Topic: My First Purchases of Bitcoin - page 2. (Read 725 times)

Wow, congratulations to you.
As a newbie, this is a good beginning, right? Some people may think twice to start their Bitcoin investment in that amount. But here, this is not only about the amount that you are investing, but more about the value, experience, and also beginning. Something big is sometimes started with something small. However the money, will be growing more if we are able to hold them for the long term and add the amount even little by little. Btw, this may not be easy to take the first step there must be some doubts on it. But, be sure that Bitcoin investment is much better than invetsing n new projects with very high promise. This is a really good move.

You should not be scared of the bear market because it is just for a little while and if you keep investing and buying more holdings then I'm due time you will be a millionaire when Bitcoin commence the bull run. I will also like to congratulate you on your first purchase of Bitcoin and with this you are build a safe and big future that will be very profitable in some years coming. Bitcoin is a digital currency and can be use in many online store to make transactions. The price is down now giving us opportunity to buy at an affordable price.

You are also one of the bitcoin holders, congrat for that. I hope you know how to secure your bitcoin, after purchasing your bitcoin from exchange, you should transfer your bitcoin from exchange wallet address to your non custodial wallet address, for security reason and make sure you secure your private key well, make sure it is stored offline where their won't be access to internet. We all see what's happening to FTX exchange currently so we shouldn't leave our bitcoin on exchange for no reason.

We are currently in bear market and most people are discouraged with bitcoin price, we might go dipper nobody knows, but whenever you see your bitcoin price reducing don't panic just hold, the only thing that will reduce is price, the amount of bitcoin you are holding will remain the same and if you can hold, then you are going to make money from bitcoin in the nearest future.

Congratulations that you finally hold Bitcoin, dude.
I really expect you have more Bitcoin since 0.00032258 BTC looks like not enough if you have a dream to gain big profits.
But don't force yourself to buy, only buy when you have an extra money. 

I think it is an easy time to buy now.
Bearish season is the best time to buy, you will have a low risk to buy now.
You should be worried when you buy in the bullish season, the price to drop drastically when it is over. While if you buy in the bearish season, the price probably rises when this season is over.

I don't think so, although I'm not particularly familiar with all the options these days. I don't really use exchanges all that often. Yeah, definitely agree on that, I think the majority would agree on moving them as soon as it's feasible.

What I'm hoping for is exchanges in the future just drop wallet support, and have a sort of system that just sends you the Bitcoin to your external address you own, as soon as they recieve the funds via fiat. That way, there's no option of storing the Bitcoin on their centralised exchange, which would avoid most problems when things like this happen, at least it would protect a large portion of users from losing their Bitcoin. It can be done, and there have been websites that have done this, they just charged a service fee like normal.

There's actually no reason for an exchange to have a wallet, it encourages bad practices. It makes sense for them, since if you have Bitcoin on the exchange, and the price crashes, people are more likely to act on an impulse if they don't have to send their Bitcoin to the exchange, and wait for that. Instead, they instantly withdraw when they can. What I'm proposing makes exchanging longer, and less convenient, but I believe it's much safer, and should be the industry standard.

You'll never see centralised exchanges fully convert though, there's too many benefits of them having their own wallet. Not until the community standard becomes only using decentralised exchanges will we see it.

^You are in the right decision and welcome to the community and as a part of an investor.
You can purchase BTC in a DCA way like this, a small amount every time BTC will drop the price and until such time you will never know you have held a lot of BTC in your wallet. Just set a target of profit in a long term and hold your BTC in a long term, it is very worth it to wait rather than thinking of a quick getting rich on investing BTC. Well congratulation to you buddy and hope that your plan to invest more will succeed.

It is the route to follow and hopefully people will finally start regardless of the amount, as you have done.

 You make a comment in reference to buying right now, and what if you don't have confidence now, then when?

 It is always a good time to buy bitcoin, it is now and it will be when it is at $20k or $100k etc.

 Congratulations.

Glad to see this, however, the courage of a newbie to investing in Bitcoin which is full of risk is worth a thumbs up. The decision to invest in Bitcoin instead of altcoins is the right decision, especially if you want a long-term investment. Whatever the amount, this would be a valuable start. Then hopefully you can get even more in number.

Precisely during a bear market, this is a very good time to buy Bitcoin. Why? Because the price is quite cheap and we can hold Bitcoin for the long term, so that later when the price goes up, we can get a lot of profits. Keep it up

Congratulation on your first purchase @OP, this remind me of my first purchase of Bitcoin, while you do it in P2P, my first purchase was paid over the counter of 7 eleven.  I know it is quite exciting to share the experience and it is thrilling to see our very own wallet having a fraction of Bitcoin in it.  And its so lucky that you had timed your purchase where the price is somewhere in 2018.  It is like purchasing BTC in 2018 when you are actually buying BTC in 2022.

Exciting to be honest. Doesn't matter what is the amount you bought. But for the first experience, really exciting. Hope your experience with buying Bitcoin was smooth which would inspire you to invest more. It's not easy to invest during a bear market, but thank you dare to do it. Just keep secure your funds, and learn more about Bitcoin and wallets. Try to learn how to use a non-custodial wallet or hardware wallet. Read more threads on the forum so you would learn a lot of things related to crypto.

This is the first step in a journey which can be both easy or difficult depending on how convinced you are about the future of bitcoin, if you are only interested in making money in this market it will be a hard journey as the bear market can be very discouraging to new investors, but if you really believe in what bitcoin stands for and the freedom that it gives us then bitcoin could be the prefect asset for you and bring a great improvement over your life as long as you keep investing more money in it.

Start small and in the future you can do even bigger after your first experience, because it's not enough to invest once in bitcoin, it takes several times, you can also apply the DCA strategy that I use and start buying every week it's okay even with a small nominal as long as you can be consistent with your long-term investment journey.

Many have said your courage, I also appreciate that you have taken steps forward so far. In the future, you can understand how the market works, prepare your mentality when the market is bearish, which is even worse, don't check prices frequently in the market, it will affect your psychologist towards investments made, just do DCA let it flow like river water.

Having learning with the basics should really be sufficient enough and this is the first step that he had done.Now that he had bought Bitcoin on small amount then pretty sure he would really be buying
even more on the future since he had already have the idea. Of course it would be always ideal on buying bitcoin when it is plumetting or decreasing or cheap because its never
been that good to enter when prices are on peaks.This is why the current market condition is the most ideal time or situation to get in.
Spreading out words about Bitcoin or overall crypto into someone is really a good thing to be done, spreading up awareness and recognition
is what we do all need to make this market even more higher.

Obviously a bear market is one great opportunity for long term investors to take advantage of buying lots of bitcoins instead of buying them when the market recovers. A lot of people who bought for $50K will probably regret that during November 2022 the bitcoin price has dropped to its lowest point, they will really want to buy it again and I think they will if finances allow it.

$5 may not mean much, but it's a good first step to gaining some knowledge of how the market works. OP can increase his investment in the future for whatever he can afford to lose, main point is he did what we should be doing now.

He can always DCA if the price of Bitcoin goes down.  The current crash of Bitcoin price enable the OP to buy more Bitcoin.  I think OP isn't new in the industry although it is his first time buying BTC, he has knowledge about what is going on since he has another thread that encourages his pastor to buy BTC, even saying that the pastor is under his guidance.  Here is the said thread: I Taught a Pastor Friend on Bitcoin.

Anyway, congratulations on your first purchase, I hope that will be the start of your Road to 1 BTC.

A very brave step where beginners can buy bitcoins in a bear market while on the other hand there are those who say this is the right time to buy but beginners are certainly hard to do but you are brave with this step even though the value of your purchase is $ 5 but it will continue to grow in the future along with your courage to have long-term investment goals.

As suggested you don't store assets on exchanges as there has been a lot going on especially recently on FTX and use a hardware wallet if you have one or a wallet that has a private key that can be stored properly.

This is a good stage if you make regular purchases at low prices.

Congratulations for your first purchase of Bitcoin and your screenshots looks like you bought bitcoin from p2p trading and used fiat money . it is really a good time to bought bitcoin because now bitcoin in a huge dip and due to bad news of FTX exchange The prices of all coins, including Bitcoin, have fallen at an extraordinary rate.  But it doesn't seem that the price of Bitcoin can fall below 15k so this is a right time for you to buy Bitcoin even if you are new to Bitcoin. good luck for you op

Congratulation on your first purchase of Bitcoin, good thing you picked the courage to buy bitcoin because if you chickened out, you will be missing a huge opportunity.  I know there are lots of doubts running through the head of investors especially now that the price of Bitcoin had a huge crash but if they look at the history of Bitcoin, this crash is just one way for the market to open up an opportunity to the newcomer.  Eventually, the market will recover and you will find out that you didn't made a mistake jumping into the Bitcoin wagon.

Congratulations on your first purchase, although the amount is small, you can pick up from here and begin to use the strategy of DCA-ing to increase your portfolio. Starting something is usually the most difficult thing to do,  but as you have started, with some dedication you can keep it going with a little more discipline and in a little time your portfolio will greatly improve. As an extra advice due to the current situation in cryptocurrency, you should know that exchanges are not the place to store your bitcoin, and since you're making an effort to get bitcoins for yourself you should also make an effort to keep it safe.

Congratulations, OP! Even though your purchase came out for a small amount, the main thing is that the first step has been taken. Likewise, as a newbie, I bought a few dollars worth of bitcoin in 2018. Being a beginner, I did not know about all the intricacies of wallets and bought them through Web Money. And only after I began to study the forum deeper did I realize that I should not trust such wallets.
Even if bitcoin starts to rise sharply, your profit will not be big, but it is always nice to realize that you, although small, are already a bitcoin holder to some extent. Don't stop with your investments, and don't stop believing in bitcoin.