Welcome to my blog. Follow me as I embark on my journey into the world of crypto to discover if i can achieve my goal of financial independance.

Let me introduce myself. My name is John and I am 50 years old from the United Kingdom. I have a very addictive personality. If i find a game I like, a hobby or project then I tend to immerse myself in it 100%. So i will be spending a lot of time on this journey.

I have seen crypto everywhere and read the stories of people making their fortunes, can I achieve this? Who knows, but I can dream.

I started my journey by doing a lot of research, a lot of google searches trying to discover everything I could before I jumped in. I have looked at bitcoin and honestly, I think I have missed the boat on this, the price is already at $60k at the time of writing, even if this rises to $200k in the next couple of years as some are forecasting that is only a little over 3x gains on investment. I have therefore decided that there is more potential in altcoins and  this will be where my main focus lies.

I aim to diversify investments to build my portfolio. Different companies, different strategies. I do not want all my eggs in one basket. 

I need somewhere to store my coins so my journey starts with a search for a walllet. The hardware wallets look like something that may be a good idea but for now a desktop wallet will have to suffice, I do not wish to spend on a hardware wallet just yet. The first wallet I looked at is Coinbase, this seems to be popular for beginners. I have signed up and submitted my id for verification but it has been a couple of weeks now and my wallet is still not verified and i can not do anything with it, so after further research I have decided on Atomic wallet. The idea of being able to stake coins within the wallet and exchange currencies appealed to me.

Next I looked for an exchange. Coinbase pro was out as I could not get my verification on my Coinbase account so I have decided to go with Binance. Seems well established and popular and has earning options other than trading. I am not ready to get into the trading scene just yet so this is appealing. Verification went through fast without an problems, I was very impressed.

I have decided to make my first investments in Binance. There are what looks like some good staking investments in DOT at 37.7% APY for 15 days locked in and KSM at 37.49% APY for 15 days locked in. I deposited 50 GBP ($68) and bought 0.08 KSM and 0.691 DOT and have staked these for the 15 days. I understand the risk that the coin may fall in price while I have it locked up, but it my also rise. If it falls hopefully the stake rewards will offset the loss. 

Thankyou for reading, follow to read my next instalment to discover the first mistakes I made. Can I recover?