Topic: My First Bitcoin on the New Year Day 2023. (Read 875 times)
I'm so happy for you that you planned well about buying bitcoin to hold because you believe that even if the money is with you, you can still spend it and that even if you spend it on buying Christmas items and other likeable objects to wear, they will not be as meaningful as investing and you may not like them in the end, so my friend, you really made a good decision and I wish you what you wished for yourself while buying the bitcoin.
But is that even possible? I mean as a newbie in any things that we do, we can't always avoid to commit a mistake but that was fine. Selling our coins at an early period of time to earn a small profit isn't even considered as a mistake. This is why there are short term investors and traders.
What is only wrong is if they buy at high and then they sell at low because they will surely lose that way but again it is part of being a newbie. They will soon realize that this was a mistake. If we are serious about long term investing then we shouldn't touch our assets or the money that we already allocated for it but we should set aside for our personal use too.
I think in this case we should be able to determine our goal in the end whether to be in long term investing or just day traders.What is only wrong is if they buy at high and then they sell at low because they will surely lose that way but again it is part of being a newbie. They will soon realize that this was a mistake. If we are serious about long term investing then we shouldn't touch our assets or the money that we already allocated for it but we should set aside for our personal use too.
Even though the conditions are slightly the same, the path taken is clearly different in this case.
When we focus on daily trading, maybe you should pay more attention to the conditions where the market is currently fluctuating and this can't be done by just studying one to two days, it's different from long-term investing. the simplicity is still the same as buying at a fairly cheap price like now and holding it until the time period we specify.
Don't make the mistake that many people do in the beginning....
They buy their first Bitcoin and then they constantly watch the price, so when they see a slight increase in the price... they sell those coins for a small profit.
Hold on to the coins as long as you can, but also convert some of your money for daily expenses into the same wallet. So instead of paying with cash.. you pay for those expenses with Bitcoin. (If they accept bitcoins)
We do this, because we need to support the companies and retailers that supports Bitcoin payments, if we don't... then they will stop accepting it.
But is that even possible? I mean as a newbie in any things that we do, we can't always avoid to commit a mistake but that was fine. Selling our coins at an early period of time to earn a small profit isn't even considered as a mistake. This is why there are short term investors and traders.They buy their first Bitcoin and then they constantly watch the price, so when they see a slight increase in the price... they sell those coins for a small profit.
Hold on to the coins as long as you can, but also convert some of your money for daily expenses into the same wallet. So instead of paying with cash.. you pay for those expenses with Bitcoin. (If they accept bitcoins)
We do this, because we need to support the companies and retailers that supports Bitcoin payments, if we don't... then they will stop accepting it.
What is only wrong is if they buy at high and then they sell at low because they will surely lose that way but again it is part of being a newbie. They will soon realize that this was a mistake. If we are serious about long term investing then we shouldn't touch our assets or the money that we already allocated for it but we should set aside for our personal use too.
Having bitcoin for the first time it feels like me having everything I needed, because it was like my problem are now solved.
It is very great to have a bitcoin investment and it nice too,but you need to know that in every investment there is a lost and profits in it so you will need to expect that but you investing in it you will not regret do it as well.
Been a first timer in having bitcoin you need to learn everything about bitcoin,you need to know the advantage and disadvantage of investing in bitcoin before you go into it properly.
Bitcoin is a mean were by you can archie what ever you want with time.
It is very great to have a bitcoin investment and it nice too,but you need to know that in every investment there is a lost and profits in it so you will need to expect that but you investing in it you will not regret do it as well.
Been a first timer in having bitcoin you need to learn everything about bitcoin,you need to know the advantage and disadvantage of investing in bitcoin before you go into it properly.
Bitcoin is a mean were by you can archie what ever you want with time.
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.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
HAPPY NEW YEAR HODLING
I'm glad about your choice OP! You really made the right choice in investing your spare funds that you had towards Bitcoin during the Christmas Holiday.
I'm delighted to say this to you, welcome to the club!
Cheers for more accumulating in the coming future and I hope you will reap the seeds that you sow this season. Just do remember to always equip yourself with a knowledge so that you won't be doing the same frequent mistakes that the other investors did.
Welcome to this beautiful crypto world OP. I am sure that your investment will be very much profitable to you. The amount of Bitcoins you bought doesn’t matter at all, the thing that matters is that now you have become an official Bitcoin holder or investor. At beginner level, you should understand how safely you can store your bitcoins. When to sell and where to sell. I would suggest you to avoid any online wallets. If possible store your Bitcoins at Electrum. It’s easy to learn and very much safe than the online wallets and trading platform wallets. Wish you all the best mate.
Your journey starts January 1 So what do you plan to do with your cryptocurrency? Hold it forever? Hold it until Bitcoin hits the price you like? Or use it at first possibility as Bitcoin is rather popular in Central Africa and you can places to use it easily. I would suggest you to study more about security of your funds. I see you have an Android device. Try to resist downloading crap on your mobile. Happy holding!
So what do you plan to do with your cryptocurrency? Hold it forever? Hold it until Bitcoin hits the price you like? Or use it at first possibility as Bitcoin is rather popular in Central Africa and you can places to use it easily. I would suggest you to study more about security of your funds. I see you have an Android device. Try to resist downloading crap on your mobile. Happy holding! 
Patience is the key bro. Keep it up and may you hodl for fairly long duration. It may happen that you will be tensed due to the bitcoin's volatile nature. You may find that your 4000 naira turned into 3500, but keep hodling. You will see good results in the coming days as you have started the investment at pretty good point of the year and "bitcoins halving cycle closing". Definitely nicer if you push yourself every week or so to buy more and more. The advantage for your currency is the big change when crypto or fiat moves in slightly upward or downgrade. For you the change is bigger thus you can profit quickly if you are going to stick to the local currency math.
All the best for the future holdings.
All the best for the future holdings.
I was surprised to see my 0.00031254 bitcoin to be soaring when I converted it to the Fiat currency yesterday. What a nice move. I am still planning to buy more this week. According to stories, bitcoin had changed and touched many lives. The soaring really motivated me. I was very much Happy that I didn't waste my money in any other thing but in bitcoin which I will be reaping to my satisfaction in 6-7 years to come
You have seen your profit amount from the current bitcoin price spike, so that you can take your profit. But it's not over yet because this increase is only temporary, and surely later you will be more surprised to see it because, with the amount of 0.00031254 bitcoins that you bought yesterday, it will be bigger following the bitcoin price, which will be higher later. And if you currently have fiat to buy bitcoin again, you can buy bitcoin again when the bitcoin price gets a correction so you can buy it and hold it to get bigger profits later. Bitcoin is the best
Congrats for making your dream come true.
Op you have taking a nice and reasonable steps by going for Bitcoin not atcoins or tokens with aim of thinking those projects bring more profits than Bitcoin like others desperate people which mostly end up in holding die projects.now that you have purchased your first Bitcoin, I believe you never try and leave it on any exchange because exchange are not that worth trusting. It will be a opportunity if can continue topping your wallet.but my advice for you is that don't invest all your money in bitcoin thinking you can making profits at any time, that will be too risk, because I see you words like you use the money people dash to purchase Bitcoin insist of buying food. Always remember you need food for health and health is very important in life, so don't be stingy to yourself because you want you rich in future.
Op you have taking a nice and reasonable steps by going for Bitcoin not atcoins or tokens with aim of thinking those projects bring more profits than Bitcoin like others desperate people which mostly end up in holding die projects.now that you have purchased your first Bitcoin, I believe you never try and leave it on any exchange because exchange are not that worth trusting. It will be a opportunity if can continue topping your wallet.but my advice for you is that don't invest all your money in bitcoin thinking you can making profits at any time, that will be too risk, because I see you words like you use the money people dash to purchase Bitcoin insist of buying food. Always remember you need food for health and health is very important in life, so don't be stingy to yourself because you want you rich in future.
Don't make the mistake that many people do in the beginning....
They buy their first Bitcoin and then they constantly watch the price, so when they see a slight increase in the price... they sell those coins for a small profit.
Hold on to the coins as long as you can, but also convert some of your money for daily expenses into the same wallet. So instead of paying with cash.. you pay for those expenses with Bitcoin. (If they accept bitcoins)
We do this, because we need to support the companies and retailers that supports Bitcoin payments, if we don't... then they will stop accepting it.
They buy their first Bitcoin and then they constantly watch the price, so when they see a slight increase in the price... they sell those coins for a small profit.
Hold on to the coins as long as you can, but also convert some of your money for daily expenses into the same wallet. So instead of paying with cash.. you pay for those expenses with Bitcoin. (If they accept bitcoins)
We do this, because we need to support the companies and retailers that supports Bitcoin payments, if we don't... then they will stop accepting it.
congratulations on your first bitcoin purchase, good luck with your investment and good luck. and the decisions you make are good things, and useful because you are concerned with investing for your future.
if you look at the market today and you still hold your bitcoin, of course you have made a profit. and I personally feel happy if you still hold it to this day.
if you look at the market today and you still hold your bitcoin, of course you have made a profit. and I personally feel happy if you still hold it to this day.
Congratulations on holding Bitcoin early in the new year. Since you transferred and held some bitcoin at the beginning of the year, hopefully you will benefit from it. Invest in Bitcoin by following all the guidelines and precautions for Bitcoin investment. You can increase your investment amount slightly if you want. Because the market will go in a better direction in the future.
I was surprised to see my 0.00031254 bitcoin to be soaring when I converted it to the Fiat currency yesterday. What a nice move. I am still planning to buy more this week. According to stories, bitcoin had changed and touched many lives. The soaring really motivated me. I was very much Happy that I didn't waste my money in any other thing but in bitcoin which I will be reaping to my satisfaction in 6-7 years to come
Good choice.Bitcoin is the best
This must be done even though now the price has started to turn green but for DCA in this case it is still worth it.
I'm also still doing this in the last few months and this week it's still the same as usual regardless of how much it costs as long as it's not $ 30k so I think this is still very worth it to keep buying even though in this case there are still many people who keep saying they will waiting and waiting which is not very certain though.
I was surprised to see my 0.00031254 bitcoin to be soaring when I converted it to the Fiat currency yesterday. What a nice move. I am still planning to buy more this week. According to stories, bitcoin had changed and touched many lives. The soaring really motivated me. I was very much Happy that I didn't waste my money in any other thing but in bitcoin which I will be reaping to my satisfaction in 6-7 years to come
Bitcoin is the best
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.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
HAPPY NEW YEAR HODLING
Your aim is correct. Because the current Bitcoin price has moved from a high level to a very low level. So it is absolutely right time to invest. I think you should buy Bitcoin with all the money you have now.
If we have money in our daily life, it can be spent on various activities. Like we keep part of the income in the bank and spend the rest on ourselves. We should use this right time to invest Bitcoin instead of keeping the money deposited in the bank.
Finally want to say that Bitcoin is now the biggest opportunity to invest so we can never miss its opportunity.
Congratulations, OP.
Please take good care of your satoshis and beware of scammers of all sorts, educate yourself and do not believe on gurus or invest advisors who work from telegram. This can be a very lovely community with charitable people and money to be made in a honest way. But there are also bad people who work 24/7 to steal satoshis from beginners like you.
Always do your own research and ignore unrealistic "guaranteed" returns. Good luck and happy new year.
Please take good care of your satoshis and beware of scammers of all sorts, educate yourself and do not believe on gurus or invest advisors who work from telegram. This can be a very lovely community with charitable people and money to be made in a honest way. But there are also bad people who work 24/7 to steal satoshis from beginners like you.
Always do your own research and ignore unrealistic "guaranteed" returns. Good luck and happy new year.
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 op on your purchase, i remember when I bought my first bitcoin it was really an interesting moment because i felt i have started the first step of a great journey to acquiring lots of btc in the future. Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
HAPPY NEW YEAR HODLING
(Op)the fact that the you understood that the money you used in purchasing the bitcoin can be spent for other things that are not worth spending is really good. The investment choice you made for the future is far better. But just be certain that you hodl up the coins until bitcoin reaches a promising price to sell or even hodl up till it experiences another ATH.
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.
And have you seen the demise of Binance, or is it still just a rumor? Did you read everyone's comment? He only owns 0.0003 BTC, and the binance withdrawal fee is 0.0002 now. If he decides to withdraw bitcoins to his Electrum wallet, he will not have many bitcoins left. I don't see a problem if he continues to leave his bitcoins on Binance, so far binance is safe.
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.
Quote
[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.
Congratulations OP on achieving your dream of acquiring and holding bitcoin. This is hopefully the first step of many in the long road of acquiring and holding bitcoin. It’s nice to see someone while still in the mood of festivities, actually spend his money no matter how small on having an investment.
I think it’s also worthy to note that you should never spend/use money meant for other purposes for investing, no matter how sweet the investment deal may seem at that point.
I would also advise you to grow a thick skin and a strong heart also. There is always some level of risk attached to investments and with bitcoin, you should be ready for anything.
I think it’s also worthy to note that you should never spend/use money meant for other purposes for investing, no matter how sweet the investment deal may seem at that point.
I would also advise you to grow a thick skin and a strong heart also. There is always some level of risk attached to investments and with bitcoin, you should be ready for anything.
Hey OP! Congratulations on receiving your first BTC ever! It may be relatively small but its value will accumulate overtime as long as you keep an eye on its price on the market. Do not worry, however, as this would be the start of your many BTCs to come. The good thing is that you started your adventure now and prepare to feel a roller-coaster of emotions in this journey.
Take precaution, however, that this kind of space does not absolutely guarantee that you will earn profit at the end of the day. Like any other investment, this requires some time, effort, and knowledge in order to maximize your profits in the end.
Take precaution, however, that this kind of space does not absolutely guarantee that you will earn profit at the end of the day. Like any other investment, this requires some time, effort, and knowledge in order to maximize your profits in the end.
congratulations on your first bitcoin purchase. I hope your investment is successful. but don't forget to move your bitcoin to your wallet to make it safer. and your choice is right, because if you don't immediately buy bitcoin, sometimes money is usually used quickly by the necessities of life, such as shopping, poya poya and so on.
Congratulations on your first bitcoin, hope you have a great journey with bitcoin. I prefer bear market participants to bull market participants.
Happy new year and have a great fresh start with bitcoin.
We are also happy for you for dreaming of storing Bitcoin since the beginning of the year. We hope your efforts to keep more Bitcoin in your wallet continue. Our advice, wherever you buy Bitcoin, do not store it in a more secure (non-custodial) wallet such as Electrum, Bitcoin Core, Blue Wallet so that your control over this valuable asset can be maintained considering the effort to collect Bitcoin little by little is not easy.
I believe his mentor knew that and explained it to him. As many said above, he only owns 0.0003BTC while Binance's withdrawal fee is currently 0.0002. So it would be unwise if he withdraws bitcoins to his personal wallet now, he will lose most of his bitcoins. I think he should accumulate more bitcoin and maybe withdraw 1 time will is more beneficial for him.
Happy new year and have a great fresh start with 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.
Never store assets in exchange wallets, as it can make you lose them. Congratulations my friend.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
We are also happy for you for dreaming of storing Bitcoin since the beginning of the year. We hope your efforts to keep more Bitcoin in your wallet continue. Our advice, wherever you buy Bitcoin, do not store it in a more secure (non-custodial) wallet such as Electrum, Bitcoin Core, Blue Wallet so that your control over this valuable asset can be maintained considering the effort to collect Bitcoin little by little is not easy.
I believe his mentor knew that and explained it to him. As many said above, he only owns 0.0003BTC while Binance's withdrawal fee is currently 0.0002. So it would be unwise if he withdraws bitcoins to his personal wallet now, he will lose most of his bitcoins. I think he should accumulate more bitcoin and maybe withdraw 1 time will is more beneficial for him.
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.
Probably someone will have already written it but it is worth reiterating and if no one had it will be there at least me, remember that when it comes to Bitcoin privacy is more important than anything else and Binance is not respectful of your privacy, there are many other services for example Bisq.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
Probably someone will have already written it but it is worth reiterating and if no one had it will be there at least me, remember that when it comes to Bitcoin privacy is more important than anything else and Binance is not respectful of your privacy, there are many other services for example Bisq.
Please check here https://bitcointalksearch.org/topic/how-to-re-name-default-wallet-name-in-electrum-5432443
I have seen and heard all your advices. I greet you all.
Congrats on your first bitcoin purchase and hopefully first of many!
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.
Thanks, but I got the wallet before I bought the BTC. You can check here https://bitcointalksearch.org/topic/how-to-re-name-default-wallet-name-in-electrum-5432443 I will move it to the Electrum wallet whenever I buy more.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.
I'm happy that you've reached your dream! Congratulations!
Although you didn't mention your wallet, I hope it is an open-source non-custodial wallet. I hope you're also taking the necessary security measures so that your coins that you intend to HODL will be safe.
It is Electrum. You can check here https://bitcointalksearch.org/topic/how-to-re-name-default-wallet-name-in-electrum-5432443Although you didn't mention your wallet, I hope it is an open-source non-custodial wallet. I hope you're also taking the necessary security measures so that your coins that you intend to HODL will be safe.
Well done and welcome! Take the advice of people to take that BTC out of Binance, and I urge you to find other means of getting your stash of satoshi (Bisq or even Localbitcoins is safer I would say). Then over time you build your own trusted network of P2P sellers so you can get your DCA serious.
Great time to start!
I will do that whenever I buy more. But when I checked the Bisq, it is only for laptop and desktop. It is not on Android phones. What I said on Android phone was just a Bisq notification on Android. That is I have to connect the phone to the PC software to receive notification from the PC whenever there is an information. Great time to start!
First of all congratulations on your first bitcoin purchase. I hope you buy more and then move your bitcoins to a wallet. Exchanges are not suitable for keeping that digital gold. Especially not after all that happened in 2022.
I will do that when I buy more. Thanks for the concern. This is my plan too since I have extra money this Christmas due to my huge sales on my business. The only problem was we have too many expenses on shopping spree online for our furnitures which consume most of extra budget from profit.
I understand, it is not easy for family parents to save bitcoin in their Wallets unless the family has extra business that fetch them huge income. God is your strengthKeep it up OP, DCA is the key.
What is the meaning of DCA? Op bought 0.00031254 btc around $5.17 in the current price according his screenshot. now if op want to move his btc to any non-custdial wallet or hardware wallet then maximum of his btc will be cut as exchanger withdrawal fees. so He currently won't be able to transfer these bitcoins and if he does he will lose most of his bitcoins in fees which amount of btc he boughted. so op can do that when he-she buy more btc again
You have said all. Well done DiMarxist.
I hope you have been around Bitcoin for a while and are aware of the market effects and
the volatility they bring? Just keep calm, don't panic and believe in the future of Bitcoin.
I hope you are aware that you should be looking to the long term and that you know
the concepts of HODL and DCA.
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.
I wish you well in your Bitcoin journey and your growing of your wallet balance.
I have been mentored, on offline by a professional teacher, and it is new in the forum. Thanks for the meaning of DCA. I hope you have been around Bitcoin for a while and are aware of the market effects and
the volatility they bring? Just keep calm, don't panic and believe in the future of Bitcoin.
I hope you are aware that you should be looking to the long term and that you know
the concepts of HODL and DCA.
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.
I wish you well in your Bitcoin journey and your growing of your wallet balance.
Congratulations and welcome to the Bitcoin community. It's only the beginning, and you have a long journey ahead of you. You purchased Bitcoin at a low price when it is currently trending down. When you have extra money and are dipping like this, it is a wise decision. Of course, you have to hold for a longer period of time to get a good return. That's great that you purchased from Binance; it's very popular right now for p2p transactions. However, transfer your funds to a non-custodial wallet. Seek clarification with your mentors about setting up a non-custodial wallet such as Electrum. And if you can afford it, get a hardware wallet. As a result, your funds will be more secure. Don't forget to keep your seed phrase safe as well.
Thanks you for your advice. Yes the seed is well secured. You motivate me to the core. I have seen and heard all your advices. I greet you all.
Congratulation on your first purchase in the year 2023. How much Bitcoin had you already accumulated in your stay in the cryptocurrency industry? I believe this is not your first time holding Bitcoin but still I applaud you in spending your collected money this holiday to buy Bitcoin.
(....)
It seems this is the first Bitcoin owned by the OP, as per the title.(....)
I really admire OP because just this simple act, it's a good start because later in the future, they can easily do it again and it will become a normal act for them because as per them, they mentioned investment.
Because as I experienced before, buying/accumulating Bitcoins became my normal action when it comes to investment or every time I got some extra funds in fiat, I converted it to Bitcoin.
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.
Congratulation on the first purchase @OP hope you have the patience to hold your Bitcoin until the next several halvings to feel the impact of your works. Make sure you have a diamond hand in order to resist the temptation of selling your holdings when the price crash hardly.
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.
Congratulation on your first purchase in the year 2023. How much Bitcoin had you already accumulated in your stay in the cryptocurrency industry? I believe this is not your first time holding Bitcoin but still I applaud you in spending your collected money this holiday to buy Bitcoin. I hope your accumulation be fruitful and I think I do not need to remind you anything since I believe you already grasp the basics of cryptocurrency if not well versed. I come to thinking that you are not new because you are able to buy Bitcoin in a platform where many of the old timers here aren't or too nervous to do so. But regardless it is not important anyway 
.
. 
Congratulations on your purchase and follow the same whenever you've got fund to buy some bitcoin. Surely you'll experience the goodness by the next new year 2024. This is the right time, because the price is low compared to the previous years and for a beginner it is good entry point. Because, you don't need to wait for much longer time period to experience the profit out of the investment.
Making your entry to the forum is another good thing, and this will help you improve yourself through the continuous learning.
Making your entry to the forum is another good thing, and this will help you improve yourself through the continuous learning.
Congratulations OP and welcome to the forum, this only the beginning. Everything has pretty much been said, I suggest you take the advice above and move your bitcoins from Binance to a non-custodial wallet. Storing your bitcoins in centralized exchanges no matter how popular they may be, it is a very risky move.
Recent events should make you withdraw all your coins to your own wallet:
Recent events should make you withdraw all your coins to your own wallet:
You are really doing well, no that you have purchased some bitcoin for yourself, you said you bought it from binance, I will advice you to withdraw the bitcoin from binance to a non custodial wallet, you shouldn't leave your bitcoin on exchange because no exchange can be trusted.
Also you should learn about wallet security if you want to withdraw your bitcoin to your non custodial wallet, make sure you backup your private key and make sure it is kept in a secure place(anywhere there is no internet connection), make sure you don't connect your wallet to anyhow websites to avoid your wallet address being hacked.
Also you should learn about wallet security if you want to withdraw your bitcoin to your non custodial wallet, make sure you backup your private key and make sure it is kept in a secure place(anywhere there is no internet connection), make sure you don't connect your wallet to anyhow websites to avoid your wallet address being hacked.
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.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
I have nothing to say about buying bitcoins from Binance because we saw much drama about these platforms and even the most famous ones, however as far as I can see you just used Binance to buy your bitcoins and you didn't hold anything there but still be careful about these because no matter what they say about having p2p transactions you are still using a centralized platform which can be an experience for you, but regardless of that I'm happy to see you bought your bitcoins and hope to see you are earning good profits from it soon.
Hope you're not buying this Bitcoin just for the fun of having it?
Since you're HODLing, I always advice people do invest fir long term though there are people who also hodl for a very short time and when you decide to dive into this industry, I want you to always know that problems will definitely arise a d the need for the use of the Bitcoin will arise but in all you do, make sure you don't temper with the Bitcoin you're holding and that's why I always advise that the money to be used should be money that isn't intended for something very important in the future.
Since you're HODLing, I always advice people do invest fir long term though there are people who also hodl for a very short time and when you decide to dive into this industry, I want you to always know that problems will definitely arise a d the need for the use of the Bitcoin will arise but in all you do, make sure you don't temper with the Bitcoin you're holding and that's why I always advise that the money to be used should be money that isn't intended for something very important in the future.
Step by step you will achieve your goal. Every little investment in btc is a way of indirectly building your financial freedom. Good thing you have started the year with a great decision. Am very positive you won't regret this decision rather you will be very happy with yourself in a few years to come. Congratulations and keep a positive attitude.
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.
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
Congratulations on your purchase of bitcoins! Buying bitcoins during a bear market is the easiest and most effective way to multiply your capital.
At the same time, remember to maintain control over your bitcoins. You need to ensure the safety of the seed phrase, this is the most important thing.
It should also be taken into account that this time the bear market can be very long in time.
Therefore, you may have to be patient to wait for the profit.
Congratulations and welcome to the Bitcoin community. It's only the beginning, and you have a long journey ahead of you. You purchased Bitcoin at a low price when it is currently trending down. When you have extra money and are dipping like this, it is a wise decision. Of course, you have to hold for a longer period of time to get a good return. That's great that you purchased from Binance; it's very popular right now for p2p transactions. However, transfer your funds to a non-custodial wallet. Seek clarification with your mentors about setting up a non-custodial wallet such as Electrum. And if you can afford it, get a hardware wallet. As a result, your funds will be more secure. Don't forget to keep your seed phrase safe as well.
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.
Never store assets in exchange wallets, as it can make you lose them. Congratulations my friend.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
We are also happy for you for dreaming of storing Bitcoin since the beginning of the year. We hope your efforts to keep more Bitcoin in your wallet continue. Our advice, wherever you buy Bitcoin, do not store it in a more secure (non-custodial) wallet such as Electrum, Bitcoin Core, Blue Wallet so that your control over this valuable asset can be maintained considering the effort to collect Bitcoin little by little is not easy.
Great to see this OP! You didn't spend a whole lot, more like the value of a burger or something, but the investment has to start somewhere.
I hope your first buy brings you joy and becomes something you remember for a long time as the day you've got into the world of decentralized money.
My advice for you at the start of your journey is to curb your expectations and not check the price every day.
I hope your first buy brings you joy and becomes something you remember for a long time as the day you've got into the world of decentralized money.
My advice for you at the start of your journey is to curb your expectations and not check the price every day.
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.
Congratulations on your first purchase and investment in Bitcoin.Hopefully in the future you can continue to be consistent in investing in adding Bitcoin assets even if only in small amounts. Always be sure that no matter how small you collect, if you succeed consistently in the long term, it can become something of value in large quantities.
A little advice from me, Keep holding fast and your faith in investing.
Whatever will happen in the future if Bitcoin has decreased in price, keep it until your target is met, because basically investing is saving an asset for a certain time or long term.
Maybe don’t spend all the money you would have spent on food on Bitcoin, but I like your spirit. Before you know it you will have holes in your underwear, nothing in your cabinets, but a wallet with a whole coin in it.
Joking of course, but you can see how such a thing can start happening if you go hard on the stacking. Just don’t forget to have yourself some fun along the way too.
Joking of course, but you can see how such a thing can start happening if you go hard on the stacking. Just don’t forget to have yourself some fun along the way too.
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.
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
Congratulations on your first bitcoin purchase on the first day of January and a happy new year to you. I believe it must have been a tough decision for you to make forgoing your possible satisfaction from your pleasure or having fun this festive season. It is a good decision you have made to have purchased bitcoin to hodle for the time being until you deemed it fit collecting profit. Looking at the market trend, you would see it is bearish which should tell you that it is time you take advantage of the market buying more bitcoin as the price is currently down while waiting for bullrun. If you can, purchase more as you have said your mentor encouraged you to buy more when you have spare cash doing so will give you a edge over the market but do not forget " not your keys not your coin" so therefore do well to always transfer your assets to your private wallet in which you have custody of the private key phrase.
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.
Let me just quote so that everyone could see the image.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
Make sure you are the only one knows about the private key of your wallet and never share it to other people if you don't trust them 100%. Your Bitcoin wallet is like your real life wallet, once someone knew about the private key of your wallet it's like you are sharing your wallet to them. It should be your personal or treat it like that as it should since you are now your own bank if you keep collecting BTC you will one day earn a good profit from it.
Now, you have to learn more about the market if you want to make a profit about of your investment since I assume you don't know yet how the market works. But if your mentor helps you a lot to understand the market then that's better but try to read and do some research too. You might discover some interesting topic and as well as to avoid scam if you know how they tried to scam people.
Well done DiMarxist.
I hope you have been around Bitcoin for a while and are aware of the market effects and
the volatility they bring? Just keep calm, don't panic and believe in the future of Bitcoin.
I hope you are aware that you should be looking to the long term and that you know
the concepts of HODL and DCA.
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.
I wish you well in your Bitcoin journey and your growing of your wallet balance.
I hope you have been around Bitcoin for a while and are aware of the market effects and
the volatility they bring? Just keep calm, don't panic and believe in the future of Bitcoin.
I hope you are aware that you should be looking to the long term and that you know
the concepts of HODL and DCA.
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.
I wish you well in your Bitcoin journey and your growing of your wallet balance.
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.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
Congratulations on your first Bitcoin purchase OP.
Hopefully you can continue to be consistent to set aside little by little your money to buy Bitcoin.
I hope you can learn a lot from your mentor and stay updated about Bitcoin in this forum.
The more our knowledge and understanding will be very useful in managing our investment assets.
I suggest you also don't forget to set aside some of your cash for your emergency fund.
Just in case you need cash urgently,
so you don't need to take your investment in Bitcoin if you haven't accumulated a lot.
I'm just reminding you to be wise in managing the money you have.
Keep spirit and continue to be consistent to invest bro.
Well done! Keep accumulating more satoshis always you have an opportunity of doing so. Try saving a portion of your wage to buy bitcoin every month or every week. Draw a goal to be achieved in bitcoin holdings this year. I expect in 1 or 2 years your effort will be rewarded. Next bull run has potential to drive your currently holdings to 200% profit, being conservative on my prediction.
Congrats on your first bitcoin purchase and hopefully first of many!
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.
Congrats to op for purchase Bitcoin in 1st days of the new year 2023 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.
Op bought 0.00031254 btc around $5.17 in the current price according his screenshot. now if op want to move his btc to any non-custdial wallet or hardware wallet then maximum of his btc will be cut as exchanger withdrawal fees. so He currently won't be able to transfer these bitcoins and if he does he will lose most of his bitcoins in fees which amount of btc he boughted. so op can do that when he-she buy more btc again
Congratulations!
You just did well for the first step and that's to initiate and buy as a start. There are other people that have been telling that they'll start buying but eventually, they've forgotten what they've planned and what they have to do.
It's because that they're thinking that bitcoin is expensive even if it has fallen around 60% since the last bull run. But little did they know that accumulation is at the phase again.
Keep it up OP, DCA is the key.
You just did well for the first step and that's to initiate and buy as a start. There are other people that have been telling that they'll start buying but eventually, they've forgotten what they've planned and what they have to do.
It's because that they're thinking that bitcoin is expensive even if it has fallen around 60% since the last bull run. But little did they know that accumulation is at the phase again.
Keep it up OP, DCA is the key.
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Congratulations on your first purchase. This the most exciting part of being Bitcoin holder and the rest is already pure thinking on when will the price pump or fear during dump. Purchasing first Bitcoin is the most memorable event on Bitcoin holder life.
This is my plan too since I have extra money this Christmas due to my huge sales on my business. The only problem was we have too many expenses on shopping spree online for our furnitures which consume most of extra budget from profit.
This is my plan too since I have extra money this Christmas due to my huge sales on my business. The only problem was we have too many expenses on shopping spree online for our furnitures which consume most of extra budget from profit.
Congratulations on getting your first bitcoins and even more glad you picked the right time to buy bitcoins. I mean new year + new opportunity(bitcoin). Hopefully by the end of the year, I will hear your success story on this forum.
I agree, I know this is OP's first bitcoin, it's as precious as our first bitcoin, but for that small amount, he should keep leaving them on binance instead of withdrawing to non-custodial wallet. Currently, Binance is also safe and has not had any problems, withdrawing bitcoin only makes him more frustrated because the transaction fees are too high.
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 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 don't think the OP should be doing it now as his current bitcoin value is no more than $6, but if the OP has $60, $100, or higher then I would also suggest he do so.
You are one of the lucky guys to do it at the right time because the price will gonna rise once it will gonna recovers from this crypto market crisis caused by some filthy exchanges that were taking advantage of their users. if everything will settle and clarified for the new investors, then we will gonna move on and start to invest one after another again, and hopefully, after that, the big companies will follow the big crowds of investors because the price will surely rise when that happened. Now is the time for patience and perseverance and only strong mindsets will remain to hold their bitcoins until the next bull runs will come.
This is a commendable move ops and as you can see the reality of things already with centralized exchanges, and the risk of having large funds on centralized exchange but there is no, doubt the fact that exchanges provide essential services to bitcoin adoption and at that the risk associated with them and how the risks can be managed by not leaving your funds on them. So as you accumulate more bitcoin, you should make sure to send them to your personal wallet if possible cold wallets. Haven't decided to use your monetary gifts to buy bitcoin am sure you are in for a long-term base and at that, you should have the mentality of steel hands to hold for the long-term base.
First of all congratulations on your first bitcoin purchase. I hope you buy more and then move your bitcoins to a wallet. Exchanges are not suitable for keeping that digital gold. Especially not after all that happened in 2022.
Well done and welcome! Take the advice of people to take that BTC out of Binance, and I urge you to find other means of getting your stash of satoshi (Bisq or even Localbitcoins is safer I would say). Then over time you build your own trusted network of P2P sellers so you can get your DCA serious.
Great time to start!
Great time to start!
This is a good start where you have bought bitcoin for the first time, I think every time you have the funds in possession then this can earn bitcoin consistently to keep investing in bitcoin and I also continue to buy bitcoin gradually or what is called DCA.
At the beginning of 2023 the bitcoin price is still low this is still your opportunity to buy bitcoin at the base price before bitcoin will recover and reach ATH again, I hope that starting this year will be a whole year where you will continue to earn bitcoin from regular purchases.
So congrats on a great start with your first purchase.
This person also made his first bitcoin purchase in October: My First Bitcoin Purchase.
Since it's a small initial investment there's no way the OP would do it right away, maybe he should at least hold on to the exchange until the fund reaches $30-$50 after which he can withdraw it to a non-custodial wallet that has his own control.
To the OP, don't put too much faith in keeping assets on the exchange, it will be risky, even if later for every $50 purchase it's better to withdraw it directly to a non-custodial wallet.
At the beginning of 2023 the bitcoin price is still low this is still your opportunity to buy bitcoin at the base price before bitcoin will recover and reach ATH again, I hope that starting this year will be a whole year where you will continue to earn bitcoin from regular purchases.
So congrats on a great start with your first purchase.
This person also made his first bitcoin purchase in October: My First Bitcoin Purchase.
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 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 don't think the OP should be doing it now as his current bitcoin value is no more than $6, but if the OP has $60, $100, or higher then I would also suggest he do so.Since it's a small initial investment there's no way the OP would do it right away, maybe he should at least hold on to the exchange until the fund reaches $30-$50 after which he can withdraw it to a non-custodial wallet that has his own control.
To the OP, don't put too much faith in keeping assets on the exchange, it will be risky, even if later for every $50 purchase it's better to withdraw it directly to a non-custodial wallet.
I'm happy that you've reached your dream! Congratulations!
Although you didn't mention your wallet, I hope it is an open-source non-custodial wallet. I hope you're also taking the necessary security measures so that your coins that you intend to HODL will be safe.
On a side note, though, I wish you would find a better place to trade P2P. Binance, of course, is popular. It offers P2P. But you have to be aware that P2P means peer to peer, meaning, the transaction doesn't have a third party in between. I'm afraid this isn't the case with Binance. Instead of P2P, Binance's version is like P2B2P because Binance (B) is in the middle and it can do a lot things from there. The bottom line is that the very essence of P2P is defeated. You might want to raise this with your mentor. Meanwhile, you might want to browse the list provided at https://kycnot.me/.
Although you didn't mention your wallet, I hope it is an open-source non-custodial wallet. I hope you're also taking the necessary security measures so that your coins that you intend to HODL will be safe.
On a side note, though, I wish you would find a better place to trade P2P. Binance, of course, is popular. It offers P2P. But you have to be aware that P2P means peer to peer, meaning, the transaction doesn't have a third party in between. I'm afraid this isn't the case with Binance. Instead of P2P, Binance's version is like P2B2P because Binance (B) is in the middle and it can do a lot things from there. The bottom line is that the very essence of P2P is defeated. You might want to raise this with your mentor. Meanwhile, you might want to browse the list provided at https://kycnot.me/.
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 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 don't think the OP should be doing it now as his current bitcoin value is no more than $6, but if the OP has $60, $100, or higher then I would also suggest he do so. 
Congrats on your first bitcoin purchase and hopefully first of many!
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.
These exchanges have disappointed many people in recent times. Many people have lost money they kept in these exchanges. So to make your investment safe and protected ensure you transfer your funds to a decentralized exchange. I am also hoping to buy mine in a few months if I can be able to earn extra money from my job because currently, the cost of leaving is very high that I can hardly save a penny. I would heed the advice of Rikafip to store my funds in an Electrum wallet, so I have decided to download and study the wallet. Nevertheless, congratulations friend. 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.
Buying bitcoin is always a great idea and a good investment.
But I want you to know that in every investment there's always a risk.
It is always advised to buy what you can afford to lose.
It is a festive season, don't forget to have fun as well.
Also, don't forget to transfer your Bitcoin to your wallet.
Binance is not a wallet but an exchange platform.
Happy new year to you too.
But I want you to know that in every investment there's always a risk.
It is always advised to buy what you can afford to lose.
It is a festive season, don't forget to have fun as well.
Also, don't forget to transfer your Bitcoin to your wallet.
Binance is not a wallet but an exchange platform.
Happy new year to you too.
Congrats on your first bitcoin purchase and hopefully first of many!
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.
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.
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.
Quote
[Binance] P2P Order (last 4 digit: 9520) has been completed. The seller has released 0.00031254 BTC to your P2P wallet.
HAPPY NEW YEAR HODLING
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