Topic: am now a bitcoin investor(first purchase) - page 3. (Read 469 times)

Congrats! Welcome to the community. I remember my first purchase in OWNR, it was thrilling and I wanted to buy more immediately. But I couldn't do that. Just remember - zoom out in doubt and HODL.

Hey OP, firstly, welcome to the community and to the crypto world. As this is your first purchase, and you are still learning. You should HODL it until you learn all about many more ways to make your asset grow. For the time being, you should keep adding to your purchase in the future and keep hodling.
When the time is right, you can trade and earn more. But don't listen to me. Do your own research and keep learning. And congratulation.

One more thing, read the previous reply above mine. Maus0728 has shared great information about keeping your assets in exchanges. Keep them safe in a private account.

If I may suggest, after you have spent about $100 or so on bitcoin, try transferring it to a wallet where you own the private keys, such as Electrum for desktop or laptop computers or Bluewallet for mobile devices.

Unless you are actively trading with it, using an exchange to hold your asset is a terrible idea^[1].

[1] https://cryptosec.info/exchange-hacks/

Congratulations on your first bitcoin purchase. I hope you can continue buying the second bitcoin purchase until you feel enough with the amount. You have used this time to buy and I see that now is the correct time for the bitcoin price so it's safe to say you are entering a good time to buy bitcoin.

After buying your first bitcoin, you must keep your emotions in check, especially if you see a drop in bitcoin because many people eventually can't stand seeing the price going up and down. But I'm sure you can do it and by continuing to learn to analyze market conditions, you will be able to enter the market on time.

Let me start by correcting you before congratulating you that you can always edit your image size to smaller one, it doesn't need to appear big before your message could be passed across, now  about investing in bitcoin, i believe all that is needed as a newbie os no more new to you, that you're taking this step with the understanding that bitcoin is volatile which indicates that it could rise or fall, also that you're using the appropriate wallet in keeping your investment which could give you full control over it, then lastly you have heard about DCA method of buying bitcoin to avoid or cht loss and have enough patient to hodl before sale, if all these were indeed fulfilled by you then accept my congratulations for a good start.

welcome friend, I hope your bitcoin investment brings a lot of profit.
Don't forget to keep learning, and keep enjoying the whole process.
it seems that every day many new investors emerge, who are ready to enliven bitcoin and other crypto.
hopefully with more and more
bitcoin investors, will be a positive impact.

Now it seems that there are a lot of Nigerian people who are into bitcoin because previously I also found threads that had the same experience as you some time ago and there are even threads of Nigerians who do use bitcoin as a tool for transactions in both trade in goods and services.
This is great I love this kind of thing but indeed if you come in early when they were at $16k in december or early last january then obviously it gets even better but now it's not too late for that.

don't be offended, but you bought 0.00057854 BTC which is the current value of $13.35. And it is not a spectacular amount that could be considered an investment, that amount can be collected even with faucet claims.
I'm glad that you became a Bitcoin holder, but imagine how absurd it is that after the first small purchase of bitcoins, you share advice and talk about what is key in this investment. advice is usually given when you have some quality experience, while one small transaction is certainly not.

A good start, know where you are stepping at, if you know nothing about it then don't force it. Take the time to get ready and for now HODLing will be the plan. Congratulations on your first purchase and I wish you could continually increase the number as time flies by.
I understand that the economy is at it's worst point but investing is still a good idea even for just small amounts. Hoping to see this one day turn into 1 Bitcoin as you keep on adding more.

It is not impossible that someone can get richer overnight via investment in bitcoins. It is not just a common thing and something happens everyday so people are advised not to have that mindset when they are about to invest in bitcoins. Think about this, imagine someone who invested a huge amount amounting to the value of one bitcoin or more, If there is a very positive movement in the market just like after some hours after they invested, they will be richer. This is not something that can always happen and not to everyone because it is not everybody that has the money to invest heavily in bitcoins, and there is no way to exactly know when the price of bitcoins will jump positively to a new profit price.

woah!!! , i think that's a very big and bold step to take in this early stages of learning more about bitcoin especially with the fact that trading is very sensitive and i can lose even this my little investments within a twinkle of an eye, if am not fully grounded on it which am not.  So i think i will just stick to my first plan "planning on buying more", i feel thats way safer than trading for now. But if i eventually developed interest in learning about trading, i know i will need to start from scratch on reading and watching lots of lesson video on trading and for now i not ready yet

Congratulations on your first Bitcoin buy as you said, you are planning on buying more so I would suggest you to DCA monthly if you have the means to in growing your portfolio and do not risk trading if you don't know how to. I am also glad that you understand that Bitcoin Investment isn't a get-rich-quick thing which some people think thereby ending up being disappointed when things don't go that way and I believe that it is a crucial step to know with Bitcoin investment.

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.

Congrats on your first purchase mate. However, it is not very recommended to show your order id screenshots in an online forum or anywhere as it may harm your own privacy.

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.

Nice to see someone buying bitcoin and understanding you will not get rich over night. it could take decades for you to make any meaningful profit and as long as you are prepared for that I think you will not regret your purchase. Make sure that you are storing the btc in a wallet that you own and have the private key. Then backup the seed of the wallet and store it in a secure location. Then sit back and relax and watch your investment grow over the years.

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.

The key to a successful bitcoin investment is holding and that's what i intend doing