Are you really excited abouttrading cryptocurrencies online and buying in with your
US dollars or euros, or yuan, or pounds or whatever you
are using? I am too, and what I want to know is
what is the very fastest way to do it. As I look down there's
hundreds of different currencies I can buy here and
the question I have today is, "What's the very fastest way
for me to take the US dollars out of my wallet and put it into
one of these 175+ currencies that are available on Bittrex?" Once I have got my money on
Bittrex then I can very easily trade all of these top
currencies here. What I am going to do is a
speed test, I am going to test each of the
Bitcoin, Ethereum, and Litecoin. These are three currencies
that Coinbase allows me to instantly change my US dollars
into.
Would you leave a like on this
video if you would like me to do more of these speed tests, testing different wallets, testing different exchanges to
see what is the fastest? I want
to know what is the very fastest way for me to get my
US dollars into any altcoin because I can instantly change
to Bitcoin and Ethereum, and Litecoin, but if I want to have more
buying options, I like Bittrex so far as the
fastest I have used to be able to change my currencies. So what I am going to do, I've got three different
stopwatch programs here, the Google stopwatch, the time and date stopwatch, and another stopwatch. I am going to go through and
do this live with you and fast forward if it takes a long time. I am going to change the US
dollars into Bitcoin, into Ethereum, into Litecoin, I am then going to send those
over to my Bittrex wallet.
I will then time each one of
these transactions, and tell you then by the end of
this video exactly which one of these on Coinbase and
potentially, if you are using other wallets, this will have the same
impact, to show which currency is the
very fastest to change into a-- from a fiat currency like US
dollars into it. Here we go, and I will have to edit some
parts out so that-- if there is confirmation codes or
passwords or whatever. What I am going to do, I want to buy a currency. There is one currency I am
really excited about, I am going all-in, I have sold everything else
and I bought this one currency, if you want to see which one
that is, I've got a course up explaining
what I think is the number one crypto investment opportunity.
I am grateful for everyone who
has enrolled in it already, over 5,000 in sales on my
university in the last two weeks, I am extremely grateful for
that. If you would like to see exactly
which currency I am going to buy with this, then would you please enroll
at the University of Jerrybanfield.Com. What I want to do is be able to
buy this currency as fast as possible. What I will do is I am going to
buy $400 of Bitcoin, of Ethereum,
and of Litecoin, I am going to put that on www.Bittrex.Com
and see which one of those does it the fastest.
That way in the future, I can just use that one
currency to deposit, instead of potentially getting
stuck, some Bitcoin transactions
have taken as long as eight hours, and I don't want that. I am going to start with Bitcoin
because I think Bitcoin will be the slowest. I will put $400 in here in
Coinbase. Again, if you would like me to do
some videos on other exchanges like Poloniex, just leave a like and that and
then I will test Poloniex as well.
Poloniex has been going
really slow the last few days. What I will do, I put $400 in here, you will see there is a fee on
Coinbase, there is a-- Well, let me just blank my face out. There is a four dollar fee on
Coinbase to change, plus there is an exchange rate
difference, Coinbase is effective however
it does have significant fees, but it is instant. As soon as I hit buy Bitcoin
right here, I hit the confirm buy button
over there.
Now, I view my dashboard
and it says it is instant but I-- sometimes it takes a minute. You can see, even though I hit buy on my
Bitcoin, I don't actually have that in my
wallet yet. What I will do is just to not
account for the Coinbase's individual time variations. I will buy $400 in Ethereum
also and wow that only gets me 2.
36 Ethereum, that used to get
a lot of Ethereum. So, I am going to buy $400 of
Ethereum and then I am going to go back to my dashboard
and it still hasn't updated yet. What I am going to do is go
over here to Litecoin, I am going to buy $400 of
Litecoin also, and then we are going to test
all of these against each other to see-- as soon as they are all
ready to go, I am going to send all of these
at the exact same time over to Bittrex and we will see which
one actually gets deposited the fastest, and we will see which one
then I essentially want to use in the future. Now my wallet is going a little
bit slow on Coinbase, it is not allowing me to-- I just
spent the 400 on each of it and usually, it is instant on Coinbase, it said instant buy on all of
these but as you can see, it hasn't actually put it in there
yet.
What I will do is pause this
part of the video here and I will continue once-- I will tell you--
I'll just start the stopwatch, I will tell you how long it took
before I could actually send it out. You can see why I want to do
a speed test like this because of how impatient I get with
using stuff, I am used to everything
working, so it took a whopping one
minute twenty-seven seconds for my balances to all transfer
properly. So if you look now, I have got all the balances I
just bought into Bitcoin, Ethereum, and Litecoin, and what I will do now, I am going to start the send
request process, what I will do, I will grab each one of these, so I will send each of these
over, so I need my deposit address. I will type the Bitcoin number
in, I will send all the Bitcoin, I will send-- I will select my
wallet so I'll send all the Ethereum, and then I will also do the
same thing on Litecoin.
I will go in and send each of
these different transactions over to www.Bittrex.Com and
what I will do is start the stopwatch, so I am not going to film every
single minute of it, it might take anywhere from
10 to 40 minutes. What I will do is when I get
each individual deposit, I will stop the stopwatch, I will film that part of the video
and show you that I got it, and then once I have got them
all, I will compare all the results
for you to show exactly which is the fastest. In order to get my deposit
address, all I do on Bittrex is I hit the
plus sign, I go up to my wallet, I hit the plus sign right here
and I follow the instructions it gives me. And then I put that exact
address in the exact correct wallet.
Now, one of the things I could
potentially screw up doing this, if I send Bitcoin in my Litecoin
address, for example, I could potentially lose all my
Bitcoin that way, so I recommend test this on
the smallest amount you are comfortable possible, I have transacted now in
hundreds of thousands of dollars online. So far everything went
smooth. I always double check my
addresses in the beginning and in the end to make sure
they look right and I try and take it slow, make sure I have got
everything pasted and send that in there. I am going to send all of these
over to Bittrex and see which one goes the fastest and then
start the stopwatch in each one.
And then, I will pause the video and then
I will record each additional part once the transaction is
finished to show you how long it took. Thank you very much for
watching this video with me, I hope this is really helpful for
you. I just finished sending out all
my deposits, and if you think it is nerve-
wracking in that short period of time between when you
actually send everything so you can see everything has
been sent, the Bitcoin, Ethereum, and Litecoin and currently if
you actually look at my wallet, nothing has happened yet, so, of course, it is nerve-
wracking in this phase where your money essentially is
between places where you can have it. My money is kind of out on the
internet somewhere in the blockchain and I have got
nothing in here.
So far we have got 00.03.50
On the Bitcoin one, 00.02.28 On the Ethereum, and 00.01.36 On the Litecoin. Currently, there is no action
on anything yet, all of them have been sent on
Coinbase's side and they are all pending, so there is no action on any of
them in the first couple minutes. Of course, it is quite normal if
you are sending out for it to take a little bit and you can see
there is not even a pending deposit yet. I will show you the time frames
on each of these as well so that you can get comfortable if
you are new to this, or even if you've sent
hundreds of transactions or like I have thousands of
transactions, like maybe I've done in the
future, maybe there can be a little
more comfort with how long this whole process takes.
Now, naturally, the exact
wallet you use, the exact state of the
blockchain, all of these things can make a
big difference, so there is no hurry, essentially, in terms of this being an
absolute result. This is on May 23rd, 2017 so conditions could
change. I hope this is useful though for
providing a look at how fast all these are. Now, wait until I have got some
pending deposit activity and I.
Will check back in with you. For the pending deposit, Ethereum and Litecoin both
win. I believe Litecoin came in a
fraction of a minute sooner, maybe 10 to 30 seconds
sooner than Ethereum, but both the Litecoin and the
Ethereum came in nearly instantly. Right now, I have pending deposits here
on Bittrex for both Ethereum and Litecoin, I've got nothing available
currently for Bitcoin, it's been 8 minutes since I
sent the Bitcoin transaction, I hope the blockchain's not
backed up by 10 hours or I'll be doing this video for a while.
So far seven minutes since
the Ethereum one and so far six minutes since the Litecoin, both the Litecoin and the
Ethereum are competing to be the first approved deposit
here, I'll let you know which deposit
actually goes through first. Bottom line, you probably want to use
Ethereum or Litecoin if you're buying on Coinbase to send
your transactions over to another exchange because
bitcoin is significantly slower and that's one of the things
that's providing the value of Ethereum and Litecoin. Whatever Coinbase decides
to add, is the ability to have these
faster transactions. You can see even though the
Bitcoin is several minutes ahead of the other two, there's not even a pending
deposit yet on the Bitcoin, I'll keep you updated here and
show you which one actually confirms the fastest along with
showing when the Bitcoin actually arrives.
This is going to be such a
close race, I'm so excited to see who wins
between Litecoin and Ethereum. Litecoin and Ethereum
currently are in a dead heat right now, 2/6 confirmations for Litecoin, 25/36 for Ethereum. Still, nothing on the Bitcoin deposit
at 14 minutes and we got 12 minutes on Ethereum and just
over 12 minutes also on Litecoin. These two are very close right
now, I literally am refreshing the
page to see which one wins and I'm excited to share with
you who the winner is.
I am very excited to announce
Ethereum is the winner, Ethereum came in remarkably
fast. My Ethereum is now
available, my Litecoin is still pending
deposit even though the Litecoin deposit time has just
passed the Ethereum deposit time, it took a total of 13 minutes
from the moment I hit send on Coinbase until the moment my
Ethereum was available in Bittrex. That is currently the fastest
way I see to send money online, with Ethereum, and part of the reason for that
is Ethereum block stats is moving so rapidly, it's pushing transactions
through at an amazing rate even in the middle of this
spike. The current winner is
Ethereum, I am now planning based on
the results here to use Ethereum to fund my deposits
on Bittrex because this will give me the very fastest
deposit.
Now, Litecoin is not far behind right
now, Litecoin currently has two out
of six confirmations, Litecoin is still making good
progress, however, Bitcoin is not even showing a
pending deposit yet. Bitcoin is 17 minutes in, there's not even a pending
deposit on Bitcoin, let alone a confirmation. Meanwhile 4 minutes faster
than, Bitcoin is not even shown up
yet, Ethereum is finished. The winner of this speed test
is Ethereum, I will be buying and
transacting primarily now in Ethereum out of Coinbase.
I take my US dollars into
Ethereum and then I put my Ethereum on Bittrex, then I can buy the one
currency I'm excited the very most about and then send that
out to my wallet. I'll show you from here how
fast Litecoin comes in and I. Hope I don't have to wait all
day to finish this up with the Bitcoin part. I am very pleased to announce
that Litecoin has come in at a clear second place, Litecoin currently it has my
available balance.
The Litecoin took 17 minutes
from the time I sent the transaction until the time when
the deposit was actually available. No more pending deposit, the Litecoin balance is
available in my account. Now, the Bitcoin pending deposit
still has not arrived yet, I already sold my Ethereum
into Bitcoin so that I can buy other currency I'm really
excited about. Then, these are the numbers
so far, you have Ethereum four minutes faster to make the
deposit.
Now, the main way Ethereum
was faster is that it got the necessary confirmations faster
than Litecoin. Ethereum needed 26
confirmations to go through, Litecoin needed six, Ethereum got the 26
confirmations faster than Litecoin got the six. I will be using-- if something
happens with the Ethereum network, Litecoin will be my second
choice currently to make deposits. I am not planning to make any
more Bitcoin transactions except is needed to buy and
sell because it's so much slower to use Bitcoin.
As you can see these sends, I actually sent
the Bitcoin first, it's been 21 minutes now. The Ethereum completed
eight minutes ago and the transaction for Litecoin
completed a few minutes ago. Still nothing on the Bitcoin. How long do you think it's
going to take for the Bitcoin to go all the way through? My prediction is
an hour and a half, we'll see how long it takes.
As my dad would say, "Wrong again boy, wrong again." The Bitcoin only took 23
minutes to confirm and Bitcoin skipped, it didn't go into a pending
deposit at all, it went straight through as
soon as it hit, it went in and deposited. You can see the order right
here, Ethereum one, Litecoin came in second just a
very short time behind Ethereum, then Bitcoin came in at the
slowest. Bitcoin took 23 minutes from
the time of send to be available to use, Ethereum only took 13, that means 10 minutes faster
to use Ethereum, meanwhile Litecoin came in
the middle, five minutes faster than using
bitcoin, about four minutes slower
than using Ethereum, three and a half minutes
slower if you want to do a little Thank you very much for
watching this, I'm really excited to have
shared this with you, would you please leave a like
if you enjoyed this if you found this helpful. If you'd like me to test out
something different, for example, if you'd like me to do this same
experiment on Poloniex where I've heard Ethereum goes
really slow on Poloniex, I have not verified for myself, it worked last time I used it.
If you'd like me to repeat this
on another exchange like Bitfinex or if you'd like me to
repeat it on Poloniex, please tell me that. If you would like to get
yourself a Coinbase wallet, Coinbase is the main wallet I
use to buy my US dollars into now Ethereum, Bitcoin, and
Litecoin. This is where I've done most
all of my transactions from U.S. Dollars into another currency if
you'd like to get $10 in Bitcoin would you please use my link
at www.Jerrybanfield.Com/resour
ces.
If you click on it and load up a
$100 worth of Bitcoin or another currency in your own
wallet, Coinbase will give me and you
each $10 in Bitcoin. I'm grateful over 140 people
have already done that since I. Started using Coinbase and
sharing that I was using it. If you would like to see exactly
which cryptocurrency I'm going to buy, I'm using all this to buy a
cryptocurrency that I'm really excited about.
If you would like to see which
one that is and be one of the first people in the world to see
it and buy it before I start pumping it all over the place on
my youtube channel and everywhere and start
advertising it. If you'd like to see which
currency it is would you please buy my course on the
University of Jerrybanfield.Com, it's called the number one
crypto investment opportunity May 21, 2017, and the cost is $180 unless if
you subscribe, but you can get access every
month to all my courses for $27, you can get all the courses I
teach for the rest of my life for $297. I currently have about 100
video courses, 13 or so of them are up on the
website, I'm putting new ones up every
day. I'm hoping to have a thousand
plus courses done over my entire life.
I'm honored you've spent this
time here with me, I love you, I think you're amazing for
hanging out with me and giving me this opportunity today. I'll review the results with you
one more time here, bitcoin 22 minutes 52 seconds
for the transaction, Ethereum 13 minutes 29
seconds as the winner, and then Litecoin 17 minutes
and 12 seconds at second place. Thank you, I love you hope you have a
wonderful day and I'll hope to see you again soon..
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