Mate, you did the best thing so far as a newbie who is a bitcoin lover to take advantage of buying at the dip. The amount you bought doesn't really matter but what matters is the safety of your coins and you shouldn't leave them in an exchange because they are centralized and have control over your keys.
Electrum wallet is good for you to use to keep your bitcoin based on the amount that you bought. When your investment has grown to an extent,you can switch over and get electrum cold storage wallet,which your keys should be generated on an air gap device.
Welcome to the cryptospace.
Topic: I just purchased my first satoshis - page 3. (Read 566 times)
Hello guys congratulation to me, I just purchased my first bitcoin, it really feels good knowing that it's one of the best decision I've made so far, I am proud of myself even if the start up amount is small, I hope to add to it consistently by the end of every month. I purchased the coin on an exchange but am looking forward to buy a Trezor hardware wallet for my coin storage.
The journey of a thousand miles always start with a step so it doesn’t matter if the start up amount is small or big all that matters is you have finally purchased bitcoin. Purchasing it is one step and protecting it is another step which you must not play with if you don’t want to lose your bitcoins. I’m sure you must have learn about how to safe guard your coins and your keys. Just be careful with storing your assets on exchanges, they are not realiable and they cannot be trusted. Not long ago news came in about an exchange CoinEX being hacked, loosing 27 million USD worth of crypto which i think is now confirmed. that’s one of the reasons why you shouldn’t keep your crypto assets on exchanges. See link below
https://bitcointalksearch.org/topic/coinex-hacked-70m-stolen-5466540
Congratulations, that is for sure a genuine feeling after your very first purchase of Bitcoin and be consistent to all of what you've said if you're planning to accumulate more on a monthly basis or whenever you're available to.
I believe the amount of knowledge I have accumulated about bitcoin through this forum will strengthened my emotion not to panic when the market goes bearish.
It is not going to be easy if you experience the bearish moment of the market but you have to experience that and to see how you're going to react on it. But don't you worry for now because we're done on its cycle as of the moment and we're approaching the halving which is the indication that we're near in a bull run. Keep it up. 
Huge amount or small amount of Bitcoin you buy is the same because it is the same but if you are going to compare it to huge amount then you can buy again in small amounts until you accumulated enough Bitcoin. It is indeed a good decision if you ask me to decide buying Bitcoin instead of buying other crypto that you aren't sure about it or not the best crypto there is. I also agree with the decision of not flaunting your wealth or assets online as it may compromise your wallet and may lose all your assets. Good luck mate qnd congratulations.
Image has been deleted,
You are learning the first rule of privacy which is to keep your assets private or this will be the second rule, behind keeping your identity private.The funds you own, where you live, your social medias and IP address are all just personal information, but when put together can be used for malicious activities like targeting you for a scam campaign or cloning your financial self and taking actions that will directly affect you.
Also double check before taking any action cause privacy mistakes cannot be undone.
- Jay -
So my first advice is take your funds off exchanges to self custodian wallets like electrum, because not your keys not your coins .
I completely agree that keeping lots of crypto on exchanges isn't smart. However, withdrawing may not be the best solution for the OP given the amount involved. I don't know Binance's withdrawal fees, but losing a chunk of your funds to secure a small amount doesn't make sense. In my opinion, $10 isn't worth the hassle, so using Binance should be fine.
Hello guys congratulation to me, I just purchased my first bitcoin...
Hey there, OP! First off, congrats on your purchase. If you plan to continue investing, here's a tip: consider moving your Bitcoin to your own wallet whenever it reaches a substantial amount in your eyes, like hitting $100 worth of BTC. This way, you won't have to worry about your funds getting stuck on the exchange, and you'll save on fees by making one withdrawal instead of multiple smaller ones.
Now on a serious note first of all do not flaunt your asset on online platforms like this keep your anonymity
If it is not necessary, you do not have to show the public the amount of bitcoin or coins that you bought. One of the first rules about cryptocurrencies is to never show the public your coins.
If you are anonymous on this forum and no Nigerian know who you are, that is fine. But if you are not anonymous, hide your coins. This is a small amount but in case of next time.
If you are anonymous on this forum and no Nigerian know who you are, that is fine. But if you are not anonymous, hide your coins. This is a small amount but in case of next time.
I don't think you should publish an image of the exact amount of bitcoin you bought
Image has been deleted, thanks for understanding the cause of such risky mistake and your concrete love and advise, I feel more excited knowing that I have been welcomed by my fellow bitcoin holder.
In addition to BlackHatCoin's post above, Electrum can be used as a cold/offline wallet; it functions similarly to a hardware wallet. If you don't have a budget and just intend to keep bitcoins for a long time, Electrum cold storage is a good alternative for the Trezor wallet.
And always remember don't leave your asset long to any exchange just like what happened recently with Coinex there are many customers right now having issues with withdrawal they currently suspended withdrawal due recent hack.
And always remember don't leave your asset long to any exchange just like what happened recently with Coinex there are many customers right now having issues with withdrawal they currently suspended withdrawal due recent hack.
Congratulations on your first Bitcoin purchase it’s indeed a humble beginnings and it comes with a lot of excitement, I know those feelings. And it’s also good that you have been able to read through the forum and realize that storing crypto in an exchange account is not safe which brought you to the decision of think of getting a hardware wallet.
For the main time considering the amount of coin which you have purchased and the cost of hardware wallet, truth be told hardware wallet is not what you need right now, you can go for mobile or desktop compatible wallets which you can use for the main time wallets like that of Blue wallet and Electrum as they are among the highly recommended Bitcoin wallet as they are both option source none-custodial wallet. You can start from their then later when you have top up and upgraded your Bitcoin holdings you can then consider to get a hardware wallet, the money for the hardware wallet can be use for the main time to get more Bitcoin.
For the main time considering the amount of coin which you have purchased and the cost of hardware wallet, truth be told hardware wallet is not what you need right now, you can go for mobile or desktop compatible wallets which you can use for the main time wallets like that of Blue wallet and Electrum as they are among the highly recommended Bitcoin wallet as they are both option source none-custodial wallet. You can start from their then later when you have top up and upgraded your Bitcoin holdings you can then consider to get a hardware wallet, the money for the hardware wallet can be use for the main time to get more Bitcoin.
Congratulation on your first purchase , welcome to the cryptos never ending journey mate . Just a few precautions that you will need a solid , reliable and dependable Wallet since your first optione are hardware wallet its good.
And friendly reminder to store your seed phrase/private key securely and always get a backup just in case. And also keep your anonimity private , dont want people to mess up with you
And friendly reminder to store your seed phrase/private key securely and always get a backup just in case. And also keep your anonimity private , dont want people to mess up with you
Happy to see you excited and satisfied after doing your research. But, we all make mistakes when we're excited. At this point, I don't think you should publish an image of the exact amount of bitcoin you bought, because now it's trivial to just hit that number on a block explorer and have you traced within a minute.
Now as for the hardware wallet, it's a good practice, yes, but for such a small amount as 41,629 sat, I think you should stick with an encrypted wallet on a well-reviewed wallet software like Electrum. Good hardware wallets are worth like four times that amount at least.
Now as for the hardware wallet, it's a good practice, yes, but for such a small amount as 41,629 sat, I think you should stick with an encrypted wallet on a well-reviewed wallet software like Electrum. Good hardware wallets are worth like four times that amount at least.
If it is not necessary, you do not have to show the public the amount of bitcoin or coins that you bought. One of the first rules about cryptocurrencies is to never show the public your coins.
If you are anonymous on this forum and no Nigerian know who you are, that is fine. But if you are not anonymous, hide your coins. This is a small amount but in case of next time.
If you are anonymous on this forum and no Nigerian know who you are, that is fine. But if you are not anonymous, hide your coins. This is a small amount but in case of next time.
Congratulations on your first purchase, every little satoshi today would definitely one day accumulate to a bitcoin tomorrow 
so keep adding.
Now on a serious note first of all do not flaunt your asset on online platforms like this keep your anonymity. To start with that this big on you purchase is certainly from binance base on the image you just posted. So my first advice is take your funds off exchanges to self custodian wallets like electrum, because not your keys not your coins .
There many other wallets to look into you can have a snip at this thread for bitcoin wallets. The most recommended one is the electrum wallet, here is a thread on how to verify it.
so keep adding. Now on a serious note first of all do not flaunt your asset on online platforms like this keep your anonymity. To start with that this big on you purchase is certainly from binance base on the image you just posted. So my first advice is take your funds off exchanges to self custodian wallets like electrum, because not your keys not your coins .
There many other wallets to look into you can have a snip at this thread for bitcoin wallets. The most recommended one is the electrum wallet, here is a thread on how to verify it.
Hello guys congratulation to me, I just purchased my first bitcoin, it really feels good knowing that it's one of the best decision I've made so far, I am proud of myself even if the start up amount is small, I hope to add to it consistently by the end of every month. I purchased the coin on an exchange but am looking forward to buy a Trezor hardware wallet for my coin storage.
I can't even express how exited I am, even if this is just the first phase, I believe the amount of knowledge I have accumulated about bitcoin through this forum will strengthened my emotion not to panic when the market goes bearish.
Thanks guy for your support, advice and wonderful opinion.
I can't even express how exited I am, even if this is just the first phase, I believe the amount of knowledge I have accumulated about bitcoin through this forum will strengthened my emotion not to panic when the market goes bearish.
Thanks guy for your support, advice and wonderful opinion.
Jump to: