doing this? Like, I'm going

to go buy Bitcoin. I was like, nah, man, I would never buy

Bitcoin. That's this like airy-fairy stuff. And

it was simply through my own ignorance that

I just didn't do the research. Now, Michael Saylor,

who's very, very big into the Bitcoin space, go and research Michael

Saylor, S-A-Y-L-O-R, super, super bullish on

Bitcoin, holds a staggering amount. I think to date actually holds

the most amount of Bitcoin out of anyone in the world. Maybe

that we know about anyway, and he has a lot of

good information and he himself Actually

wasn't even into Bitcoin up until I think was about 2019 or

2020 and then he started buying Bitcoin super smart guy before

that he was like me completely against it didn't

know about it just and and just didn't want to didn't want to know about it

and And then one day, I guess I was making all this money from

Amazon and e-commerce and I

thought, people are still talking about this Bitcoin and cryptocurrency

and some friends of mine were sort of talking about it. I thought, I

think I better actually find out about it because I might be missing

out on something. And so, I started calling

up friends, hey, what do you know about Bitcoin? And

my very first friend I called, he had been in

crypto for a number of years and had all of this, his

life savings, which was about $40,000. I've shared this story before. About

$40,000 tied up in crypto. And he was doing what's called

staking, which is essentially he's giving his crypto to

another company to hold it. And then he gets a return

on that, generally in like a percentage per annum. It could range

from anywhere of like 5% to like sometimes crazy numbers

like 78% return per annum. Very,

very risky stuff. Anyway, I'll come back to him later, but he was sharing

some insights into it. And it was at that point I

thought, you know what, I've really succeeded a lot in my life by

seeking advice by professionals and getting proper mentoring

and coaching in particular spaces. Just like in Amazon, in

the very beginning I spent, you know, $30,000 plus on

getting mentored and training in the Amazon e-commerce

space, which ultimately has now led to over $45 million in

sales and has certainly set me up for life, completely changed my life.

So I thought, that's it, I'm going to go find a crypto

expert. And I did, and I spent $20,000 for one year's

worth of training. So when I come to you with my

personal advice, I'm also coming to you with the advice that I've already received

from someone where I've already paid $20,000 for the year to get that advice. So

the first thing, and I'm pretending you guys know completely nothing,

you're brand new, you're just thinking, oh, maybe I want to get into crypto, but

I'm unsure. The very first thing, I'm going to make it super, super simple,

right? Don't overcomplicate this. So

the first thing is, you're thinking about buying cryptocurrency, the

number one crypto to buy, which

is actually Bitcoin. Now, Bitcoin actually stands alone because you hear about Bitcoin

and altcoins, which is alternative coins, okay? And

so the thing is, if you're going to buy anything, just keep

it simple and buy Bitcoin because Bitcoin, there's only

21 million Bitcoin supply in the world. There will

never be any more Bitcoin. In fact, The numbers

are these days that there's probably 5 million Bitcoin

that are actually lost. Just lost in the system, sitting on people's

computers that they forgot about from 2015, destroyed,

probably sitting in the rubbish tip. Or they've lost the passwords

to get into those computers to get the codes, to get

the Bitcoin. So 5 million is already gone. So,

you know, we're down to something like 17, 18, 17, 16, 17 million,

who knows now, right? It could even be 6 million lost. So

that could be down to 15 million left. But the point

is, there's a finite supply, okay? And

right now, everybody wants Bitcoin, so the price is getting

pushed up. You may have even seen recently that it

was back in January I believe of this year

that the ETF was approved in the United States now What is an ETF

an ETF is an exchange traded fund? It's

a little bit like I liken it to a property fund You

know, you've got companies in Australia in the around the world They'll

buy up a string of properties and then you can buy into

the fund You can buy share in the fund through the stock exchange.

This is very similar to that It's like the company's got all the all

the Bitcoin and you can buy share Into the Bitcoin now

the reason why this is so important the ETF The

United States was it was a cent. It was approved by the SEC, which

is the Securities and Exchange Commission in the United States

Which basically was the government giving Bitcoin the

green stamp of approval, right? It's legitimized Bitcoin

because all up until that time it was a lot of people were

seeing it as like a rogue Asset, you know, do we really

want to put our money in this is the government gonna steal it? They're gonna ban it

And so the government in America has now put the green stamp of approval on.

Guess what happened after that? Very shortly after that, Australian

government put their stamp of approval on it too. So Australia, as

of I think it was last week, actually now has their very

own ETF. And since then, and around this sort of

all this year, the UK, parts of Asia, have

all now come up with their own version of ETF, which means that most

countries now around the world, or most sort of First

world countries, for sure, now have legitimized Bitcoin.

I mean, even El Salvador, for example, actually holds

Bitcoin in their government treasury, right? So

this is how legitimized it is now. So no, no longer is

it sort of like frowned upon. It's now it's a fully fledged, legitimate

asset. So that's why I say, if you're going to buy anything

to start off with, you should absolutely get Bitcoin. Now,

the other thing is, you should also understand market

cycles. When is the market going up and down? Now, just like

the stock exchange, it goes up and down

in the short term. Over long terms, you would say it probably goes up.

If you look back in history, it has gone up over time. And

the same thing is with Bitcoin, because Bitcoin is fluctuating based on

what's happening in the world, right? How are humans operating?

What are they doing? Is there wars going on? Is there the economic cycles?

So understanding where we are in the cycle is really important. Now,

if you listen to this today, we're now in June of

2024. We are currently in a bull cycle and I

think we're at least one third of the way through of

the bull cycle. Bull cycle means that the asset

is going up, the trajectory is up as opposed to a

bear cycle where the assets either at the bottom or

going down. And so that's a

good time to buy is actually in the bull cycle, but then where in

the bull cycle, because the bull cycle, let's say we range it to

like a hundred, right? Zero to a hundred. If you're gonna buy at level

90, right? Then it's only another 10 levels to go off the full

top to the bull cycle. You may not wanna buy right up the top there.

I think we're down at around the 30 to 40 levels, which

means it's got another 60 to 70 levels to

go before it peaks and then comes back down again. So

now could be a good time. But that said, you

never know what happens in the market. So you have to

play it with more of a time factor, meaning

you can't buy it today and then hope that tomorrow

it's going up to then sell the asset. You want to buy it

today. And I would say you want to buy in

these cycles for at least a four-year period, unless

you're watching it daily and you're on top of it. You want to almost like

set and forget. The prediction right now for Bitcoin is

that it will reach 1.2, well, let me talk in

Aussie dollars, about 2 million Aussie dollars per

coin by 2030. I mean, that

is astonishing. Could you imagine? Now, you're going to say, what is it trading at

today? Right now, it's trading at about 106,000 Australian dollars per coin. Now,

when you're buying Bitcoin, you don't have to buy an entire coin

because you're probably sitting there thinking, oh, how am I

going to afford $106,000 to buy one Bitcoin? Just

like shares, you can buy fractions of a coin. Okay,

so you could just simply buy on the stock exchange market or

the crypto exchange market, like $10 worth of Bitcoin. You

could actually do that. And in fact, one of the things that I do

like and a lot of people do is they do what's called DCA. Yeah,

which is dollar cost average, which means that let's say

every week out of your pay, you might just put $100 into

Bitcoin. You can actually even set these up automatically through crypto

exchanges. So every week just $100 comes out

and you just forget about it. It just accumulates over the

years and then eventually one day you wake up and look at it and

hopefully there's enough to retire on. The other thing you should

consider is having your entry and

exit plan. Okay, which really comes back to what I said before about

a timeline. You know, for example, this is

what I said to my sister the other day, who's thinking about putting some money into Bitcoin. She's

got about $20,000 to put in. Now, I expect

that in this current cycle, it will, from here, at

least double. It'll probably triple in price, but let's say it

just doubles. She put $20,000 in and I

said, well, when it gets to maybe $30,000, maybe

you should think about starting to exit out some of your initial 20, okay,

if you need that money back. Or the other plan is

you could just sit in there, leave it for the next four,

five, six, 10 years even. Maybe you could consider it like

some sort of a superannuation plan, like at retirement, I'm

gonna worry about it. And then you wouldn't have to worry so much about The

entry and exit points. Yeah, you just dollar cost average in

over a long period of time But just like when I was talking to my sister about having this

entry and exit plan I said, okay, let's think of it this way. You've got

$20,000 you're gonna buy Bitcoin today and

let's just say We would hope that it triples.

So you're talking $60,000 Now,

the trick is though, is selling it at

the right time. Because you might get to $60,000 and

then after the 60, it might start coming back down again. But then, now

when do you sell? It's gone from 60 to 50, maybe it

goes down to 40. At some point, you've got

to sell that Bitcoin if you want to get your money back out of that period during

the cycle. However, what if it then, if

you're thinking it's gonna go back up again, but it doesn't go back up. So

this is the mind games that happen. And so that's why you

have to have a plan of, hey, when it gets to $30,000, I'm gonna

take out 10 of my initial 20, and then maybe if

it gets to 40, you take out another 10. So now you've got your initial

investment back in your pocket, and you've got $20,000 still

in the market, and it can go up or down

depending on, but at least it's the house's money now. right,

your money's been kept in your own pocket, if that's how

you feel, if you're super worried about losing that initial

$20,000. If you wanted to, you could just keep the money in the market altogether and just let it ride for

the next decade. And let's just see how things go that way. Storage

of your Bitcoin. Now, one of the things that is a bit scary for people

is that your Bitcoin can literally sit on

your iPhone or your laptop because Bitcoin

is digital, right? But there are a number of ways to store your

Bitcoin. One can be just through the crypto exchange

where they actually hold the Bitcoin for you. The

second way is called cold or

hot storage. Now, cold storage is where you actually remove the

Bitcoin off the internet, so to speak. Now,

it actually looks like you can get a cold storage wallet, right?

Which looks kind of similar to this, almost like a USB stick, really. You

plug it into your computer and you transfer the Bitcoin from

your crypto exchange onto your cold wallet and then you can store

your cold wallet in a very very safe and secure spot. The

other way is called a hot wallet which is a wallet that is generally located

on your phone and you can take the money or the

Bitcoin from your crypto exchange and transfer it into your

hot wallet and therefore removing it from the crypto exchange. Now

why would you want to do that? In history, sometimes

crypto exchanges have done not so good things. They

get hacked, they don't run their business properly,

and they collapse. And away goes your Bitcoin with

them. So by taking, it's called self-custody, by taking

it into your own self-custody, you now take responsibility for

your own Bitcoin and not leaving it to the responsibility of

someone else. So let's talk a little bit further about cold

storage and hot storage and keeping your Bitcoin in

a crypto exchange I actually believe you need to diversify where

you hold your Bitcoin, okay? So I

personally have Bitcoin in a cold storage wallet

And I also have Bitcoin in two separate crypto

exchanges. Now, I choose to use crypto exchanges that are

based out of and regulated by the Australian government,

right? So they're regulated by the financial institutions in Australia, which

gives it way more protection. And by diversifying

across the different exchanges and also the cold wallet, if

something was to happen, let's just say I forget my

passwords to get into my cold storage wallet. Well,

I haven't put everything in there and lose everything. Let's just

say one of the crypto exchanges just goes bankrupt and

takes all the Bitcoin. Well, I haven't got all of my Bitcoin in

that one crypto exchange. So you're mitigating

your risk which is ultimately what you want to do when you're

holding these types of assets. Now let me tell you

a story about diversification gone completely wrong

because it was not diversified and my friend had

$40,000 of his own money tied up in staking and he

put all of the $40,000 with this one

particular staking exchange and

then During the last couple of years, there were some downturns. And

that particular exchange went belly up. And guess

what? The full $40,000 was just gone.

And I'm talking, like, in an instant,

it was gone. And there's no one that you can call up. Remember I

said it's decentralized. So if something happens, you can't just

ring up some of these exchanges. You

can't ring them up and say, hey, look, I've lost my Bitcoin. They're just gone. Now

that's why I do like the fact by using the

Australian exchanges, and this particular exchange where he lost his

money was overseas somewhere in some country we don't even know

about, right? But if you're using an Australian exchange,

and I like to use two exchanges, one's called

SWIFTX, and the other is called Coinspot. Now,

SWIFTX is my preferred place because it

has lower fees, because you have to pay every

time you buy, and in SWIFTX, it's 0.6% of

your total amount, whereas with Coinspot, It's generally

around the 1%. And you can get some better deals on

that. But you've got to generally buy a lot of

Bitcoin or crypto in order to get even better rates. But certainly

by dealing with those crypto exchanges in Australia, it's going to give you that little

bit of a leg up, even if you have to pay a little bit more for

the Bitcoin. I like the added security. Alright guys,

so I've told you a lot of the do's when it comes to crypto.

Let's talk about the don'ts because I've got a range of things. Now this

is for people who are a beginner. Now of course, some

of these things I talk about will be completely fine for those

who are seasoned investors and researchers and

users of crypto. But if you are my sister and

you're just starting out, this is exactly what I'm going to say to you. First thing,

is do not use leverage, okay? Now,

what is leverage? Leverage is essentially where you're going to borrow

money from an institution to buy more Bitcoin. But

depending on the bet that you make, whether the

market is going up or down will depend on whether you

can get liquidated or not, which means they could just take all

of your money. So to play it safe, simply don't

use the financial institutions extra

money to place bets on crypto. That would be one purely

for people who are experienced in this space. The second thing is

don't use staking. Now again, I

just told you about my friend who was staking all of his $40,000 and

lost it. If you just want to keep it super simple and

safe, do not put your crypto with some

other company because you think you're going to be getting this huge, huge

return. And that's the reason why a lot of people do this, right? Because the

attractiveness of like a 50% or

a 78% return on their crypto is

so enticing. They can't help themselves. But

it comes with huge risk, hence my friend lost his

$40,000. The other thing to not do would be to

do day trading. Yeah, what is day trading? Basically,

it's betting on the market and day trading can work

in a number of ways. People can bet on like two-hour cycles,

four-hour cycles. day cycles, you

can go to month, year, et cetera. But basically you're just putting bets

on the market to see if it goes up or down. And

it's a surefire way as a beginner to lose

your money really quickly. The other thing I

see some people do is they want to put money

into Bitcoin or crypto, but they don't have surplus

money, which means that they want to pull money, which is

actually meant for their mortgage or their rent payment, and put that into

crypto, hoping that by next week it's gone up and

they can sell it at a profit. That is a big, big mistake.

You keep it super simple. Just put in a certain amount

of money every single week or fortnight and just leave

it at that. Don't put in next week's mortgage

payment into crypto hoping you're going to make a quick buck. It won't

work out. This is one I see a lot of people do. They

buy high risk crypto. But of course, high

risk comes high reward. But it's a

really easy way to lose all of your money. That's

why I said in the very beginning of the do's, just keep it

simple and just buy Bitcoin. Don't get enticed

by some of these very, very what looks like

cheap cryptos. because you think they're gonna go

super, super high really, really quickly. You'll be fascinated to

know that 98% of cryptos in

the world are actually scams. So keep it simple

and just buy Bitcoin. Now, as I mentioned before,

don't keep all your crypto in one place, yeah?

Not just one exchange or one cold wallet,

diversify your crypto. By diversifying, it's

less risky. do not buy airdrops.

Now, what are airdrops? It's essentially cryptos that

are dropped into the market for those who are in the

know. And then you can jump on these and hopefully once it goes

to market, they go through the roof. They're also a surefire

way to lose money because they're called rug pulls. A

lot of these are rug pulls, which means that you get them The

price goes up and the inventor or the people who are in

the know, they then sell and you're left with absolutely nothing.

Now, this next one is, I know what you're going

to say, I would never do that, Matt. I'm smarter than

that. And that is click on unknown links on

either like social media or emails. The crypto

space is absolutely full of scams. And

once they find out your details and they can, through

various means, they'll have something on social media. I

mean, I saw one the other day. This is how crazy this thing gets. Now

you're using AI tools. Now I mentioned in the very beginning a

guy called Michael Saylor. Now he's very, very famous in the Bitcoin

and crypto space. there was an AI

version of him on YouTube talking about

how amazing Bitcoin was. And in it, it said,

if you just click on this QR code scan, and

if you just send me, it was like, send us

$100, I'll send you back $200. But it

was actually in Bitcoin, so it was like, hey, send us one Bitcoin, and

we'll send you back two Bitcoin. And I

guarantee you, people fall for this stuff, right?

Now, I know that YouTube is trying to take down all these scams all

the time, but these guys are just so, so professional, they just

keep putting them back up again, back up again. And it only takes one

time where you think, oh, well, that's Michael Saylor, and

he's saying that he'll send me back two Bitcoin if I just send him one,

and people do it, yeah? The other thing they do is click on email

links. links in the emails, which then takes them

to some foreign country and you know, you end up putting

in more money. Or the good one is just you know,

it's the same type of deal, just send us some money and we'll send you some back. Yeah,

it is just wrought with danger just so simply do not

click on any foreign or unknown social

media links or emails. Yeah. Now guys, you're

probably looking at me today thinking, I know I've done

absolutely no wrong when it comes to investing or

buying and selling crypto. Well, I admit I have. I

have lost money in crypto. The thing

is, though, I've always used money that I can afford to

lose. And where I've lost out is really not

understanding the cycles. I talked in the very

beginning about understanding the market cycles, and

I just didn't really understand it as well as what I do now.

But luckily for me, I didn't lose money that

I couldn't afford to lose. So I could still buy back into

the marketplace. I wasn't going to have to go and sell my car or sell my

house or the sales of the kids. That

didn't happen. But it certainly would have paid off if

I'd known the marketplace even better. Only put

money in that you can afford to lose. If I'd have known

the market cycles better, I certainly could have made way more

money. Now, this really relates to anything, because when

you're talking about Amazon and e-commerce, there's

times when you'll start off in that space and you might be sending in a product. and

it doesn't work. My very first Amazon product, I lost

money on. Yeah, it was about $15,000. I sent in

the car shammy, I thought it was absolutely brilliant. But what happens

is you just learn more as you go, right? But

you only learn from doing. So that's why I

say, if you're in this cryptocurrency space,

make it simple and just buy Bitcoin. But if you're choosing to

go out and you get lured in by all the other altcoins because

they look all shiny, then sure, go ahead and do that. But

just start off with really, really small amounts of money because I can

assure you that a lot of these altcoins, which is everything except

for Bitcoin, they will generally go down

by 90% during the next

bear cycle and you could end up losing a lot of money. Now when

I say lose, you will only lose if you have to

sell the asset. So let me just explain

that for you. You might buy today a Bitcoin, and

let's say you put in $50,000 of Bitcoin, and it goes

up to $100,000. Then the price comes back down

to $40,000. Now, theoretically, your investment of $50,000 has gone down to

$40,000. Now, you haven't actually lost $10,000. Only

if you were to sell the complete Bitcoin, all of your Bitcoin, then

you'd have what's called a realized loss, okay? But

if you simply just held on to the Bitcoin and that went from 40, then

it went back up to 60, 70 again during the next cycle, well

then obviously you're going to make your money back. So

if you want to go and find more information about cryptocurrency and

Bitcoin, the first place I would suggest you go to is a

website called coingecko.com. It's

got tons of information about every,

well when I say every, 99% of

all cryptocurrencies, it'll give you the market caps, like

how much money is actually in each coin, what is the current value. And

if you dig a little bit deeper, you'll find the history and

who are the people behind particular types of cryptocurrency. So

it's a really good resource just simply to start out on. If

you're looking to buy your own Bitcoin or cryptocurrency, In

Australia, there's those two places, I'll just say them again. One is

SwiftX. SwiftX, S-W-Y-F-T-X. SwiftX.com

and possibly a .au. And the other place

is coinspot.com.au. Go and check those two

places out. My preference is SwiftX because it has lower fees.

So guys, I really hope you've enjoyed that little bit of a taster on

cryptocurrency. Remember, once you start making a lot of

money through your Amazon business or your e-commerce business, you're

going to want to think about ways to build

your asset base outside of your business. And cryptocurrency and

Bitcoin is certainly one of the ways that I do and

one of the ways that you could possibly look at doing too into the future. Now,

if you want to learn more about Amazon e-commerce, make sure you click on the links down below.

And thank you so much. Look forward to seeing you in the next episode. Take care. Thanks

for tuning into Amazon Ecom Secrets. If you

enjoyed this episode, the best way to show your support is

to give a five-star review on Apple Podcast and Spotify, and

make sure to subscribe on YouTube so you don't miss an episode.

You can also find more at I'm Matthew Fraser

on all social media platforms. Thanks so much. Take