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Topic: My first Bitcoin - page 2. (Read 1054 times)

legendary
Activity: 2366
Merit: 2342
February 10, 2024, 02:40:59 PM
#93
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.
Right now your coins are stored in a centralized exchange, that means that you have no control over them because yes, they are in your account, but if something happens to the exchange (which I don't think it will anyway, that's Binance, the biggest in the world), you lose everything. At the same time I would suggest you not to rush to move your bitcoins, before make sure you understand how wallets work, then you move the coins.
sr. member
Activity: 784
Merit: 256
Binance #Smart World Global Token
February 10, 2024, 02:15:12 PM
#92

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.

The answer is obvious, just look up and you will see a link to a new bitcoin wallet. Especially for people like you, they publish the latest version of the wallet, at the very top of the forum.

"News: Latest Bitcoin Core release: 26.0 [Torrent]"
legendary
Activity: 2380
Merit: 1231
Leading Crypto Sports Betting & Casino Platform
February 10, 2024, 01:11:25 PM
#91
Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.
When I first started investing, the Bitcoin market went down a lot within a few days of investing. At that time I got frustrated and sold the invested Bitcoins. I suffered a lot of losses. I was new to investing at that time.  No. As a result, I have faced a lot of losses by investing without understanding in the first place. I have now gained a good understanding of Binion and recovered those losses very easily.
It is normal to make mistakes in the first place. Volatility is in nature on the market prices of crypto and with loss, those are temporary as long as you are not selling. Endurance of loss is crucial however, circumstances are really pushing people which yield to permanent loss. Again, such thing is normal as long as you learn from it. But I never assumed things to be easy even if you understand how things work in this industry. Prices are way unpredictable and patterns are only guides and will never guarantee certainty.
Please don't tell people how much money you make or even that you own bitcoin if you can't help it.  It's no one else's business but your own and that kind of information should be kept private. 

I want to say congrats though on the new job!  Just make sure you're well diversified ( no matter what anyone here says, remember they most likely aren't licensed financial professionals) and you understand that your bitcoin balance can highly fluctuate, up or down. 

You've got plenty of advice here already but I'm a fan of Trezor, Cold Cards, Jade and I guess BitBox wallets are pretty legit too.
It is okay to share what you are doing with other people but be careful with the informations you will be sharing with them because impressions could last. May people are having misunderstanding of what this technology is all about. Many people think that investing in this blockchain will yield to easy profit and as we all know, it is not that easily done, if it is true then many people should be rich by now right? But given that ony a few are succeeding it should be an enough warning to those who are planning to invest, to learn its concept first and avoid being too optimistic of it.
member
Activity: 602
Merit: 17
#SWGT PRE-SALE IS LIVE
February 09, 2024, 09:21:05 PM
#90
Trust wallet is good to store your Bitcoin, as long you save the phase code and password, and avoid connecting wallet in website because of phishing link's, trust wallet is good and safe.

LoL, you are still living in fool's paradise, because holding bitcoins in a trust wallet is not safe. Suitable wallets for holding Bitcoins Hardware wallets are most suitable. Among the software wallets, Bitcoin wallet, Electrum wallet, Mycelium wallet, etc. wallets are safe because these wallets are less likely to be hacked. But trust wallet is relatively weak security completely because it is all connected with google. So I never consider trust wallet as secure, because stronger wallets exist.
legendary
Activity: 2240
Merit: 3002
February 09, 2024, 07:25:01 PM
#89
Please don't tell people how much money you make or even that you own bitcoin if you can't help it.  It's no one else's business but your own and that kind of information should be kept private. 

I want to say congrats though on the new job!  Just make sure you're well diversified ( no matter what anyone here says, remember they most likely aren't licensed financial professionals) and you understand that your bitcoin balance can highly fluctuate, up or down. 

You've got plenty of advice here already but I'm a fan of Trezor, Cold Cards, Jade and I guess BitBox wallets are pretty legit too.
jr. member
Activity: 70
Merit: 6
February 09, 2024, 06:29:08 PM
#88
Let me give you an insight into what happen to a woman in my street. During the time of Naira scarcity in Nigeria due to the Central Bank Of Nigeria's cashless policy in 2023, a business woman was interested in opening an online bank account with Opay Digital services because of the companies cash back policy on transactions and free transfer policy.

But she lacked the know how on how to open and operate the application, so she contracted someone to open it for her in his phone so that she can be using his phone to monitor transactions, she did all of this because of trust.

But, unknown to her , the young man has been using her business account the man opened for her to place bets online to the sum of 30 thousand Nigerian Naira. When she discovered , the young man behaved as if he does not know what happened that funds are missing, until she called another expert to check for her.

This is a likely scenario you are suspecting that may happen. It is simple if you don't want to transfer the bitcoins to another account, change the password and write it down somewhere.
sr. member
Activity: 966
Merit: 276
★Bitvest.io★ Play Plinko or Invest!
February 09, 2024, 07:53:16 AM
#87

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.

Hey! Congrats on your first bitcoin investment, That's good to hear that you bought that from your own salary, at least the money you worked hard for went somewhere and wasn't wasted on something meaningless. About the security, Why don't you try to use hardware wallet? or you should try trust wallet, since that's the most recommendable wallet and many users has been testify it's security. I will not suggest binance especially if we are in the same country because there's still no update about the issue between binance and SEC.
jr. member
Activity: 357
Merit: 3
Chainjoes.com
February 09, 2024, 07:11:45 AM
#86
Trust wallet is good to store your Bitcoin, as long you save the phase code and password, and avoid connecting wallet in website because of phishing link's, trust wallet is good and safe.
hero member
Activity: 966
Merit: 548
February 09, 2024, 05:55:53 AM
#85
First experienced most excited with investing in bitcoin and ever with OP position how happiness after success investing my money in bitcoin, although had small amount for investing than OP but its so amazing journey have been bitcoin investor. For saving your bitcoin assets its not matter in Binance and you look purchase bitcoin there, Binance is more securing exchange market and you will get paying few fees transaction if want hold in your own wallet such as electrum or using trustwallet for holding bitcoin.

No matter how slow your progress as long as you are working on it, you will be moving forward soon and know exactly what you gonna do next because you already managed to gain the necessary experience on how to invest in bitcoins and secure it. that's the important matter when it comes to holding bitcoins and you are doing right when you decide just to hold a small amount of it until you become a pro when keeping it securely next time you decide to buy a huge amount of bitcoins, you already know what to do and the things you won't do.
No matter with slow progress for investing in bitcoin regarding not all people have stable financial and already investing in bitcoin, I think small or large amount for investing in bitcoin exactly for the first time is not problem during has decision for the next time will purchase large amount and consistency keep accumulate investing in bitcoin every time. Keep be loyal holder with bitcoin as long term investment and will earn much benefit in the future exactly when bitcoin raising to the higher price.
sr. member
Activity: 1414
Merit: 361
February 09, 2024, 05:54:01 AM
#84
Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.
When I first started investing, the Bitcoin market went down a lot within a few days of investing. At that time I got frustrated and sold the invested Bitcoins. I suffered a lot of losses. I was new to investing at that time.  No. As a result, I have faced a lot of losses by investing without understanding in the first place. I have now gained a good understanding of Binion and recovered those losses very easily.
sr. member
Activity: 2072
Merit: 337
February 09, 2024, 02:53:53 AM
#83
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?.
What do you mean by "there"? Do you mean that you have used a third-party service to buy Bitcoin and have your Bitcoin stored on their platform? If yes, then I would suggest you take them out and store them privately in a non-custodial wallet.

What's wrong with Electron? If your bought amount isn't that high, you can use Electron without any issues as long as you make it secure with a password and keep your seed phrase and private keys safe and secure.

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's simple, you earn money and then use that money to accumulate Bitcoin, but make sure that you are only using the money that isn't supposed to be used for something else so that you don't have to worry if the market doesn't go in your desired direction.
sr. member
Activity: 1097
Merit: 310
February 08, 2024, 11:28:56 PM
#82
Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.
hero member
Activity: 2142
Merit: 584
You own the pen
February 07, 2024, 06:24:30 AM
#81
Congratulations.  Your concern is very good.  As your amount till now is very less.  So electrum wallet is enough for you.  If you have more bitcoins then you can move to Hadware wallet.You continue to buy bitcoins like this.  Your plan is very good.  If you hold for a long time you will gain a lot.The price of Bitcoin is increasing a lot.  It can release the previous ATH.  In this you will get good quality profit.

No matter how slow your progress as long as you are working on it, you will be moving forward soon and know exactly what you gonna do next because you already managed to gain the necessary experience on how to invest in bitcoins and secure it. that's the important matter when it comes to holding bitcoins and you are doing right when you decide just to hold a small amount of it until you become a pro when keeping it securely next time you decide to buy a huge amount of bitcoins, you already know what to do and the things you won't do.
member
Activity: 364
Merit: 10
February 07, 2024, 05:26:32 AM
#80

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.
Congratulations.  Your concern is very good.  As your amount till now is very less.  So electrum wallet is enough for you.  If you have more bitcoins then you can move to Hadware wallet.You continue to buy bitcoins like this.  Your plan is very good.  If you hold for a long time you will gain a lot.The price of Bitcoin is increasing a lot.  It can release the previous ATH.  In this you will get good quality profit.
full member
Activity: 467
Merit: 100
Binance #Smart World Global Token
February 07, 2024, 05:03:18 AM
#79
Welcome to the crypto world. Regardless of the amount, it is important to start.
Regardless of the amount you say… i think $110 is a good enough amount for a start. At least, this is someone that just started earning 5 figures for a pay grade even though the user didn’t specify on what currency and having to use $110 out of it to buy Bitcoin is a good place to start.
Hope the user gets to continue and more importantly, learn how to secure what you’ve gotten, not going about to look out for means to multiply the coin by trying to stake it on some platform, may be join in a cloud mining or perhaps trade it,,, these are always a tempting option but, you just might loss your coin in the process.
As you learn, learn security too, it’s very important to not break faith in the system.
$110 is good amount for a beginner to start with, might be he has been saving some funds for a while and he has bought some Bitcoin with it, I just hope he can continue buying such a decent amount every month.
The OP is not sure if the exchange his Bitcoin is are secure that's why he's asking but since then he hasn't say a word about how he's going around with he's investment, if he has moved it to a more secured wallet like electrum.
Yes, investing $110 is a good amount that can generate enough profit once the Bitcoin price increases. However, it would be even better if he continues to invest regularly, as the more he invests, the more profit he could potentially make. Furthermore, Bitcoin is a good option for long-term investment, and he is unlikely to regret his decision.
full member
Activity: 182
Merit: 152
Never give up
February 07, 2024, 03:54:37 AM
#78
Welcome to the crypto world. Regardless of the amount, it is important to start.
Regardless of the amount you say… i think $110 is a good enough amount for a start. At least, this is someone that just started earning 5 figures for a pay grade even though the user didn’t specify on what currency and having to use $110 out of it to buy Bitcoin is a good place to start.
Hope the user gets to continue and more importantly, learn how to secure what you’ve gotten, not going about to look out for means to multiply the coin by trying to stake it on some platform, may be join in a cloud mining or perhaps trade it,,, these are always a tempting option but, you just might loss your coin in the process.
As you learn, learn security too, it’s very important to not break faith in the system.
$110 is good amount for a beginner to start with, might be he has been saving some funds for a while and he has bought some Bitcoin with it, I just hope he can continue buying such a decent amount every month.
The OP is not sure if the exchange his Bitcoin is are secure that's why he's asking but since then he hasn't say a word about how he's going around with he's investment, if he has moved it to a more secured wallet like electrum.
legendary
Activity: 1414
Merit: 1108
February 06, 2024, 05:29:18 PM
#77
Welcome to the crypto world. Regardless of the amount, it is important to start.
Regardless of the amount you say… i think $110 is a good enough amount for a start. At least, this is someone that just started earning 5 figures for a pay grade even though the user didn’t specify on what currency and having to use $110 out of it to buy Bitcoin is a good place to start.
Hope the user gets to continue and more importantly, learn how to secure what you’ve gotten, not going about to look out for means to multiply the coin by trying to stake it on some platform, may be join in a cloud mining or perhaps trade it,,, these are always a tempting option but, you just might loss your coin in the process.
As you learn, learn security too, it’s very important to not break faith in the system.
member
Activity: 224
Merit: 11
Tontogether | Save Smart & Win Big
February 06, 2024, 02:29:28 PM
#76
Welcome to the crypto world. Regardless of the amount, it is important to start. Hopefully you will be a large holder in the future in the range you started with. Which will help you to make more profit in future. Investing in cryptocurrency requires a lot of courage. Because you can't invest in Bitcoin without knowledge and courage. I first started with $124.
member
Activity: 812
Merit: 53
February 06, 2024, 01:37:24 PM
#75
Many many Congratulations to you sir. You are doing great that you are saving your money in bitcoin. It will give you good profit in the future. Because, bitcoin price is increasing day by day and you will also get good profit on this saving that you are doing at this stage. I really appreciate your idea. And i advice everyone that save a little amount from your income for future.
full member
Activity: 1176
Merit: 118
★Bitvest.io★ Play Plinko or Invest!
February 06, 2024, 09:15:31 AM
#74
How can you buy BTC from someone and still leave the BTC in the person wallet because, it look like the write up is not too clear to me or that is the truth of your first BTC. what if something bad happen to that person you leave the BTC for, do you think the person family will accept the story you are going to tell them, that you bought BTC from he or she and you leave it with he or her to hodl till you search for the safe wallet before you can collect the BTC back.

Electrum is a safe wallet  you can store your BTC if you will take my advise because, many users have confirmed it for the long bear run that made them to continue hodling the BTC in their wallets till bull run occur before they can sold to make profits.
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