Podcast: Getting rich from $200, my year in crypto (Week 12/52)

An imaginary Bitcoin on a virtual microchip board

The much-publicised November 2020 rocketing of Bitcoin (and other) cryptocurrencies means my $200 is now worth $325; that’s a +62.5% profit in three months.

That’s a phenomenal return in By anyone’s book, it’s a phenomenal return. What I’ve done now is fallen into the classic trader’s trap – taking $80 of my ‘profit’ and reinvesting it in more cryptocurrency. This time I’ve gone for fledging currencies that may, or most likely may not, make it. I chose them all after reading upon them, and my money bought me:

  • 300 Cardano (ADA) – Good tech, enthusiastic crowd.
  • 500 Tron (TRX) – Personal interest in entertainment (not very investor savvy move by me though!).
  • 54,713 BitTorrent (BTT) – Insanely cheap. Those coins cost me $20. It feels like a fun gamble.

The good news is I’m already +10% up on these as they ride the Bitcoin wave.

As you can see, my methods are not exactly scientific; I am learning as I go along and using small amounts I can afford to lose. Industry expert Jeff Hancock offers more professional advice to newcomers on how to invest in cryptocurrency in my latest podcast.

Jeff Hancock from coinpass on how to get into cryptocurrencies

I’m in for the long haul, but how am I doing? Read the latest here.

Podcast: Getting rich from $200, my year in crypto (Week 9/52)

Ethereum coin

My first quarter has ended with me up 20% on my investment – without me doing anything!

I’m into the black, looking at cryptocurrency as an investment. But surely its future needs to be more nuanced if it is to survive? I speak to industry expert Jeff Hancock about how money has changed, and how the next step may be crytpo.

Jeff Hancock from coinpass on why we’re one step away from a cryptocurrency future

I’m in for the long haul, but how am I doing? Read the latest here.

Podcast: Getting rich from $200, my year in crypto (Week 6/52)

A photo of various phases of the moon

Paypal gave me a 15% upswing in fortunes after announcing it will allow people to buy and sell cryptocurrencies.

I’m finally out of the red and into the black on the back of this news. Interested in crypto? My podcast below is an introduction to the cryptocurrency exchange I am using for my experiment.

Jeff Hancock from coinpass on cryptocurrency exchanges

I’m in for the long haul, but how am I doing? Read the latest here.

Getting rich from $200; my year in crypto (Week 1/52)

An imagined Bitcoin on a table

I’m spending a year of my time and money to see what all the cryptocurrency fuss is all about.

Some crypto traders promise to make you $1,000 in a week, $5,000 or more, if only you send them your hard-earned cash right now.

Follow me as I try to make money and understand the volatile world of cryptocurrency. Here’s my introductory blog on why I’ve decided to take the plunge (link opens in new window).