How much my Bitcoin is worth NOW is on this playlist here: https://youtube.com/playlist?list=PLZfK4GUTQWxGnONg5Qk4Vun4n3U69NKae
How to buy Ethereum for beginners?
I traded £200 Ethereum directly from PayPal, using my regular personal PayPal account: just using the crypto tab. I'm buying £100 of cryptocurrency over each consecutive week...
See how much it's worth now in the link above!
Every week (if I can afford it... this is a stretch!) I buy £100 of cryptocurrency...
If Bitcoin goes DOWN from last week, then I BUY
If Bitcoin goes UP then I will buy Ethereum or other cryptocurrencies.
TRANSCRIPT: (CLICK PLAY ON THE VIDEO ABOVE)
THIS IS THE TRANSCRIPT - CLICK PLAY ON THE VIDEO ABOVE!
hello welcome back to the channel I’m Neil and this is now week eight of my ludicrously painful cryptocurrency experiment
I... I don't know if I should keep making these videos um doing them every week
let me explain what I’m doing so I am buying cryptocurrency every week 100 pounds on cryptocurrency just to see what would happen over a year
I don't know if I’m going to keep going for a year but I... I’ve started out by just buying bitcoin using only my PayPal account
I’ll probably try other platforms as the year progresses if I keep going but I just click on this crypto tab here and I just buy bitcoin OR if the price of bitcoin has gone up in the week then I’ll try one of the other 18000 cryptocurrencies out there
it's not going well
it's really not going well
I’m going to show you how much money I’ve... I’m behind by
I don't even know the right verbs to use but it feels like I’m spending money on bitcoin
that doesn't feel like the right word
people say trading but trading just makes it sound more clever than it is
I’m just throwing money into a hole
anyway up on screen now you can see my PayPal account
I could lose everything so I guess in a sense... in a universal sense I’m ahead
it's a gorgeous evening tonight I always leave this to the last possible moment on a on a Sunday to do this
let's see how much money now I’ve got so every week it’s 100 pounds which means that I have spent 714 pounds and seven pence
let's see how much that is worth right now
that 714 pounds and seven pence is now worth currently 526 pounds and 36 pence
uh I don't even want to do the maths
that's what 190 pounds behind? down? lost?
but it's okay I’m going to stick with it so I put 100 pounds into Ethereum about five or six weeks ago that is currently worth 67 pounds 88 so that's where I lost about 35 pounds right there and I’ve put about 612 pounds and six pence into bitcoin including fees
and that is currently worth 458 pounds so you can do the maths on... on that I don't even want to bother... don't want to bother doing it and I don't know if after this week I don't know whether to do these updates once a month
what is good about making a video every week is that I actually do this so actually sit down and turn the camera on and actually buy... buy the crypto but these videos are just me talking about figures and I’m not sure that many people are watching that if you ARE thank you because you're helping me keep going on this experiment so thanks for your comments and your tips
last week we had a maritime disaster right in front of me while I was doing this
I was just pretending like it wasn't happening just looking at my crypto
thankfully there's not much of that going on here although the only disaster right now is... is right in front of me on the screen
let's click on bitcoin and the rule is if the bitcoin value goes down in the last week then I will buy more bitcoin and if it goes up I will look to buy something else
so this looks all nice and green and up by 0.54% but that's just the last 24 hours
let's click on the one week button and bitcoin is up!
so it's up 7% so that hundred pounds in bitcoin that I bought last week is now worth seven percent more which is you know good isn't it I suppose in the scheme of things?
but that means we play the rule that's on... that's on screen now
I am now going to buy something else and honestly I don't really know what litecoin or bitcoin cash are
I’m sure there is some kind of trading strategy in here that might use those but I... I can't be bothered
I’m going to go for Ethereum because I like the name of it and... and because I’ve lost so much money on it
well 35 quid so let's add to that pot.
If I click on the one week just to see what it's been doing, Ethereum has gone up by 13% so that's almost double the percentage that bitcoin's risen
just good... for the fun of it I’m just going to click on the one month button to see what Ethereum has done and in the last four weeks - which is pretty much when I last bought Ethereum - it's down 28%
in my head maybe it might go back up to that one day in the future
if I scroll up it reveals the buy and sell buttons
we're gonna buy so I’m gonna hit the big blue buy button and we do this every week but PayPal's fees
this is just an ordinary PayPal account and the fee for buying a hundred pounds worth of crypto on... on PayPal is 2.3% so I’m gonna pay 100 pounds and one pence just to reduce that to two percent so I will type in 100 pounds and where’s the point - I really can't see the point!
0.01 pence then click next and we're on the review and buy screen
My dear friend that... my friend of eight weeks now so you can see the price of Ethereum fluctuating as I speak is currently worth 999 pounds for one Ethereum
Even while I’m talking to you the... the value of it is... is falling and rising
you can see there that the transaction fee is two pounds and that means I’ll pay 102 pounds in one pence, like I’ve done every week
I’ll hit agree and buy
you purchased 0.10004518 Ethereum
fantastic so now after I’ve spent 204 pounds and two pence that 202 pounds is currently worth 167 pounds of Ethereum so I feel good
I feel good that I’m buying something other than bitcoin for a change because I know it's a bit boring and vanilla
but the experiment relies on me doing this boring thing every week and I’m sharing it on this channel so you can live vicariously through my plodding investment through the year
we'll just watch it do its thing
Will it go up will it go down?
I’m going to move the camera now so I can point to over here and if you want to know how much the money I’ve spent right now is... it's in this playlist
if you click on that playlist now you'll see how much this money is worth when you're watching this long into the future
Maybe I’ll start making these once a month. What do you think? leave a comment below!
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