Topic: am now a bitcoin investor(first purchase) (Read 469 times)
I will like to congratulate you on your decision to buy Bitcoin but there is something you must understand about the market which is volatile of the market. The market can move to any direction so you have to prepare you mind that this decision you have taken to become a Bitcoin holder will stick with you and will not make you talk bad about the cryptocurrency market eventually when the market turn to a direction that do not suit you. Prepare your mind to work through the bear and bull market because that will certainly come around.
This is great attempt, and it's encouraging for seeing our newbies to surmon a courage of purchasing cryptocurrency for investment, because i have seen some people who have been biased over Bitcoin investment, so i believe that you investing in Bitcoin at least will bring other people within your area to cryptocurrency investment.
OP, sorry about this. I'm really not sure if I'm brave enough to post the asset amount along with screenshot of my transaction for people to see on the forum [even if it's $10K to $100K worth]. This is not great idea if you are looking to invest in bitcoin because to be honest bitcoin are such valuable asset that most people probably expect. So why don't you care about privacy even if your assets are not worth more than $15?
You can claim to have invested in bitcoins for whatever amount you can afford to lose, but you are not required to prove the amount of assets you own. Even someone has started investing $1M in the first day, but they don't want to put themselves and their safety in danger.
You can claim to have invested in bitcoins for whatever amount you can afford to lose, but you are not required to prove the amount of assets you own. Even someone has started investing $1M in the first day, but they don't want to put themselves and their safety in danger.
@Op, Welcome to the crypto investment stuff. And as I can see, you are also from my locality, which is a good sign that lots of people are adopting crypto. But I hope you also know the risks involved in BTC investment: your money might not be worth the same amount when you need it because of price inflation, unless you are not in a rush and have determined to hold for the long term. Once again, congratulations.
...and don't forget to save your bitcoin in a hardware wallet.
Given the size of the bitcoin purchase, I doubt that the OP will buy a hardware wallet for holding 0.00057854 BTC. But trusting your, albeit small savings to a centralized exchange is also not the right decision. The simplest solution for OP would be to use the Electrum wallet, which has long been trusted by the crypto community.
I remember the first time I got in, it was a tiny amount, and I got out eventually, because I like profit but it was a very wonderful day because it wasn't just about making profit for me, it was about learning more about bitcoin. That day, I truly believe that my life was saved.
Because, ever since that day I have been living a life that is much better than what I can normally live. The world gave me a small portion of place to live and told me that I belong there, thanks to bitcoin however I decided that I do not belong to that corner that was given to me and I believed in much more, not just financially but in freedom to choose as well. Now I am living a much different life, and that's awesome.
Because, ever since that day I have been living a life that is much better than what I can normally live. The world gave me a small portion of place to live and told me that I belong there, thanks to bitcoin however I decided that I do not belong to that corner that was given to me and I believed in much more, not just financially but in freedom to choose as well. Now I am living a much different life, and that's awesome.
...The key to a successful bitcoin investment is holding and that's what i intend doing
Many beginners lose their deposit very quickly, starting to trade without having the knowledge and experience to do so. Therefore, the strategy you have chosen is the only correct one. Since the first purchase has already been made, you need to study the issues related to safe storage.
There are many ways that you can do with your intention to invest in virtual currency so you should find out more about what you are investing in in the future. If you choose Bitcoin you should look for the right time at the current price. if you think this is good to buy then do it.
It's not wrong if OP takes the path of investing in Bitcoin because we all know that OP has chosen a very good currency for his investment at this time and it will be a very extraordinary experience in his life also in the future if he gets a profit. Because daring to try to invest in Bitcoin is a very extraordinary thing than not making any investment because you hear more about other people's words.Quote
I bought Bitcoin last year for a very large amount in April and saw the price of Bitcoin was very high. I dreamed that it would continue to increase but apparently everything changed with the recession.
In April last year Bitcoin was still in the $40K range and I don't think that's quite as high compared to the ATH that Bitcoin has been in even though it still looks a long way compared to the current price which is still under $24K. But I think it won't be a problem for you as long as you are patient in waiting for a better price increase in Bitcoin this year. 
Congratulations man on the purchase. This is a great Achievement, as i myself started with much smaller Amount but later raise up by buying more and even accumulating more coins since i started working on most signature campaign in the forum as a full member. I would advise you as everyone else has and that to move your coins off the centralized exchange you used in making this purchase and maybe secure more in an electrum wallet which is more safe since you are the owner to your keys and your coins and make sure you safeguard your seedphrase when creating your wallet.
Its seems good and worth with your first time investing 0.00057854 Bitcoin in your Binance exchange wallet account, I don't think good ideas with your investing place trough exchange wallet because have bad thing later based on FTX exchange market collapse. Congrats with your first bitcoin purchase and later you can invest more than this amount and one day later I think you will get sweet thing from your investing funds.
Don't stop your ambition having more than many Bitcoin one day later, I think you can use your technic with daily, weekly, monthly or yearly for spent from salary investing in Bitcoin. I used my way with weekly investing in Bitcoin above $100 since last one years and waiting for selling until bitcoin back to $60,000.
Don't stop your ambition having more than many Bitcoin one day later, I think you can use your technic with daily, weekly, monthly or yearly for spent from salary investing in Bitcoin. I used my way with weekly investing in Bitcoin above $100 since last one years and waiting for selling until bitcoin back to $60,000.
I'm glad for what you did OP, welcome to the club! 
I believe you truly had a great vision because you took the risk in investing towards bitcoin and while it may be easy for the other person's perspective but what you did took some guts because cryptocurrencies are somehow demanding and laborious as it requires knowledge beforehand and the learning never stops. So, good luck for you journey OP and again, congratulations. Just don't forget to transfer those assets in a much safer wallet (cold), so that your coins are somehow safer from others to reach.
I believe you truly had a great vision because you took the risk in investing towards bitcoin and while it may be easy for the other person's perspective but what you did took some guts because cryptocurrencies are somehow demanding and laborious as it requires knowledge beforehand and the learning never stops. So, good luck for you journey OP and again, congratulations. Just don't forget to transfer those assets in a much safer wallet (cold), so that your coins are somehow safer from others to reach.
You should try some trading too since the amount you invested is quite small for it to be considered as hodling stack. But always have a note of risk management.
Trading is not for everyone and I do not think new members should be trading away their btc. Trading requires knowledge on how the economy works which is a degree level subject that most of us do not have the knowledge to understand. Not everyone should be trading it is risky if you do not know how the market works and when you do know something about economics it is still risky because bitcoin is not like the normal investments you can make. Not all trading trades away btc. When you trade btc pair, your profits and losses will be on btc. So trading can accumulate btc and necessarily reducing it.
As you mentioned, the most important thing about trading is first being sure you know how to trade. Trading is not all about buying low and selling high. There is more to it and if Op knows how to trade, that is how to increase his small investment.
It wasn't easy for me to fully learn and understand the whole concept of bitcoin volatility but due to the curiosity i had to learn, i now know that bitcoin isnt any investments where one can make millions overnight after investing which is normally the basic view most people in my place have towards bitcoin investment. I missed out when the price was still 16k last year but i had to make my move now that the price is ok to buy, before it goes up again so i sold somethings in my place that are not of value to me again and started my own bitcoin investment journey.
You don't need to attach a screenshot of the purchase because it will be dangerous for your privacy in online forums or elsewhere.Congratulations and good luck with the investment you make in bitcoin, it takes consistency and understanding of the bitcoin cycle, so that the investment you make is optimal and profitable, you need the right concept and an accurate pattern to enter the market. No matter how big your first buying effort is, as long as it can be maximized it will be much better. You can increase the amount of your next purchase in a number of ways, both long term and short term from the profits of the first purchase you make.
The key to a successful bitcoin investment is holding and that's what i intend doing
My advice is don't forget to study market conditions, because bitcoin investment also has a high risk and that's why bitcoin is considered volatile. If you take the wrong opportunity, you are worried that you will suffer a loss when the market conditions are towards a negative trend, because you will panic and try to cut losses by selling. 
There are many ways that you can do with your intention to invest in virtual currency so you should find out more about what you are investing in in the future. If you choose Bitcoin you should look for the right time at the current price. if you think this is good to buy then do it.
I bought Bitcoin last year for a very large amount in April and saw the price of Bitcoin was very high. I dreamed that it would continue to increase but apparently everything changed with the recession.
I bought Bitcoin last year for a very large amount in April and saw the price of Bitcoin was very high. I dreamed that it would continue to increase but apparently everything changed with the recession.
You purchased roughly $15 worth of bitcoin, right? It may seem small to others, but it is a good start to owning bitcoin, and I am sure it will be memorable for you as this was your first time owning a bitcoin. What I suggest is, can you transfer it to a cold wallet? that you own the private wallet? I am sure you purchased this on an exchange, e.g., Binance, but you don't own the private key; you only have the account, and if ever it is the same case on FTX, then it would be difficult to recover. As you notice, people here in the forum are now transferring their bitcoins onto their own wallets just to be safe.
cryptocurrency or should I say bitcoin in particular is not something that is strange anymore in my locality. Although its still not allowed to transact bitcoin with the local fiat bank in my place but the use of bitcoin is still spreading and i am happy to say it has helped alot of people especially when it comes to payment for things online, especially in this particular period of time that my country is facing so much financial restructuring @changing of our local currency @turning the system into a cashless economy@ scarcity of the new and even the old naira note and the holding back of individuals funds restricting them from using their funds in the fiat banks.
So am glad that i was finally able to purchase my first bitcoin and am also planning on buying more, also i will hodl my coins till the speculuted time of the bitcoin halving due to stats gathered in the crypto space, which is supposed to take place next year but prior to the fact I have gathered on my own, i feel no one truly fully understand the movement of the price of bitcoin so i will holding till whenever bitcoin fully reaches another all time.
It wasn't easy for me to fully learn and understand the whole concept of bitcoin volatility but due to the curiosity i had to learn, i now know that bitcoin isnt any investments where one can make millions overnight after investing which is normally the basic view most people in my place have towards bitcoin investment. I missed out when the price was still 16k last year but i had to make my move now that the price is ok to buy, before it goes up again so i sold somethings in my place that are not of value to me again and started my own bitcoin investment journey.
So am glad that i was finally able to purchase my first bitcoin and am also planning on buying more, also i will hodl my coins till the speculuted time of the bitcoin halving due to stats gathered in the crypto space, which is supposed to take place next year but prior to the fact I have gathered on my own, i feel no one truly fully understand the movement of the price of bitcoin so i will holding till whenever bitcoin fully reaches another all time.
It wasn't easy for me to fully learn and understand the whole concept of bitcoin volatility but due to the curiosity i had to learn, i now know that bitcoin isnt any investments where one can make millions overnight after investing which is normally the basic view most people in my place have towards bitcoin investment. I missed out when the price was still 16k last year but i had to make my move now that the price is ok to buy, before it goes up again so i sold somethings in my place that are not of value to me again and started my own bitcoin investment journey.
Congratulations on your first purchase of bitcoin and welcome to the hodle community. It is nice you bought bitcoin as an investment. This is absolutely one of the business investment step one can take at this moment in time. You can keep taking advantage of the current market condition by purchasing in fraction bit by bit as the case may be. Remember the phrase "not your keys, not your coin" as not to loose your coin in the custody of third party exchange. Also, remember to invest what you can afford to loose that is you using your spare cash to buy bitcoin so that what ever happens to your investment, it would not affect you and if you are to trade on third party exchange, always do well to collect your profit while sending to your own private wallet where you have possession of you your private keys yourself. I think this would save you some stress.
The key to a successful bitcoin investment is holding and that's what i intend doing
Holding bitcoins for the long term is indeed a very good strategy when investing in botcoins, but can you survive when the market is declining because so far if we pay attention only some bitcoin investors have strong hands to be able to continue to hold them, sometimes when the market experiences a decline will usually make many people panic so that some of them decide to immediately sell their bitcoins even though they are at a loss.Many think that holding bitcoins is easy to do, but only a few people are able to do it consistently.
After the first purchase, he can buy bitcoins again, especially if the price goes through a deep correction. And he must remember to use the money he can afford so that it doesn't interfere with allocating his funds to other things.
It's good to see newbies doing their research first before buying bitcoin, many rush to buy and they don't have a clue about what they are buying, sooner or later they get tired of holding and they sell for loss, if you know what you are buying nothing can break you. I will say keep it up, they amount you bought is very low but keep DCA when you can afford it and remember that you can't build an empire in a day, welcome to the family.
The key to a successful bitcoin investment is holding and that's what i intend doing
congratulations on your first Bitcoin purchase. and also, good luck trying to invest.you seem to have understood how Bitcoin is a better alternative than fiat. and now you have started your first investment. you already have the key and then it depends on how consistent you are in accumulating more of your Bitcoin and also how you can hold it according to your plan.
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I will also congratulate to you for buying Bitcoin for the first time, you bought at the right moment especially now that the price is very far from ATH, of course buying at a moment like now is an inevitable advantage, but there is still a long way to go halving and of course on the way there will definitely be a lot that affects your faith and mentality, it will be an important lesson for every small or big holder to build fundamentals as a strong holder.
I really hope you make purchases for the second, third, and so on. Until you feel you have enough as future savings and we can celebrate.
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