Immersing in the World of Cryptocurrency Trading with Jamar James

Ever wonder what it would be like to dive headfirst into the electrifying world of cryptocurrency trading? We're thrilled to be joined by Jamar James, a seasoned trader and influencer who has not only done it, but thrived. We break down the simple and complex aspects of digital currency, from its volatile nature to its potential for wealth creation. Jamar pulls back the curtain on his journey and the benefits of living off cryptocurrency. Plus, he offers a glimpse into his DCG Trading Mastermind community that offers a platform for like-minded traders to connect and learn.

We're going beyond trading cryptocurrency in this episode. How secure is your crypto? We tackle this burning question and delve into the scams lurking in the crypto space. With the rise of decentralized finance, we forecast the potential impact of digital currency on traditional financial institutions, detailing the higher returns for users and strategies to transition users into the crypto world. Jamar offers invaluable insights on the future of cryptocurrency, its security, adoption, and the shift towards decentralized finance.

Transitioning from traditional currency to cryptocurrency can feel like a daunting task, but it doesn't have to be. We share tips for a smooth transition, including educating yourself about blockchain technology, starting with a small portion of your savings, and investing in a reputable hardware wallet to secure your assets. If you're a beginner, Jamar's seven-day challenge is a game-changer. It's designed to help you understand the basics of crypto, from understanding tokens and coins to trading and securing your assets. This episode is a must-listen for anyone intrigued by or interested in the world of cryptocurrency. Expect discussions on the future of crypto, government regulation, and mass adoption that will surely stimulate your crypto curiosity.

Transcript

Speaker 1: 0:02

Welcome to Money Matters, the podcast that focuses on how to use the money you have, make the money you need and save the money you want. Now here is your host, ms Kim Chapman.

Speaker 2: 0:14

Welcome to a new edition of Money Matters. I am your host, kim Chapman. If you've ever wondered about diving into cryptocurrency market or if you're looking to sharpen your existing knowledge, this is the episode for you. Join me on this journey as we uncover the secrets of building wealth in this digital age. My guest today is Mr Jamar James. Jamar is a well-known trader and cryptocurrency influencer, known for identifying trading and cryptocurrency trends before they even happen. He's got a nickname the DCG Trading Mastermind. Welcome, james. How are you today?

Speaker 1: 0:50

Awesome. Thank you for having me. It is a fabulous month and year in the market.

Speaker 2: 0:56

Well, I'm ready to learn all about it. So, before we get started with all the crypto language, just give us a little information about you, your background and how you get to be this digital mastermind.

Speaker 1: 1:09

Well, you know, I've been in the crypto markets since 2016. My background is in computer science. I graduated from Long Beach State Computer Science a degree back in many moons ago, 2002. I started off as a developer and I got into that. Space technology and it updates every six months to a year. You have to continue to learn your skills and update and I got into trading back in 2009 after, I guess, the banking crisis, and now I'm about the same time that Bitcoin came on the scene the white paper, bitcoin 2009. And it was something that you know. It was virtual money. No one really took it serious Not a lot of people took it serious back then and it was really technology and so I got into crypto through the blockchain. You know it first started off as mining. It wasn't really a asset to trade. It was more of a long-term investment in a whole.

Speaker 1: 2:09

But through that experience of learning how to trade, I really fell into the crypto community, and these communities is something I like to call them tech misfits you know, the crypto currency because it's really a mix of finance and technology, and so, on the technology side, I was intrigued on the blockchain and you know, that's the same time, social media started taking off and we started seeing a change in culture and these meetup groups would go and they would talk about how, you know, the economy, the money, is changing, how are we going digital, a cashless society, and so that's really what attracted me was the alternative to the dollar and you know, being a part of the community and also in the trading community, it is also a quality alternative lifestyle. You know, traders are a different breed of people. They don't want to. You want to maximize your time working, and so that's what the trading offers is a minimal time working. You can make a lot of money in a short amount of time. You also can lose, and you know I was attracted to both spaces the trading and the cryptocurrency and that's how I really got into crypto.

Speaker 1: 3:18

And in 2016, I was working with hedge funds and prop firms and I see a lot of traders start going off on their own and they started trading more crypto, and so trading crypto became a lot more popular around 2015 and 16. And a lot of people that was trading traditional markets. They started digging into it and it wasn't really to accumulate. For me, it was really just a. It was a trading asset no different than gold oil.

Speaker 1: 3:44

You know, we treated it as an opportunity to have volatility, and that's really where the mastermind came in is that, you know, there wasn't a place you can learn crypto. So, you know, creating the mastermind was a idea to bring people together that wanted to learn how to trade and also talk crypto and also meet up in person. So I created the DCG mastermind for traders, you know, for people that wanted to learn how to trade. Also, as a spin off with a cryptocurrency community is it was so much information and misinformation that we wanted to create a real environment that people can come together to learn. And that is kind of took off in 2017. The market, the crypto, blew up and went to 20,000 from, I think, 600 started the year off and at that point, a lot of millionaires and a lot of a wealth was created in that year and that was kind of the the flagship year for crypto. To say that hey, hey, we're here and the volatility and assets start being looked at more seriously.

Speaker 2: 4:49

So you talk about living off of cryptocurrency. What does that look like? So?

Speaker 1: 4:54

when people look at cryptocurrency, you have to look at it as you know, just a different currency. When you go to Mexico, you live off of pesos. You go to Japan is yen. When you're in Russia is Rubles. You know. So every government in every country has their own currency.

Speaker 1: 5:13

Well, cryptocurrency, bitcoin is kind of where people it's not owned, essentialized by a government. It is actually traded amongst people. So to live off cryptocurrency, you know it is with like-minded people. You know if you're in Mexico, you're gonna use pesos. If you're in Japan, you're gonna use yen.

Speaker 1: 5:30

If you're in a crypto community, you have Bitcoin and so living off of it, it is alternative to banks. Great base is a centralized Place where you put your money in and if you've ever been outed about our asset, it's in a letter and say they freeze their assets Right on cryptocurrency, in Bitcoin, no one can freeze your, your assets. They can't freeze your wallet. So you know they have the freedom to Choose. To say you know I'm gonna have a bank account, but also gonna have crypto and now I have my own bank, and so we had this term become your own bank. It is the idea that we all can be our own bank. So when you have Bitcoin, you can be your own bank and you can Transfer it just like you transfer if you had a million dollars in pesos. It's an exchange.

Speaker 2: 6:21

So are there any tools, like debit cards or credit cards that are associated with cryptocurrency?

Speaker 1: 6:28

There's cryptocom. It's one of the main. You know issuers in the United States that are you still centralized? So any kind of visa or mastercard. There's plenty of ways to move crypto to a visa or mastercard, but Bitcoin is designed to be peer-to-peer, so your wallet, you know Peer-to-peer from my wallet to your wallet and we cut out the middleman. But when you use visa or mastercard, you put in a middle middleman there and they'll take transactions out at these To use their platform. So that's normal in America.

Speaker 2: 7:03

All right. How secure, would you say, is cryptocurrency?

Speaker 1: 7:07

I think it's the the most secure currency that you can have, but it's also your process. So if I had a million dollars in my house and I had to land around, I should have had that room locked or Absolutely.

Speaker 1: 7:20

Right, and so the same thing with crypto is that no one can get access to your crypto unless you allow them to have access to your private key to your wallet. And you know it's just. It's just curious your process, no one's gonna guess and it's cryptic, right? Crypto currency is cryptic, it hasn't been broken into. But once someone has your private key, it becomes no different than you leaving your username and login for your bank account on your computer.

Speaker 2: 7:49

So what type of dangers or scams you know exist in the crypto world? Like I said, you know somebody gets a hold to your key, but I would imagine that's just regular negligence on the key holders part. But you know what are some things that are really maybe beyond that person's control. What type of scams or dangers exist?

Speaker 1: 8:06

to me. I believe that everything is in the person's control. You know, and there's so many scams in crypto because people have been programmed and, and you know, raised to Trust someone else who's there with their funds in crypto. We don't trust anyone to have our funds. You don't want to buy into an MLM. You don't want to buy into, you know, someone to manage your money. The whole ideal of Bitcoin is that we own you own your wallet, right? So some of the scams that are that are floating around email phishing that hey, you know, connect your wallet. You know we want to give you a raffle. They go in and you hit the link and it actually tries to recover your Private key. Once one has your private key on crypto, they can access it from anywhere. So you have to guard your private key from anywhere and you'll have.

Speaker 1: 8:58

I've seen people get scammed in telegrams. They're like, oh, we'll help you troubleshoot your wallet and then they'll go in and tell them to click this button and show this barcode which shows them their private key. So it's really, you know it's supposed to be trustless Security. You know you don't have to trust anyone else. They help you, but you have to be educated to protect yourself from scams. There's so many scams out there, right. There's platforms that say they'll trade for you. There's financial traders that say, hey, we'll turn your money for you. The meadows are all scams when it comes to crypto.

Speaker 2: 9:30

Are there any insurances similar to like fdic and ncu a that are available for cryptocurrency holders?

Speaker 1: 9:36

no, there's no. There's no insurance that's going to reimburse you if you make a mistake in crypto.

Speaker 2: 9:45

Not what I wanted to hear. So, what type of businesses or services except cryptocurrency as a payment, universally?

Speaker 1: 9:54

I believe there's. There's a huge amount of adoption going on, but right now you have PayPal, you have Venmo, you have straight right. You have all these centralized payment processors that accept crypto Right and they also can bring it for you for ap anywhere that accepts a mastercard and visa. They accept crypto right because you can move crypto onto a visa or a mastercard. So it's like asking you know, if I had a million dollars in yen, in yen, I went to Japan. So we get me a million dollars. Who accepts the yen in the United States? Well, you normally just convert it right from the end. You go to a currency change, you go to the airport and you convert the yen to dollars. There's no difference. Then, you know, with bitcoin, you just convert it right there on your phone from bitcoin to dollars and any. Everyone accepts it.

Speaker 2: 10:43

Oh, wow, okay. So how will live it off? A cryptocurrency effect consumer relationship with financial institutions such as and of course we're credit union. So how will? What type of impact would that have?

Speaker 1: 10:55

I think it's going to have a huge impact in the future of money, the future of trading. Why is it going to have a huge impact? Because Platforms and decentralized finance Is offering, you know, 12 to 20 percent on your funds. So keeping it in a bank and Having a bank give you 1% or 2% a year, you know, maybe, maybe 4%, you know it's gonna. It's gonna Make it more competitive when a person would say, hey, wow, why would I keep money in a bank making 2%, when I can keep it over here and make 10 to 20 percent.

Speaker 1: 11:33

You look at, you know, even for me it's like if I like Starbucks, right, I'm just gonna give you how the world is moving. If I like Starbucks and I should, hey, if you keep $10,000 over here on Starbucks, you'll get a free coffee every day. Well, to me that's five hours of data I'm getting and rewards I'm gonna start working words where my bank is giving me what, charge me two dollars every time I have to. Well, I want to pull out money pretty soon when I want to do a debit card transaction. They're actually charging me to use my own money, whereas other Companies, private plant institutions they're rewarding me with more and have it over here.

Speaker 1: 12:10

So I think in the future you'll have Amazon, you'll have Walmart, you'll have, you know, starbucks. They'll be be. They're changing banking right now and so when you look at crypto, if you loan your money out on a crypto platform and just say, hey, here's liquidity, you know you can earn up to a hundred percent on your funds. We could they give you rewards on fees so, as that platform is being used, you can actually make money by storing somewhere else.

Speaker 2: 12:34

Wow. So how do you help consumers transition into cryptocurrency?

Speaker 1: 12:39

I'm sure, you didn't earn the mastermind title for nothing.

Speaker 2: 12:42

All right.

Speaker 1: 12:43

So you know we're a light-minded individuals. We believe that we can make, we can do everything a bank can do. Well, we also know that we live in America and cash is not going anywhere, and so there's an alternative that I can keep half my assets and in the banking system and I can keep another half and in crypto and I'll actually make more money in crypto with the mass adoption. So we really exchange information, we mastermind.

Speaker 1: 13:07

You know there's new things that are coming out, like, for instance, if I didn't have a bank account, I don't need to put my money in a bank. They're like well, how would you get it without having a debit card? You know you can actually convert your crypto. Like money ground is integrated with crypto, so I can actually send my crypto to money ground, that I can walk in the store and pick it up and cash Right, and so it's like well, I've just converted. I just had a transaction without a bank, without a debit card, and all I had was crypto and I can go anywhere in the world and do that same thing.

Speaker 2: 13:38

Wow. So if I'm brand new to cryptocurrency right, somebody's out there listening they wanted to kind of dabbling it, learn a little bit more information. Where do they begin, I say?

Speaker 1: 13:49

first. She's just saying, hey, there's your first. She needed you get into crypto. Being community, don't trust one person, right? Join a community of people where, this way, you can validate and verify the information that you're getting. That is a big part of being in the space is not getting your information from one source, so that's why we mastermind. I have a site this join DCG calm. They can actually take the seven-day challenge, which is like was the first step just getting crypto, getting a wallet on your phone, and Start with five dollars, start with one dollar. It doesn't matter how much you start with, because the process is the same whether you start with one dollar or ten thousand. So once you go through the process one time in the seven steps, you know you will be crypto ready.

Speaker 2: 14:37

So how has cryptocurrency changed your life?

Speaker 1: 14:40

I think it's giving me freedom to, you know, make as much money, to be as global minded. You know I don't feel that I'm centralized. I understand decentralized finance. I became empowered, understanding that, hey, just say I died tomorrow and my money is in a bank. How will my family get it? Does it go through probate? Do they leave it if I didn't have a will? Or my wife, you know, she has my private key, she just transfers in it to herself and she has the funds Right. There's no probate, there's no middleman. So I feel empowered to own. Like what happens if I have no banking? What happens is economy crashed. I feel I have an attorney, so I feel more secure and more safe in the world Because I have crypto and you mentioned, if she has that key, what happens if she doesn't have it?

Speaker 1: 15:31

She has it.

Speaker 2: 15:34

Good answer on both fronts.

Speaker 1: 15:37

Yeah, she has it.

Speaker 2: 15:39

So what resources would you recommend for consumers that want to learn more about cryptocurrency?

Speaker 1: 15:44

I mean, there is a ton of information on YouTube, there is a ton of information on the internet, but, as you know, there's also misinformation. I say that the most important thing is to get around genuine communities right. There's plenty of communities just on Facebook in live, but there's a lot of scammers out there and that's why I say validate and verify in a community where you can ask questions openly and you can start. And that's why I say I created a seven step challenge just so guys can get in and they can start the process in an environment that's trustworthy, because nobody should ask you for your crypto. No one should help you create your wallet. That's something that you do because you want to protect your private key. I've seen people get help. They got help by a scanner that wanted their private key. We're all about independence and protecting your information.

Speaker 2: 16:32

So can you tell us, give us, a little bit more about that seven step challenge. What does it involve?

Speaker 1: 16:37

So it's really just a one hour a day challenge. You know, the first day you get crypto. You get Bitcoin Because once you get Bitcoin on a phone, on an electrical device, you can send it amongst yourself. You can send it from your cell phone to your desktop, the desktop and cell phone. And that is the first practice. The second is understanding what tokens are out there. You know Bitcoin is the main cryptocurrency, just like the dollar is the main currency in the world but there's other currencies.

Speaker 1: 17:06

So then the second day, we educate you on the difference between tokens and coins and explain kind of like the blockchain. The third day, we teach you about trading and with the trading tools you can use, like trading, view point, market cap. And then the fourth day, we teach you about reading news and events and calendars and places you can go to actually get help and meet people in person. And then the fifth step is about strategy. With some of the strategies you can apply with crypto. You know how do you trade it, how do you make money with it. And day six is securing your crypto. Right, you know protecting it. And then day seven, it is all about repeating the process, going through it and now saying hey, can you make money with crypto?

Speaker 2: 17:50

Wow, sounds like you can really learn a lot just from doing that seven day challenge. Who would you recommend take this challenge? Anybody that's wanting to learn about cryptocurrency. Do you have to have at least a little knowledge before going in?

Speaker 1: 18:03

No, it's anybody, and that's why I created a free challenge, just to get guys in the process, Because once you have crypto now you're you establish your wallet. So same thing was like you know when is a good time for your kid to have a bank account? You know, my kid has a bank account at nine years. I've been teaching him about money right away. When is it a good time for you or your kid to have crypto? It's like right away. If you have a cell phone, you have a bank in your hand.

Speaker 2: 18:32

Wow, and I know kids definitely understand money. I'd be curious to see how interested? They are in learning that, but you've actually developed a course for colleges and universities. Can you tell us a little bit about that?

Speaker 1: 18:43

Yeah, so actually the seven day challenge is accredited course at colleges. So you know they have a test that can get credits for taking it and it's the same free seven day challenge that I've just given them giving you. But if you're actually in college and wanted to get credits, it's an elective credit that they can go through the seven day challenge, pay for it at a university and get credit on the finance side as an elective for going through the seven step challenge.

Speaker 2: 19:09

Wow, what's next for cryptocurrency? You know, I think mass adoption.

Speaker 1: 19:13

You know the Fed has switched over to a Fed analysis and we're. You know why does our wire take three days? Or why do financial transactions take two or three days to get from one account to the next? Or we can send an email and text message.

Speaker 1: 19:25

I think what's next for Bitcoin is integration. In any place they send money. So PayPal, venmo Cash App there's going to be more used globally. Right, you can't really get banking as you, as a citizen outside the country, as easy, but if you have crypto, you can go anywhere in the world and you can transact, and so that's actually one big point, is one big point in the United States, is one big point in Africa. It is a global mass adoption that we're seeing places like El Salvador and in Europe that they're basically adopting crypto as one of their main currencies. So I think you're going to see more businesses accept crypto. You're going to see you know you go a place like Japan and the vendor accepts Visa and crypto. And you know Switzerland. You know that is the closest to the United States. You know system. They're about 98% cashless society right now.

Speaker 2: 20:20

How long do you think it will be before cryptocurrency is as normal or standard, as regular, as you know, paper currency. Or digital world.

Speaker 1: 20:32

I think you know the. The government wants to tax it. So it's like you know, they've hired, you know, 80,000 new IRS agents. I think as soon as they get it all regulated in the next two years, it will be a normal currency for each person to have. I mean, during Kobe, they talked about having a digital wallet for everyone. If you start looking at the IRS website, they don't even they call it wallets. Now, right. If you go to your supermarket, they don't call the telephone number, they call it digital ID, right. So they're transitioning right now, as we speak, into the blockchain IRS website, the. You know super grocery stores. You know Amazon. You have an Amazon wallet. You know they're in process. Right now. You transform the currency from bank accounts to wallets.

Speaker 2: 21:21

Well, it sounds like you've given a lot of good listeners, the kind of like a dangling carrot with this seven day challenge. So how can they find the seven day challenge? How can they connect to you if they want to learn more?

Speaker 1: 21:34

Yeah, so my name is Jamar James. I'm on Facebook Instagram with my name Jamar James. Dcg mastermind is the mastermind group. It's a paid group and in our free seven-day challenge is just join DCG dot com. J O I N DCG dot com and you can take the challenge from there. As a course is all online, there's no barriers to entry.

Speaker 2: 21:59

It is free. Well, this is some good information. I think you're gonna see a lot of traffic going to this seven-day challenge, so I want to thank you for joining us and hopefully we'll have you back soon, because it seems like cryptocurrency isn't going anywhere.

Speaker 1: 22:13

Not at all, and I'll be happy to come back and thank you for having me.

Speaker 2: 22:16

All right. Thank you, mr Jane. Transitioning from regular currency into cryptocurrency is a significant step, given the nuances, technologies and financial strategies involved. If you're considering making this shift, it's crucial to be well prepared. Here are some tips to guide you through this transition. First, educate yourself. Understand the basics of blockchain technology and how cryptocurrencies work. You don't want to start off too fast. Start slowly. Consider beginning with a small portion of your savings or income in cryptocurrency. You just want to get a kind of feel for management and then finally Secure your assets. Invest in a reputable hardware wallet if you plan to hold significant amounts of cryptocurrency. And Finally, you can check out neighbors fcuorg for Financial education to learn more on how to use the money you have, make the money you need and save the money you want.