I've invested around 450 dollars into bitcoin so far and I am 16 years old - page 2.

MusaPk

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Quote from: Edwardard on February 18, 2023, 11:18:00 PM

Good job young man. Consider yourself lucky to even know about bitcoin at such a young age. I suggest you to keep and store your btc in a secure self custodial wallet like electrum, bluewallet, mycelium. You can use exchanges to buy more BTCs but never store them there since "not your keys, not your coins". Good luck on your future ventures!

Electrum is the best place to store your bitcoins. With exchanges getting default every now and then it's very uncertain to store your bitcoins there. One more thing that is advisable to OP and other investors is to invest in DCA (Dollar Cost Average) manner rather than putting all your money at once. DCA is very much trusted and tested strategy that is very much suitable for students that want to invest in bitcoin from their monthly or weekly pocket money.

leonair

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Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

Your story is soo cool. good luck to you Hold bitcoins securely. And if you can hold it without selling it, you will own about $1800 when Bitcoin hits $100k. Hold the bitcoins in a good non-custodial wallet like Electrum, Ledger, KeepKey, Trezor etc or you can buy a hardware wallet too
Such events can only be seen posted by Newbie accounts. However op you might get some Smerit if you post a screenshot of your holding bitcoin with the post

RapTarX

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Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it).

I guess you are referring to a custodial wallet where you don't own the private key of the wallet. It's better if you withdraw the fund to a non-custodial wallet like Electrum; even better if you give a hardware wallet a try. I'm sure you are looking in long term. A hardware wallet for storing your coins (key actually) would be great for you. Remember "Not your keys, not your coins."

uneng

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I tried to get my sister to get in on btc but she said she doesn't like the "stress" L sister Roll Eyes

Maybe by seeing you investing on practice she will get interested on this matter eventually. Especially once she sees there is nothing stressful in investing in bitcoin, if you are a long term holder. I believe it's stressful to invest only when you are a day trader who is constantly trying to milk few pennies profit every day from market's fluctuations, which lead to potential losses after a while.

calonpa

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Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

You should be happy that you started so early. Keep the trust on crypto and bitcoin and you will be rewarded big way in future.

You should also share the information and benefits with friends so that they also start investing in crypto. If you want to explore work opportunities in crypto field, you should look for related courses as well.

RahbabaKahn

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Mr. MH, Although you are only 16 yrs of age, you still have much to learn. With regards to the internet, usernames should be considered like Avatars. You should have have lots of them to hide your true identity. You may be surprised about how much trollers can discover about you from your real name. Whenever you create an account on these types of forums or social media sites, no one cares who you really are, so pick any name you choose.
With regard to Bitcoins, definitely keep them in a hardware wallet. Others have recommended some good ones. (personally I like the Ledger Nano-X).
If you plan to keep buying BTC on an exchange, then check the price charts regularly and try to buy the BTC when the chart price is below the 50 day Moving Average. That way you will be able to capture more profits from price increases over time. Try not to expect quick profits, just take your time to accumulate your stash. Hold that BTC for many years, wo when you graduate from college you may have enough BTC to buy a nice car or a house (not stupid junk) in a decent neighborhood.
Good Luck.

dimonstration

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Dimon69

Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

Keep on storing for now since you are still in high school and doesn’t have source of income. Buying Bitcoin and Holding alone is the best investment for newbie since the rest of the investment opportunities is high risk especially trading shitcoins.

You should invest on hardware wallet to store your BTC and stay away on any ponzi that promise you to grow your Bitcoin with insane passive income without doing anything. I’m sure that you will encounter this kind of scheme so I’m giving you an early warning. Good job!

Yatsan

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A good amount for a start but be sure you can afford enduring the market price volatility in this industry. It won't always be upsies given how volatile the market price is. There will be times of corrections and market price downfall. If you cannot afford seeing how the market behaves then ease down I guess. As mentioned, you are a student; I've heard cases wherein students are investing their allowance and even tuition fees in this industry which will never be right and tolerable. Just think of times wherein you'd be needing that money and you cannot sell because the price is still low. This is simply the unexpected but what is usually happening. So be careful.

S A KHAIR

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Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

Maybe you come from a developed country because at 16 years old you can get 450$ is a huge amount. At your age, kids in my area are still dependent on their parents, and they have almost no savings. You are lucky to know bitcoin when you are 16 years old and if you can invest in it until you grow up, I believe you will be a billionaire in the future.

Darker45

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Quote from: Darker45 on February 19, 2023, 02:12:14 AM

~snip~

Yeah most likely I'll probably lose some money but at the end of the day I own bitcoin. Plus I'm going for a long-term investment, not a short-term one. Investment is not always uphill. Diamond hands hahaha Grin

I tried to get my sister to get in on btc but she said she doesn't like the "stress" L sister Roll Eyes

You're not really losing. Paper loss is not a loss in the sense that your Bitcoin is intact and that it's only the price that has decreased. And it's normal for a highly unpredictable and volatile asset like Bitcoin. Well, it's strictly an unrealized loss, but that doesn't mean anything unless you will sell your Bitcoin. The only thing that would make you lose is if you sell at a loss. So if there will come a time when you want to sell, do it with a realized gain not loss.

To be honest, if you're new it could indeed be stressful. If the price value of your Bitcoin portfolio has fallen 70%, you could possibly get stressed. But that's the tendency only if you focus on its short-term to medium-term price fluctuations. If you zoom out the entire Bitcoin chart, you will see how things will eventually get better in the end.

The last laugh always belongs to the one who's got the diamond hands.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

Buying bitcoin at your age is a good thing and $450 is a big money in some countries and if you will remain consistent you can be referred to as a future millionaire. But I read where you said you put your all into bitcoin. I want to understand if you invest all your money in bitcoin. But it is bad, you only need to invest what you are able to lose. Please don't be addicted to investing what you cannot afford to lose. Focus on long term investment of small amounts at a time in a manner that it will not affect you.

Smack That Ace

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Quote from: Jawhead999 on February 18, 2023, 11:26:50 PM

Am not sure what does you mean about you put all into it, did you refer to how long you invest to learn Bitcoin or you're used all of your money which is $450 to buy Bitcoin? As long as you can afford to lose all of your $450 and you don't need to use that money to buy stuff in your school, you're good to go.

Does you mean this app? https://www.stockpile.com/

It's a centralized platform and I see they're ask KYC verification, it's not good for long term holding, you need to use hardware wallet since you're still newbie. Make sure you bought it from official store/seller. Anyway this thread is good to learn Security and Privacy Topics on Guides and Protection.

Yes, I do mean stockpile.com. Also, I will talk to my dad tomorrow or very soon to talk to him about transferring my money out of stockpile and into a hardware wallet. I plan on long-term investing my money into btc. Currently, I can afford to lose all of the 450 dollars of bitcoin that I have. It's not a life-changing amount for me or my family. However, I do plan on investing almost every dime I earn from a job/birthday/holiday (I'm not actually 16 I turn 16 literally next week) I am very excited to get a job so I can get more bitcoin, for me it's like gold, in my mind bitcoin is shiny and awesome looking.

I don't know about stockpile.com either, but if you already own a hardware wallet, don't hesitate to move all your bitcoins to a hardware wallet, it's the safest wallet by far. If it's money won't affect your life even if it disappears so hold your bitcoins as long as possible. Another thing is, bitcoin is more precious and better than gold, it completely outperforms gold in terms of returns.
But you're only 16 years old, which means you're still of school age, so you still have to focus on your studies, don't be too passionate about making money and neglect your studies. Education is your future.

Charles-Tim

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Do you know a good resource for DCA BTC?

You can use the site above as DCA calculator, but know that DCA is not something hard. Just taking certain amount of money weekly or every certain period of time and invest it in bitcoin continuously for certain period of time is DCA. As for me, it is not what I need a calculator for, just normal calculator is okay for me, but there are ones like that one above posted by Edwardard that makes the calculation easier.

For security and privacy, you will find these topics interesting: Good topics on security and privacy

Fiatless

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Quote from: mxfwzzwizqbz on February 18, 2023, 11:13:42 PM

Currently, I am a sophomore in high school. I learned about btc from my dad and btc blew my mind and I was hooked. I've been pretty much putting all that I can into it for a year and a half now. Are there any tips you guys give me? 2/3 of my bitcoin is in Stockpile and the other third is with my dad (I'm not sure how he's storing it). At this moment I own a total of 0.01798185 bitcoin

This is a good start for a sixteen year old. You mates are out there playing videogames and wasting money on unnecessary things or activities but you have shown a lot of wisdom and determination. I hope you keep holding this asset until you become an adult and independent. I want to also encourage you to keep adding to your investment now that you are depending on your parents because when you leave them it might become difficult to save. Keep saving mate.

Darker45

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You are doing the right thing, saving little by little in Bitcoin. Doing that with fiat is pointless as your money is only losing value continuously.

Tips? I think you need to learn about hardware wallets. Learn to self-custody what you have. I haven't heard about Stockpile but I doubt it is an open source non-custodial wallet. Also, don't be surprised and lose interest once the market goes through a severe winter. It has discouraged a lot. It has pushed many to panic sell, with a big loss. Learn to develop a diamond hand. It pays off in the end.

Edwardard

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Do you know a good resource for DCA BTC?

Do you mean a DCA calculator ? This site provides all the historical data for DCAing: https://dcabtc.com/

Dr.Osh

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That's a good start. There are lots of people out there who are your age but they are wasting their money on their current pleasures. After all, you only need to put a few percent of your money into such an investment so you can feel the benefits if the price goes up. It would be great if you keep your assets on a hard wallet, or maybe some of the popular exchanges out there right now.

traderethereum

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You can continue what you currently do by investing in bitcoin using DCA to save your money in bitcoin regularly.
I suggest you move the bitcoins to another separate wallet and don't combine them with your father's bitcoins.
Having bitcoins means you are responsible for those bitcoins so you must know how to store bitcoins properly.
You are young but want to learn how to invest in bitcoin so that if you can continue investing in bitcoin, you can earn good returns in the future.

Edwardard

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I'm not sure why I would be wanting respect from a btc community,

If mods/admins start to change usernames of all the ppl who request, it will create heck of a confusion between all to differentiate, coz you will have daily scammers trying to scam other newbies by changing their usernames quietly. I know its not your intention but still.

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I would literally receive nothing in return.

You are new thats why you dont know but with time you'll understand what respect can give you in this forum. Wink

Edwardard

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do u know how to change username haha

Its not possible for you. Some old members have been successful in changing their username by PM'ing theymos and Cyrus regularly.
However theres no chance they will listen to a brand new account. So your best bet would be to make a new one

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