My first investment for Bitcoin | Bitcointalksearch.org

tiCeR

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Quote from: Welsh on March 03, 2023, 08:19:53 AM

Quote from: Cantsay on March 03, 2023, 02:48:31 AM

And from the interface of the exchange in your image I think you used kucoin which means you'll have to withdraw your coin from that exchange into your non-custodial wallet. Remember Not Your Key Not your Coin so for now I'd say you have no Bitcoin just some numbers been displayed on your exchange.

Right, I can't emphasis it enough; No matter how small your holdings in Bitcoin, don't keep it on exchanges. I suppose, when you factor in the fee for withdrawing, it can seem counter productive if you've got small amounts. However, at the very least do it at different targets where your comfortable with paying the fee. Since, new users probably need to familiarize themselves with the right way of doing it, instead of getting too comfortable, and getting stung if anything ever happens to the exchange.

Personally, I'd rather lose a little in fees, and know that my Bitcoin is secure than holding it on the exchange for a prolonged period. I usually, only deposit what I'm going to take out in an exchange, and I'd recommend doing the same whenever you're purchasing Bitcoin. Maybe, holding out until you can afford higher amounts to justify the fee might also be an option.

It does depend a bit on your trading goals or whether there is an exchange that has a certain trading pair but others have not. I am all for Bitcoin anyway, but I also used to trade some stuff and withdrawing and depositing all the time doesn't make it worth in the end.

BUT, Welsh is right as I can tell that over the course of my long crypto experience, I have had a couple of minor losses due to leaving some coins on the exchange. I guess most of us who were around early got caught at least once, or not? Wink

Good old Mt. Gox, Cryptsy, but also a couple of other exchanges. Oh Cryptopia comes to my mind and I can't recall the names but many have disappeared so the advice to not keep your coins on an exchange is 200% correct. The collapses as we have seen with FTX always happen out of a sudden. Everything works fine dozens of times and then without any prior notice the withdrawal is not being processed anymore. Congratulations, tiCeR, for leaving those coins (even if not many) on the exchange (is what I am telling myself Wink

).

I must say though that these days I don't have a single penny on any exchange. Thankfully never lost big, but learnt the lesson.

lalabotax

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Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

Congratulations, mate. Your first Bitcoin investment will really influence your decision. This may be a brave decision where investing in crypto is always high risk, moreover, the market is now very dipping. Hopefully, you don't get panic and still be aware that there must be another high better time to see the market. Well, getting minus so much in Bitcoin investment is actually very usual to happen. So, be calm and patient to wait for the market is getting better and better. never panic with this condition.

rachael9385

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Hey mate, you have done well investing in Bitcoin. Whenever I see people investing in Bitcoin it makes me feel like am the only person remaining outside the moving train.
Once again you have done well, don't be in a haste to sell, just grip it.

Rockson1

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You are welcome to bitcoin club I wish u more success investing in crypto currency is a welcome development an bold step u have taken in life keep hold on to ur coins an invest more don't be eager invest the little money u have invest that and don't borrow to invest manage the little you have you will make more profit as time goes on OK.

pawanjain

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Nothing lasts forever

I know that feeling because I have been through the same. Knowing what bitcoin is all about itself makes us wanna invest as much as possible in bitcoin.
But for many of us, our financial background is not so strong and so we have to find out ways to earn more money and save money to buy more BTC.
What OP can do is he can utilise his skills so that he can provide some services and earn BTC.
If not he can do some part time job to earn an extra income and then invest the same in bitcoin.

indah rezqi

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Quote from: Mr.corol on March 03, 2023, 11:10:55 AM

I feel really happy today. To me bitcoin . And you say I am opening wallet by phone. Everyone pray for me in future know I can invest more in Bitcoin

Some mobile wallets will also support your investment plans in bitcoin. Electrum is the one recommended for android wallets, but if you are unsure about another wallet then go for it as long as you understand the risks. Consider using the most recommended wallet for your bitcoin storage, then don't forget to back up your wallet.

I know you're not starting with a big budget, but bitcoin is a great place to start. Accumulate as much as you can and invest regularly when you have budget, don't force it but do it consciously without high expectations.

Wapfika

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Quote from: maydna on March 03, 2023, 10:28:46 AM

I am glad to see you have started investing in bitcoin. I advise you to transfer your bitcoin balance to another wallet and don't keep the bitcoins on an exchange because you can be tempted or panic if market conditions change for the worse.

And don't stop here to invest in bitcoins but make subsequent purchases and send those bitcoins to other wallets. Don't forget to specify how long you want to invest in bitcoin and when you sell bitcoin to take advantage. Hopefully, you can have more money so you can invest in bitcoin.

Having own hardware wallet too will be fine maybe in the future he can get one once he accumulate more bitcoin, it’s good to start in any amount possible since by that time OP will have more courage to learn more and to do more in things related with bitcoin. There is always a need to try and do it before we will know if it’s meant for us or how will it works and it’s a nice move that he invest it than spend in other things. It can be a stepping stone for him to learn to trade or a start for him to hold more bitcoin in the future.

KaliLinux

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Quote from: Justtoons on March 03, 2023, 02:40:22 AM

Investment in Bitcoin is not a do or die thing. You shouldn't use all money at hand in investment but rather extra cash that has little or no use to you. No one said that you must invest in Bitcoin. You should consider yourself first so you won't go broke

.

Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

https://imgur.com/a/l7BOzEN
https://imgur.com/a/iEpBAcU
I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

On the other hand, it's a good start but it won't be nice if you loss your investment to a scam after all the savings so be careful. You should have spent the money on what your father gave it to you for. all that is actually not necessary.

His saving the money for Bitcoin investment isn't a bad thing either and maybe he has weighed the option between spending it and investing in Bitcoin. I believe everyone that comes to hear and understand Bitcoin a bit will certainly want to invest if only for its speculative nature even though all investors might not understand its technology so on that note, OP has taken the right step, and hope he is able to continue on this move which will be well worth it in the long run.

salad daging

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I like your way because you have matured how to think about future investments and can save your own pocket money.

I know this is a good start even though right now I don't have a lot of money to invest it doesn't matter because you already understand how to buy bitcoin and how to invest it, if possible later you have worked and can earn yourself then it can be arranged better to increase your investment if you believe in bitcoin, maybe you also understand the risks, but we must be aware of how bitcoin can be higher than its volatility.

Good luck any friends at it starting small, I think you can improve it one more time.

ancafe

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If storing bitcoins on a particular exchange there is still a lot of security risk at stake and it is best to store them in a non-custodial wallet. Looking anonymous in investing in bitcoin is much better than trying to be open, because you never know the level of risk that will be involved.

Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money.

That means you already understand the right use of money for you to use, once again you have done the right thing to use money, because having an investment plan is much better than having a lot of money but not starting and on the other hand many people have benefited and profit from bitcoin.

Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

It's not how big or small that matters, but the way you use small capital to invest will give you big results, if you understand the correct investment pattern. It takes careful planning when you seriously want to get involved in bitcoin investing, small amounts will become bigger when you start to understand how to make a profit.

Smack That Ace

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Assalamu Alekum

Quote from: Mr.corol on March 03, 2023, 11:10:55 AM

Quote from: m2017 on March 03, 2023, 10:32:34 AM

It is commendable to hear that you didn't spend the money given by your father on all sorts of trash, but decided to buy bitcoin. This is a small amount, but it adds up to a significant amount. Little by little, your wallet will become heavier. Admit it, you experienced joy and slight euphoria from the first purchase of btc in your life? Judging by the pictures, you used a mobile wallet. I would recommend that you better switch to desktop electrum when the balance gets a little bigger.

I feel really happy today. To me bitcoin . And you say I am opening wallet by phone. Everyone pray for me in future know I can invest more in Bitcoin

It's a centralized exchange and it's really not safe to store your bitcoins there. Some people have also suggested it to you, and I think you should learn about it quickly because it is very necessary for your bitcoin “not your keys, not your money.” But I think you will not do it now because, with your modest amount, it is tough to withdraw bitcoins to your non-custodial wallet but do it if you have more bitcoins later.

Mr.corol

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Quote from: m2017 on March 03, 2023, 10:32:34 AM

It is commendable to hear that you didn't spend the money given by your father on all sorts of trash, but decided to buy bitcoin. This is a small amount, but it adds up to a significant amount. Little by little, your wallet will become heavier. Admit it, you experienced joy and slight euphoria from the first purchase of btc in your life? Judging by the pictures, you used a mobile wallet. I would recommend that you better switch to desktop electrum when the balance gets a little bigger.

I feel really happy today. To me bitcoin . And you say I am opening wallet by phone. Everyone pray for me in future know I can invest more in Bitcoin

CoinEraser

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Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. -snip-

Congratulations on your first bitcoin investment. Always nice to see that more and more people are investing in bitcoin. But always make sure not to invest more than you are willing to lose or what you can lose without harming yourself. That's always important. While I and many others think investing in bitcoin will always be worthwhile, there are still risks to be aware of.

I would also take the advice here in the thread seriously and not leave bitcoins on an exchange. There is always a risk that you could lose these coins. Wink

m2017

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keep walking, Johnnie

Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

~snip

It is commendable to hear that you didn't spend the money given by your father on all sorts of trash, but decided to buy bitcoin. This is a small amount, but it adds up to a significant amount. Little by little, your wallet will become heavier. Admit it, you experienced joy and slight euphoria from the first purchase of btc in your life? Judging by the pictures, you used a mobile wallet. I would recommend that you better switch to desktop electrum when the balance gets a little bigger.

maydna

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I am glad to see you have started investing in bitcoin. I advise you to transfer your bitcoin balance to another wallet and don't keep the bitcoins on an exchange because you can be tempted or panic if market conditions change for the worse.

And don't stop here to invest in bitcoins but make subsequent purchases and send those bitcoins to other wallets. Don't forget to specify how long you want to invest in bitcoin and when you sell bitcoin to take advantage. Hopefully, you can have more money so you can invest in bitcoin.

leonair

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Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

Investing in Bitcoin is always a good decision. We see stories about investing in Bitcoin all the time. But I'm confused as to how true it all is. Anyway congratulations for investing in Bitcoin at the first time. Hope you are aware of the risks before investing in bitcoins and choose a suitable non-custodial wallet to store them well. According to your screenshot it appears that you have put the bitcoins in a centralized exchanger which is very risky. So choose a non custodial wallet to avoid risk

Cryptomiles1

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It's good to see that everyday by day people are really going into bitcoin holding, I am very amazed and I believe you keep holding or accumulating gradually. The next thing I will suggest you is that get a well known wallet to store your funds because leaving it alone on exchange doesn't guarantee your asset is secure being that exchange are vulnerable for hack which I think as a beginner who is trying to get routed into bitcoin is not meant to start shading tears of being hacked at this early stage.
I know too well that there are lots of guidelines that have been posted here and i trust you devote time to read through this thread thoroughly.

Sorryfor

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Quote from: Mr.corol on March 03, 2023, 02:26:39 AM

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

Congratulations, on your first investment in Bitcoin. I think you were very interested in investing in Bitcoin and finally invested in Bitcoin with your savings. Then you invested in Bitcoin it is very good for you. and I will tell you to continue investing in bitcoins because your little money will turn into more money in the future. so the decision you have taken to invest in Bitcoin is definitely a very good move you have taken and it bodes well for your future.

Fuso.hp

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Welcome to invest. Best of luck to you and hope you get the hope you invested in Bitcoin. But always have faith in the market. And since investing always keep one thing in mind that how you actually invest is whether you invest for long term or you invest for short term. If you invest for a short period of time, you will sell your coins if you get some profit. And for a longer period of time you will hold your coins.

xSkylarx

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I wish you more luck and profit in the coming months and years. I hope you will save more like the $14 you've spent right now in bitcoin. Continue to accumulate it, like if your father gave you money to buy something, and if there are still extras on it, then put them in bitcoin because, overtime, you won't notice that you've already accumulated a lot of it. Congrats on your first purchase, and please continue to learn about bitcoin to keep your bitcoin safe, as well as get in touch very well with bitcoin.

Topic: My first investment for Bitcoin (Read 364 times)