0:01:00 - 0:03:00 Good Morning and welcome to Bitcoin on the Beach.

0:03:00 - 0:05:00 I thought today we would go through what Markets are.

0:05:00 - 0:07:00 Markets such as the NYSE or NASDAQ (NYSE=“nyzeee”, NASDAQ=“nazdack”)

0:08:00 - 0:11:00 are US Equities markets that are highly regulated.

0:11:00 - 0:14:00 When we talk about Crypto, it's Kraken and Coinbase.

0:14:00 - 0:16:00 Those are the Centralized Finance "CeFi" Exchanges Pronounce CeFi as “seefigh”

0:16:00 - 0:19:00 where Buyers and Sellers meet, that's called a Liquidity Pool.

0:19:00 - 0:21:00 That Liquidity Pool 

0:21:00 - 0:22:00 has a Market Depth Display. 

0:22:00 - 0:25:00 The prices that they're willing to Buy and Sell Bitcoin at.

0:25:00 - 0:27:00 So what happens in trading?

0:27:00 - 0:28:00 Let's say that you're a buyer of Bitcoin.

0:28:00 - 0:31:00 You put in an Order to Buy 5 Bitcoin at $28,000.

0:31:00 - 0:33:00 Without a Seller that's called a "One-Sided" Market.

0:34:00 - 0:37:00 You're the only Buyer. Without a Seller, you're not gonna buy your Bitcoin.

0:37:00 - 0:42:00 A Seller may show up. That Seller may be in there to sell 5 Bitcoin at $28,500.

0:42:00 - 0:45:00 You're in there to Buy 5 Bitcoin at $28,000.

0:45:00 - 0:47:00 So what happens?

0:47:00 - 0:51:00 Well you can sit there and wait until that Seller reduces their price down to $28,000.

0:51:00 - 0:55:00 Or you can increase your price to $28,500.

0:55:00 - 0:59:00 You may get impatient so what you could do is change your Buy Order of 5 to a Buy Order of 4.

0:59:00 - 1:04:00 Put in a new Buy Order to Buy 1 at $28,500 and then see what happens.

1:04:00 - 1:06:00 Now at least you've gotten part of your position.

1:06:00 - 1:10:00 Another Seller may show up to Sell 1 Bitcoin at $28,200

1:10:00 - 1:12:00 In which case, Buy that Bitcoin!

1:12:00 - 1:15:00 Or you can raise your price at which you were willing to Buy it

1:15:00 - 1:16:00 which may bring out a Seller

1:16:00 - 1:19:00 Once you've purchased your Bitcoin, now what do you do with it?

1:19:00 - 1:22:00 If you're on an Exchange, you could leave it on that Exchange

1:22:00 - 1:24:00 There are risks associated with that

1:24:00 - 1:25:00 but in general

1:25:00 - 1:26:00 once you've purchased your Bitcoin

1:26:00 - 1:29:00 you could leave it in Custody at the Exchange

1:29:00 - 1:33:00 That would make it easy for when you wanna go sell it

1:33:00 - 1:35:00 you would go to your exchange and sell your Bitcoin 

1:35:00 - 1:36:00 at that Exchange

1:36:00 - 1:38:00 You couldn't go to Kraken and Sell 

1:38:00 - 1:41:00 the Bitcoin that you purchased at Coinbase. 

1:41:00 - 1:43:00 You would have to move that BItcoin

1:43:00 - 1:44:00 from Coinbase to Kraken

1:44:00 - 1:46:00 If you wanted to Sell it on the Kraken Exchange

1:46:00 - 1:49:00 So the question is "Why would you want to sell it on the Kraken Exchange?"

1:49:00 - 1:53:00 Instead of on Coinbase? The Price may be better on the Kraken Exchange.

1:53:00 - 1:56:00 But it doesn't matter because if your Bitcoin isn't there

1:56:00 - 1:58:00 Then you can't Sell it.

1:58:00 - 2:00:00 So the choices in Custody are

2:00:00 - 2:02:00 you leave it on the Exchange, there is some risk

2:02:00 - 2:04:00 or what you could do is something called Self-Custody

2:04:00 - 2:08:00 Which is moving it off the exchange and onto one of the 

2:08:00 - 2:11:00 cold storage devices such as the Trezor Model T.

2:11:00 - 2:13:00 Thank you for joining me here today

2:13:00 - 2:16:00 Again nothing here is financial advice, this is for educational purposes only

2:16:00 - 2:19:00 If you have questions please put them in the comments below 

2:19:00 - 2:21:00 and I'll get back to you as soon as possible.