My First Purchases of Bitcoin - page 3.

Lucius

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Quote from: Welsh on November 12, 2022, 06:21:05 AM

Unfortunately, the withdrawal costs basically forces you to keep on there, unless they're using an exchange with no withdrawal costs. If it's the latter, I'd say bugger keeping it on the exchange, and get it out as soon as possible, since this is your learning stage, and you don't want to be picking up bad habits for the future.

Is there a CEX that does not have a withdrawal/service fee? I heard that the one that just failed had that option, I just don't know if it was valid for everyone or for those who bought their tokens. I think the OP has no choice for now, but if he continues with investments and collects a significant amount (for him personally), he should ask for advice on which non-custodial wallet to choose - even a respectable desktop crypto wallet can serve well for smaller amounts.

Obari

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Quote from: DaNNy001 on November 12, 2022, 04:44:42 AM

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which is equivalent to 0.00032258 BTC and I am planning to buy more. And I am investing for a long term investment. Happy first purchase.
It is not easy for someone to buy bitcoin because of the bear market at this time but I picked courage and bought it.

Congratulations mate and welcome to the world of Bitcoin
We're both in this together and I want to assure you that you've done noble and it's a big win for you especially during this bear period.
I also want to encourage you to please buy more at every instance and opportunities you get because you will definitely benefit it from it when the bull run comes.
Also try as much as possible to not share your pass phrase.
Always try as much as possible to always take out some time to read and know more about Bitcoin as now you've invested some real money in it.
Kudos and I wish you success on your new journey.

Cantsay

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Quote from: DaNNy001 on November 12, 2022, 04:44:42 AM

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which is equivalent to 0.00032258 BTC and I am planning to buy more. And I am investing for a long term investment. Happy first purchase.
It is not easy for someone to buy bitcoin because of the bear market at this time but I picked courage and bought it.

That's a great step Op, and I'm sure you will never regret the decision you just made.
You did a great job summoning up the courage to buy Bitcoin even in this current market condition.
Just keep hodling and you shall see the end result.

Yatsan

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Quote from: DaNNy001 on November 12, 2022, 04:44:42 AM

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which is equivalent to 0.00032258 BTC and I am planning to buy more. And I am investing for a long term investment. Happy first purchase.
It is not easy for someone to buy bitcoin because of the bear market at this time but I picked courage and bought it.

Good time to buy and it's good you are happy with what you did. Nevermind the amount; there's no big or small investment. The moment you've engaged to investments, it takes courage 'coz not everyone will do it for the sake of seeking profit. It is a small step to some but on another point of view, it is a big step towards profit seeking attitude or behavior. Continue learning new things; there are other ways to make your investment bigger, you just have to learn and choose which one would best suit you as an investor.

Also be open for ups and downs on your first investment. The nature of the market value of cryptos, is volatile. There are periods wherein a particular trend is evident which I believe you are aware already (hoping that you really are because it is the conflict for the new investors out there).

Coin_trader

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That small amount coming from new holders is very important to make Bitcoin more stronger since it is distributed on different small wallets and not prone for manipulation. Crypto become shit pump and dump because of wallets that holding huge chunk of Bitcoin.

This movement is good if everyone will follow and do the courage to buy even with small amount while whales is unloading there coins. It's time for retail investors to purchase whale coins at discount price and not the typical scenario that retail buy at top and sell on bottom. Good job OP!

m2017

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Please accept my congratulations and welcome to the world of bitcoin. You will remember this moment forever with the first purchase of BTC.

What app did you use to buy it? This is the mobile version, right? It's amazing what you can buy even for a small amount of ~5$.

If you are planning larger purchases in the future (say, starting from $50), then don't be too lazy to test services like bisq or bestchange. You may find a seller with better conditions.

I wish you that the balance of your wallet, albeit little by little, but constantly grows and is always safe.

Zlantann

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Quote from: DaNNy001 on November 12, 2022, 04:44:42 AM

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which is equivalent to 0.00032258 BTC and I am planning to buy more. And I am investing for a long term investment. Happy first purchase.
It is not easy for someone to buy bitcoin because of the bear market at this time but I picked courage and bought it.

Its great to see that regardless of the bearish run, you still had the courage to invest in the Bitcoin space. Bitcoin might be facing a little challenge currently but I am very sure that it would bounce back. Your investment is a smart one and you wouldn't regret it. But I want to encourage you to be very patient because Bitcoin is not a get-rich-quick scheme that most ignorant people claim it is.

You must also ensure that you keep your investment safe and secret. Although these centralized platform cannot be trusted but you must ensure that you keep your phone and email password safe to avoid fraud. Also ensure only people you trust are aware of your investment to avoid been targeted by criminals that may think you have become wealthy. Yes, most people are unaware that Bitcoin can be bought in units. They feel that you can only buy it as a whole, which might make them feel that you can afford $16,869.12.

drwhobox

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Good to see you here, and congratulation on your first step toward digital currency. Do keep in mind that a bearish market is perfect for buying so don't regret your decision, you make a right one.
A friendly piece of advice for you- if you buy more bitcoin to invest don't keep it on the exchange transfer them to your wallet, and gain knowledge about wallets, there are different types of wallets. I personally use a desktop wallet (electrum). Always do your own research before taking any action with your coins.

Welsh

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I'd recommend familiarising yourself with wallet software, potentially practice with testnet, because your priority will be getting that Bitcoin off the exchange, and into a wallet that only you own. Especially, in light of recent developments with FTX.

Quote from: Lucius on November 12, 2022, 06:15:41 AM

What you need to know is that when you have a larger amount of BTC in your exchange account, you should consider transferring it to a non-custodial crypto wallet so that only you have control over your private keys. Such small amounts are simply not worth transferring, because the withdrawal/service fee may be higher than the amount you have now, so accumulate sats and in the meantime look for a non-custodial wallet.

Unfortunately, the withdrawal costs basically forces you to keep on there, unless they're using an exchange with no withdrawal costs. If it's the latter, I'd say bugger keeping it on the exchange, and get it out as soon as possible, since this is your learning stage, and you don't want to be picking up bad habits for the future.

Lucius

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Congratulations on your first BTC purchase, and I hope you will make many more in the future Wink

What you need to know is that when you have a larger amount of BTC in your exchange account, you should consider transferring it to a non-custodial crypto wallet so that only you have control over your private keys. Such small amounts are simply not worth transferring, because the withdrawal/service fee may be higher than the amount you have now, so accumulate sats and in the meantime look for a non-custodial wallet.

DaNNy001

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I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which is equivalent to 0.00032258 BTC and I am planning to buy more. And I am investing for a long term investment. Happy first purchase.
It is not easy for someone to buy bitcoin because of the bear market at this time but I picked courage and bought it.

Topic: My First Purchases of Bitcoin - page 3. (Read 725 times)