Blog 1 – October 2023: Introduction & Ground Rules

They say rock bottom is a solid foundation to build off. And that my friends is where we start.

The Goal

The goal is to get to $50k income per annum through crypto as quickly as possible. I’ve been a spectator in the sport of crypto for a couple of years now. FTX, Luna, Celsius, Block Fi collapses…. Tokens mooning and people becoming overnight millionaires. Or people getting in late, becoming a bag holder or exit liquidity… watched it all. It’s fair to say, I’m prepared and realise it will be a very bumpy road ahead.

The Blog & Criteria

This blog will set out very clearly exactly what I am doing to get the 50k per annum income goal. Starting with an initial balance of $5,000 USD, and putting this to work on various protocols, exchanges, staking mechanisms. I will continue to add $500 USD per month to the investable amount. I am long term bullish on crypto. I really do think it’s a matter of when, not if, it becomes mainstream and part of everyday life. The additional investment per month serves to benefit from dollar cost averaging over time and acts as additional dry powder to deploy. It also keeps me accountable and diligent.

The Research

With regards to research, there is a load of great crypto content already out there. Part of this will be trawling through it and sharing what I find helpful.  The idea is that you will also contribute ideas for different things to research. My twitter account can be found here . Please get in contact with any ideas or tokens you think I should be looking into. Become a part of this journey.

The Portfolio

For portfolio mixes, I am taking a higher risk approach to what you will usually find touted by the experts. Portfolios of 60% BTC, 30% ETH, 10% altcoins are a brilliant strategy if you got in many years ago before everything 1,000x’d. A poor strategy though if you are trying to replace your income and escape the daily grind in a short period of time like me.

The Next Steps

I will be setting up and using the following exchanges to convert money into stablecoins to deploy. Coinbase, Binance, Kraken and Kucoin as a starting base. This will also be where I purchase some of the tokens I decide to splash into.

I cannot vouch for any of these exchanges and they are not without risks, so as is always the case, get things off exchanges into a hot wallet after you’ve done what you need to do. I will be using Metamask / Trust Wallet and deciding over time which one I think is best to use day to day. The account has been set up, and for transparency and so you can follow my journey the wallet is here: 0xD13CC84De29c06060438C7090543cf0D08e34948 . As you can see, $5,000 has been deposited in ($4,900 USDT and $100 in Ethereum for gas transaction fees).

Conclusion

So that’s it. Month 1, October 2023 with a starting balance of $5,000. Now…..the next question….what tokens to invest in.


Disclaimer

It goes without saying nothing on this site or anything associated with Happy Crypto Wanderer is or should be taken as financial advice. This site tracks the hopeful journey of one everyday punter just trying to live out a dream. Come back here every month so you can track the journey. Any and all feedback is much appreciated. If you feel so strongly that you’d like me to stop at any time, a large enough donation to this wallet so I can reach my goal could make all this disappear.

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