The First Post...

Firstly… Hi… and welcome to the first post of this new, for me, blog.

The title of this blog has possibly given you a clue as to what its about but if not, in short, I am the worst sort of person to be investing in anything.

I currently have a very small amount of money to ‘play’ with. When I say small I mean a few hundred. Well ok I could stretch to £500 so thats where i’m starting from. However my financial position means i'm going against everything the experts tell you to do. I’ll provide more in due course so keep checking back.

I’ve been interested in Bitcoin for quite a while but no money has not helped my investment journey but a few hundred has come my way so i’m giving it a VERY speculative go. I’ve heard all the hype and ignored all the get-rich-quick scams on farceberk and the like as you should also but I have done some research and some of the websites I turned to are listed below but by no means all of them so you need to give this bit quite a lot of time and attention as I have.

So putting all the research to, hopefully, good use I have today opened a Coinbase account.

Incidentally if you use these Coinbase links to open an account we both get a $10/£7 bonus when you’ve bought or sold $100 (£72) of digital currency. (So thats a win win for us both)

Being in the UK this was an interesting experience which involves linking your phone and bank account (cheapest option on fees). I have a sort of spare and rarely used current account with HSBC and I used the online banking app to do a transfer of 200 euro which works out to £185.16 at todays exchange rate and there is a £4 fee imposed by the bank as this is an international payment… to Estonia (Shock Horror !).

Now I know what your thinking. What about all the alarm bells ?

Yes I agree, money I can’t afford to lose with me being unemployed, a company (Coinbase) that I had never heard of until recently and has not had the greatest press due to delays in its service etc, payment to Estonia (where the hell is estonia anyway ?) and this new style cryptocurrenty with all the experts warning the bubble is due to burst at any moment, I know nothing about investing etc etc etc (Oh My God !)…. but sometimes you just have to throw caution to the wind.

So, as I write this on 13th January 2018, I have made the payment above and the HSBC website tells me it could take 2 days for the transfer to take place. Coinbase website says I will get an email when this has happened so i’m waiting impatiently for this to happen.

Having looked at the charts on Coinbase i’m interested in 3 cryptocurrencies at this point. Bitcoin, Ethereum and Litecoin. As the charts stand Ethereum is on a high so I will wait until a fall to buy but Bitcoin and Litecoin are at a low (relatively) so I will probably buy those when the money is available in my Coinbase account. I intend to buy £100 of each to start with and see what happens. Obviously all this is subject to change. The volatility of cryptos is not lost on me. So I will report back as things happen….

A few points of research :-

http://www.bbc.co.uk/programmes/b01s0qnk

https://blog.moneysavingexpert.com/2017/11/30/invest-bitcoin-four-things-need-know/?_ga=2.13484087.1684192244.1513183055-519748436.1512207861

http://bittybot.co/uk/

https://en.wikipedia.org/wiki/Blockchain

http://www.bbc.co.uk/programmes/b0952svj

https://noviceinvestorblog354019743.wordpress.com/

Sign up for future updates….

And if you use these Coinbase links to open an account we both get a $10/£7 bonus when you’ve bought or sold $100 (£72) of digital currency. (So thats a win win for us both).

Current Status of my Investment :-

Bitcoin = £0.00
Ethereum = £0.00
Litecoin = £0.00

Total Value of investment = -£189.16p

13/01/18 - £185.16p transferred from bank account to Coinbase account + Bank Charges of £4