Monthly Investment/Gambling by Ross: Ethereum and Coinbase - The first £100

rossjstanley (27)in #etherium • 7 years ago (edited)

Introduction

It's 2017, capitalism has won- a few hundred thousand pounds in a bank account could earn as much money in a year as I do. In light of this there is only one solution- get enough money and let that do the earning for me then retire. Now all that left is to get that money and that where this blog comes in- using money to make money, or more accuratley "Gambling" (if that puts you off go with "Investing", I don't think theres much difference).
Rules

1)Each month I gamble around £100 in a different way, this may be a direct bet of some kind or a long term investment. It just has to be different and with luck interesting.
2)I post a report here. (A play along at home guide if you will).
3)For investments I can only withdraw the initial stake (i.e. £100) within the first year.
4)Spreadsheets and graphs are made to track my effort and work. This is where the fun really happen.

Month 1

So they* say the future of money is in Cryptocurrencies- there's loads about them online so I'm not going to bother writing much here. There's plenty of choice- Bitcoin is currently the biggest (I've already got a little of this which I might add into the spreadsheets if you're lucky) but Ethereum is hot on its heels and seems to be on the way up so it's what I'm going for today.

One of the simplest ways to buy Ethereum is on coinbase.com my referal link if you want to give it a go coinbase link. You can store you Ethereum there, pay with creditcard (£3.99 fee for me on top of the £100 of currency) and get a little freaked out when they ask for a photo of your passport. There are probably cheaper and better alternatives but as one of the bigger providers they're probably a little less likely to run off with all my money- they take enough in the fee.

So when I bought the Ethereum (June 10th 2017) 100GBP bought 0.432ETH, as shown below.