Hello All!
This is my First Post in my Journey of Investing into CryptoCurrency.
Reading all this stuff about Bitcoin, Ehtereum, Crypto Currency etc has just made me more curious and curious especially as I am from a Digital Background!
Anyway.. Few Weeks ago I knew absolutely nothing much about Bitcoin (Apart from the Fact that its some big thing everyone is talking about and how someone sold a pizza for 10,000 bit coins many years ago and now its worth around £5.1 million! So I thought to myself why not lets see what the fuss is all about...
Ethereum...got introduced to this recently and people are saying it could be the next bit coin 2.0 perhaps?
Anyway my goals are to own atlest 1 BIT COIN
and also play around with Ethereum
So i shall be using this blog to document what I have done so those of you who wish to follow or take part and invest yourselves can see how i have decided to approach it. Maybe the right way or maybe the wrong way but i plan to learn along the way!
Firstly I have been hooked onto this forum
https://bitcointalk.org/index.php?board=67.0
Wealth of Information there talking about Cryptocurrency some EXTREMELY good information on there and worth a read
Anyway this is what I have done so far
1) Created a new account with www.Coinbase.com, there I plan to Purchase Bitcoins
Signup process is simple quite a lot of verification and personal information is required but its all good for security reason I have also downloaded the Coinbase Wallet app on my phone but it seems buggy for now so I have just resorted to the Website for now
Each time you sign on to the Website is has 2 Factor authentication meaning it will send you an SMS message each time you wish to login and you need to enter the verification code sent by SMS to to access the site. It also give you an On-line Wallet which you can store your Bitcoins too which generates an address - This address is required in order for you to receive bitcoints to your wallet and stores it!
2) 1 BTC today was £288.30 - I decided to invest £20 towards the bit coin which i shall be building up slowly and slowly .. coinbase charged a .40p Fees so my currently balance at the moment shows up as
0.06790685 BTC ≈ 19.60 GBP
So hopefully intend to build up and add funds towards the goal of one bitcoin. Will wait around for a day or so to check the price till it goes down a bit before purchasing some more
3) I am looking at Ethereum at the same time
So far i have signed up to the following site
www.kraken.com - signed up Saturday night had to send over so many documents I am still not authorised yet so will have to wait
www.coingate.com - Same as above but got verified within 24 hours, however in order to purchase ETH I need to Bank Transfer a deposit to an International Bank account - which honestly has put me off a bit as they were based in Hong Kong, not so much the trust issue as they seem a legit and big company but the hassle of everything and how much would ACTUALLY be deposited once currency has been converted. So this was a put off
https://bittylicious.com/ - These guys seems ideal as they are UK based and allows me to purchase ETH via UK Debit/Bank Transfer which was ideal because i could pay in Pounds
Today ETH Rate on bittlicious was
Bank transfer £7.2877/ETH
Credit/debit card £7.6926/ETH
Considering yesterday the price was around £8.60 today it took a hit so i am going to wait a few days hoping it drops down then i plan to purchase probably around 5 ETH to start off with
I am convinced that ETH will become quite big, how big i would not say something to retire off with but I think we could profit on this a bit enough to be happy about, so i shall refer to this Post later down my journey!
The next thing to store ETH is finding an On-line Wallet
I went to the official ETH Site for their Wallet https://github.com/ethereum/mist/releases/
However i could not find a version for windows 32bit for some strange reason! for Version 0.5.1 so i'll check back in a few days
I did find https://www.myetherwallet.com/ which seems interesting so i shall give it a go in a few days time or so
Let see how this goes!
This is my First Post in my Journey of Investing into CryptoCurrency.
Reading all this stuff about Bitcoin, Ehtereum, Crypto Currency etc has just made me more curious and curious especially as I am from a Digital Background!
Anyway.. Few Weeks ago I knew absolutely nothing much about Bitcoin (Apart from the Fact that its some big thing everyone is talking about and how someone sold a pizza for 10,000 bit coins many years ago and now its worth around £5.1 million! So I thought to myself why not lets see what the fuss is all about...
Ethereum...got introduced to this recently and people are saying it could be the next bit coin 2.0 perhaps?
Anyway my goals are to own atlest 1 BIT COIN
and also play around with Ethereum
So i shall be using this blog to document what I have done so those of you who wish to follow or take part and invest yourselves can see how i have decided to approach it. Maybe the right way or maybe the wrong way but i plan to learn along the way!
Firstly I have been hooked onto this forum
https://bitcointalk.org/index.php?board=67.0
Wealth of Information there talking about Cryptocurrency some EXTREMELY good information on there and worth a read
Anyway this is what I have done so far
1) Created a new account with www.Coinbase.com, there I plan to Purchase Bitcoins
Signup process is simple quite a lot of verification and personal information is required but its all good for security reason I have also downloaded the Coinbase Wallet app on my phone but it seems buggy for now so I have just resorted to the Website for now
Each time you sign on to the Website is has 2 Factor authentication meaning it will send you an SMS message each time you wish to login and you need to enter the verification code sent by SMS to to access the site. It also give you an On-line Wallet which you can store your Bitcoins too which generates an address - This address is required in order for you to receive bitcoints to your wallet and stores it!
2) 1 BTC today was £288.30 - I decided to invest £20 towards the bit coin which i shall be building up slowly and slowly .. coinbase charged a .40p Fees so my currently balance at the moment shows up as
0.06790685 BTC ≈ 19.60 GBP
So hopefully intend to build up and add funds towards the goal of one bitcoin. Will wait around for a day or so to check the price till it goes down a bit before purchasing some more
3) I am looking at Ethereum at the same time
So far i have signed up to the following site
www.kraken.com - signed up Saturday night had to send over so many documents I am still not authorised yet so will have to wait
www.coingate.com - Same as above but got verified within 24 hours, however in order to purchase ETH I need to Bank Transfer a deposit to an International Bank account - which honestly has put me off a bit as they were based in Hong Kong, not so much the trust issue as they seem a legit and big company but the hassle of everything and how much would ACTUALLY be deposited once currency has been converted. So this was a put off
https://bittylicious.com/ - These guys seems ideal as they are UK based and allows me to purchase ETH via UK Debit/Bank Transfer which was ideal because i could pay in Pounds
Today ETH Rate on bittlicious was
Bank transfer £7.2877/ETH
Credit/debit card £7.6926/ETH
Considering yesterday the price was around £8.60 today it took a hit so i am going to wait a few days hoping it drops down then i plan to purchase probably around 5 ETH to start off with
I am convinced that ETH will become quite big, how big i would not say something to retire off with but I think we could profit on this a bit enough to be happy about, so i shall refer to this Post later down my journey!
The next thing to store ETH is finding an On-line Wallet
I went to the official ETH Site for their Wallet https://github.com/ethereum/mist/releases/
However i could not find a version for windows 32bit for some strange reason! for Version 0.5.1 so i'll check back in a few days
I did find https://www.myetherwallet.com/ which seems interesting so i shall give it a go in a few days time or so
Let see how this goes!
No comments:
Post a Comment