I had a chance to interview my friend Iman Shafiei CEO of Keystone Investor’s Club again recently after reviewing Keystone Investor’s Club for myself.
I found its a fantastic program for anyone looking to get started investing, making money online, or trading cryptocurrency.
Transcript Of Keystone Investor’s Club Review With Iman Shafiei
Chris: Iman, how’s it going buddy?
Iman: Nice to be back here for the third time!
Chris: Why don’t you tell us a little bit about yourself, your story, and your back story?Iman: Sure. Since the last time I was on this podcast we really grew our Financial education company. Where it all started was freelancing with sites like Legiit. That was the best place to start for someone without much exposure or money to throw into the business. It was pretty easy to get started. It’s where I started my career. I started freelancing because I needed money and we grew our team to 19 people and over 30 interns. That was the first business that I grew. I took a second and wanted to see where I wanted to be in the next 5 to 10 years and I really liked crypto so that’s where I’ve been over the last few years.
Chris: Excellent. Let’s go a little further back than that though. Tell us about the car wash story?
Iman: Oh man, right after highschool I wanted to be an entrepreneur and learn how to talk to people because I was a socially awkward person, so I got a job working for 100% commission by selling car wax at gas stations. So when people would fill up their cars with gas, I would have a minute and a half to sell them a can of wax. I was 17 or 18 at the time, did that for a couple of months. That’s why I am where I am today, it’s because I threw myself into positions that would force me to accelerate and grow really fast.
Chris: How old are you now?
Chris: I think you were like 19 when I first met you.
Iman: Underage in the US not Canada lol.
Chris: You mentioned that you were freelancing and that you had a big team. Do you have any advice on building a team and systems?
Iman: Yeah. Building a team can be applied across all kinds of business. For example, I’m in the middle of building my team right now for my financial education company. It all starts by growing your company as much as you can until you see holes pop up. You fill in that hole with bringing on new people without adding too many.
Chris: How do you identify good people?
Iman: I’ve been learning a lot more about that over time. If it’s a company that you want to last, you have to look for people who have the same vision. That’s a bit weird but it’s true because if someone new comes along and offers your guys 2 dollars more per hour and if they don’t share your vision, they’re going to jump ship. It has to be more than the money. There are two types of teams you can build, one is a long term company and the other is just to get the job done.
Chris: Where do you go about finding people, is it just Legiit or where do you go?
Iman: For certain jobs I go to Legiit but if it’s a longer term, I usually go to Upwork or recommendations.
Chris: We have a question here: Arick Gallagher: I’m looking to become a silver platter Crypto picks newsletter and do you still offer the crypto bot to trade and all so since I’m in North Dakota in the United States can I still trade on the same?
Iman: the silver platter crypto picks is what we’re focusing on now, we rebranded it and focused on new members. The bitcoin event is coming up so I recommend checking that out!
Chris: That’s May 7th-14th 2020
Iman: Regarding the crypto trading bot, that’s a software I created over the last couple years, I’ve really been reinvesting into the business and students by getting better resources, tools, and softwares. We have students and members from all over the world.
Chris: I know you’ve done a lot in your internet marketing career, what made you settle on finance and crypto?
Iman: That’s a good question. I asked myself, “What do I want to be doing over the next 5-10 years?”, I was going through the same phase that Becker was, I didn’t want to keep teaching people on how to create an online business because I didn’t feel like I could become the best at that. Even when all odds were against me.
Chris: What do you mean?
Iman: Banks don’t trust crypto, I can’t really advertise my stuff, there’s a lot on the back end with this kind of education business, it’s way different and swimming upstream in terms of building a business. I remember you, Chris as well, were like “its a bad idea”.
Chris: You got into it right at its peak right?
Iman: Yeah I got in right after the tank.
Chris: You stuck with it even when it sucked at times. How did you get through it all when things were getting shut down and it was really tough?
Iman: It’s definitely the vision. It really helped me grow this company. During my freelancing time, I wasn’t really starving.
Chris: For me, the long term vision of Legiit is to be the Amazon of freelancing services, that’s the big picture I have. What’s the big picture for you?
Iman: Yeah the big thing is being the trusted spot for students to come and learn how to get started in the crypto space. Most of our students are 45 or 55 plus in age and don’t have a reliable spot to get started with this. I want to be that go-to place.
Chris: When you say ‘crypto space’ what do you mean?
Iman: Trading, buying, because it is a high risk asset class as they say so we want to make sure people are within their boundaries.
Chris: We have a question:
Watching you from hospital, my son broke his leg today ?. I lost my Trezor, it had about £1k worth of alt coins on there. They are only worth about £50 now tho. Chris, are you involved in crypto?
Chris: No not really, I watched Iman’s material and put 100 dollars into crypto once. It’s just not my thing. I feel like it’s something you have to be invested in to do well with and I don’t have any more clubs in my bag that I can use right now. At some point I may just drop a small amount into it and see what happens.
Iman: That’s a good point. That’s the whole point of crypto, you don’t need to put in a lot of time or effort, in fact I don’t recommend that you do. It’s the type of thing where I don’t recommend you put in 100 to 500 dollars. It’s more of a passive thing that we get at.
Chris: If it’s a passive thing where does the skill come in?
Iman: It depends on what you want to do. I was trying to teach the skill of trading but you don’t need that skill for crypto. It’s not even a skill really to get into crypto. We have something called the Round Table where we teach the scale of trading. Talking about trading scares a lot of people off.
Chris: We have another question:
Jayde Ash Has it been tough for you guys to hire people “smarter” than yourselves to help grow..Chris kinda talked about it recently on another water cooler talk
Chris: I’ve been fortunate in that way that I’ve attracted people with those skill sets that I don’t have. As far as hiring, you have to know what you’re not good at and find someone who is.
Iman: Yeah, sometimes it’s definitely not easy because you have to jump through hoops. I flew halfway through the country to meet someone to potentially have them work with me to get something done.
Chris: You’ve always been very good with that.
Iman: I’ve always kept a code to myself that there could always be someone who can put on more webinars or have a bigger marketing list but in this space of just marketing online is all you have is your word and that’s what I’ve stayed true to. That’s how I attracted these higher end people.
Chris: Is regulation a big problem with crypto right now? How does that work?
Iman: I wouldn’t say it’s monopoly money because there are coins that are being used right now. There are coins currently being used inside of the healthcare industry, so you can’t really say that it’s a monopoly money. I would say that 90% of coins right now are garbage but the ones that actually have a use case are worth it. Crypto currency can work inside different spaces like the gaming industry so it’s not necessarily finance.
Chris: Do you predict a lot of coins going away, or a standard one or two? How does that work?
Iman: That’s a great question. I talk about that on the webinar and video report I created. Right now there are big companies and banks being involved with crypto but not telling you much about it like Bank of America, but they have over 84 crypto currency patents. They’re guiding the public in another direction than where they’re heading. Same thing with JP Morgan. They said that they’ll fire any traders that trade bitcoin but behind their backs, they’re trading bitcoin. There’s something going on there for sure.
Chris: We have another question here:
Craig: Question for you both – Do you think it was worth the investment to go to Alex’s mastermind? And do you still follow him or look to him as a mentor?
Iman: For me, definitely he’s the one that got me started in all of this. I think the fact that I went to his mastermind, I learned about who he was, that was crazy. When you find a really successful person, you don’t look at what he was saying but how he was saying things and who he was.
Chris: I would echo that. It was a big turning point for me. It was a worthwhile investment. He gave me some things to focus on. He’s much different in real life than on social media, he’s more reserved and introverted I would say when he’s not presenting.
Jayde Ash: Not saying it’s not a currency…it’s just not commonplace everywhere. Not knocking it.
Iman: That’s the main issue right now with bitcoin, it’s not really being used everywhere but those are the projects I’m looking out for. You always want to look at stuff that has the highest chance of being used or built on the blockchain but being used on the backend. In that sense, it’s already being used, but in terms of the currency, it hasn’t been used. What I have started seeing online right now with the FTC, they’re thinking of creating their own US dollar on the blockchain. I do see us using crypto as a regulated currency.
Chris: I was actually going to ask you about that, I’ve seen a few people say that it’s a good place to store money.
Iman: Yeah it’s a store of currency. If you were to buy some gold and silver, you do the same with bitcoin the way it is now but talk to your financial advisor as it is a high risk asset. The whole point of crypto currency is created by the people for the people so it’s de-centralized.
Chris: They sound like whitehat SEO’s to me. They think they’re fighting the man by getting into crypto.
Iman: There are some pretty big whitehat and crypto guys that still believe that.
Chris: What is blockchain and what is crypto?
Iman: Blockchain is the system that’s created, it means there’s one point of attack. They refer to a more secure system than what we have. The internet is built on a very unstable centralized network so it’s not safe the way the internet is built. If we move it from centralized to blockchain, we won’t notice it but the security and privacy is there. It’s a more evolved version.
Chris: We have another question here:
Security and insurance would need to improve in crypto before the average person could use it. If you get scammed with real money the bank will get your money back, with crypto it’s gone.
Chris: Another Question: Iman do you use bitcoin only or do you use other currencies?
Iman: I invested in a handful. When we’re talking about crypto currency we’re talking about digital cash but right now it’s not on the blockchain, it’s going to be moved there to be more secure and regulated. We’re already using digital money. All money is pretty much digital.
Question: Didn’t they say that Tether is going to be removed? How could that affect the market?
Iman: Tether was something that was backed by the US dollar and I haven’t heard about it being removed but there are plenty of other alternatives. These coins that are backed by the dollar, they have been verified and have legal documents by the bank.
Question: Iman, can you explain about Rank and Rent Mastery?
Iman: That was the first internet thing I did to make money, it was the first course I made, it’s old.
Question: Isn’t XRP like in the middle of centralized and decentralized or something?
Iman: Yeah, they want to give it to the banks to use, there needs to be some centralization with it. If the banks start using it, the people will start using it and then blockchain will evolve.
Question: Who do you think invented btc (bitcoin)?
Iman: Oh man, I think I know but that’s all I’ll say.
Chris: What benefits are there for a vendor to accept bitcoin? What risks?
Iman: The main risk that I see right now is that it’s so volatile, the only thing that you accept for example, like 100 bucks, that 100 bucks is so volatile, it might go down to 20 dollars, it may go up to 200 dollars, it’s difficult to maintain. The benefits on the other side, it’s had an upward trend line every year. It ended higher than it did the previous year.
Chris: It seems like it would be easier to do international business with crypto, right?
Iman: Yeah, that’s the blockchain. So what you could do is create a Legiit coin, only to be used – not on the market – but for your own internal use – and have it bank out in another way. That’s the one world currency. I think that over the next 10 years we’ll see a lot of that. China is starting to do that right now. The US dollar is already there just not on blockchain.
Question: Chris would you consider having a mastermind like Alex had?
Question: How do you choose the coins to invest in?
Iman: The main thing I would look at is if the coin is actually being used. The only coins that are being used by the intended market are the coins that go up in value.
Chris: There’s a social network that worked on it’s own crypto, it’s how you got cooler features, it was a cool concept.
Iman: Brave is a browser that’s on the blockchain right now so it’s more secure and private, like Tor, but Tor is being used by volunteers. If you had a nightclub and you had to put someone at the door to let people in for security, what Tor does is bring a volunteer to stay at the door. What Brave does is a paid user at the door. There are already projects out there that are being used and they have their own advertising networks.
Question: What if you converted it on a regular basis to minimize risk of volatility?
Iman: If you did that it would be a good idea or you could put it into Tether, you still don’t have to cash it out cause it’s backed by the USD. That’s what I did when bitcoin went up.
Question: Doesn’t the creator have like 1 billion bitcoin? What would happen if he started using them?
Iman: There is only a certain number of bitcoin that can be used, it’s like 21 million, it’s going to hit that cap in the year 2100. China is the biggest keeper of bitcoin.
Chris: For a while there everyone just talked about it a lot and claimed to be experts about it and everyone thought legiit was going to be crypto.
Question: Are all currencies on the blockchain?
Iman: Yes, some are created on the ethereum blockchain but technically it ‘s all on the blockchain.
Question: How do you know if the coins are being used?
Iman: You do the research. Based on research on what’s being used, who is using it and the intended audience.
Question: What trading platform do you recommend a beginner?
Iman: Depending on where you’re located, you need to sign up for an exchange twice, bitcoin and finance are best.
Question: Can anyone mine bitcoin on their own computer?
Iman: Yes they can, although you’ll spend more on electricity than on getting back with bitcoin. I know someone in Canada that put in million dollars into warehouses and is mining for bitcoin where the math added up. I don’t like mining to make money.
Chris: I didn’t realize it cost that much in firepower to make it work?
Iman: Yeah it’s huge, like racks on racks on racks of computer hardware that needs to be updated every 2 years, it’s nuts.
Question: How many different block chains are there?
Chris: I think he means crypto’s?
Iman: Yeah there’s a lot of crypto currencies out there, something like 3,300 but most of them are pretty crap.
Chris: What makes them crap?
Iman: the crap comes from 3 things, what problem does it solve, most coins don’t solve any problems, that’s what happened in the first wave of crypto. The second is the founders behind the coin, it can’t be someone who doesn’t have experience.
Chris: Doesn’t Facebook have one?
Iman: Yeah they canceled that one. I think what they’re going to do is partner up with someone and launch a country wide currency.
Question: Sorry I meant, doesn’t the creator have 1 million bitcoin? Why doesn’t the creator just say who they are? Do you think they will ever reveal themselves?
Iman: I think it’s a group of people, not just one person. There’s a lot of things going on in the back end, I would not want to be a part of that.
Chris: A lot of CEO’s don’t have a public profile. Who knows who the CEO is, you don’t have to be a public figure. Iman: There was a random guy in Japan who thought he was the founder of bitcoin and they raided his house. There’s no way they want to be known.
Chris: Is it legal in every country?
Iman: The legality comes from if the banks allow it to happen, some banks will block you from using your debit card to buy it. It’s fine if a bank or country regulates crypto, it will only accelerate the use of it on a day to day basis. The fact that it attracts bigger money, if they want to move that money around it needs to be regulated, it helps money flood into things like this.
Question: How do you know what field a coin is in?
Iman: You just research it.
Question: If they would have like 1 million, I mean that would be worth like what $9 Billion (roughly)?
Iman: Yeah something like that.
Question: Why develop Crypto currencies in the first place?
Chris: That’s a good question.
Iman: Yeah, I mean, again, it’s just more evolved and a better version than we have right now. It’s more secure, more private so in different industries people are moving what they currently have on the blockchain. Private and secure is why people will start using it right now.
Chris: You think this is the currency of the future right?
Iman: Money, stuff, anything that we use will be going to blockchain, it’s what I believe in. It’s not the coin I believe in, but the technology potential.
Chris: You want to talk about Keystone Investors Club?
Iman: Check out our video report, we break down in a non-tech way how these big companies are putting money into the crypto space. We created the club to help people get started in the crypto space, we give more support than any other program than what’s out there. We get on 1 on 1 calls with you to help you set up your accounts.
Chris: You’ve gotten good results?
Iman: Yeah one of our picks is up 30%, our average age group is above 60 because they’re the people with the actual money, they want to protect their money and put it somewhere to let it grow.
Chris: That’s a good point, if all you care about is money you would just create and invest yourself, you wouldn’t care about students but you want to genuinely help?
Iman: Definitely, that’s why we’re always adding new support like live chat. On top of that we create our own internal softwares that we use just for our students. That’s where the 5 to 10 year vision comes into play. I want to create something that lasts. I want to get these people results and have long term relationships. We even give them introduction calls from our reps just welcoming you as soon as you sign up to show that we really care.
Question: As a new member if I sign up can I get in on the split as a new member with key stone?
Iman: The split is happening a little bit before May 20th, pretty much it’s the production of new bitcoin being cut in half. In the video report I breakdown the supply and demand, that’s why there is a storm of biblical proportions, that’s why you need to check out the video report. No one is talking about this.
Chris: I checked it out, as I’ve said, it’s not something I’m a fan of always but it’s worth watching.
Question: What are other exchanges other than Coinbase and Binance US to use if you’re from the US?
Iman: Bitrix is good, and Kraken, there’s a couple that are good. I actually went to Kraken’s office in Halifax. There’s a couple exchanges that you can use. I always recommend using multiple accounts and multiple exchanges because they limit how many people can sign up, it helps you get in on time or sell or whatever, that’s the first thing we focus on inside of Keystone.
Question: What about Europe? What’s happening there?
Iman: Actually, there are some big banks in Europe that already started with crypto and bitcoin, some banks are even trading or holding and storing bitcoin for their clients and users. They’re more open to it than we are here in the West.
Chris: In my experience, European regulation is really strict. It’s surprising to me that they’re more open about it.
Iman: Yeah, banks over there are already using it.
Question: Is there anything happening in Australia?
Iman: Yeah there are crypto exchanges taking place, there’s a lot of things happening inside of their economy as well. You can see the AUS and USD having big differences, there are some exchanges and regulations that are specific to AUS.
Chris: Tell us one last time about yourself?
Iman: Just educate yourselves before you dive in and don’t believe in the hype. The best thing that you can invest in I would say is to invest in yourself. The ROI I got by investing in myself, the growth, has been more than anything I’ve ever made from crypto or bitcoin. It’s not comparable. Go to the presentation, educate yourself on what’s going on in the crypto space.
Chris: It’s definitely worth the watch, I enjoyed it. Thank you for taking the time out to talk with us.