Hello Steemit friends,
As many of you may know, I am chronicling my adventures into creating an alternative means of supporting myself and my family by unplugging from the 9 to 5 rat race and using cryptocurrency as a tool to sustain my family and to effect positive change in the world. This is so that when I am gone, I would have left the world a bit better than when I showed up in it.
To that end, I have been trading options on the stock market and I have been primarily mining cryptocurrency. But it wasn't until about 3 weeks ago that I came to the realization that I can not only do those things but I could invest in cryptocurrency and also use it as a platform to change my life and the life of others by sharing my experiences and what I am learning along the way.
I am hoping that Steemit will be around for a very long time and so this is also serving as a way of journaling my lessons learned and one day I hope to pass all this knowledge on to my 2 adorable little munchkins.
So far I am actively trading on the options market and I have in mind a few posts that I hope to write soon to show how I trade and how anyone can replicate similar methods to literally generate income that is sustainable and viable ... the same way that those Wall Street types do and make big bucks...all depending on your experience and the size of your investible capital of course. But that is a topic for another discussion.
In the spirit of investment though, I recently started an investment in IOTA and I am very excited about the prospects. I wrote about it in this post if you want to check it out.
I also found out about another crypto platform that has a great value proposition and in which I believe will be crucial in my investment portfolio, and that is BitConnect. I wrote about it in this blog post: Living The Dream.
As I was checking out new posts on Steemit, I came across the following post entitled: "Bitshares - State of the Network - 11th July 2017" by 
I liked the idea there of a report that updates the community on a cryptocurrency that one is passionate about. So I thought to myself, wouldn't it be neat if there was such a report for IOTA and BitConnect?
So thank you
In that same spirit, I did my first transfer of Bitcoin just now to the BitConnect platform and I started my first loan at $1090 (equivalent in BitConnect coins). I thought it will be a good idea to share the exact process that I used so that those of you who are interested in using the platform to build your pipeline to live your dreams can just replicate and do the same.
So in order to start with the lending on BitConnect, and since I didn't just have the $1090 sitting around, I used some of the Cryptocurrency that I have: Fastcoin symbol FST.
I first checked on CoinMarketCap: Fastcoin to see what the price was and which exchanges that are trading in the top 2 volume rankings.
I found that the 2 main markets for FST are Livecoin and Cryptopia based on 24hr trading volume:
Then once I know the exchanges, I create an account there if I don't already have an account there.
At the time I did the trades, there were more favorable prices on Cryptopia but the amount available at the price I wanted was low and so I split the trade between Livecoin for the volume and Cryptopia for the prices.
In the end, I got the number of Bitcoins I needed to transfer to BitConnect to start a loan. Once the coins were transferred to BitConnect, I had to go to the BitConnect exchange (available directly on the BitConnect site) and buy BitConnect Coins; symbol BCC. At the time of the purchase and conversion, the market level was as follows:
I was able to exchange and get my BTC converted to BCC
After that, on the BitConnect platform, I needed to use the Lend BitConnect button on the main dashboard to start the lending process.
At that dialogue, I needed to then buy US Dollars in denominations that are divisible by $10 because the minimum incremental amount that you can lend on the BitConnect platform is $10 and so based on the amount that I had, I could only lend $1090 (I wanted to see if I could lend $1092 but it did not work)
Once that step is done, I was completed and had successfully set up a loan on BitConnect. One thing you should be aware of is that in order to earn the interest on the loan, the funds are locked up for a certain number of days. In my case 239 days. Once those 239 days are completed, I will be able to calculate my holding period return on the investment including the additions from daily interest reinvestments and I will share that information with the community.
On the main dashboard, you will see the confirmation that the loan is setup and your investment is underway by a message that shows how much you are lending:
Now that the investment is done, I will follow up and take a look at my account in order to see the amount of interest accrued. I estimated that it will take the first 2 days before I can reinvest. I also have some BitConnect that was not invested and is sitting in the account and so I will add that to the accrued interest and invest at the $10 multiple.
So that covers how I have started this pipeline. As I mentioned earlier, I will now start a weekly report on the State of the BitConnect Network so that those of you who are interested can be abreast with what is going on in that sphere. Please comment below if you think this will be something useful to the community. If you think this is also a bad idea and a waste of time, I will like to hear from you too. That way I will put my efforts somewhere that is needed.
Please note that this does not constitute investment advice, but only a chronicle of my own experiments and adventures into crypto investments. I think that it is always helpful to share information like that to help others make informed decisions.
If you find that this is an avenue that could be profitable for you; and you want to Join BitConnect, consider using my link to help me produce more content like this one and share your own journey with the community as you go along.
A wise man once said:
"To be happy at the top, make sure that as you climb to the top,
you help others climb up with you too. Because if not it will be very lonely at the top" -- Anonymous
Please upvote if you like this post. Comment, ask questions and interact. And also if there is someone out there who has had more exposure to BitConnect and will like to share their experience. Please feel free to do so too.
Thank you for your time. MUCH LOVE!