I have considered non custodial wallets the best way to save your crypto assets and most importantly, the offline wallets.
Trustwallet, Solflare and Phantom and a few others are good non custodial and then if you consider offline wallets, you should look at leger and trezor wallets to do the magic but ensure you are not buying them from a third party or something
Topic: My first Bitcoin - page 6. (Read 1661 times)
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.
I'm grateful for this journey. Since its inception, Bitcoin has amassed some cryptocurrency. After getting your salary, you can keep it if you'd want in Bitcoin form. These days, I believe that if you keep your money in Bitcoin, it will be a better option than having it in multiple institutions.
but starting from this month of January I have gotten a new job that pays me 5 figures a month
If your job is fixated on btc payment then you can do it its ok for you. 
Congratulations on your first Bitcon purchase! Even all the big whales we have today all started somewhere, and this $150 is a reasonable amount if we are to convert it to my local currency. Me, I didn't even start that big. For the time being, I will advise you to buy with what you can afford.
The month just ended yesterday and you bought your first bitcoin. To me, you could have done a little math based on what you will spend for the month and what will be left for you. I said this because we do have some unforeseen expenses that we don't budget for, and if you have used up the savings you could have used to settle those, you might be tempted to touch what you just bought to hold. The longevity of holdings started with smart planning.
The month just ended yesterday and you bought your first bitcoin. To me, you could have done a little math based on what you will spend for the month and what will be left for you. I said this because we do have some unforeseen expenses that we don't budget for, and if you have used up the savings you could have used to settle those, you might be tempted to touch what you just bought to hold. The longevity of holdings started with smart planning.
Get a hardware wallet, now you may think that it may be a waste of money to pay for something that you could get for free, and in a way you may have a point, as if you know how to secure your coins and the device in which they are stored, you do not really need to buy a hardware wallet, however since you are a newbie and you are still in your learning phase, the best you can do is to buy a hardware wallet so you can easily secure your coins and they are safe from hackers and scammers.
Although I understand your point, I don't think a hardware wallet is necessary in the OP's case. It's still extremely early; the OP just purchased his first Bitcoin, worth $110; the Electrum wallet will work just fine in this case and probably in most cases if you're careful enough and avoid downloading torrents or anything suspicious. I see that the OP has purchased through Binance, which is also fine for smaller amounts or for short periods; after all, it's the largest exchange of all; no need to get paranoid.Anyway, congratulations, OP, for entering the Bitcoin scene. Keep DCA-ing, and you should be fine if you're budgeting correctly. My advice is to keep purchasing Bitcoin and transfer them to Electrum for every few purchases.
I'm just curious, if you don't mind, what do you mean by the five figures you mentioned? Do you mean your monthly salary is in the 5 digits? Then which country do you live in, and what currency do you use there in the country you belong to? I'm sorry if my question is a bit personal.
Because if it's in US dollars, you're making a lot of money in that case. But anyway, I still congratulate you on the first step you took. That's why it's better not to hide the Bitcoin you bought from a third party; it's better to buy a hardware wallet, or in the meantime, use Electrum, Exodus, Unstoppable, or others, depending on your choice.
Because if it's in US dollars, you're making a lot of money in that case. But anyway, I still congratulate you on the first step you took. That's why it's better not to hide the Bitcoin you bought from a third party; it's better to buy a hardware wallet, or in the meantime, use Electrum, Exodus, Unstoppable, or others, depending on your choice.
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.
Get a hardware wallet, now you may think that it may be a waste of money to pay for something that you could get for free, and in a way you may have a point, as if you know how to secure your coins and the device in which they are stored, you do not really need to buy a hardware wallet, however since you are a newbie and you are still in your learning phase, the best you can do is to buy a hardware wallet so you can easily secure your coins and they are safe from hackers and scammers. month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.
So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.
but starting from this month of January I have gotten a new job that pays me 5 figures a month
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Five figures a month you say? In what currency if I may ask?
That's the main question, haha.
If he says he earns 5 figures a month but will "only" invest like 100$ this doesn't add up.
So I doubt it will be $ or euro. Since he is posting in the Nigeria section (I just checked) I guess we have our answer. The problem though, 10000 naira is only 11$ .
That means even a 6 figures payday wouldn't be much money.Anyway, it's always nice to hear stories from new bitcoin holders and supporters. Hopefully the support will only rise from here so that btc never dies.
Yeah. Thats exactly why I asked. I saw the same thing about Nigeria in his profile. That makes me think maybe he was talking about Nigerian Naira instead of US dollars and because 5 digits worth of Naira isnt actually a huge amount of money. It is definitely not enough to invest $100 in Bitcoin like he said. So Im guessing maybe he just accidentally said 5 digits when he meant to say 6.
Keep purchasing them every month, then you will be richer than any other people.
Don't forget, "don't pull all eggs in one basket". BTC is not the only crypto you can invest, there are plenty of options
Don't forget, "don't pull all eggs in one basket". BTC is not the only crypto you can invest, there are plenty of options
Actually this is confusing as how can you work so hard when you have no JOB? mind explaining this for us to really believe that you are talking here?
When someone is striving hard to attain something, it could also be said that person is working hard towards achieving that particular thing. It’s actually not confusing. It isn’t necessarily a job when one talks about working hard. You could work hard in your chores or in your studies. Not just in your workplace.
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another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us above that you are working so hard to invest in bitcoin?
When after working hard and finally thought it appropriate to put in the amount he did, why should you or anyone else have a problem with it?
$110 to a great extent, is a good amount to start with for someone fairly new to bitcoin and I applaud him on that move.
OP welcome on board the Bitcoin Family and congratulations on a dream come through in your end for finally getting some stackingsome stats ,You have taken the right step forward, I hope you have good understanding of how Bitcoin works, the risk involved and the benefits too , in terms of the benefits, Bitcoin is a safe heaven assets against inflation and a store of value, and you will have the opportunity to oversee your funds, nevertheless ensure you buy with proper DCA method and don't go in all at once.
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.
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.
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.
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