– This is so crazy.
This is one of the most common questions we get on social media, and it's from you.
It's: Dan, should Iinvest in cryptocurrency? Should I buy bitcoin? Should I get into forex trading? Or, I'm in it.
What do you recommend? Do you do forex trading? Do you buy cryptocurrency? So, today in Boss In The Bentley, I'm gonna answer once and for all.
(upbeat music) If you're asking me, Dan, should I invest in cryptocurrency or shouldI get into forex trading? The simple answer is:The very fact that you're asking me about this is.
Because when you ask me this question it means, chances are youdon't know enough about them.
Maybe you see it on social media, or your friends told you about this, or you hear somebody makingsome money doing this.
And you thought, "It's a good idea.
The problem is.
You think of forex trading,or even cryptocurrency.
They're not a fucking business.
They are just investments.
So, in case you don't knowwhat forex trading is.
All it is, throughvery, very simple terms: You buy currency at a certain rate, hopefully you buy low.
And you sell currency at a certain rate.
Hopefully you sell it high, right? That's all that is.
You buy low and sell high.
That's how you makemoney in forex trading.
I make money throughcurrency exchange, where.
Example: I have a lotof revenue coming in, in U.
Then, I would see when is a good time to hold on certainamount of dollars of U.
Or, a certain time I know that, hey, it's gonna go down probably.
Then, I'm gonna sell some U.
And convert into Canadian.
So that, to pay for the company expense and all of that stuff.
But, I'm not trying to makemoney on the difference.
Right? I'm trying to more fully utilize the capital more efficiently.
But, I'm not trying to make money on that.
When you've got no money.
When it comes to money there are three things you need to know.
There are three skills you need to know.
Making it, keeping it, and multiplying it.
A lot of you guys, you'retrying to multiply.
You've got nothing to multiply! You've got a couple grand,you've got ten grand, you've got 20 grand, you've got 50 grand.
That is nothing! It's not enough to multiply.
You're not going tobecome wealthy that way.
The very first thingthat you have to do is, focus on making it.
Maximizing your income.
When you maximize your income, assuming you don't justblow it all, like an idiot, and you keep most of it.
Not to be frugal, but you keep it, you accumulate it, sothat you could invest.
Now you can invest insomething that is sustainable.
Something that will provideyou with a good return.
But, first you need to develop what I call a 'high income skill'.
You need to have a skillset that can earn you, continuously, money.
If you think about it,even cryptocurrency.
So, you buy a little bit of bitcoin, you buy a little bit of cryptocurrency? So fucking what.
You still can't pay the bills.
You still can't put food on the table.
You need a continuous income stream, that allows you to do that.
You need the ability to earn.
To earn money on a regular basis.
To pay for your bills.
Otherwise, you're trying to speculate.
See, the most dangerous thing is this: If you go into something,and you're speculating, and you think to yourself,"This is a business.
It's not a fucking business.
At best, at best, it's speculation.
Some peoplemight disagree with me.
I know I'm gonna get comment from YouTube, on social media, about,"Oh no, let me explain to you about cryptocurrency,let me explain to you about blah, blah, blah, blah.
Let me explain to you,it's not what you think.
" Fuck you guys, I don't give a fuck.
I'm just saying, I don't agree, and it's not what I invest in.
I'm so pissed off, because I have people, quite a lot of people, using my name.
Set up fake Facebook group,fake Facebook profile, fake Instagram profile,fake stock tip profile, using my name.
Using my picture,pretending to be Dan Lok, telling people to buy certain stock.
Telling people to buycertain cryptocurrency.
Telling people, basically,scamming people, using my name.
I don't approve of that,I don't appreciate that.
So, if you see anything like that? If you're my fan, don't believe in that.
You see anyone recommending a stock tip, cryptocurrency, orbitcoin, or forex trading.
Whatever it is.
100% percent, it is not me.
So, if you want to follow me, follow me on the proper social media channel.
Which, I have my links on all my sites, on my YouTube description.
Those are the officialsocial media accounts that I have.
Anything outside of that? They're fake, they are not real.
People using my name, because they know how much exposure I have.
And that's what pisses me off.
Not only they are telling people to invest in certain things, they are basically using my brand to deceive people.
That is just fucking wrong.
And my legal team is constantly, we're shutting that down every damn– Before, it was every month.
Now, it's almost every day we gotta shut these things down.
That's how crazy it gets.
So, the most dangerousthing you can do is, going into speculation, thinking it's gonna be an investment.
It is like, the other day.
Jenny and I, we were in Vegas.
And I never gamble.
I don't gamble.
You've read my book, you know I don't like gambling.
But we got some time to kill.
And I thought, you know what? Why don't we just, sitting in front of this Monopoly, kind of a slot machine.
So, cool! Let's just play some games.
So, we put in like $100bucks, or whatever.
We play, and we actually,from $100.
00 bucks, within like, 30 minutes, we were up $300.
This is cool, this is fun, right? And then, afterwards, we keep playing, and went from $400.
00 – $300.
00 – $200.
00, and then we lost all.
We lost $100.
00 bucks, right? It is very foolish tothink, oh, you know what? Is that an investment? Or, am I trying to make a living, playing the Monopoly slot machine? Or, am I trying to get rich with that? That's how stupid it is, when it comes to you thinking about forex trading, or cryptocurrency.
That thinking of, you know what? I'm gonna make a business out of that.
It's as if you're saying, I'm gonna play the slot machine, and hopefullythat will make me rich.
It's not even speculation.
To me, it's a game.
It's like, I lose $100.
00 bucks, it's no big deal.
It's a fun thing.
It's just entertainment.
I'm not counting on that to make money.
You shouldn't count on that to make money.
The only thing you counton make money, is you.
See, real estate doesn't make me money.
The stock market doesn't make me money.
Business doesn't make me money.
I make me money.
Those investments work because I work.
Your investment wouldwork only if you work.
The only thing, theonly person to count on to make you money, to make you successful? It is you.
So, comment below.
Don'tfollow those advice.
They are not good for you.
Learn to think independently.
And, until next time, I'llsee you in my Bentley.