Yippee !
I had an email from Coinbase this afternoon telling me the 200 euro had arrived in my coinbase account. So I took the plunge and purchased 100 euro of Bitcoin and 100 euro of Litecoin. Because Coinbase take a charge of 1 euro for each of these transactions I actuall purchased 99 euro of each. With me so far and sitting comfortably ?... Good, I will continue...
So (due to prevailing exchange rates) in proper money I have purchased £88.88 of Bitcoin and £88.88 of Litecoin.
No i'm not sure I fully understand either but lets hang in there and see what happens.
Now if you look at the very bottom of this post you will find a running total of the current state of play of my account using figures from my Coinbase Account.
This is slightly confused because i've added in the bank charges for the transfer to coinbase and if someone uses the referral link to coinbase to open an account (in the right hand column of each blog page) we both recieve £7.23 credited to your Bitcoin balance (subject to conditions). I have recieved one of these referral fees which has helped my Total Balance Value.
You know who you are i'm sure so thank you :-D
You may well ask why no Ethereum ?
Coinbase provides charts for each crypto currency and whilst Bitcoin and Litecoin are on a downward trend at the moment Ethereum is at a peak so I will hold on a purchase of that at the moment to see what it does. Obviously no point in buying at the top of the market.
I'm on a course for a few days so there will likely be a corresponding gap in updates until I return but when I do I will likely make a further deposit from my bank account of 100 or 200 euro so that I have an available balance in the Coinbase account so that I can react quickly should Ethereum suddenly take a dive. After all its earning nothing in my uk bank account and bank transfers to coinbase, as I previously commented on, take a few days. Lets face it with such a volatile speculation/gamble/investment (delete as applicable) anything could happen and best to be prepared I think.
If you look at the charts for Bitcoin and Litecoin they have seen some quite spectacular peaks and troughs on there way down from the heights of December 17th-20th.
Just one niggle to report about coinbase. They do not have an app for windows phones which is a pain in the fundamental orifice. Still its a driving course so I won't be sitting there watching the bottom fall out of my world (or of course watching my fortune being made) before my very eyes.
I will also have an update about another avenue of investment which is paintings but thats another story for another page....
Until next time enjoy your own journey and don't forget to use the coinbase link on the right if you decide to have a dabble !
TTFN
The Inept Investor
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Crypto Values
Bitcoin £91.20
Litecoin £84.37
Total Current Value = £175.50
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