Bitcoin Forum

1. Would you store it in a savings wallet to earn interest.
2. Would you leave it and watch it hopefully rise.
3. Would you sell it.
4. Would you trade it for another Cryptocurrency.
5. Would you buy more Bitcoin.
6. Would you do something else with it.

Seriously 10£ in Bitcoin? That is not even for the transaction to transfer the fund into other wallet or investment plan that you mention on your thread. If ever the mempool is not full, Maybe the leftover Bitcoin is not worthy for investment or for converting in fiat.

For me I will just transfer it on gambling casino and bet it on dice in one roll to multiply it immediately.

The premise of this question is that you're new to bitcoin... This changes quite a bit... It also depends on the fact if these people were actually interested in bitcoin and searching information about it before you gave them 10 pounds worth of BTC or if you were "cold-calling" them (more or less) by advertising on non-crypto related webpages or spamming their inbox, or handing out physical flyers on the road.

Truth be told, if somebody i didn't know would walk up to me on the street and give me a handfull of magic beans right now, and a couple meters down the road there was a guy shouting: "i'll buy your magic beans for 10€", i'd sell them without giving it a single tought...
If i was actively investigating magic beans, and i was already interested in purchasing some to HODL, and somebody would walk up to me and give me some for free, i'd put them in my pocket in case and HODL even if there was a guy shouting he'd buy them from me for FIAT.

The thing is, by asking this question on this forum, you might get an extremely biased result... Most people in here are not new to bitcoin... Most of them are active in the community for years... It's very hard for us to imagine being new to bitcoin, and being confronted with it for the very first time.

With 10 quid you could learn how to do a transaction. Create a couple of wallets and practise transfering in between them. It's still very useful knowledge for a beginner.

Say what? The feed on sending BTC is $15 right now, so your 10 quid isn't even enough to cover fee's to spend it, say you had $20 USD, then could send a friend $5

If you sold you would lose on the transfer, and the exchange 20% grab, you would still get zero

Say I buy $100 USD of bitcoin, I get $80 because of exchange losses and fee's, then I transfer to my address and I lose $20, then I go to sell it and I take home $50, this is bitcoin.

10-GBP is like 0.000001 BTC these days, smaller than the transaction fee, you have entered the world of nothingness

Next time say 100-EURO, then you can watch it become 50-EURO in just a few transactions.

To be honest if it was back in my newbie days I would just take it and convert it into Fiat and enjoy,
But now that I experience and learn more about crypto I would surely keep it and buy more to earn more.
I used to earn crypto back then and whenever I could I would instantly convert it into Fiat and show my friends and family member that earning in crypto is real.

that's the current economical smart fee with a target of 6 blocks in BTC/kB... So, with a 3 sat/vbyte fee you should have a decent chance of getting in on of the ~6 next blocks...
A one input, one output tx from a segwit wallet has a size of ~140 vbytes, so a fee of 420-500 sat's should be sufficient if you spend your unspent output all at once RIGHT NOW (as we speak)... That's 18 cents, not $15...

The fee isn't a fixed thing... It's an incentive for the miner to put your transaction into the block he's trying to solve. It fluctuates (heavily). It's not because you had to spend a hundredfold of the current fee last week, that this remains true forever :). Bottom line: if you get 10 pounds worth of BTC, and you're fine with waiting a couple of weeks, you'll probably have the chance to spend it without paying half (or more) of the value in fees...

We've been clearing 1 sat/vbyte transactions for several days now. If you are paying $15 for a transaction then you are being ripped off. A standard transaction of ~200 vbytes will cost in the region of 5-10 cents.

What exchange are you using that charges 20%? Most charge around 0.5%. Again, you are being ripped off.

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I like Toshko's answer above. £10 is currently worth around 0.0004 BTC, or 40,000 sats. This is enough to make dozens of transactions. You can create multiple wallets, practice writing down seed phrases and restoring from them, practice making transactions between your wallets, notice the difference in size between legacy transactions and segwit transactions. Maybe even use half of it to buy yourself a coffee or a gift card. Enough to learn some basics and get your interest growing. Then you can decide whether or not your want to buy more.

How could you Buy more bitcoin if you are only awarded with just bitcoin? kinda  irrelevant .


But aside from this one, i will do everything that mentioned.

I will buy other coins, some will be converted into Fiat, some will be invested into another businesses and many more .

2. Would you leave it and watch it hopefully rise.

I will do that, Because I know bitcoin can grow even better in the future, Although we often see an unstable market, but according to the data in the long run bitcoin has a good development and always rises.

Such a great expert, and does not even know how to calculate the price of the transaction at a given time, surely you are dangerously affected by the Chinese air you are exposed to every day while performing complex operations of loading and unloading goods at the freight terminal.

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Another one that hasn't learned how to set the fee correctly, which means that it must have overpaid its transactions several times - but that may not matter because if it's already throwing money in the wind, then it's better for crypto miners to take it than some gambling site.

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If I personally didn't know what to do with such an amount, I would give it to charity - it would certainly help someone, because some people believe it or don't work for a whole month to earn that amount.

If I was a total newbie,I would most likely sell it for fiat money.
After almost 5 years in the Bitcoin community,I don't consider myself a newbie anymore,so I would just HODL any amount of BTC that I earn.It doesn't matter how small it is.
OP,you are asking this question as if you got 10 pounds worth of BTC for free.Did you really get that amount and who gave it to you?

This reminds me of the time when Bitcoin Cash CEO Roger Ver personally gifted me £10 worth of BCH after meeting him in the conference almost 3 years ago. You know what he said to me? #HODL

However, I sold it after a year when my £10 doubled to £20 and learning how to transfer it to another BCH wallet.

If I were a newbie who was given £10 worth of Bitcoin, I choose to learn how to send it to another wallet. I received my first $20 Bitcoin when I was doing an e-sports blog post for a client, and I learned how to transfer it to another BTC wallet then storing it until I have accumulated enough Bitcoin to convert it to fiat.

I'll take it as long as there is no hidden intention behind the gift of £10 worths of bitcoin, I mean as a newbie, you really don't know how to use it and it's uses so the most rational thing to do is hold on to it until you figured out what to do.with it.

If I am a newbie, I will use that 10£ in learning how to transfer funds to other wallet or use it to start learning how to trade. 10£ is really small amount but for me I can start trading with such amount through altcoins because if I trade bitcoin that's not enough and can only gain a very small profit if ever you'll not lose. If you just buy bitcoin in that amount and just hold, that's not profitable. Earning huge profit is also depends on the capital amount you will use.

If the price of the bitcoin is like on the last time which is over or around $60,000 definitely I will sell it immediately because I am pretty sure that I will earn x3 of the price that it was given to me because at the first place, this bitcoin is just a gift to me then what you will do on a gift? Of course you will take profit on it especially if the gift was bitcoin and not a material thing. Another thing that I will do is to just use it for trading especially that now is a good time to trade where in the market was full of nightmares and because of the market crash that happen on the past days.

If someone give me £10 Bitcoin for free maybe hodling is the best option on this situation because bitcoin down now in the market so it has big potential to grow up again, or i will make it half for trading so that at the same time i can make profits even just short term.. Actually those you have mentioned above is a good idea as well but for me this two option is enough in personal opinion..

Does it come with unicorns?

Honestly, I would HODL it since the fees themselves are close to $10 these days. I would transfer it to my wallet and store it there along with other cryptocurrencies. I would sell my entire BTC amount at once if I like the prices and if it reaches my optimal target.

I have been utilising this particular strategy ever since I began dealing with cryptocurrencies a long time ago.

They did a social experiment (https://news.mit.edu/2017/bitcoin-study-period-exclusivity-encourages-early-adopters-0713#:~:text=In%202014%2C%20the%20MIT%20Bitcoin,to%20%24100%20worth%20of%20bitcoins.&text=Students%20who%20were%20identified%20as,who%20received%20their%20payment%20earlier.) in MIT in 2014 giving all these highly intelligent kids $100 in Bitcoin.

You'd be surprised at how psychology affects what you do with that Bitcoin too -- impossible to do this experiment now in most countries, but I suppose still a lot of space in emerging economies.

As said by @mocacinno, the key word here is “new”. If I was new to Bitcoin, I wouldn't consider those £10 same like I would right now. If you're new, you shouldn't spend them, but rather experiment with them. If you wanted to try trading, then that's your chance to see their charge. Deposit it on exchanges, conclude when you'll have the least fees.

If you want to learn more about Bitcoin, test the wallets, even though there's the testnet for these situations. I would discourage you to keep them. Investing £10 on Bitcoin doesn't make you long-term rich anymore.

For a sane person, he would fake multiple Bitcoin accounts to get more and then collect them and exchange them for cash. Others will trade practice. For me, I probably won't care much about it because its value is too low or gambling at the sites.

i thought about this before (giving away small amounts to friends to let them learn about bitcoin) but in the end i decided that letting them learn about how to use bitcoin through testnet is a lot better than through mainnet.
using testnet they won't have to worry about money so they won't get greedy to hold it and never use those coins to learn anything. also if they make a mistake and lose it they are still losing a worthless coin (tBTC has no value). on top of all that you can give them any amount not just a small one and they won't have to deal with possible high fees if the time they were using bitcoin coincided with a network congestion.

This thread caught my attention unintentionally.. I still remember the time when I first registered as a member to this forum (that was back in 2012). Back then, there were a lot of give-away threads, where experienced users would simply donate BTC0.01 or BTC0.005 to the new members. Back then BTC0.01 was worth around $0.05. But the same coins will be worth $360 now. So you can compare what would have happened, if you used those coins in each of the six options listed by the OP.

Some of the users might get irritated at me for posting these old stories again and again.. but I can't help. Bitcoin completely changed my life. I am still nostalgic about the time when I first joined this forum and made my first posts.

I will surely search for it maybe it will make me rich or whatever if I'm in his shoe.

Sometimes there are a lot of things in the world who are really a blessing in disguise so it is really a must to look for knowledge about something new to you.

A £10 Bitcoin is a huge money and I don't think the someone will refuse to have it instantly for free.

This one is the most possible thing to do with £10 Bitcoin. It is not a proper number of BTC to hold in a wallet and you hope to earn profits then. It is a too small number, just assume that it is just the beginning of a serious BTC investment. Of course, need to buy more to expect profits from holding BTC on a wallet. At least, we should hold around $100 in Bitcoin to expect profits.

So $10M worth of Bitcoin you do have? Okay that's a dream come true if that's the case  :D


1. Store 50% of it so that's 5M worth of Bitcoin which is intended for HODL
2. 50% would do and the rest for other alts and could be traded of.
3. 10% would be sold for physical business
4.Of course, seeking for another altcoin involvement and trade with it.
5. I do have the money, all you need is to compound profits
6. Be aware and be wise on spending and make it grow rather than putting it to waste.

For me if you are going to ask me, I have a simple answer to that. And that is to buy another crypto using the money. It was given to me free anyway, then I can gamble it for some startup coin. Of course the question is, is it easy to buy that coin I fancy or not. If its ethereum based then forget about it. I need to buy ETH from a shop then possibly transfer the ETH to the wallet where you can invest it to the shit token you wanted but that would cost a big fee. So I think I will invest it on something I can buy on Binance.

£10 is not much worthy at all cause now a days BTC transaction fees is very high. So there is nothing to plan with just £10, maybe I can use it as a micro payment on a custodial platform or sports betting on a gambling website. Often I order products from online, can be used as a micro payment on any such custodial eCommerce platform, cause in custodial platform they don't cost any extra fees for transaction.

I'll just keep it for what it is and just wait and see whether it'll appreciate in value over time. £10 is an extremely low amount in crypto but given the increases that a cycle has, I will not be surprised if it doubles itself just within a decade. After all, I do have my own stash that I'm using for buying and selling, so setting aside the free £10 wouldn't hurt really.

20 quid within 10 years? Hell man, I'd rather go all in some roulette and get my doubled returns or none at all. ;D

It would be done as an experiment, though. In today's rates, the transfer fees would be insanely high that it wouldn't make sense to use the said amount to gamble, or even if the transfer rates were to be set at 0, it would still take days for the amount to be transferred before I can play, and I have no time for that. Compared to my initial decision, I wouldn't have to do anything at all and that 10 quid would be useful to me.

Well that's a bit high if converted to my local currency so I'll just keep on hodling.
Just like what I replied to the previous thread, I could have been probably locked out of it.
If I was still enthusiastic in day trading like back then, I would day trade but my light bulb was done for.

A little bit clarification as posters on this thread does have different responses because some do believe that it is 10M in worth or just simply  £10.
I doesnt many any sense if we do talk about  £10 because this is just as small amount and nothing you can do much about it.
So i presume this do talk about millions or OP had just edited it out since some people had mentioned about million.

Force to hold, £10 worth of btc is relatively small, the idea of selling will be cut short when you see the fees to transact, and being a newbie makes it even more difficult because you will confuse, so as a newbie I would look for a way to buy a little more to what I receive as gift, assuming I have a little crypto knowledge.

It is free so I will hold it and see how it goes from there. Learn more about BTC and hoping to invest more on it. It is a small amount of money and it will only be eaten by the fees if you intend to cash it out. It is a good initial investment since it is free.

I had my first BTC from faucets which would have cost a lot now if I was able to keep them when I first started.

I will sell it at a high price and buy it back at a low price. I do not want to save it in the wallet instead of trying to increase the amount of bitcoin. I am sure that at this moment, we can use it to earn more bitcoin from trading. But do not try in a rush as the bitcoin price is not predicted so we need to be careful to sell and buy back. If you can rinse and repeat the process, you will see your bitcoin amount will increase and you do not just have £10.

I think I would do, what most newbies will do... which is nothing.

Let me explain... Most people fear the unknown, so when faced with something unknown.. they will do nothing, until they researched the new thing that was presented to them. When they fully comprehend what the "new" thing is, it will either tickle their curiosity and they will investigate further OR they will not be interested and simply find a way to get their hands on the "cash".

I have seen this first hand, when I gave people a "Paper wallet" with some bitcoins for Xmas... I would say more than 80% of those coins are still on the paper wallet and only 20% of those coins have shifted to a new Bitcoin address. (possibly transferred to an exchange to be converted to fiat currencies)  ::)

Don't need an experiment, just DCA or increase your stack if possible. Like you said, the fees alone are not worth keeping such miniscule amount so turn that 10 into 4-figures and let price appreciation take its course :)

If I were to have the mind I had 8 years ago, I would've most likely spent it. Worst case, I would've lost it somehow.

Considering my today's mind, I'd hodl the hell out of it and continue to accumulate more! Those £10 will be valuable over the long term. It's all about a matter of time before today's £10 worth of BTC will become a Romanian minimum monthly wage, lol.

I think that most of us would probably have done the same thing. Bitcoin wasn't worth a lot back then and FUDs are really strong so a lot of people will have doubts about it. Regarding if we were to do what we have learned now and apply in the past, pretty sad that we can only imagine our hindsight.

Since the question is specifically directed to people who are new to bitcoin, I think what any newbie would do is to leave it in the wallet and hopefully wait to see it rise.
If you'd ask someone who isn't new to bitcoin and cryptocurrencies, I believe the best option would be to trade it for other cryptocurrencies.
As much as bitcoin remains the best cryptocurrency in the world, there's no way to earn 100% profits by just hodling even for a few years. You can however achieve this when you buy coins that have the potential to multiply in values in just months.

I don't really get the £10 Bitcoin part. Is that a 10 USD worth of BTC? If that's it then I can do anything much for such 10 USD worth of BTC especially nowadays. So I'll probably just keep it and forget about it but I'll consider all the options you've mentioned when the time comes when I needed it

Well, i guess if i was given bitcoin without even the slightest knowledge of what it is, i would first conduct some research, and extract some sense out of it. Though truth be told when youre new to cryptocurrency it really is complicated. The wallets, the exchanges, and the price fluctuations are too many to handle. I would need a friend who is an expert on this field, and possibly ask to teach me the dos and dont's of crypto. Without someone that would teach me, i would end up selling the bitcoin in a lower price. Worse case, i could be vulnerable to phishing sites and scams.

I just saw the second comment on this thread that was recommending that you put it on a casino dice and roll at once to multiply it.  Don't even try to take such a risk, you might end up losing it all at once, instead of a multiplication. And moreover I don't know where you're living, that £10 can be worth a reasonable amount in your country, you can just start your savings from there.

You can be adding more to it by doing timed investment, and with time your investment will grow and also the price of the assets will go up in future and it will be worth more than what it is worth now. So, there is no need for any rush, even though it's free money, you still have to make sure that it is used wisely and not wrongly.