Congratulations you have taken a good initiative you are investing money in such a way that even if this money is lost you will not get anything it is good for investors investing in bitcoins should be done with such steps because this is a very good future.
Looking at the screenshot you shared it is clear that it is CEX exchange screenshot if not wrong then it is Binance exchange. Since you want to buy or hold Bitcoin for a long time then Private Wallet is the better choice for you.
Topic: My first Bitcoin - page 4. (Read 1054 times)
Congratulations op for the hold step you took in purchasing your first Bitcoin. I like the fact that waited till you got a job before you began your investment journey, lots of newbies make the mistake of not seeking a job first and they end up going back to sell their coin when difficult times arise. I'll also advise you remove your coin from the exchange you used to a more secure custodian wallet like electrum, cause not your key not your coin. Exchanges might get hacked any day so to be on the safer side you have to move your coins. Having done that, I recommend you also make provision for emergency fund so that you'll not have to disturb your holdings in case of emergency were money is need to sort some things out.
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OP Congratulations as you have started your first bitcoin investment. As you mentioned you bought $110 worth of bitcoins if you buy it every month and hold it for a long time then good results await you. You can continue to invest in Bitcoin every month with DCA method as per your convenience. Since you have started investing, you need to invest patiently because you also need to make sure that you don't have to sell the investment when you need money. 
Good dear so many many congratulations to you on buying your first bitcoin. The second thing is that if you have a plan to buy more and want to hold your Bitcoin for long-term so the best thing is to save your Bitcoin at a safer place (hardware wallets, and mostly recommended Electrum wallet) to save your bitcoin because if in case exchange run away, your funds will no more available for you. These exchanges are centralized which means your funds are under their custody. Actually fetching fee of your amount from exchanges is very high so now you have to decide if would you like to fetch your amount still with the high fee or if would you still hold it on exchange with risk.
An electrum Bitcoin wallet is the best to safe your Bitcoin, and I suggest you make sure to use it because it's more safer than the binance exchange wallet that you are keeping your coins.
Moreover I am happy for you as you have bought a decent amount of Bitcoin, this is the perfect time for you to buy and accumulate Bitcoin because after this little time, bitcoin will go higher in price and the price of Bitcoin is what's making some people to not invest, but as you have started buying just make sure to keep holding it.
$110 per month will be a good amount to accumulated on Bitcoin but it will be good if you keep on buying every month.
Moreover I am happy for you as you have bought a decent amount of Bitcoin, this is the perfect time for you to buy and accumulate Bitcoin because after this little time, bitcoin will go higher in price and the price of Bitcoin is what's making some people to not invest, but as you have started buying just make sure to keep holding it.
$110 per month will be a good amount to accumulated on Bitcoin but it will be good if you keep on buying every month.
As long as he consistently buys Bitcoin for long-term investment, the amount of $110 per month will make him smile in the future. Even though the risks are very high, if you have patience and perseverance investing in Bitcoin can certainly provide satisfying results
Congratulations on the first bit of your Bitcoin, you are on a great journey financially and I can say that as I have done something similar when I joined the Bitcoin buying spree in March of 2020.
I really love when people start with small and not going all-in like a fool. Good Luck and I hope you continue buying these small bits and one day, you will reach the full 1 Bitcoin value.
I really love when people start with small and not going all-in like a fool. Good Luck and I hope you continue buying these small bits and one day, you will reach the full 1 Bitcoin value.
An electrum Bitcoin wallet is the best to safe your Bitcoin, and I suggest you make sure to use it because it's more safer than the binance exchange wallet that you are keeping your coins.
Moreover I am happy for you as you have bought a decent amount of Bitcoin, this is the perfect time for you to buy and accumulate Bitcoin because after this little time, bitcoin will go higher in price and the price of Bitcoin is what's making some people to not invest, but as you have started buying just make sure to keep holding it.
$110 per month will be a good amount to accumulated on Bitcoin but it will be good if you keep on buying every month.
Moreover I am happy for you as you have bought a decent amount of Bitcoin, this is the perfect time for you to buy and accumulate Bitcoin because after this little time, bitcoin will go higher in price and the price of Bitcoin is what's making some people to not invest, but as you have started buying just make sure to keep holding it.
$110 per month will be a good amount to accumulated on Bitcoin but it will be good if you keep on buying every month.
Congratulations for taking a bod step of investing on Bitcoin from salary, which is a very big seed you have invested for future and it can only take time and also being patient while holding.
Buying bitcoin is really a good thing and you have started really with good amount more than many other new beginners have started with, and one of the good thing is that you have a job which means you can be able to save it for long as you don’t need to focus on it for survival but your salary is what you use in buying.
From the image it’s clear that you use binance to buy the bitcoin and binance is not a wallet but a crypto exchange if you need to hold it for long you will need to use either the electrum which you have mentioned or you can make use of other none custodial wallet as have been suggested by other members.
Congratulations on your new holdings.
From the image it’s clear that you use binance to buy the bitcoin and binance is not a wallet but a crypto exchange if you need to hold it for long you will need to use either the electrum which you have mentioned or you can make use of other none custodial wallet as have been suggested by other members.
Congratulations on your new holdings.
Congratulations to you, investing in bitcoins to buy first bitcoins is a really good decision and hopefully the amount will be very good. There are many currencies to invest in crypto bitcoin investment is the right decision and if you analyze the market you will see all the previous records of bitcoin and this time bitcoin will break all its records. The price of Bitcoin went down but then went up again. It is good to keep some percentage of your income it will be good for future but for investment you have to use good and secure wallet.
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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.
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.
Keep accumulating and use the DCA strategy, there are lots of wallets you can use but Electrum is the best wallet for Bitcoin I used so far. Don't forget to set your strategy on your investment because take profit is needed to choose your next strategy.
congratulations to the OP for successfully investing his first bitcoin, whatever the amount it is, it is a good decision even if you look at your salary which is quite large, 5 digits in my country is quite a large amount. If it is true that your salary is 5 digits you should invest 1-2 btc but never mind, I'm sure there was a typo, but forget it now you have to have a personal wallet, don't store your BTC assets in exchange because it's very risky if you have a lot of them,
OP, congrats you bought your first bitcoin. Also, I pray that your new career goes well. It's normal to invest according to one's ability, you started with $110 monthly bitcoin investment which I think is a good amount. Bitcoin halving ahead looking at the historical events before and after Bitcoin halvings in the past, you can certainly expect that the price of Bitcoin is likely to surpass previous record highs. I hope you continue to invest your bitcoins using the DCA method every month and hold on to it, you will see a bull run at the end of the year. I see many have already given advice about wallets, of course you should take care of wallet security to keep your bitcoins 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.
Welcome to the hodlers gang. A good way to accumulate is by doing DCA, which is a bit by bit purchase of Bitcoin based on your financial strength. Since you're a salary earner, I'd suggest you go for a monthly DCA. 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?
Don't store your funds on an exchange. You may lose your funds if the exchange gets hacked, go bankrupt, or gets shutdown by the government. Get a personal wallet and store your bitcoin. Hardware wallets are the safest but if you cannot afford it, electrum, blue wallet or unstoppable wallet are quite good.
Congratulations on purchasing your Bitcoin, now that you own some Bitcoin I hope you'll continue accumulating more Bitcoin from now on. I would suggest you to make your own personal wallet and save your Bitcoin on that personal wallet of yours instead of allowing those on an exchange's custodial wallet. I would suggest you to learn about Electrum in detail and then create your own wallet with it, after that you may withdraw your Bitcoin from that exchange's wallet to your own personal wallet.
I don't see that you need any advice about the Electrum wallet, since you know about it and how to save the seed phrase. But reading that you had to work a lot to buy Bitcoins, I would like to advise you to allow yourself those amounts, the loss of which will not change your life for the worse.
I am sure that you have strong hands and that you will be a good holder of Bitcoin, but in the future, set yourself the goal of buying a hardware wallet since storing your valuables on your phone cannot be completely secure. Good luck!
OP should not store his bitcoin on phone and if he has a computer at home (desktop), it will be better device to store his bitcoin.I am sure that you have strong hands and that you will be a good holder of Bitcoin, but in the future, set yourself the goal of buying a hardware wallet since storing your valuables on your phone cannot be completely secure. Good luck!
Store coins on Binance is unsafe practice and OP will have to consider to withdraw it to his non custodial wallet like hardware wallet like you advised or if he can not buy a hardware wallet, he can use Electrum wallet. With single signature or multisig wallets and must use strong passwords.
[LIST] Open Source Hardware Wallets
How to back up a seed phrase
Congratulations on your first investment, you have tried for a long time and finally you have money and you have fulfilled your investment dream.
You are now in a dilemma as to where you should store your bitcoins. If you think that you will keep the amount invested for a certain period of time then using Electrum wallet is the right decision for you. If you have a long-term view of investment and plan to increase your investment with your salary every month, then you should rely on exchange wallets because buying and transferring bitcoins every month will require you to pay additional transaction fees, which will cost you a lot of money. I recommend you to use an exchange wallet so that extra transaction fees don't cause problems for your investment.
You are now in a dilemma as to where you should store your bitcoins. If you think that you will keep the amount invested for a certain period of time then using Electrum wallet is the right decision for you. If you have a long-term view of investment and plan to increase your investment with your salary every month, then you should rely on exchange wallets because buying and transferring bitcoins every month will require you to pay additional transaction fees, which will cost you a lot of money. I recommend you to use an exchange wallet so that extra transaction fees don't cause problems for your investment.
Congratulations on your first purchase of bitcoin and you have done so much well to have decided to use some part of your salary to invest in bitcoin which is the best decision you have ever taken, from the look out of your images uploaded above it seems to look like Binance interface. Please make sure download a trusted and reliable wallet to save your funds inside because there is a popular saying that says "Not your key not your coin" So move your funds to where you can have a dependency of your coin that leaving it inside exchange account. If you wanna trade with it then you are fine to leave it there maybe after accumulating much profits then you can decides to move out your profits from the exchange to better place to avoid being stolen or hacked that may be launched against the cryptocurrency exchange.
I recommend you to use a hardware wallet sincerely, it is the best investment you can make to secure your bitcoins, but you must take into account what use you are going to give to the bitcoin, you are going to send currently to other addreses? or just to store bitcoin? in my experience I recommend you to use as hot wallet, Exodus, user-friedly app (remember to save the seed phrase) and in the case of cold wallet, ledger or trezor could be your options but that is based on what you want ,the design, the budget etc... just hope you the best in this btc community brother and remember never ever let your coins rest in exchanges.
Whoa whoa, slow down with your recommendations, let OP breathe a little, as OP have said already, that they're new to bitcoin. I don't think OP needs to secure that fast when there are more cheaper options like a TrustWallet or a Blue Wallet for Android devices, he's already considering Electrum wallet so I don't think that it's necessary for OP to even consider hardware wallets especially those that have a close source. I'd say that OP should take his time and explore bitcoin and the forum to know more about the bitcoin landscape and see how OP will want to approach things in the future.Welcome to the bitcoin market OP, enjoy your hodling journey and I do hope that you would find a lot of profits from doing that journey. My only advice to you is to learn DCA or Dollar Cost Averaging, pretty good strategy for long term bitcoin accumulation because you don't want to be not maximizing out your investing opportunities if you can help it.
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