Congratulations on your new job and your decision to invest in Bitcoin! It's great to see you taking steps towards accumulating more of it. Regarding your question about storage, it's crucial to prioritize the security of your Bitcoin. While using a third party might be convenient, it may not always be the safest option.
Apart from Electrum, there are several other reliable wallets you can consider:
Hardware Wallets: These are physical devices that store your private keys offline, making them highly secure. Examples include Ledger Nano S, Ledger Nano X, and Trezor.
Mobile Wallets: Apps like Trust Wallet, Exodus, or Mycelium are user-friendly and offer a good balance of security and convenience.
Desktop Wallets: Software you can install on your computer, such as Atomic Wallet or Exodus, which provide enhanced security features.
Web Wallets: If you prefer online wallets, ensure you choose a reputable platform that offers robust security features.
For those exploring crypto exchange options, platforms like Atpayz can be helpful for exchanging cryptocurrencies securely. Always remember to do thorough research and enable two-factor authentication for added security. Happy investing!
Topic: My first Bitcoin (Read 1680 times)
I would advise all newbies who read this to use one of these wallets: Electrum, Exodus, Trust.
I have been using all of these wallets for a long time and they are all good and time-tested.
Electrum is the only wallet that has an open source code, and you can be sure of its honesty.
Trust is an old development of Binance and it is very beautiful and convenient.
Exodus is just a good wallet. Probably the best of them I will appoint Electrum, but its interface is not very convenient.
I have been using all of these wallets for a long time and they are all good and time-tested.
Electrum is the only wallet that has an open source code, and you can be sure of its honesty.
Trust is an old development of Binance and it is very beautiful and convenient.
Exodus is just a good wallet. Probably the best of them I will appoint Electrum, but its interface is not very convenient.
No, i Said 0.0025
its yours no one can hinder you from having it.First of all congrats on holding bitcoin. It is a very good decision that you are interested in investing in bitcoins besides your job, I applaud you for this decision. But in case of bitcoin investment you must have long term plan if you can hire with long term plan you will definitely get enough success for the purpose you have invested. Many times it is seen that while investing one time lost the door many big investors lose patience so patience is very important thing if we can invest patiently for long term surely we will get enough profit from AB recruitment which is more for us to invest Will interest. If we can invest in Bitcoin at the right time and do it for the long term, surely we can change our fortunes with this Bitcoin investment.
I agree that bitcoin is definitely and should be used for the long-term. I have seen some people discourage others from trading bitcoin. It is volatile yes but if you want to make profit, go and find much more volatile coins not bitcoin. Bitcoin should be bought and held for a long period of time. There’s still more growth to bitcoin so even if it is expensive now, do not double think about buying some.
No, i Said 0.0025
Welcome to the Club, so you are going to buy every month 0.0025 btc right? if so its mean you will have 0.03 within 12 months and 0.09 in 3 years and in 11 years you will have your first bitcoin. 
Doesn’t that depend on the price of Bitcoin in 11 years?
Welcome to the Club, so you are going to buy every month 0.0025 btc right? if so its mean you will have 0.03 within 12 months and 0.09 in 3 years and in 11 years you will have your first bitcoin.
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There is something wrong with keeping your funds on an exchange. If maybe you want to trade it the next day, it may be an excuse, but anything can always happen at anytime. And if you put your funds in a wallet and lose the private key then that's totally on you. And there's a difference between that and an exchange being the issue. I am conscious of not keeping my money on exchanges. People who may do that are daily traders who scalp.
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There is something wrong with keeping your funds on an exchange. If maybe you want to trade it the next day, it may be an excuse, but anything can always happen at anytime. And if you put your funds in a wallet and lose the private key then that's totally on you. And there's a difference between that and an exchange being the issue. I am conscious of not keeping my money on exchanges. People who may do that are daily traders who scalp.
I think so because he really work hard to get the money from his salary to invest in BTC to achieve a big money from his hodling, which is the best way to grow financially in the industry, i believe he will like to buy more and hodl for long years before he will sell to experience second profit from BTC.
I believe, he is aware not to invest what you cannot afford to lose in BTC business because the business is not what you can predict accurately all the time, and if you put big money at once and something happen to the market to cause you loss, you will not hodl anybody responsible for your loss.
Having other sources of income will help you to endure through out the bear run, because the price of BTC will be dumping to make people BTC in their wallets to lose value at the moment, but if you have other sources of income, it will help you not to sell in the bear run than to wait for the bull run before you can sell.
I completely agree with you. It is admirable that he is working hard to invest in Bitcoin understanding potential for long term financial growth. He is taking smart approach by hodling for years allowing his investment to compound. He is also aware of risks and is not investing more than he can afford to lose crucial mindset in unpredictable crypto market. By diversifying his income streams he will be able to weather any market downturns and avoid selling during bear runs waiting for the bull runs to maximize his profits. His disciplined approach will likely yield significant returns in the future. I believe, he is aware not to invest what you cannot afford to lose in BTC business because the business is not what you can predict accurately all the time, and if you put big money at once and something happen to the market to cause you loss, you will not hodl anybody responsible for your loss.
Having other sources of income will help you to endure through out the bear run, because the price of BTC will be dumping to make people BTC in their wallets to lose value at the moment, but if you have other sources of income, it will help you not to sell in the bear run than to wait for the bull run before you can sell.
You shouldn’t store your bitcoin on an exchange. Not just bitcoin. Don’t store any cryptocurrency there: the essence of exchanges is to exchange cryptocurrencies and not to store them. These centralized exchanges can have issues or down time or some sort of problem that hinders you from your money. It isn’t something that happens often but it is very possible. Doesn’t sound extremely safe.
There is nothing wrong with keeping our coin on exchanges especially if it is a little percent of our portfolio, maybe for the sake of trading it with other coin pairs it swapping it to altcoins to make more money. We need to know what we are doing so that we don't just keep thinking that putting a little percentage of our Bitcoin holdings on exchanges is a bad idea. Our we need to be prepared for the consequences that could come along which is one reason one need to be aware and understand what exchange is all about. It would be wise for us to keep our Bitcoin in a place where it will be safe because even putting it in a private wallet and the key get lose could lead to a big problem. There is something wrong with keeping your funds on an exchange. If maybe you want to trade it the next day, it may be an excuse, but anything can always happen at anytime. And if you put your funds in a wallet and lose the private key then that's totally on you. And there's a difference between that and an exchange being the issue. I am conscious of not keeping my money on exchanges. People who may do that are daily traders who scalp.
There is nothing wrong with keeping our coin on exchanges especially if it is a little percent of our portfolio, maybe for the sake of trading it with other coin pairs it swapping it to altcoins to make more money.
I'm sure there are still some people who leave Bitcoin on exchanges. but maybe their needs are different. if the goal is long term, of course, it would not be a good idea to keep it on the exchange. and perhaps the problem of transaction costs which are sometimes very inflated could be the reason if you are a trader.
However, exchanges are not the best place to store Bitcoins. Even though saving in your wallet still has risks, we still have to choose the smallest risk. we never know what disaster will come to us.
Having other sources of income will help you to endure through out the bear run, because the price of BTC will be dumping to make people BTC in their wallets to lose value at the moment, but if you have other sources of income, it will help you not to sell in the bear run than to wait for the bull run before you can sell.
having other income would be good and it could protect our Bitcoin investment from being disturbed by the urgent needs that Bitcoin holders often experience.but I think there is no need to be fanatical when our thinking is profit. investors understand Bitcoin market patterns. when we can profit when it pumps, why should we survive when it dumps? unless there is a planned time frame for it to be achieved. and the issue of pump or dump prices will not be considered at any given time.
Quote from: blckhawk
I feel like people have already told you that hodling is the key to bitcoin investing and that it should be always for the long-term. Not bad for your first bitcoin purchase but I think that you should heed what others are saying about this particular case, don't put too much money in your investments because you might not like it when the price starts falling hard, some newbies will panic that their bitcoin investment is losing value and you might not be ready for it so make sure that you're equipped to handle that at the least.
I think so because he really work hard to get the money from his salary to invest in BTC to achieve a big money from his hodling, which is the best way to grow financially in the industry, i believe he will like to buy more and hodl for long years before he will sell to experience second profit from BTC. I believe, he is aware not to invest what you cannot afford to lose in BTC business because the business is not what you can predict accurately all the time, and if you put big money at once and something happen to the market to cause you loss, you will not hodl anybody responsible for your loss.
Having other sources of income will help you to endure through out the bear run, because the price of BTC will be dumping to make people BTC in their wallets to lose value at the moment, but if you have other sources of income, it will help you not to sell in the bear run than to wait for the bull run before you can sell.
You shouldn’t store your bitcoin on an exchange. Not just bitcoin. Don’t store any cryptocurrency there: the essence of exchanges is to exchange cryptocurrencies and not to store them. These centralized exchanges can have issues or down time or some sort of problem that hinders you from your money. It isn’t something that happens often but it is very possible. Doesn’t sound extremely safe.
There is nothing wrong with keeping our coin on exchanges especially if it is a little percent of our portfolio, maybe for the sake of trading it with other coin pairs it swapping it to altcoins to make more money. We need to know what we are doing so that we don't just keep thinking that putting a little percentage of our Bitcoin holdings on exchanges is a bad idea. Our we need to be prepared for the consequences that could come along which is one reason one need to be aware and understand what exchange is all about. It would be wise for us to keep our Bitcoin in a place where it will be safe because even putting it in a private wallet and the key get lose could lead to a big problem.
I feel like people have already told you that hodling is the key to bitcoin investing and that it should be always for the long-term. Not bad for your first bitcoin purchase but I think that you should heed what others are saying about this particular case, don't put too much money in your investments because you might not like it when the price starts falling hard, some newbies will panic that their bitcoin investment is losing value and you might not be ready for it so make sure that you're equipped to handle that at the least.
You shouldn’t store your bitcoin on an exchange. Not just bitcoin. Don’t store any cryptocurrency there: the essence of exchanges is to exchange cryptocurrencies and not to store them. These centralized exchanges can have issues or down time or some sort of problem that hinders you from your money. It isn’t something that happens often but it is very possible. Doesn’t sound extremely safe.
Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
It is very commendable that you have invested some money from your salary in Bitcoin. But since you are investing your hard-earned money in Bitcoin, you must have a good understanding of its risks. It is not right to think that investing in Bitcoin will make you a quick profit. If you have to hold your bitcoin for a long time then you can make a good amount of profit from it. So you can invest a part of your monthly salary in Bitcoin. Then it will go through the DCA technique. And if you hold these for a long time you will get good amount of profit. If your investment amount is huge then you can shift to hardware wallet. Otherwise you can continue using electrum walletmonth of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
snip
Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
From the screenshot you have provided it looks like the exchange you are holding your bitcoins on is Binance.
While Binance is a reputed exchange it is still not the best option to hold your coins in there.
You can store your coins in a non-custodial wallet like Mycelium, Electrum etc...
Just keep reading various threads on this forum and start you can gain more knowledge on bitcoin.
You can read the articles from below website to know more.
https://www.lopp.net/bitcoin-information.html
First of all congrats on holding bitcoin. It is a very good decision that you are interested in investing in bitcoins besides your job, I applaud you for this decision. But in case of bitcoin investment you must have long term plan if you can hire with long term plan you will definitely get enough success for the purpose you have invested. Many times it is seen that while investing one time lost the door many big investors lose patience so patience is very important thing if we can invest patiently for long term surely we will get enough profit from AB recruitment which is more for us to invest Will interest. If we can invest in Bitcoin at the right time and do it for the long term, surely we can change our fortunes with this Bitcoin investment.
Even if you have to wait 4 years. In any case, once a year you can definitely make a profit
To be honest I’d be alright with waiting for 4 years before I take profit from bitcoin given that I have a stable job anyway. Bitcoin investment shouldn’t be treated as your daily income kind of job unless of course you are trading then you can expect at least a regular flow of money. I can wait for 4 years and at least I know that I can live comfortably after I take profit from my investments.Jump to: