Coinbase Tax Interview – Turtles of Trading

On this post you’ll find the answer to Coinbase Tax Interview….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the first of all you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are produced again with an account manager in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing

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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row purchase these choices because you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.

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popular for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee sites then may not charge you for really buying and selling funds or etfs individual products private stocks.

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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.

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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a cost to remember the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.

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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say provide me us dollars instead you need to pay their charges now the terrific thing about however when you’ve converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website won’t definitely limit you in any way however we have to understand 2 other costs the first being what’s called spread fees alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you

on is generally the difference that becomes part of the investment platform between the buy rate and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact means that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread out charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last accomplishment is called an

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overnight charge now this is truly crucial if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer deal in the exact same day okay there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which means you’re actually buying the exact possession rather than using utilize anyway you won’t get hit with these charges but these fees are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the help area this isn’t the overnight charges information you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some service charges obviously depending on what you are buying too this is on your own so keep that in mind however complete fees are entirely within their assistance details okay and we spoke about as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of really utilizing these copy functions they don’t have any extra costs on top of the regular costs that

exist now what you need to bear in mind though is these potentially handled by other individuals totally or often have actually developed portfolios you have actually got a genuine person doing the management you have to make sure you select the person that’s right for you just like any type of work this is your financial possessions so we absolutely require to make certain it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but really purchase pretend buy copy individuals whatever you like if you’re not

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feeling comfy with using your real money possibly this is an excellent choice for you once again to test the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it allows you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply implies am i okay with possibly losing a good quantity of this investment or getting as

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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money but that equally suggests they’ll lose at some time in their journey obviously individuals do generate income also and i’ve got videos all about how you can make sure you are among the people to actually make money but in this situation ensure you research your threat level would you be okay offering your cash to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities

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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact use this too actually easily over here you can copy individuals now it will offer you a great deal of options and you can use the system to in fact look for somebody that you fancy actually following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has actually fulfilled that criteria and it does offer you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns

bear in mind it’s like anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you okay with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i buy too which is good so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production business as that. Coinbase Tax Interview.

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