Bitcoin Forum

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Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.

So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.

First of all congratulations on your first bitcoin hold, i hope this is amount you can afford to lose and not your entire wages or salary. As that will help you to hold it for long. Looking at this the screen this is a binance wallet which is a centralized exchange and that’s the least of place to safe your coin because the keys doesn’t belong to you. I will advice you look for a reputable bitcoin wallet and in my opinion electrum is that wallet. Create a the new wallet yourself and don’t let your colleague do it for you and then keep the secret phrase safe in an offline place. Then move the coin from this exchange to the wallet. If you do not have basic knowledge of this then you can ask on the forum and you will be guided.

Going forward please do not post screenshots of your holdings as it dampens your privacy. You can also edit your post and remove this one. Also if you’re planning to add more bitcoin to your holdings then you might need to set up a cold storage like purchasing a hardware wallet. You can continuously keep buying bitcoin when you have the fund never wait for any price retracement as that will be a wait too risky if it doesn’t fall back

Here is the link to download an electrum wallet  https://electrum.org/#home (https://electrum.org/#home)

I recommend you to use a hardware wallet sincerely, it is the best investment you can make to secure your bitcoins, but you must take into account what use you are going to give to the bitcoin, you are going to send currently to other addreses? or just to store bitcoin? in my experience I recommend you to use as hot wallet, Exodus, user-friedly app (remember to save the seed phrase) and in the case of cold wallet, ledger or trezor could be your options but that is based on what you want ,the design, the budget etc... just hope you the best in this btc community brother and remember never ever let your coins rest in exchanges.  

Five figures a month you say? In what currency if I may ask?

congratulations bro on your first bitcoin purchase, how does it feel? Very exciting isn't it, plus a little nervous, so remember when I bought my first Bitcoin. For security, I think as long as you don't give your password, PIN, or account password to other people then everything is fine, but if not, I suggest you move to a new wallet. If you already have a lot of Bitcoin, I recommend hard wallets like Trezor and other hard wallets, they are very safe and difficult to hack.

Nope. Binance (and any other centralized exchange) is one of the worst possible places to store your bitcoin and should be moved as soon as possible,just keep in mind that withdrawal fee is not negligable.


I guess you meant to say Electrum?Anyway, Electrum is one of the best bitcoin wallets so it should be on top of your list. If (when) you can afford it, hardware wallet would be even better solution as it would give you another layer of protection and if you plan to be into bitcoin for a long run, getting one should be one of your priorities.

Well, as they say, better start no matter how much it is. Congratulations on your courage to start investing in the bitcoin or crypto currency world. The fact that you've allocated an amount of money to buy an asset means you have the will to continue investing in crypto. This may be the start of your journey, but remember, you're not just going to buy and sell; I think you know that you need to hone your knowledge and skills in terms of crypto currency or bitcoin if you want to focus on one currency only for the time being.

I guess you should move your holdings to a cold wallet rather than a secured wallet if you will just hodl an asset because storing it on a platform like Binance is unsafe. I mean, just to make sure that your asset will be untouched secured. Im not saying that Binance is not a secured platform; its just to make sure that nothing will compromise your asset.

Congrats on your first 👏🏽
You can store on any of the decentralized wallets like Trust Wallet, it's a popular choice that i knkw a lot of people use. Good luck

Congratulations on investing in Bitcoin. Whatever amount you can invest, try to invest consistently using the DCA method. If you always invest in Bitcoin using DCA method then surely you will get good success.

Since you are asking for advice I would suggest you keep your investment in your own wallet. Because investing in any exchange wallet looks very risky. Since you have heard of Electrum wallet to keep your investment, you have not chosen a bad wallet. Electrum wallet is definitely good if you can keep the seed phrase very safe. There are also many other wallets that you will get to know if you are active here regularly. But of course you should keep your wallet seed phrase very safe so that no one can steal it somehow.

Congratulations on your new job and also buying your first bitcoins. I will advise you to move your bitcoins from Binance to a non custodial wallet like Electrum or Blue wallet.

[General] Bitcoin Wallets - Which, what, why (https://bitcointalk.org/index.php?topic=1631151.0) 

Naira, I think. OP has made a couple of posts in the Nigerian local board, I assume he is Nigerian.

That’s not true. Trust wallet runs on centralized servers so it's cannot be classified as decentralized, and to top it off, Trust wallet is closed source.

Actually this is confusing as how can you work so hard when you have no JOB?  mind explaining this for us to really believe that you are talking here?

another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us  above that you are working so hard to invest in bitcoin?

You said that LONG TIME AGO you wanted to Buy Bitcoin , But up to this part you dont know what to do? the very moment that you consider buying then you have dig the formula to how can you buy and where to store it safely, sorry but you seems to be having different plans than asking this questions.

It's not safe to keep your coins on an exchange it's more risky if the exchange gets hacked, or collapses due to bankruptcy.
I just heard of Electron? What kind of wallet is that, do you mean Electrum?
There are software wallets that you can use to store your BTC by having full control of the seed phrase, you can also use hardware wallets by purchasing but these cold wallets are the most secure way.

I think it's in Nigerian currency, but I don't know what 5 digits is a dollar? I think it's pretty big, especially with $110 investment every payday. wow :o

$110 is a decent amount of money. For someone earning five figures in naira, I would say OP outdid himself. As a rule of thumb, you should invest what you can afford to lose. If $110 is what OP can afford to risk, that’s his  prerogative.

Other than scrutinizing the OP, do you have any advice for the OP. I have been seeing a lot of threads from newbies about how older members are harsh towards them. Reading your comment on this thread, I understand why they feel that way.

Exactly. If $110 is already huge for OP, we must respect it or maybe OP is just trying small first and then slowly adding more, it depends but as per OP, it is already decent money.

We all know how risky cryptocurrency is and volatile it is.
For now,  let's appreciate what OP did regardless of the amount.

Be careful, that's electrum and not electron. Because if the spelling is wrong, you're likely to download the wrong wallet and lose all of your holdings in a glance.

Based on his posting history, he's from Nigeria so likely it is the Nigerian Naira.

@OP, I'd like to congratulate you with your first ever bought Bitcoin and this isn't the end of it and you're just starting out. Do always buy whenever you're comfortable and without having to restraint your budget. Good luck.

Firstly this statement is fallacious.

Well congratulations on your first Bitcoin purchase, although there is a thread that discusses Bitcoin achievement records etc so you could just post your first Bitcoin purchase there.[1] Also making use of search button [2] regularly is very crucial in order not to duplicate or repeat things too much.

If there is any good wallet that people will suggest you should use it's just electrum but there are other wallets that you could use e.g sparrow wallet, Blue wallet etc but not there are not as good as electrum which you already know of.

I'm also a newbie but I know of a thread that has so much insight on Bitcoin accumulations which is buy the dip and hodl[3] in that thread JayJuanGee shares alot of knowledge on healthy Bitcoin accumulation. There is another thread you might want to visit which is JJG's Outline of Bitcoin Investment Ideas[4]

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[1] https://bitcointalk.org/index.php?topic=5433429.0
[2] https://bitcointalk.org/index.php?topic=5276341.0
[3] https://bitcointalk.org/index.php?topic=5132720.0
[4] https://bitcointalk.org/index.php?topic=5376945.0

That's the main question, haha.
If he says he earns 5 figures a month but will "only" invest like 100$ this doesn't add up.

So I doubt it will be $ or euro. Since he is posting in the Nigeria section (I just checked) I guess we have our answer. The problem though, 10000 naira is only 11$ .  ;D That means even a 6 figures payday wouldn't be much money.

Anyway, it's always nice to hear stories from new bitcoin holders and supporters. Hopefully the support will only rise from here so that btc never dies.

First of all, I congratulate you for taking a great step, buying Bitcoin is not a trivial matter and with the great thinking you have behind it, I can see very well how you Want to buy Bitcoin and then how did you succeed then I want to submit that your thinking about Bitcoin is very good and you have a very bright future in it.

The bright future means you will benefit a Lot because you are collecting bitcoins now, collecting bitcoins is going to take you far in the future and for that reason I would recommend you to be a follower of whatever hardware you are using is safe pal etc, you can deposit whatever amount of bitcoin or other coins you have into it.

Buying 110 dollars in the first step is a big deal because he has taken one step. The most difficult step is the first step. The rest of the steps can be done very easily, but taking the first step is not for everyone. Now he has taken a step, now the way will be paved for him, that is, his thoughts and concerns will start working for a very long time, and provided that he does not go back from his goal now. He bought the bitcoin at $110. Now if Bitcoin goes down, that $110 will become $80 so he shouldn't sell it amd do patience then his future will become very good.

Congratulations, this is the right step taken in the right direction. This is a decision you won't have to regret in your lifetime. Now you have to apply decipline as you have started this journey. Make sure that you have the right mechanisms set in place so you won't have to empty your bag, rather you will keep adding to your bag from time to time.

Op, congrats on buying bitcoin for the first time. First you bought $110 worth of bitcoins which is a good amount. If you can continue to invest this amount every month in DCA method then your investment amount will be very big in this year 2024 itself. Based on Bitcoin's past history, we can expect Bitcoin to exceed the maximum ATH in 2025. However, this requires you to continue patiently, and hold for a long time. Many people here have given you different ideas about wallets, you should accordingly transfer your bitcoins to good wallets instead of keeping them on exchanges. Hopefully if you can hold your investment for a long time then surely you will be able to profit a lot.

There are many exchanges that provide bitcoin purchasing services and you don't need to use a third party to buy them because currently there are many exchanges. Investment in bitcoin has a level of independence and we do not need a third party to run it and in fact the unique thing about bitcoin is that it does not require other people to run the investment. It's best to use a trusted exchange to buy bitcoin and you don't need to use a third party to buy it.

The level of asset security really depends on what wallet you store it in and it seems that it is not Electron but Electrum. As time goes by, you will get used to learning the accumulation process so that there are many opportunities that you can use to buy bitcoin. Welcome to the bitcoin community, I hope you remain consistent in collecting and most importantly, don't panic under any circumstances. Learn a safe wallet to store bitcoins because it is quite an important step for anyone.

There are two threads to announce your first Bitcoin purchase, sale, whatever milestone you feel great.

Announce your story with Bitcoin, first purchase, sale, business, education ... (https://bitcointalk.org/index.php?topic=5433429.0)
Announce your rank up, merit or any achievements that makes you feel great! (https://bitcointalk.org/index.php?topic=5391471.0)

You can continue to accumulate Bitcoin with Dollar Cost Averaging DCA.
https://costavg.com/
https://dcabtc.com/

Bitcoin gives your private keys and your own banks. Buying or selling or storing bitcoin by yourself, with your private keys. Don't rely on your co-worker.

Best wishes and congratulations as you earn your first Bitcoin. You have shared your experience with us and we are very happy to hear your life story of earning first Bitcoin. Seeing this joy and experience of yours will make many people interested in Bitcoin and such experience stories have a positive impact on Bitcoin Adaptation.

OP, I was interested in reading your post history because there was a lot of skepticism among users about your claim of a five-figure salary. But now that I see that you are passionate about being not only a Bitcoin talker but also someone who has some funds in Bitcoin, I want to congratulate you on your purchase. I don't see that you need any advice about the Electrum wallet (https://bitcointalk.org/index.php?topic=5480603.msg63450590#msg63450590), since you know about it and how to save the seed phrase. But reading that you had to work a lot to buy Bitcoins, I would like to advise you to allow yourself those amounts, the loss of which will not change your life for the worse.
I am sure that you have strong hands and that you will be a good holder of Bitcoin, but in the future, set yourself the goal of buying a hardware wallet since storing your valuables on your phone cannot be completely secure. Good luck!

First of all congratulations on starting your Bitcoin investment journey. Second, congratulations on finding a new job. Hope you are able to manage both the investment and your job properly. Investing in Bitcoin Everyone starts and everyone is interested in investing in Bitcoin but not everyone can hold the investment in Bitcoin for a long time. We need patience to hold bitcoin investment for long time I think you have that patience and you will hold it for long time because you have an income source It will serve you well.
Oh shit man, you've started investing bitcoins yet can't choose a wallet to store your bitcoins in.You should use non-custodial wallets to keep your invested bitcoins safe and secure. The advantage of keeping bitcoins in a non-custodial wallet is that you can give your bitcoins to someone whenever you want and withdraw your bitcoins whenever you want. That means you will have complete control over the non-custodial wallet.There are different types of non custodial wallets they are Bitcoin Core, Electrum Wallet, Hardware Wallet. You can keep your invested bitcoins safe and secure in these non-custodial wallets.

Congrats on your first BTC~~

One small step for man, one giant leap for Cryptokind

Congratulations on your Bitcoin purchase. You can continue with the second buyer until you have a lot of Bitcoins. You can use the DCA method to buy Bitcoin regularly every month.

You can store your Bitcoin on a trusted exchange, where you buy Bitcoin temporarily. But it would be better to store it in your own wallet to control it directly. You can use a hardware wallet like Trezor or others.

The important thing is that you can continue your investment regularly using the money you can afford. And determine the period for how long you invest. Don't panic about changes in Bitcoin prices because Bitcoin prices always change.

When someone try to store BTC in Own favorite exchange than must be selected best wallet.

Please take correction is not electron but is Electrum to avoid future damages and also take a proper view of what you are writing or saying otherwise you would end up having the wrong wallet stored in your phone or system later on you come back here to announce how you have lost huge amount of bitcoin to scammers. You know buying bitcoin isn't the real problems the case here is how to make sure that bitcoin is properly protected without being taken away from you.

There are lots of people who invested in bitcoin but as a cause of wanting to double their profits within some limited time range they got into scam hands by sending their bitcoin to another site where they are deceived to receiving some specific amount in some hours made them not to endure and at last they sent their money there and lost everything.

Do not leave your funds in centralized exchange because is not safe and to whatever that happens to the exchange automatically your fund is gone and you can't hold anyone responsible for that so, it's better you download Electrum wallet move out your funds from exchange account to non custodial wallet where only you can have access to your wallet.

right , I even started investing in Bitcoin using 20dollars but I am proud of it because those days Bitcoin is just amounting more than a thousand dollars and I felt that 20usd is the amount I can afford to lose those days so yeah I am happy with that.
While OP starts with 110$? that is so much high for me when I am started , so Congratulations OP , you did a good job here and I believe that in the future you will add more and more to this starting investment as the Job pays you well.

It's a good sign that you have deposited bitcoins, but you can't properly secure bitcoins in an exchange wallet. Exchange wallet is not safe I am not reasonable to use it because it is controlled by others. And privacy is not protected because it is verified by your photo or ID card. So you can use electrum wallet or mycelium wallet. Currently hardware wallets are most useful for bitcoins but you can save on hardware if you don't have financial problems. Or among the software wallets you can find Electrum and Mycelium wallets are the most secure and least likely to get hacked.

Electrum is safe if you have good security and privacy literacy. In this case, you're still relying on the help of others to buy your bitcoins which means you need to learn more about how bitcoin works.
What do you plan to do with your $110 bitcoin stash anyway? I think you don't need to look for the safest external wallet if in the next 1 or 2 weeks you want to cash it out in case its value increases.

Whoa whoa, slow down with your recommendations, let OP breathe a little, as OP have said already, that they're new to bitcoin. I don't think OP needs to secure that fast when there are more cheaper options like a TrustWallet or a Blue Wallet for Android devices, he's already considering Electrum wallet so I don't think that it's necessary for OP to even consider hardware wallets especially those that have a close source. I'd say that OP should take his time and explore bitcoin and the forum to know more about the bitcoin landscape and see how OP will want to approach things in the future.

Welcome to the bitcoin market OP, enjoy your hodling journey and I do hope that you would find a lot of profits from doing that journey. My only advice to you is to learn DCA or Dollar Cost Averaging, pretty good strategy for long term bitcoin accumulation because you don't want to be not maximizing out your investing opportunities if you can help it.

Congratulations on your first purchase of bitcoin and you have done so much well to have decided to use some part of your salary to invest in bitcoin which is the best decision you have ever taken, from the look out of your images uploaded above it seems to look like Binance interface. Please make sure download a trusted and reliable wallet to save your funds inside because there is a popular saying that says "Not your key not your coin" So move your funds to where you can have a dependency of your coin that leaving it inside exchange account. If you wanna trade with it then you are fine to leave it there maybe after accumulating much profits then you can decides to move out your profits from the exchange to better place to avoid being stolen or hacked that may be launched against the cryptocurrency exchange.

Congratulations on your first investment, you have tried for a long time and finally you have money and you have fulfilled your investment dream.
You are now in a dilemma as to where you should store your bitcoins. If you think that you will keep the amount invested for a certain period of time then using Electrum wallet is the right decision for you. If you have a long-term view of investment and plan to increase your investment with your salary every month, then you should rely on exchange wallets because buying and transferring bitcoins every month will require you to pay additional transaction fees, which will cost you a lot of money. I recommend you to use an exchange wallet so that extra transaction fees don't cause problems for your investment.

OP should not store his bitcoin on phone and if he has a computer at home (desktop), it will be better device to store his bitcoin.

Store coins on Binance is unsafe practice and OP will have to consider to withdraw it to his non custodial wallet like hardware wallet like you advised or if he can not buy a hardware wallet, he can use Electrum wallet. With single signature or multisig wallets and must use strong passwords.

[LIST] Open Source Hardware Wallets (https://bitcointalk.org/index.php?topic=5288971.0)
How to back up a seed phrase (https://blog.lopp.net/how-to-back-up-a-seed-phrase/)

Congratulations on purchasing your Bitcoin, now that you own some Bitcoin I hope you'll continue accumulating more Bitcoin from now on. I would suggest you to make your own personal wallet and save your Bitcoin on that personal wallet of yours instead of allowing those on an exchange's custodial wallet. I would suggest you to learn about Electrum in detail and then create your own wallet with it, after that you may withdraw your Bitcoin from that exchange's wallet to your own personal wallet.

Wow congrats to this investment mate and that is a big amount to put in , specially that this is your beginners risk taking mate hope that you will get what you wanted here and also try to add some more monthly because that is your capacity and not because you wanted to become a instant millionaire.

Welcome to the hodlers gang. A good way to accumulate is by doing DCA, which is a bit by bit purchase of Bitcoin based on your financial strength. Since you're a salary earner, I'd suggest you go for a monthly DCA.

Don't store your funds on an exchange. You may lose your funds if the exchange gets hacked, go bankrupt, or gets shutdown by the government. Get a personal wallet and store your bitcoin. Hardware wallets are the safest but if you cannot afford it, electrum, blue wallet or unstoppable wallet are quite good.

OP, congrats you bought your first bitcoin. Also, I pray that your new career goes well.  It's normal to invest according to one's ability, you started with $110 monthly bitcoin investment which I think is a good amount. Bitcoin halving ahead looking at the historical events before and after Bitcoin halvings in the past, you can certainly expect that the price of Bitcoin is likely to surpass previous record highs. I hope you continue to invest your bitcoins using the DCA method every month and hold on to it, you will see a bull run at the end of the year. I see many have already given advice about wallets, of course you should take care of wallet security to keep your bitcoins safe.

congratulations to the OP for successfully investing his first bitcoin, whatever the amount it is, it is a good decision even if you look at your salary which is quite large, 5 digits in my country is quite a large amount. If it is true that your salary is 5 digits you should invest 1-2 btc but never mind, I'm sure there was a typo, but forget it now you have to have a personal wallet, don't store your BTC assets in exchange because it's very risky if you have a lot of them,

Keep accumulating and use the DCA strategy, there are lots of wallets you can use but Electrum is the best wallet for Bitcoin I used so far. Don't forget to set your strategy on your investment because take profit is needed to choose your next strategy. 

Congratulations to you, investing in bitcoins to buy first bitcoins is a really good decision and hopefully the amount will be very good. There are many currencies to invest in crypto bitcoin investment is the right decision and if you analyze the market you will see all the previous records of bitcoin and this time bitcoin will break all its records. The price of Bitcoin went down but then went up again. It is good to keep some percentage of your income it will be good for future but for investment you have to use good and secure wallet.

Buying bitcoin is really a good thing and you have started really with good amount more than many other new beginners have started with, and one of the good thing is that you have a job which means you can be able to save it for long as you don’t need to focus on it for survival but your salary is what you use in buying.

From the image it’s clear that you use binance to buy the bitcoin and binance is not a wallet but a crypto exchange if you need to hold it for long you will need to use either the electrum which you have mentioned or you can make use of other none custodial wallet as have been suggested by other members.

Congratulations on your new holdings.

Congratulations for taking a bod step of investing on Bitcoin from salary, which is a very big seed you have invested for future and it can only take time and also being patient while holding.

An electrum Bitcoin wallet is the best to safe your Bitcoin, and I suggest you make sure to use it because it's more safer than the binance exchange wallet that you are keeping your coins.
Moreover I am happy for you as you have bought a decent amount of Bitcoin, this is the perfect time for you to buy and accumulate Bitcoin because after this little time, bitcoin will go higher in price and the price of Bitcoin is what's making some people to not invest, but as you have started buying just make sure to keep holding it.
$110 per month will be a good amount to accumulated on Bitcoin but it will be good if you keep on buying every month.

Congratulations on the first bit of your Bitcoin, you are on a great journey financially and I can say that as I have done something similar when I joined the Bitcoin buying spree in March of 2020.
I really love when people start with small and not going all-in like a fool. Good Luck and I hope you continue buying these small bits and one day, you will reach the full 1 Bitcoin value.

As long as he consistently buys Bitcoin for long-term investment, the amount of $110 per month will make him smile in the future.  Even though the risks are very high, if you have patience and perseverance investing in Bitcoin can certainly provide satisfying results

Good dear so many many congratulations to you on buying your first bitcoin. The second thing is that if you have a plan to buy more and want to hold your Bitcoin for long-term so the best thing is to save your Bitcoin at a safer place (hardware wallets, and mostly recommended Electrum wallet) to save your bitcoin because if in case exchange run away, your funds will no more available for you. These exchanges are centralized which means your funds are under their custody. Actually fetching fee of your amount from exchanges is very high so now you have to decide if would you like to fetch your amount still with the high fee or if would you still hold it on exchange with risk.

OP Congratulations as you have started your first bitcoin investment. As you mentioned you bought $110 worth of bitcoins if you buy it every month and hold it for a long time then good results await you. You can continue to invest in Bitcoin every month with DCA method as per your convenience. Since you have started investing, you need to invest patiently because you also need to make sure that you don't have to sell the investment when you need money.

Congratulations op for the hold step you took in purchasing your first Bitcoin. I like the fact that waited till you got a job before you began your investment journey, lots of newbies make the mistake of not seeking a job first and they end up going back to sell their coin when difficult times arise. I'll also advise you remove your coin from the exchange you used to a more secure custodian wallet like electrum, cause not your key not your coin. Exchanges might get hacked any day so to be on the safer side you have to move your coins. Having done that, I recommend you also make provision for emergency fund so that you'll not have to disturb your holdings in case of emergency were money is need to sort some things out.

Congratulations you have taken a good initiative you are investing money in such a way that even if this money is lost you will not get anything it is good for investors investing in bitcoins should be done with such steps because this is a very good future.

Looking at the screenshot you shared it is clear that it is CEX exchange screenshot if not wrong then it is Binance exchange.  Since you want to buy or hold Bitcoin for a long time then Private Wallet is the better choice for you.

OP welcome on board the Bitcoin Family and congratulations on a dream come through in your end for finally getting some stackingsome stats ,You have taken the right step forward, I hope you have good understanding of how Bitcoin works, the risk involved and the benefits too , in terms of the benefits, Bitcoin is a safe heaven assets against inflation and a store of value, and  you will have the opportunity to oversee your funds, nevertheless ensure you buy with proper DCA method and don't go in all at once.

When someone is striving hard to attain something, it could also be said that person is working hard towards achieving that particular thing. It’s actually not confusing. It isn’t necessarily a job when one talks about working hard. You could work hard in your chores or in your studies. Not just in your workplace.


When after working hard and finally thought it appropriate to put in the amount he did, why should you or anyone else have a problem with it?
$110 to a great extent, is a good amount to start with for someone fairly new to bitcoin and I applaud him on that move.

Keep purchasing them every month, then you will be richer than any other people.

Don't forget, "don't pull all eggs in one basket". BTC is not the only crypto you can invest, there are plenty of options

Yeah. Thats exactly why I asked. I saw the same thing about Nigeria in his profile.  That makes me think maybe he was talking about Nigerian Naira instead of US dollars and  because 5 digits worth of Naira isnt actually a huge amount of money.  It is definitely not enough to invest $100 in Bitcoin like he said.  So Im guessing maybe he just accidentally said 5 digits when he meant to say 6.  :D

Get a hardware wallet, now you may think that it may be a waste of money to pay for something that you could get for free, and in a way you may have a point, as if you know how to secure your coins and the device in which they are stored, you do not really need to buy a hardware wallet, however since you are a newbie and you are still in your learning phase, the best you can do is to buy a hardware wallet so you can easily secure your coins and they are safe from hackers and scammers.

I'm just curious, if you don't mind, what do you mean by the five figures you mentioned? Do you mean your monthly salary is in the 5 digits? Then which country do you live in, and what currency do you use there in the country you belong to? I'm sorry if my question is a bit personal.

Because if it's in US dollars, you're making a lot of money in that case. But anyway, I still congratulate you on the first step you took. That's why it's better not to hide the Bitcoin you bought from a third party; it's better to buy a hardware wallet, or in the meantime, use Electrum, Exodus, Unstoppable, or others, depending on your choice.

Although I understand your point, I don't think a hardware wallet is necessary in the OP's case. It's still extremely early; the OP just purchased his first Bitcoin, worth $110; the Electrum wallet will work just fine in this case and probably in most cases if you're careful enough and avoid downloading torrents or anything suspicious. I see that the OP has purchased through Binance, which is also fine for smaller amounts or for short periods; after all, it's the largest exchange of all; no need to get paranoid.

Anyway, congratulations, OP, for entering the Bitcoin scene. Keep DCA-ing, and you should be fine if you're budgeting correctly. My advice is to keep purchasing Bitcoin and transfer them to Electrum for every few purchases.

Congratulations on your first Bitcon purchase! Even all the big whales we have today all started somewhere, and this $150 is a reasonable amount if we are to convert it to my local currency. Me,  I didn't even start that big. For the time being, I will advise you to buy with what you can afford.
 
The month just ended yesterday and you bought your first bitcoin. To me, you could have done a little math based on what you will spend for the month and what will be left for you. I said this because we do have some unforeseen expenses that we don't budget for, and if you have used up the savings you could have used to settle those, you might be tempted to touch what you just bought to hold. The longevity of holdings started with smart planning.

I'm grateful for this journey. Since its inception, Bitcoin has amassed some cryptocurrency.  After getting your salary, you can keep it if you'd want in Bitcoin form. These days, I believe that if you keep your money in Bitcoin, it will be a better option than having it in multiple institutions.

If your job is fixated on btc payment then you can do it its ok for you.

You have succeeded in investing bitcoin after your many efforts, my best wishes and congratulations to you for investing bitcoin. Invested hope the investment will grow slowly but to hold your investment I would suggest you to open a separate wallet as investing in exchange wallet looks very risky. It is better to open your own wallet and hold investments there than it is risky to say that any time your account gets blocked you will be in a lot of danger. But you can use Trust Wallet, Electrum Wallet, Blue Wallet, Exodus Wallet or any wallet. But investing in all these wallets will be safe only if you can keep your wallet seed phrase very safe.

I have considered non custodial wallets the best way to save your crypto assets and most importantly, the offline wallets.

Trustwallet, Solflare and Phantom and a few others are good non custodial and then if you consider offline wallets, you should look at leger and trezor wallets to do the magic but ensure you are not buying them from a third party or something

In his local currency, I'd guess, because someone with so much interest and eagerness about Bitcoin and its accumulation wouldn't just use $110 from their salary for buying Bitcoin if they are earning 5 figures in dollars unless they have extremely high expenses and can't manage to save more money than this which again doesn't sound possible to me.

Anyways, congratulations, OP. The very first thing I would tell you is to kindly not keep your Bitcoins or any other cryptocurrency in your exchange wallet unless you are planning to do day trading with it which means buying and selling within short time intervals because exchanges serve different purposes and they are not supposed to be used as wallets to keep your funds.

Electron isn't a bad choice if you don't have a lot of Bitcoin at the moment. You can always upgrade to a better option, like a hardware wallet, in the future when you have more funds to keep. For now, you can use Electron, better than Binance for keeping your funds. Just make sure that you back up your keys and phrases safely.

He still doesn't succeed with his Bitcoin investment. He needs to achieve his target and take good profits, then we can know whether he is successful or not. He just begins with Bitcoin investment, it is his first Bitcoin. It means he plans to have more Bitcoin, it is just the early of his investment journey. I hope OP realizes that he must improve their knowledge as well. To choose the right wallets and where to put the Bitcoin, it requires a good understanding about Bitcoin investment. If he only has a small number of Bitcoin, he doesn't need to create some wallets. Just create 1 wallet first, then create more wallets when it is needed. I also think having too many wallets is not a secure way, too. It increases the chance to forget the data of the wallets.

Among the wallets you stated above, I think Electrum Wallet is most suitable wallet for OP. If OP wants to keep it for a long time, then OP can choose hardware wallets.

I agree with you there. There is no need to store crypto on exchange wallets. At any moment, withdrawal conditions may change or access may be blocked. This has happened quite often recently. It's good that you warned the person. Such things do not require a delayed decision. If you do not approach the storage process in time, you can expect quite negative consequences. Hopefully such an error will be fixed in the near future.

Congratulations on your first Bitcoin! I hope this is the beginning of your journey towards regularly buying Bitcoin and building up a decent investment for the future. My suggestion is to avoid holding your Bitcoin on any exchange. Instead, I recommend using Trustwallet or Electrum to store it, or even better, investing in a hardware wallet.

Everyone wants to invest in Bitcoin for a long time.But some can continue their investment for long time and some cannot continue their investment for long time due to lack of finances. But one method to solve this problem for all of us is to make investing easier for those of us who don't have a lot of money, which is the dollar cost averaging method. Those who are interested in investing in this method continue to invest in their bitcoins with fixed amounts at specific times.

Yes, keeping our invested bitcoins in non-custodial wallets is the safest way to keep our invested bitcoins. Because these wallets are controlled by themselves, keeping bitcoins or other coins in these wallets is the most secure. Investors store their invested bitcoins in non-custodial wallets.

Congratulations on purchasing your first asset in the form of (bitcoin). Have you ever asked or asked your friends to recommend which wallet is good for storage? Maybe in my personal opinion it is better to buy a hard wallet or cold wallet, this device is only connected to the internet, if we only want to make sales transactions, this is much safer for storing your assets.

Well, congratulations on your first Bitcoin purchase looks like you finally made a decision to start investing and accumulating Bitcoin, First of all just want to share with you the Dollar cost average which is the best strategy in my opinion that you could do when investing in cryptocurrency on long term investment, that is basically just buying Bitcoin like weekly or monthly depends on your preference what even the market price as long as your accumulating Bitcoin, you could as well modify it with increasing or decreasing your buying power depends on the movement of the market, as long as you have a target price or going to sell only on the Bullrun you could easily guarantee a profit every time.

As I can see you're putting your Bitcoin on Binance which is an exchange, I dont really recommend putting such an investment, especially on an exchange since you dont really have complete control over your funds, find an open-source and noncustodial wallet, I could easily recommend Electrum for sure since that is as well what I'm using its easy to install and secure compared to other wallets. You could download the wallet here [GUIDE] How to Safely Download and Verify Electrum [Guide]  (https://bitcointalk.org/index.php?topic=5240594.0). Its better to be safe I had an experience where my funds were frozen on a custodial wallet and I wasn't able to recover it anymore because they thought that I had some kind of suspicious transactions.

This is the best sign that you have stored bitcoins.ষ  Nowadays you can store more bitcoins and you use Electrum wallet as a suitable wallet. Electrum wallet is the most secure to use, this wallet is very less likely to get hacked. But if you want to invest more money in bitcoins, then you can use monthly or weekly bitcoins.  Investing regularly every week or monthly is called DCA method. Current DCA method. Such investment should be followed with utmost importance to invest regularly and reduce from risk and everyone gets success.

It is very interesting that you have purchased a good amount of fractional bitcoins, you must have taken a great initiative. Although it is an investment with your hard and hard-earned money so you have to collect good profit from here, and you have to wait for a long time by investing. This investment of yours will definitely be successful, but you have to wait for the best time and hold it until the price of Bitcoin in the market goes to a high level. Our bitcoin halving is ahead so you have to wait for this time and if you can wait for a long time then surely you can earn good amount of money from here.

How can you buy BTC from someone and still leave the BTC in the person wallet because, it look like the write up is not too clear to me or that is the truth of your first BTC. what if something bad happen to that person you leave the BTC for, do you think the person family will accept the story you are going to tell them, that you bought BTC from he or she and you leave it with he or her to hodl till you search for the safe wallet before you can collect the BTC back.

Electrum is a safe wallet  you can store your BTC if you will take my advise because, many users have confirmed it for the long bear run that made them to continue hodling the BTC in their wallets till bull run occur before they can sold to make profits.

Many many Congratulations to you sir. You are doing great that you are saving your money in bitcoin. It will give you good profit in the future. Because, bitcoin price is increasing day by day and you will also get good profit on this saving that you are doing at this stage. I really appreciate your idea. And i advice everyone that save a little amount from your income for future.

Welcome to the crypto world. Regardless of the amount, it is important to start. Hopefully you will be a large holder in the future in the range you started with. Which will help you to make more profit in future. Investing in cryptocurrency requires a lot of courage. Because you can't invest in Bitcoin without knowledge and courage. I first started with $124.

Regardless of the amount you say… i think $110 is a good enough amount for a start. At least, this is someone that just started earning 5 figures for a pay grade even though the user didn’t specify on what currency and having to use $110 out of it to buy Bitcoin is a good place to start.
Hope the user gets to continue and more importantly, learn how to secure what you’ve gotten, not going about to look out for means to multiply the coin by trying to stake it on some platform, may be join in a cloud mining or perhaps trade it,,, these are always a tempting option but, you just might loss your coin in the process.
As you learn, learn security too, it’s very important to not break faith in the system.

$110 is good amount for a beginner to start with, might be he has been saving some funds for a while and he has bought some Bitcoin with it, I just hope he can continue buying such a decent amount every month.
The OP is not sure if the exchange his Bitcoin is are secure that's why he's asking but since then he hasn't say a word about how he's going around with he's investment, if he has moved it to a more secured wallet like electrum.

Yes, investing $110 is a good amount that can generate enough profit once the Bitcoin price increases. However, it would be even better if he continues to invest regularly, as the more he invests, the more profit he could potentially make. Furthermore, Bitcoin is a good option for long-term investment, and he is unlikely to regret his decision.

Congratulations.  Your concern is very good.  As your amount till now is very less.  So electrum wallet is enough for you.  If you have more bitcoins then you can move to Hadware wallet.You continue to buy bitcoins like this.  Your plan is very good.  If you hold for a long time you will gain a lot.The price of Bitcoin is increasing a lot.  It can release the previous ATH.  In this you will get good quality profit.

No matter how slow your progress as long as you are working on it, you will be moving forward soon and know exactly what you gonna do next because you already managed to gain the necessary experience on how to invest in bitcoins and secure it. that's the important matter when it comes to holding bitcoins and you are doing right when you decide just to hold a small amount of it until you become a pro when keeping it securely next time you decide to buy a huge amount of bitcoins, you already know what to do and the things you won't do.

Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.

What do you mean by "there"? Do you mean that you have used a third-party service to buy Bitcoin and have your Bitcoin stored on their platform? If yes, then I would suggest you take them out and store them privately in a non-custodial wallet.

What's wrong with Electron? If your bought amount isn't that high, you can use Electron without any issues as long as you make it secure with a password and keep your seed phrase and private keys safe and secure.

It's simple, you earn money and then use that money to accumulate Bitcoin, but make sure that you are only using the money that isn't supposed to be used for something else so that you don't have to worry if the market doesn't go in your desired direction.

When I first started investing, the Bitcoin market went down a lot within a few days of investing. At that time I got frustrated and sold the invested Bitcoins. I suffered a lot of losses. I was new to investing at that time.  No. As a result, I have faced a lot of losses by investing without understanding in the first place. I have now gained a good understanding of Binion and recovered those losses very easily.

First experienced most excited with investing in bitcoin and ever with OP position how happiness after success investing my money in bitcoin, although had small amount for investing than OP but its so amazing journey have been bitcoin investor. For saving your bitcoin assets its not matter in Binance and you look purchase bitcoin there, Binance is more securing exchange market and you will get paying few fees transaction if want hold in your own wallet such as electrum or using trustwallet for holding bitcoin.

No matter with slow progress for investing in bitcoin regarding not all people have stable financial and already investing in bitcoin, I think small or large amount for investing in bitcoin exactly for the first time is not problem during has decision for the next time will purchase large amount and consistency keep accumulate investing in bitcoin every time. Keep be loyal holder with bitcoin as long term investment and will earn much benefit in the future exactly when bitcoin raising to the higher price.

Trust wallet is good to store your Bitcoin, as long you save the phase code and password, and avoid connecting wallet in website because of phishing link's, trust wallet is good and safe.

Hey! Congrats on your first bitcoin investment, That's good to hear that you bought that from your own salary, at least the money you worked hard for went somewhere and wasn't wasted on something meaningless. About the security, Why don't you try to use hardware wallet? or you should try trust wallet, since that's the most recommendable wallet and many users has been testify it's security. I will not suggest binance especially if we are in the same country because there's still no update about the issue between binance and SEC.

Let me give you an insight into what happen to a woman in my street. During the time of Naira scarcity in Nigeria due to the Central Bank Of Nigeria's cashless policy in 2023, a business woman was interested in opening an online bank account with Opay Digital services because of the companies cash back policy on transactions and free transfer policy.

But she lacked the know how on how to open and operate the application, so she contracted someone to open it for her in his phone so that she can be using his phone to monitor transactions, she did all of this because of trust.

But, unknown to her , the young man has been using her business account the man opened for her to place bets online to the sum of 30 thousand Nigerian Naira. When she discovered , the young man behaved as if he does not know what happened that funds are missing, until she called another expert to check for her.

This is a likely scenario you are suspecting that may happen. It is simple if you don't want to transfer the bitcoins to another account, change the password and write it down somewhere.

Please don't tell people how much money you make or even that you own bitcoin if you can't help it.  It's no one else's business but your own and that kind of information should be kept private. 

I want to say congrats though on the new job!  Just make sure you're well diversified ( no matter what anyone here says, remember they most likely aren't licensed financial professionals) and you understand that your bitcoin balance can highly fluctuate, up or down. 

You've got plenty of advice here already but I'm a fan of Trezor, Cold Cards, Jade and I guess BitBox wallets are pretty legit too.

LoL, you are still living in fool's paradise, because holding bitcoins in a trust wallet is not safe. Suitable wallets for holding Bitcoins Hardware wallets are most suitable. Among the software wallets, Bitcoin wallet, Electrum wallet, Mycelium wallet, etc. wallets are safe because these wallets are less likely to be hacked. But trust wallet is relatively weak security completely because it is all connected with google. So I never consider trust wallet as secure, because stronger wallets exist.

It is normal to make mistakes in the first place. Volatility is in nature on the market prices of crypto and with loss, those are temporary as long as you are not selling. Endurance of loss is crucial however, circumstances are really pushing people which yield to permanent loss. Again, such thing is normal as long as you learn from it. But I never assumed things to be easy even if you understand how things work in this industry. Prices are way unpredictable and patterns are only guides and will never guarantee certainty.
It is okay to share what you are doing with other people but be careful with the informations you will be sharing with them because impressions could last. May people are having misunderstanding of what this technology is all about. Many people think that investing in this blockchain will yield to easy profit and as we all know, it is not that easily done, if it is true then many people should be rich by now right? But given that ony a few are succeeding it should be an enough warning to those who are planning to invest, to learn its concept first and avoid being too optimistic of it.

The answer is obvious, just look up and you will see a link to a new bitcoin wallet. Especially for people like you, they publish the latest version of the wallet, at the very top of the forum.

"News: Latest Bitcoin Core release: 26.0 [Torrent]"

Right now your coins are stored in a centralized exchange, that means that you have no control over them because yes, they are in your account, but if something happens to the exchange (which I don't think it will anyway, that's Binance, the biggest in the world), you lose everything. At the same time I would suggest you not to rush to move your bitcoins, before make sure you understand how wallets work, then you move the coins.

You are a beginner, so just start accumulating bitcoin. Since you can't buy Bitcoin at once, the best strategy is DCA. It means just accumulating bitcoin every month from your savings and holding it. For holding, you should use a non-custodial wallet like Electrum instead of storing your funds on centralised exchanges. I prefer Electrum because you just started your journey. But when you can afford it, just buy a hardware wallet to store your cryptocurrency. Whatever wallet you use, you must secure your seed phrase. Otherwise, you would lose everything.

Well compared to me this is actually a good start if you ask me because I remember when I bought mine, it was during the 2022 bear market that Bitcoin was low as 19k$ and since then the little I have accumulated and earn from signature campaign here too has also made a good start up but I don't ever store my coins on CEX because there is to certainty to what will happen when one day you wake up and find out the exchange has been restricted since you don't actually have the full access to the keys to your coins in these CEX.

I was interested to see the kind of job you do too because with earning well, your job can become someone's prayer point.

first purchase in every thing is always special. Many of us may not be able to remember how we felt the first time we invested in bitcoins.
@OP, congratulations on your first purchase, you should not stop investing just right after.

The world is into on the crisis. Russia and Ukraine war are continuing last two years. On the other hand in the middle east  unrest the economics crisis are gradually condensed.

For the reason of there have no any job security. The inflation of the economy day by day business situation are also unrest.

In this situation everyone needs outsourcing. As my analytical openion BTC income and investment is the best.
But as a newbie it's so difficult to earn.

For now I think that's a good idea but once it goes to 0.01 and beyond, I think that it's time that you should consider using a non-custodial wallet with Electrum as being the most prominent of all because it's totally safe and you're going to learn responsibility there because you'll be able to learn how to maintain and keep a watch on your own bitcoins, it's a good thing that you finally came to your senses and started investing, remember this day because this is going to be one of the most memorable day for you and you will look back to this when bitcoin's price floor goes down to a 100k and you'll say to yourself that you should've bought more.

I'm wondering if the OP forgot about this whole thing.  It's been more than ten days since he started the thread and there's pages of responses, but he hasn't chimed in at all. 

Makes me curious if he already picked a wallet or something without telling us.  I really hope it wasn't that "electron" one he mentioned early on!  :D

First of all congratulations to you. I think if you have a lot of money or the money is lying idle then you can invest for a long time. Investing in any business, not just Bitcoin, requires fortitude to wait a long time. Due to lack of experience many times we invest in wrong place. However, investing with Electrum does not seem like a bad decision, but you should keep your passwords and personal information confidential.

I remembered my first investment in Bitcoin. At first, I was hesitant to buy because I didn't have enough money and thought I might use the money to purchase my first Bitcoin investment. That time, I made a gamble and invested my very first Bitcoin.

I congratulate you on your investment, you made the right decision. For the safety of your Bitcoin, use another wallet. I'm using Exodus because I am holding other altcoins. If you are holding only Bitcoin, use Electrum, it is safe.

Maybe what you mean by Electrum is not Electron.
Storing Bitcoin assets is recommended on dedicated Bitcoin wallets. There are many wallet options available that can be purchased and downloaded for free, but make sure the wallet you choose is truly trustworthy and has been tested by time.
Of the many types of wallets, choose the open source one because there are closed source wallet types.
Wallets that are available for free because they can be downloaded, which are called software wallets, are not all good according to research conducted by many users. So, electrum could be the right choice in our opinion for storing Bitcoin.

The software wallet also supports multiple coins. We here offer not to combine many coins that you want to store in one wallet. Separate wallets for storing Bitcoins from wallets for storing other coins.
It's even safer if you are willing to buy a cold wallet to store Bitcoin.
Never store assets on an exchange if you want to hear because exchanges are not wallets, but function for selling and buying.

Congratulations on your first satoshis! :) Whenever you accumulate a larger amount of satoshis, ideally 0.01 or more, it's ideal to send it to a hardware wallet - I use Trezor. And I wish you good luck in not only collecting a lot of satoshis but also a whole Bitcoin! :D

Since you already had a plan that you would one day buy Bitcoin and hold it as an investment. And finally since you have purchased Bitcoin it is good for you and you can earn good money from it in future. Continue your investment for a long time so that you can earn good profit from it. But you must use a wallet to keep these funds safe and secure fractions of bitcoins which is the most secure. If you are looking for a safe moneybag then surely hardware wallets will provide the most security so you can use hardware wallet it is good for you. But since you don't have much funds then you use software wallet Electrum is definitely a strong and safe wallet. But if you want, there are more secure wallets that you can use like Mycelium or Bitcoin Wallet which offer more secure wallets.

In my opinion, no one can guarantee the best or safe wallet. All wallets have their own advantages and disadvantages. Just ask yourself what kind of wallet you need.

So far, I still use Trustwallet, both in terms of user interface, user experience, multiplatform network completeness, coin completeness, access to Dapps, built-in staking capabilities, as well as integrated swap features with aggregators to get the best prices.

you Know what you did not gather your target Merit for this thread? because your word is contradicting .

How can you be working HARD when you have no Job?that is enough reason for us to think you are just merit farming here.

If this is true then congrats for your new job and of course for your Bitcoin investment .
Why not Add more since you are being paid 6 figures? try to consider investing more mate.

Congratulations mate, you're safe with the ethereum wallet because It doesn't align permit smart inter connection with any smart system and it's a private key storage for bitcoin and other cryptocurrencies. But op, next time seek for opinion if you don't know the ways before taking actions. You've already purchased and stored your bitcoin in a wallet before you came seeking for public consents. You could be late to such situations at times if eventually you've got yourself into one of the malicious wallets that you can't recover your funds after investing. Hence I believe the third person that linked you to the industry must have got you some clues about it.

Lolz. Congratulations op for making a tireless efforts to buy  and finally you have gotten it. You are welcome to the bitcoin investment group and journey to great destination. And as you said you have to move those coins to a non custodial wallet so that they will be saved and you will not afraid of anything. Bitcoin investment is one of the good thing in this dispensation but you have to be careful and security conscious because you are the target of all those internet scammers.

Electrum should do well for you. Once again congratulations and save investment journey.

Yes, congratulation first of all to your new Bitcoin and your first ever, Bitcoin bought, looking at the image as well. It is Binance and Binance is  centralize wallet I will advise you to go for decentralized wallet, and get your back up phrase, write it down somewhere nobody can see and make sure it is confidential to anyone else.

Let the phrase just be you alone right now no need to let your friend know you can just tell your friend use your wallet don’t let him open the wallet for you or create the Wallet for you, because he can assess your wallet that is the truth.
If he know your backup phrase, he can access your wallet, what you are doing concerning bitcoin in a wallet, please let it be secret.
That is why we have secrets phrase.

Actually everyone prefers to invest in Bitcoin. Investing in Bitcoin is an investment method that you can invest in Bitcoin with any amount of money you want if you want to invest. The first bitcoin investment is really a joy because for many people now investing in bitcoin is like a dream. I also had a lot of fun making my first bitcoin investment. Investing in Bitcoin is safer and more profitable than other coins. If the price of your invested Bitcoin falls, then there is nothing to be disappointed because the price of this Bitcoin will quickly recover and compensate you for that loss. If we buy and invest a large amount of bitcoins at once we may be able to make a short-term profit from that investment. If we adopt the DCA method in our Bitcoin investment then we have to have the mindset of holding our invested Bitcoins for a long period of time otherwise we will not get the expected results from our investment.

@OP you made a good decision to quit gambling and invest your money in bitcoins from where you were involved in gambling in the first place. If you were to keep gambling with your money instead of investing it in Bitcoins you might have lost your entire money at some point. Now that you are investing your money in Bitcoin, you will definitely benefit from it.

One doesn't need to share their finances with anyone, it's not a good thing because it's private, and we don't share private things with anyone but we keep them as secrets with us forever. One might share their secrets with their life partner only if they trust them.
Most people make this mistake, they get too excited and in that excitement, they share their finances with others, especially if they have made an investment and got some profit, they go to their friends and everyone and share their story with everyone out of joy without realizing that they are making a mistake and one shouldn't share these things with everyone because people can have evil eyes for such things.

I still remember the first time I bought Bitcoin. Back when I am in college and learning how Bitcoin works. I also studying how the market works back then. I bought a little bitcoin like a hundred dollars and it grows up to $300. I am very happy when I earned that money and it helps me a lot, my allowance and project are paid by bitcoin. Now I am thinking to invest again and buy some bitcoin or any potential coin in the market.

Your experience is almost the same as mine. I used to be like that when I first bought Bitcoin and I held it even though at that time I didn't really understand how the Bitcoin market was performing, but after a few years when I looked at my balance it turned out that it had increased almost 3 times. I am very happy when my balance increases. Since then I have continued to invest in Bitcoin even though it has not always been profitable, but at least as time goes by I understand more and more when it is time to buy and sell it to make a profit. Therefore, continue to invest in potential bitcoin and altcoins especially as the current market performance is very good. never miss an opportunity to make a profit.

It has been a couple of months now since OP created this thread and started crypto investing in crypto, I wonder how it is right now did OP continue to invest ( add up more), hold the first investment or did OP already sold it when the price hits a new ATH.
But this really made us remember the good old days when we were just starting on our crypto journey, I was really proud and happy back then everytime that I would earn even a small amount.

I can always relate to such things. I remember the first time when I converted my earned Bitcoins to fiat and bought something for myself, everyone in the family were shocked and surprised because they used to think I was playing games on my computer all the time while I was working and accumulating Bitcoin from here and there, and when I finally sold them and bought myself a treat, it was surprising for them all.

I was extremely proud as well because it was the first time when I had bought something for myself with my own money and didn't take money from my parents or elders to buy what I wanted. Whenever I looked at it, it made me smile because I used to realize that it is mine and I bought it with money that I earned myself. It is a great feeling.

you have invested good enough mate , that is best for you to keep holding the whole  amount and better to add more time by time mate .
it is good that you know about this investment you decided in perfect timing.


cold wallet mate , best to keep that safer than just online wallet.

I wonder how you managed to keep holding your Bitcoins for years in those times because most people who either bought or earned Bitcoin used to sell them quickly after that as soon as they saw a good price. After all, no one knew that Bitcoin was going to perform exceptionally well in the future and it will reach an all-time high of $69k in 2021.

Even though I had some Bitcoin back in the day I never held them, I sold them all way before the price reached $69k or even $50k. When I first came to know about Bitcoin, its price was less than $1,000 but unfortunately, I was a student back then and I didn't have funds to be able to buy Bitcoin and I also didn't know much about it, after some research and learning I came to know what it is.

I was also curious if OP continue to add more to his investment and whether he had found the right wallet to hold all his bitcoins. If OP continue to hold his BTC investment at the current btc price of $71k, the $110 investment last January, it's value by now would be more than $170. A good profit for holding for a few months. What more if he continue to invest and hold it.

A person with no knowledge about bitcoin can never keep it for many years, which really sounds absurd unless he invested a small amount in bitcoin and accidentally forgot his investment. Even experienced investors who have witnessed bitcoin's fluctuations will not be able to avoid panic every time bitcoin has strong fluctuations, let alone those who have no knowledge about bitcoin.
Holding bitcoin may sound easy, but to be honest, it is not easy to hold for many years until profits are realized, let alone be able to hold until profits double three times.

First of all congratulation to your first , Bitcoin, and it is Safe to save your bitcoin and that particular wallet because it is looking like the Binance bitcoin is really profitable and it is a plus to you. That is why I keep on telling people if you have any opportunity of investing on bitcoin just proceed you can just leave the money on Bitcoin. No need to withdraw unless your income won’t be enough for you then you can now  use of the money you invested in  bitcoin is just a future cryptocurrency that we grow massively what we didn’t think of

Congratulations to the OP, but I must say that the binance is an exchange and it's not a nice place to keep Bitcoin, because its non custodian and it's an exchange. OP already know of an Electrum Bitcoin wallet so it's more safer for the OP to store his Bitcoin in a electrum wallet for safety purpose.

Don't despair, there are many ways to actually get BTC, it doesn't go directly to BTC but to existing altcoins, for example you take part in the airdrop and if you make money you can set aside to buy BTC,
Don't worry, friend, anything can be done if you keep trying and don't be lazy in looking for information about the crypto world

Currently, people are flocking to buy Bitcoin when the price is high. In the past, when the value was still low, no one wanted to invest in Bitcoin except for certain people who believed in cryptocurrencies and wallets that we could use to store Bitcoin. There are so many, but we have to choose a high security wallet for our assets, Binance is actually a market that has been around for a long time and is trusted for exchanging Bitcoin and other altcoins, but for a Bitcoin wallet we have to use Electrum Bitcoin as you said, and later if you want to sell it again you can using binance markets.

I don’t know how you would be working so hard to buy Bitcoin and yet you don’t have a job! Perhaps you’re not using the right word here or perhaps doing remote jobs, earning from your skill(s), that pays wages for work done doesn’t count as a job for you.
However, you have archived something here and that is, you have a 5 figure monthly paid job and have been able to start building your portfolio. It doesn’t matter what party you bought Bitcoin from, what matters is having to make your investment, be consistent about it and ensure you’re getting them coins off the exchange to a none custodian wallet.
From the screenshot shared in OP, it seems you’re doing your accumulations on Binance and that ain’t advisable. Binance is custodian, you could try using Electrum wallet, Mycelium and a couple of others out there. Perhaps when you’re grounded enough, you could go for some hardware wallets. These ensure your in full control of your accumulations.

Now is the best time to buy Bitcoin as it is falling


   

Actually the best time to buy bitcoin was a few weeks ago when it dropped lower than $60,000. But it's still a good time to buy bitcoin now before it goes and reach a new ath. Just try to accumulate as much before it creates a new ath.

If you plan to invest in Bitcoin for the long term, I think any time is the right time to buy Bitcoin because as has happened in the past, the price of Bitcoin is always able to rise higher in the future, so it is also possible for it to happen again.
The advice to continue buying Bitcoin slowly and holding it for a long time is very good advice, but it is only for long-term investing.
And when it comes to trading, I think there are many things you have to study and wait for the right price, now Bitcoin's movements are difficult to predict, especially after the Halving some time ago, there is a possibility that the price will soar high.

this is a wrong judgment in the world of bitcoin investment, investment people don't look back, now we buy bitcoin and coincidentally tomorrow the price goes down and then we say that actually it's not the right time to buy bitcoin and then you regret it then it will only cause regret for those who invest, so look at If you invest in the future, you must be sure that in the future the price of bitcoin will rise and you will make a profit from the results of your bitcoin investment.

Many people always say that bitcoin below $60k, 50k$, 40k$ is a good time to buy, but honestly I want to know how many people will buy if bitcoin falls, or will they say it will fall even more? Until it suddenly spikes and they have to buy at a higher price?

In my opinion, the best time to buy is when we have money and are willing to take risks because bitcoin is unpredictable, no one can know if it will increase or decrease after we buy. I agree with you, buying anytime and holding long term is what we should do and is also the best strategy when investing in bitcoin.

The funny thing is when bitcoin price dropped below 60k$, I'm sure you or many others wouldn't buy bitcoin, but when the correction ended and bitcoin price recovered, people realized that bitcoin below 60k$ is a good time to buy. I believe that those who say the best time to buy bitcoin is over, they are the ones who will never buy bitcoin even if bitcoin falls back many times later.

As barisbilgili said above, bitcoin is a long-term and unpredictable investment so anytime is a good time to buy bitcoin. Don't hesitate and bargain with the market and when everything passes, we will say that the best time to buy bitcoin has passed. And if you are a short-term trader, a good time to buy will depend on your trading knowledge.

Does anyone have suggestions for reliable wallets besides Electrum?

If you want you can still make good money by investing in bitcoin, you mentioned 60K, and currently bitcoin price is above 68K, 8K is not much difference. In fact, those who are real investors pay more attention to investment rather than value. Regardless of the value of Bitcoin you should always aim for a long term investment. So I would say those who haven't invested yet invest soon. Because now the value of Bitcoin has not gone very far, it will go much further. So start investing now to take your invested money far ahead with Bitcoin. If you hold for long it will definitely give you returns.

New ATH of Bitcoin is constantly being created. Now the price of Bitcoin is between 68 thousand and 70 thousand, in this case Bitcoin is not coming down to 60000 dollars, so a few days ago, 60 thousand dollars was the right time to invest in Bitcoin, but currently the market condition is not understood. So those who want to invest should wait for a few days, surely the market condition will be understood within a few days. But before investing in Bitcoin, you must understand and invest according to the plan. Any investment made in haste does not pay off well, rather it is more likely to result in loss than profit.

It’s always easier to follow a trend, but it’s a big problem to try to guess when the trend will change. We can start buying when we see that the trend has changed, but if we try to buy on a fall without signs of a reversal, then we can end up in a protracted correction, which will ultimately become a big mistake. But now it doesn’t look like we’re in for a prolonged correction, it’s more like a sideways movement and globally I’m waiting for further growth. The first bitcoins are always the most difficult, and the main difficulty is not to lose them.

I don’t think there is a specific time to invest in bitcoin. Even if bitcoin creates a new all time high, I can decide to invest in it as long as I will be investing for a long time, I don’t have any problem with that. The only people who are disturbed about when to invest in bitcoin are short term investors or traders. If you are investing for a long time, just do your analysis and choose when to invest. I know it’s better to buy when the price is still cheap, but some people might not be financially well when bitcoin was still cheap, and they can only invest now.
 
We all should know that everything doesn’t just end after an all time high or a bull run. Lots of people who sold their bitcoin a few years ago after hitting a new all time high will be regretting it now because bitcoin keeps on growing, and they would have made massive profits if they hadn’t sold then. So after creating a new all time high, later in the future we should be expecting another all time high.

There is no need to use a hardware wallet to hold such small amounts  Because using hardware wallets is costly. You have to buy it to use hardware wallet. So it is better to use a software wallet in primary condition which is completely free to use.  Electrum wallet is a good secure wallet for holding bitcoins. So op can use it. And you can find numerous tutorials on the internet on how to use it and create a wallet by following them.

Know your worth because bitcoin is accessible for everyone in the space but due the ignorance of the vast number of investors, they do missed out. My first bitcoin, stacking my portfolio without any solid knowledge of the project, although I managed to saved some because I had other activities that kept me busy. Today, I'm happy because there's enough evidence and enormous profits to boost about. Everyone have a story to tell because it involves bitcoin. We should be extremely careful when dealing with the system, knows what to take in and probably the projects to dropped down.

It's actually a good improvement so far. I know alot of People that won't even wanna save up no matter how much they earn monthly. I'd say, you've made a good start; what matters the most is how consistent you can be to get a whole bitcoin. Secondly, I'm not tryna discourage you or make you develop some cold feet but, if it were me, I'd wait till the price goes down.

It's not safe to store your coins in any centralized exchange. From what you said, I believe you wanna start your HODLing journey; the best way to safe keep your Bitcoin is using a cold storage - maybe a hardware wallet or a paper wallet.
Edit:
how much is $11 in your country's currency? Sounds like you stay in a third-world country where the cost of living is wrecking y'all?

A good tip which is going to work for many because recently I was having some issues with Electrum and trying to change this with hardware wallet, but now all is ok as this problem was from my side which now I have fixed, so things are going smoothly with this Electrum because someone already told me its one of the best wallet with easy to work and hold your all savings for the long time.
As now, I have some strategy I will hold my bitcoins for long time with my kids will be able to use this all and have easy to do this all because we are having good videos as well which are giving all details about use of this wallet without any problem.

I don't think it's a good idea to store bitcoins there and I've never heard of electron for a bitcoin storage wallet either.
The only thing I can think of is that maybe you want to say Electrum but you spelled it wrong.

Not so sure you are new to bitcointalk although if you look at your account history it will lead you there.
If you want to accumulate then increase your purchases on a scale and see the right moment to accumulate according to the capital you have.
To get more bitcoins you have to try buying them and the next question is whether you have a stable budget to do so.

Well done, you did excellent way for investing money in bitcoin by purchasing around $100 every month from your salary, I think its worth for the future as your investment become saving assets than hold it in the bank without increasing yet better put or investing in bitcoin with potential increasing several percent at the future depend on bitcoin price raising up. Since your first time purchasing of bitcoin seems has lower price and around two months later bitcoin success break out new all time high price, seems happy if you still hold and sell it when new higher price coming because potential profitable earned more than 30% since at the early of this year storing bitcoin.

Hope you can update the investing of bitcoin progress in your wallet to make other more motivate for investing their money in bitcoin than hold it only in the Bank without any benefit yet.

Relying on indicators and charts to make the next prediction about bitcoin does not always give us accurate results because there are many unexpected factors such as Fud, fomo, manipulation...That is why many people always think that the DCA strategy is the best because the future is unpredictable. Like the recent correction where bitcoin fell to $59k, many traders speculate that bitcoin will soon drop to $52k and then $42k. But the end result is that bitcoin has recovered and is trading near 70k. So, I don't think we can easily recognize when bitcoin reverses and the uptrend begins.

But you are right, we are approaching bull season so a prolonged correction is unlikely, recent corrections have been temporary and whales are trying to take bitcoin from weak hands. The only thing we should do now is buy more if we have money left and not sell bitcoin for any reason because the bull season is very close.

Those who follow cryptocurrency and the market as a whole have already realized that historical indicators always confirm the corresponding forecasts, And therefore, many have become much more tolerant in their expectations of a bullish season and more willing to buy Bitcoin.  Even if you have to wait 4 years. In any case, once a year you can definitely make a profit

To be honest I’d be alright with waiting for 4 years before I take profit from bitcoin given that I have a stable job anyway. Bitcoin investment shouldn’t be treated as your daily income kind of job unless of course you are trading then you can expect at least a regular flow of money. I can wait for 4 years and at least I know that I can live comfortably after I take profit from my investments.

You are absolutely right. But in this case, everyone chooses their own behavior in the crypto market. For example, I prefer to have a small business for stability, as is generally accepted in society, but crypto is independence, while giving a good profit and is a guarantee of my quiet old age in prosperity.

First of all congrats on holding bitcoin. It is a very good decision that you are interested in investing in bitcoins besides your job, I applaud you for this decision. But in case of bitcoin investment you must have long term plan if you can hire with long term plan you will definitely get enough success for the purpose you have invested. Many times it is seen that while investing one time lost the door many big investors lose patience so patience is very important thing if we can invest patiently for long term surely we will get enough profit from AB recruitment which is more for us to invest  Will interest. If we can invest in Bitcoin at the right time and do it for the long term, surely we can change our fortunes with this Bitcoin investment.

From the screenshot you have provided it looks like the exchange you are holding your bitcoins on is Binance.
While Binance is a reputed exchange it is still not the best option to hold your coins in there.
You can store your coins in a non-custodial wallet like Mycelium, Electrum etc...
Just keep reading various threads on this forum and start you can gain more knowledge on bitcoin.
You can read the articles from below website to know more.

https://www.lopp.net/bitcoin-information.html

Keep on doing that mate and you will be earning good profits out of your investment. It doesn't really matter if you are newbie or not as long as you are willing to learn that is what is important in here. Regarding wallets, I personally use Mycelium and BlueWallet especially when doing transactions in and out of the wallet but BlueWallet is my go to wallet right now and Mycelium is my back-up.

It is very commendable that you have invested some money from your salary in Bitcoin. But since you are investing your hard-earned money in Bitcoin, you must have a good understanding of its risks. It is not right to think that investing in Bitcoin will make you a quick profit.  If you have to hold your bitcoin for a long time then you can make a good amount of profit from it. So you can invest a part of your monthly salary in Bitcoin. Then it will go through the DCA technique. And if you hold these for a long time you will get good amount of profit. If your investment amount is huge then you can shift to hardware wallet. Otherwise you can continue using electrum wallet

You shouldn’t store your bitcoin on an exchange. Not just bitcoin. Don’t store any cryptocurrency there: the essence of exchanges is to exchange cryptocurrencies and not to store them. These centralized exchanges can have issues or down time or some sort of problem that hinders you from your money. It isn’t something that happens often but it is very possible. Doesn’t sound extremely safe.

I feel like people have already told you that hodling is the key to bitcoin investing and that it should be always for the long-term. Not bad for your first bitcoin purchase but I think that you should heed what others are saying about this particular case, don't put too much money in your investments because you might not like it when the price starts falling hard, some newbies will panic that their bitcoin investment is losing value and you might not be ready for it so make sure that you're equipped to handle that at the least.

There is nothing wrong with keeping our coin on exchanges especially if it is a little percent of our portfolio, maybe for the sake of trading it with other coin pairs it swapping it to altcoins to make more money. We need to know what we are doing so that we don't just keep thinking that putting a little percentage of our Bitcoin holdings on exchanges is a bad idea. Our we need to be prepared for the consequences that could come along which is one reason one need to be aware and understand what exchange is all about. It would be wise for us to keep our Bitcoin in a place where it will be safe because even putting it in a private wallet and the key get lose could lead to a big problem.

I think so because he really work hard to get the money from his salary to invest in BTC to achieve a big money from his hodling, which is the best way to grow financially in the industry, i believe he will like to buy more and hodl for long years before he will sell to experience second profit from BTC.

I believe, he is aware not to invest what you cannot afford to lose in BTC business because the business is not what you can predict accurately all the time, and if you put big money at once and something happen to the market to cause you loss, you will not hodl anybody responsible for your loss.

Having other sources of income will help you to endure through out the bear run, because the price of BTC will be dumping to make people BTC in their wallets to lose value at the moment, but if you have other sources of income, it will help you not to sell in the bear run than to wait for the bull run before you can sell.

I'm sure there are still some people who leave Bitcoin on exchanges. but maybe their needs are different. if the goal is long term, of course, it would not be a good idea to keep it on the exchange. and perhaps the problem of transaction costs which are sometimes very inflated could be the reason if you are a trader.

However, exchanges are not the best place to store Bitcoins. Even though saving in your wallet still has risks, we still have to choose the smallest risk. we never know what disaster will come to us.

having other income would be good and it could protect our Bitcoin investment from being disturbed by the urgent needs that Bitcoin holders often experience.
but I think there is no need to be fanatical when our thinking is profit. investors understand Bitcoin market patterns. when we can profit when it pumps, why should we survive when it dumps? unless there is a planned time frame for it to be achieved. and the issue of pump or dump prices will not be considered at any given time.

There is something wrong with keeping your funds on an exchange. If maybe you want to trade it the next day, it may be an excuse, but anything can always happen at anytime. And if you put your funds in a wallet and lose the private key then that's totally on you. And there's a difference between that and an exchange being the issue. I am conscious of not keeping my money on exchanges. People who may do that are daily traders who scalp.

I completely agree with you. It is admirable that he is working hard to invest in Bitcoin understanding potential for long term financial growth. He is taking smart approach by hodling for years allowing his investment to compound. He is also aware of risks and is not investing more than he can afford to lose crucial mindset in unpredictable crypto market. By diversifying his income streams he will be able to weather any market downturns and avoid selling during bear runs waiting for the bull runs to maximize his profits. His disciplined approach will likely yield significant returns in the future.

It is not recommended to store assets on the Exchange if the investment goal is for the long term, especially if the asset value is large, however, if the goal is to make transactions easier and save on fees, you can save small amounts as needed. Exchange wallets are not very suitable for storing assets because there is always an unexpected risk, as long as the asset cannot be controlled by a private key, it means it is not your asset. Assets stored in wallets that can be controlled by private keys are safer than Exchange wallets. Every investor must be able to store private keys safely so that their assets remain safe, if the private key is lost, it will be the responsibility of each individual.

Indeed, there are many cases where exchanges are scams for some reason, and in the end our money is also lost. therefore the exchange is only for selling or buying assets, and the rest is stored in a personal wallet, and our security is completely responsible. That way I think it reduces the risk, because we won't know what will happen in the future, if we lose because of carelessness then it would be a shame. It's very good to save in the form of Bitcoin rather than in the bank, no matter how much for the future

Welcome to the Club, so you are going to buy every month 0.0025 btc right? if so its mean you will have  0.03 within 12 months and 0.09 in 3 years and in 11 years you will have your first bitcoin.  :)

Doesn’t that depend on the price of Bitcoin in 11 years?

No, i Said 0.0025

its yours no one can hinder you from having it.

I agree that bitcoin is definitely and should be used for the long-term.

I have seen some people discourage others from trading bitcoin. It is volatile yes but if you want to make profit, go and find much more volatile coins not bitcoin. Bitcoin should be bought and held for a long period of time. There’s still more growth to bitcoin so even if it is expensive now, do not double think about buying some.

I would advise all newbies who read this to use one of these wallets: Electrum, Exodus, Trust.
I have been using all of these wallets for a long time and they are all good and time-tested.
Electrum is the only wallet that has an open source code, and you can be sure of its honesty.
Trust is an old development of Binance and it is very beautiful and convenient.
Exodus is just a good wallet. Probably the best of them I will appoint Electrum, but its interface is not very convenient.

Congratulations on your new job and your decision to invest in Bitcoin! It's great to see you taking steps towards accumulating more of it. Regarding your question about storage, it's crucial to prioritize the security of your Bitcoin. While using a third party might be convenient, it may not always be the safest option.

Apart from Electrum, there are several other reliable wallets you can consider:

Hardware Wallets: These are physical devices that store your private keys offline, making them highly secure. Examples include Ledger Nano S, Ledger Nano X, and Trezor.

Mobile Wallets: Apps like Trust Wallet, Exodus, or Mycelium are user-friendly and offer a good balance of security and convenience.

Desktop Wallets: Software you can install on your computer, such as Atomic Wallet or Exodus, which provide enhanced security features.

Web Wallets: If you prefer online wallets, ensure you choose a reputable platform that offers robust security features.

For those exploring crypto exchange options, platforms like Atpayz can be helpful for exchanging cryptocurrencies (https://atpayz.com/exchange-tether-trc20-to-bitcoin/) securely. Always remember to do thorough research and enable two-factor authentication for added security. Happy investing!