Topic: My First Bitcoin on the New Year Day 2023. - page 2. (Read 890 times)
Welcome to the club! It is so nice to be a part of the revolution. When you secure Bitcoin, you are securing your future. Even though Bitcoin has already proven itself as a virtual asset that has real world value, many people still do not believe in its potential and are just waiting to see it dead. Well, Bitcoin is a survivor, as they already deemed it dead almost a thousand times but the truth is that when they say Bitcoin is dead, it is the most accurate time to buy it. That said, congratulations for acquiring your Bitcoin at such low prices!
Welcome to the journey of Bitcoiners I hope you don't panic sell when speculations arise about the drop of the price of Bitcoin
I hope you preserve your digital gold off exchnages, if you haven't heard or read, go and check up the downfall of Mt Gox, FTX and rumoured downfall of Binance. Bad advice and decisions are also passed here at times learn to get the better onr for yourself.
Congratulations again for achieving your first, someone above suggested the use of Electrum ask questions if you don't have idea of the usage.
I hope you preserve your digital gold off exchnages, if you haven't heard or read, go and check up the downfall of Mt Gox, FTX and rumoured downfall of Binance. Bad advice and decisions are also passed here at times learn to get the better onr for yourself.
Congratulations again for achieving your first, someone above suggested the use of Electrum ask questions if you don't have idea of the usage.
Excellent work, DiMarxist. Investing is a better option than frivolously spending your money. Congratulations on your first successful step.
The current withdrawal fee to bitcoin wallet from binance exchange is 0.0002 btc, so if the OP wants to withdraw it to non-custodial wallet then of course he will only receive around 0.00011254 bitcoin after deducting the withdrawal fee.
I can't even remember the last time I did a Bitcoin withdrawal on Binance. I usually do a tether or BUSD conversion to get out my cash. Sell it and then buy Bitcoin ago to be transferred to my choice wallet. Yes, I know it takes a little more time to do all that but the inconveniences is worth it.OP, congratulations on your newly found love for Bitcoin and the initiation of buying it with gifted cash for the Xmas. Keep it up and keep "DCAing" on it as we are bound to have a continued dip this 2023.
Congratulations on the purchase and you're on the right track. Try to keep it up with regular buying according to your ability. What you accumulate throughout the year will give the best return in the upcoming year. Try to limit your unwanted spending and start buying more and more bitcoin. Also try to learn about the different possibilities that could help in increasing your holdings. Moreover learn about the technology which is a must.
I will always congratulate the people who buy Bitcoin, not only for the fact that they support the technology, but because it is an investment of their lives, very few are the ones who wake up from the system in which we live, where everything is managed by the banks, governments and our jobs that sometimes we last 8 or 10 hours working, while if we have bitcoin bought and saved that can become our best retirement, I have high expectations of bitcoin in the future, I know that it will never disappoint me , and for that reason I congratulate those who buy and make people more and more intelligent thinking about their future.
My Mentor told me that I should top up the wallet whenever I have funds, so today, I used the money people gave me on the Christmas day and this morning being the new day to buy bitcoin to hodle. Because if I kept that money in my hand I would still spend it for food or clothes. Instead I decided to start the investment.
Firstly, congratulation on your new journey with us. Happy to have you here with us. But I have some question to ask and some advice for you. You mentioned that you put all your assets in the investment. From your point of view, it may be good for you. But you also need to learn that, there are some certain time which are best for investment. As a beginner, we all have the intention to make money quickly. In order to achieve that, we tend to buy and wish for the market to pump quickly. So when the market goes down on some point, we emotionally take decision and in the end sell them. I hope your mentor will give you the proper education on this, and you can avoid this from happening in the future. Also market movements and chart analysis is a must.
One last thing I want to add is, don't put all your money in. Have something for yourself in order to enjoy life. I know you are investing for your future, but life is uncertain. Enjoy while you can.
DiMarxist, somehow I have to congratulate you on your first bitcoin purchase [small amount] but you found the right choice as an investment asset. No doubt bitcoin is one of the most recommended crypto as an investment asset for everyone but in small amount you should know that it will only make you lose half of it due to withdrawal fees.
I agree that you need a more secure storage wallet than storing it on a centralized exchange, but as long as your bitcoin amount is not worth the withdrawal fees, then you are still safe keeping it on an exchange for some time. Just increase your bitcoin investment amount, I really believe 2023 is the year to buy more bitcoin.
I agree that you need a more secure storage wallet than storing it on a centralized exchange, but as long as your bitcoin amount is not worth the withdrawal fees, then you are still safe keeping it on an exchange for some time. Just increase your bitcoin investment amount, I really believe 2023 is the year to buy more bitcoin.
My dream of having a wallet and hodling bitcoin BTC in the wallet has just started. My Mentor told me that I should top up the wallet whenever I have funds, so today, I used the money people gave me on the Christmas day and this morning being the new day to buy bitcoin to hodle. Because if I kept that money in my hand I would still spend it for food or clothes. Instead I decided to start the investment. I bought it from Binance which the popular exchange platform for p2p in my country.
I really like the forum for the love showing to me and for the straight and nice answers. Love you GUYS.
Congratulations bro you have gotten into Cryptocurrency world and you are still not so behind. I think you are on a right time because there is a bear market and still you can grab some Bitcoin and also other dollars so that you might be able to make fortune in coming years. Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
I really like the forum for the love showing to me and for the straight and nice answers. Love you GUYS.
HAPPY NEW YEAR HODLING
And also you will be able to learn something cool, that would be super Fantastic.
Congratulations on your first bitcoin purchase. Welcome to the world of bitcoin, and I hope you enjoy the ride. Develop the habit of hoarding bitcoin because it is the only reliable coin in the market. Don't get carried away by the low prices or good news that comes with investing in other coins for the time being. Nurture your savings until the right time comes to sell. I hope you see this as a full-time investment rather than a place to get money for your daily needs. I wish you the best of luck on your journey.
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[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
I like what the OP have started and I know you ain't or no one is seeking any opproval on this but, i believe we all knows it would be even the more nice should you (OP) gets to keep this up. It would be a better way to build your crypto portfolio into something worth appreciating yourself for.
Congrats on the first purchase! I can see it's a very small one, though, so I hope you'll be able to accumulate more before withdrawing to a non-custodial wallet, as otherwise a big chunk will be eaten by transaction fees (I can see from your yesterday's reply that it is what you're planning to do). It's less than $10 right now if I'm seeing it correctly, so I guess I wouldn't bother with a wallet at this point. It's good that you're starting small, clearly investing what you can afford to lose. I wish you to be able to invest more in the future and enjoy hodling.
Congratulations on your first purchase and indeed that's what you have to do especially with the current conditions where the price of bitcoin is still quite cheap so this is a pretty good first purchase.
Keep doing things like this as long as market conditions haven't improved because it can benefit you.
Keep doing things like this as long as market conditions haven't improved because it can benefit you.
I do hope that you plan to move bitcoin to your own non-custodial wallet, so you have complete control over your money. My suggestion is Electrum for start and then eventually a hardware wallet.
The fee for Binance is slightly higher and with the purchase of 0.0003 made by OP if you see the fee listed for Binance is 0.0002 then I don't think this will be too worth it. indeed moving and without keeping it on the exchange is a good thing but I think if conditions like this would be better for the OP to hold it first for a bigger purchase then this can still be done for transfers.It looks like OP needs to purchase multiple times before it will be worth transferring his holdings.
But seeing the passion as well as the words about buying the first bitcoin I personally feel this is still going to be sustainable. Let's hope the OP continues this good run even though we know there will definitely be some panic for first time people coming to crypto especially bitcoin.
It would be always nice to invest than to use your money to buy things which are not necessary in our lives. Also, it takes courage for people to engage with risky market prices wherein or pehaps in this industry. For sure there are many people planning to do so given that market price at this moment is still low. But as I've mentioned; not all people has the courage to do the same thing. Problem is that many of those who desires of such thing are not making any effort to put their ideals into reality. They are either waiting for a lower market price or are simply having difficulties with their decisions toward their assets. Some people will be interested as well but not all people managed to invest because they more likely prefer alonger period of holding.
Congratulations on your purchase, that's great because sometimes people prefer to use that Christmas gift money to buy food or clothes but you chose bitcoin as an option. But I also want to remind you that like most who give you advice to use a decentralized wallet to be more secure, yes, even though Binance is the most popular exchange, still the Bitcoins in your wallet will be monitored by the exchange manager and we don't know what will happen in the future.
I have to advise you to increase the number of Bitcoins for the future, because judging by the cycle you have to wait until 2024 to get the most out of your Bitcoins, and I think accumulating more bitcoins with the DCA strategy for the future is not difficult.
I have to advise you to increase the number of Bitcoins for the future, because judging by the cycle you have to wait until 2024 to get the most out of your Bitcoins, and I think accumulating more bitcoins with the DCA strategy for the future is not difficult.
Congratulation on your first purchased, i hope you won't panic and sell it off whenever you think the market is not favorable to you?
I had similar cases where advised a friend of mine to buy as little as he could to keep holding but to my greatest surprise he sold it off when he noticed and found out his btc was reducing in dollar value.
I had similar cases where advised a friend of mine to buy as little as he could to keep holding but to my greatest surprise he sold it off when he noticed and found out his btc was reducing in dollar value.
I hope you are aware that you should be looking to the long term and that you know
the concepts of HODL and DCA.
"If you can't HODL, you won't be rich" (CZ Binance)the concepts of HODL and DCA.
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DCA - Dollar Cost Average - don't try and time the lows to buy, just buy when you can and
you average out over time your overall buy price.
https://dcabtc.com/you average out over time your overall buy price.
https://www.blockchaincenter.net/dollar-cost-averaging/
https://www.bitcoindollarcostaverage.com/
Bull or bear market, if you DCA, stack bitcoins and HODL BTC, you will be rich.
Stack story
Keep it up OP, DCA is the key.
What is the meaning of DCA? That means that you'll keep on buying at any rate right now or you'll buy no matter what the price is as long as you want to buy it. And that's because you're into accumulation.
For you to understand more of it: Dollar-Cost Averaging (DCA) Explained With Examples and Considerations
Congrats for owning Bitcoin. It's a wise decision that you invest the money you received last Christmas into something that will make you gain, in time. The timing is also good since the price of Bitcoin is quite cheaper than before. So continue what you already started and be firm in holding, I assume you already have knowledge about Bitcoin investment and the risk right? Because the usual mistakes of newbies are not knowing the investment they're entering in, hence if something unexpected happened they tend to panic and commit a mistake that they will also regret later. Anyway, goodluck on your journey so let's wait for the next bullrun.
I would like to welcome you aboard with us, and I hope that you have a successful bitcoin investment journey as desired.
I see many people recommend withdrawing your bitcoins to a non-custodial wallet because bitcoins on a centralized exchange are not your bitcoins, that's true. But I think you should not worry too much because binance is also very safe and with that modest amount of bitcoin, withdrawing to your wallet is also quite wasteful because the withdrawal fee on binance is quite high compared to the amount of bitcoin you have. But you should do it when you can accumulate more bitcoins, don't leave too many assets on a centralized exchange.
I see many people recommend withdrawing your bitcoins to a non-custodial wallet because bitcoins on a centralized exchange are not your bitcoins, that's true. But I think you should not worry too much because binance is also very safe and with that modest amount of bitcoin, withdrawing to your wallet is also quite wasteful because the withdrawal fee on binance is quite high compared to the amount of bitcoin you have. But you should do it when you can accumulate more bitcoins, don't leave too many assets on a centralized exchange.
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