From rags to riches 1: My amateur plan to turn £300 into £60000 Introduction

I would like to start by saying that I am fairly new to the scene and I don’t consider myself to be an expert. I had a vague idea about cryptocurrencies and bitcoin until fairly recently when I encountered blockchain and ethereum. This happened about two months ago and since then I am consuming all types of information regarding the exciting world of blockchain and cryptocurrencies.

Even though I am a complete amateur I think it is fairly easy for everyone to see that there might be some golden opportunities in the world of cryptocurrencies at the moment. This will probably not last forever and it might end at any point but for I believe we are not there yet.

Since I have a day job and my time is fairly limited I tried to figure out a plan from which I could benefit as much as possible from the various cryptocurrency opportunities. This plan would have to take into account the time I can allocate into my new hobby, the amount of money I can lose without affecting my life and a potential high gain.

I already have a fairly modest portfolio of crypto assets that I don’t plan to sell anytime soon. This my long term bet in cryptocurrencies. I decided though that there are some short term opportunities out there that I might want to take advantage of. So here is my plan:

1. I will start with £300 starting capital
2. I will invest mainly in ICOs unless something exciting happens that a coin I consider valuable drops significantly
3. I will sell 50% of my investment as soon as the coin I bought reaches 4x-5x.

It is easy to figure out that if I make some good bets I will end up having £60000 in about 7 good investments.

Obviously, this is a fairly ambitious gamble but considering the small amount I am going to invest, I don’t really care if I end up winning that much or not. It will be interesting just trying to figure out what the next big ICO will be and then watching the prices going up and down. The realistic scenario would probably be that I will have some good time, learn a lot of about cryptocurrencies and end up earning something closer to £5000 which sounds great to me.

As you might have figured out by now I plan to document my whole journey here in Steemit. Moreover, I will try to give as much information as I can regarding my thought process for each buy, the sites I trust to get information and anything that might be interesting regarding the whole process.

Before I finish I would like to say that I am very excited to share my journey with the Steemit community and I would be very happy to see your thoughts about all the above.

That’s it for now. My next post will be about my first investments which would probably be fairly soon.

Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.