Welcome to Coin Pixie! My name is Sarah, and I am new to the world of cryptocurrency. This blog is going to be a documentation of my adventure into “virtual coin collecting.”
I first heard about Bitcoin back in 2013 when the FBI Silk Road bust was all over the news. I guess I had heard a little about Bitcoins before this, but I wasn’t really sure what they were or what exactly you were supposed to do with these Bitcoins. The Silk Road story helped me to realize that you could use Bitcoin as a kind of currency with really low fees. This got me really excited because I had an Etsy shop and as a small business owner anything I could do to lower fees was awesome.
So, I set up a Coinbase account to host my Bitcoin wallet and I put a note in my Etsy shop that I was now accepting Bitcoins. I waited and waited, but unfortunately, no one ever took me up on it. Boo!
I also tried to figure out how the whole mining thing worked, because I thought maybe I could get some coins that way. But every time I installed a miner it just crashed. So, I pretty much forgot about Bitcoin until earlier this year, when it suddenly jumped to like $5500. I excitedly looked at my Coinbase account trying to remember if I had ever managed to get a hold of one, but no. Alas, I was bitcoin broke. 😩 😭
I shied away from investing actual money in Bitcoin, because I always thought you had to buy an entire Bitcoin. I didn’t realize you could just buy odd amounts like $100 worth, which is currently 0.013726฿. So, I finally bought some a few months ago using my Coinbase account. The price was at $5700, and I was afraid it would plummet immediately. Lucky for me, it quickly jumped up to $6500 and then to $7500. Whew! Ok, so now I am invested. 💰🦄
In my next post I am going to discuss how to accept cryptocurrency at your Etsy shop. Stay tuned!