My first Bitcoin - page 6. | Bitcointalksearch.org

Pokapoka124

hero member

Activity: 1120

Merit: 555

Quote from: Reatim on January 31, 2024, 07:09:06 PM

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?

$110 is a decent amount of money. For someone earning five figures in naira, I would say OP outdid himself. As a rule of thumb, you should invest what you can afford to lose. If $110 is what OP can afford to risk, that’s his prerogative.

Other than scrutinizing the OP, do you have any advice for the OP. I have been seeing a lot of threads from newbies about how older members are harsh towards them. Reading your comment on this thread, I understand why they feel that way.

BABY SHOES

sr. member

Activity: 294

Merit: 433

HODL - BTC

Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

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's not safe to keep your coins on an exchange it's more risky if the exchange gets hacked, or collapses due to bankruptcy.
I just heard of Electron? What kind of wallet is that, do you mean Electrum?
There are software wallets that you can use to store your BTC by having full control of the seed phrase, you can also use hardware wallets by purchasing but these cold wallets are the most secure way.

Quote from: Stalker22 on January 31, 2024, 05:54:15 PM

Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

but starting from this month of January I have gotten a new job that pays me 5 figures a month
~

Five figures a month you say? In what currency if I may ask?

I think it's in Nigerian currency, but I don't know what 5 digits is a dollar? I think it's pretty big, especially with $110 investment every payday. wow Shocked

Reatim

sr. member

Activity: 2772

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job,

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?

Quote

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,

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?

Quote

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.

You said that LONG TIME AGO you wanted to Buy Bitcoin , But up to this part you dont know what to do? the very moment that you consider buying then you have dig the formula to how can you buy and where to store it safely, sorry but you seems to be having different plans than asking this questions.

Pokapoka124

hero member

Activity: 1120

Merit: 555

Congratulations on your new job and also buying your first bitcoins. I will advise you to move your bitcoins from Binance to a non custodial wallet like Electrum or Blue wallet.

[General] Bitcoin Wallets - Which, what, why

Quote from: Stalker22 on January 31, 2024, 05:54:15 PM

Five figures a month you say? In what currency if I may ask?

Naira, I think. OP has made a couple of posts in the Nigerian local board, I assume he is Nigerian.

Quote from: Emmanuelex on January 31, 2024, 06:23:00 PM

Congrats on your first 👏🏽
You can store on any of the decentralized wallets like Trust Wallet, it's a popular choice that i knkw a lot of people use. Good luck

That’s not true. Trust wallet runs on centralized servers so it's cannot be classified as decentralized, and to top it off, Trust wallet is closed source.

2Pizza410000BTC

full member

Activity: 336

Merit: 185

Eloncoin.org - Mars, here we come!

Congratulations on investing in Bitcoin. Whatever amount you can invest, try to invest consistently using the DCA method. If you always invest in Bitcoin using DCA method then surely you will get good success.

Since you are asking for advice I would suggest you keep your investment in your own wallet. Because investing in any exchange wallet looks very risky. Since you have heard of Electrum wallet to keep your investment, you have not chosen a bad wallet. Electrum wallet is definitely good if you can keep the seed phrase very safe. There are also many other wallets that you will get to know if you are active here regularly. But of course you should keep your wallet seed phrase very safe so that no one can steal it somehow.

Emmanuelex

jr. member

Activity: 105

Merit: 1

Congrats on your first 👏🏽
You can store on any of the decentralized wallets like Trust Wallet, it's a popular choice that i knkw a lot of people use. Good luck

Assface16678

full member

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Merit: 134

★Bitvest.io★ Play Plinko or Invest!

Well, as they say, better start no matter how much it is. Congratulations on your courage to start investing in the bitcoin or crypto currency world. The fact that you've allocated an amount of money to buy an asset means you have the will to continue investing in crypto. This may be the start of your journey, but remember, you're not just going to buy and sell; I think you know that you need to hone your knowledge and skills in terms of crypto currency or bitcoin if you want to focus on one currency only for the time being.

I guess you should move your holdings to a cold wallet rather than a secured wallet if you will just hodl an asset because storing it on a platform like Binance is unsafe. I mean, just to make sure that your asset will be untouched secured. Im not saying that Binance is not a secured platform; its just to make sure that nothing will compromise your asset.

Rikafip

legendary

Activity: 1722

Merit: 5937

Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

So, is it safe for me to store my coin there

Nope. Binance (and any other centralized exchange) is one of the worst possible places to store your bitcoin and should be moved as soon as possible,just keep in mind that withdrawal fee is not negligable.

Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

I know of electron but apart from the electron is there any other wallet which is safe?.

I guess you meant to say Electrum?Anyway, Electrum is one of the best bitcoin wallets so it should be on top of your list. If (when) you can afford it, hardware wallet would be even better solution as it would give you another layer of protection and if you plan to be into bitcoin for a long run, getting one should be one of your priorities.

Lukmanfirdaus1

member

Activity: 223

Merit: 37

hallo world ^_^

congratulations bro on your first bitcoin purchase, how does it feel? Very exciting isn't it, plus a little nervous, so remember when I bought my first Bitcoin. For security, I think as long as you don't give your password, PIN, or account password to other people then everything is fine, but if not, I suggest you move to a new wallet. If you already have a lot of Bitcoin, I recommend hard wallets like Trezor and other hard wallets, they are very safe and difficult to hack.

Stalker22

legendary

Activity: 1484

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Quote from: Bright0515 on January 31, 2024, 05:28:17 PM

but starting from this month of January I have gotten a new job that pays me 5 figures a month
~

Five figures a month you say? In what currency if I may ask?

riqo

newbie

Activity: 10

Merit: 8

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.

EL MOHA

full member

Activity: 378

Merit: 226

First of all congratulations on your first bitcoin hold, i hope this is amount you can afford to lose and not your entire wages or salary. As that will help you to hold it for long. Looking at this the screen this is a binance wallet which is a centralized exchange and that’s the least of place to safe your coin because the keys doesn’t belong to you. I will advice you look for a reputable bitcoin wallet and in my opinion electrum is that wallet. Create a the new wallet yourself and don’t let your colleague do it for you and then keep the secret phrase safe in an offline place. Then move the coin from this exchange to the wallet. If you do not have basic knowledge of this then you can ask on the forum and you will be guided.

Going forward please do not post screenshots of your holdings as it dampens your privacy. You can also edit your post and remove this one. Also if you’re planning to add more bitcoin to your holdings then you might need to set up a cold storage like purchasing a hardware wallet. You can continuously keep buying bitcoin when you have the fund never wait for any price retracement as that will be a wait too risky if it doesn’t fall back

Here is the link to download an electrum wallet https://electrum.org/#home

Bright0515

member

Activity: 95

Merit: 22

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.

Topic: My first Bitcoin - page 6. (Read 1054 times)