Blog Entry #3 - Buying/dealing with cryptocurrency PART 1

Music: College, Electric Youth - A Real Hero

Hello Steemians,

I've been dealing cryptocurrency for a month now and I've learnt a LOT. I'm by no means an expert and any advice you might have would be greatly appreciated. Below is Part 1 of my journey.

Where did I begin?

As with many great ideas, it started in a Pub. I was in business trip with my boss (Andy) and, after a long day at work we sat in the pub with frosty beer in front of us. Andy and I were talking but every now and then he'd stop mid sentence and open his phone. I didn't think much of it at first but after the 5th time I decided to ask him about it:

Me:

Me: "Work emails?"

Andy:

"No, just looking at my Coinbase account - I think Litecoin is going to shoot up."

I've heard of Bitcoin on the news but not Litecoin or Coinbase so, I asked him more about it:

Me:

"Oh, what's that then? Actually how much is it worth?" 

I asked with a grin on my face. It was then he told me about cryptocurrency in all its glory - Satoshi, Blockchain MT. Gox and all. I was captivated. I didn't know much about it then (I still don't!) but I thought I'd jump straight in. 

I started by downloading the Coinbase Application. I went through the arduous process of verification (you'll go through a lot of these!)  and bought my first Bitcoin and Litecoin (Okay, fractions of them). I was a little surprised by the fees that Coinbase charged but didn't think too much of it.

That night, I lay in bed at the hotel room and opened up Coinbase. Looking at my original balance, it increased - a little bit - but nonetheless increased. I bought something a few hours ago and it somehow - through the magic of whatever it was - increased in value. I stayed up the rest of the night looking at the graphs - up and down, up and down - reds there greens here. 

I woke up the next day and fumbled for my mobile phone. The glade made me squint. I thumbed the Coinbase App. The figure was less than what I originally put in. 

"The hell?"  I muttered. 

This was going to be my first loss of many.

 Disclaimer:

• I do not provide investment advice and I am not a qualified licensed investment advisor. I am an investor.
• All information found above should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.