Bitcoin Forum

First of all, welcome to bitcoin ecosystem. Don't worry if your investment is in loss at the moment, if you can face the red market with patience and confidence then crypto trading is for you. As a new comer you must understand that there is no way you an get rich quickly in crypto, it takes time and knowledge to excel in crypto trading. I advice you to spend small but periodically in bitcoin since it wont burden you and will also help you in earning profit.

First of all, congratulations on your first Bitcoin acquisition; however, many newer members haven't properly comprehended the concept of Bitcoin and cryptocurrencies in general, and the so-called success stories are to blame. You shouldn't be discouraged over losing $5 worth of value. I perfectly understand how you feel because I've been in your position before, but you should aim for long-term holding and the accumulation of Bitcoin while having realistic expectations. Chances are, if you're starting from scratch, you're unlikely to become rich from cryptocurrencies. Focus on your steady growth and don't be discouraged.

Welcome on board to the freedom of money(bitcoin). First you need to learn about security because this images shows you are currently saving your funds on Binance. Learn more about non custodian wallets and save there.
Do not panic about the dump only long term holder’s actually profit from bitcoin, short term trading comes with high risk. Lastly do not invest more than you can lose

Welcome to the BitcoinTalk forum.
If you intend to invest in bitcoin in any legitimate way, then you are in the right place. Judging by your posts and merit points, it appears to me that you are doing well to be here. Good luck
I encourage and salute you for your courage to sell your bike to start investing with a small amount. This will be like a demo account to understand the basics of investing in a practical way and for a small amount. But the amount is too small to diversify your portfolio. I really hope that you will earn twice the amount you invested so that you can at least buy a new bike, so there is no problem in diversifying your savings.
I advise you first to look at the various topics that provide explanations on how to use a private wallet (not on Binance) and how to save your savings yourself. Secondly, never venture into investing what you fear of losing, no matter how safe that investment may seem to you.

Just zoom out the price chart to see its history. You will see a different story there. Don't get emotional over the fact that you just lost $5. And while you are hodling the BTC, don't compare it to dollar. The amount you own will always stay the same if you consider Bitcoin as only Bitcoin. Halving is coming, and the market is going up and down a bit for now. But it will go up for sure. Keep adding small amount of crypto every week or month. Buy at different price to keep a steady value. I am sure you will get a good profit out of it. And also don't sell out of greed early. Make a target how much profit you want from this and keep working for it.

I know your feeling of first investing on bitcoin and seeing the value going down. But that is the first lesson here, invest what you can afford to lose so that you don't have to worry about it.

So if I'm in your shows, it's bitcoin's volatility and learn to embrace it. And what others have said, just be a long term holder and keep that bitcoin and don't ever think of selling it because obviously you will not make any profit. Just wait for the right time to sell.

You always have to start from somewhere, right?

Welcome to the Bitcoin journey, Sometimes the journey is smooth, other times it's so bumpy but as long as you know your destination, you will reach there. Every day, you are going to learn something new, and it will help you make better investment decisions in the future.

Good Luck!

One thing you need to remember, investing in a centralized exchange and not withdrawing it to a cold wallet will only make you sell it quickly when there is an increase. If you really want to invest long-term then the decision is to keep it in a cold wallet as long as possible. I've seen people say they're investing but their assets are still on the exchange. Remember do not store your assets there if not traded. Investing means that you save for a certain period of time, so after buying, don't look at the estimated balance too often. Buy, withdraw and store in a safe place, forget about market rates and continue to accumulate with the DCA method.

I think it's a nice idea investing in bitcoin, but I don't think it's really a nice idea selling your properties just because you want to invest, you should invest any amount you won't be using for now and also invest any amount you can afford to lose.

For your security make sure you blur some parts in the screenshot you posted, you don't have to disclose your wealth here. Also make sure you create a non custodial wallet and transfer your bitcoin to it, don't leave your coin on exchange, it's not really safe anything can happen to your coin at any moment.

And also try to resize the image's which you posted above.

Congratulations!

The first step of investing in bitcoin is always the hardest for the most because of uncertainty but you just broke that barrier. Next, if you're not going to trade it on exchange because it seems based on that picture, you're keeping it on Binance.

My tip to you is to use Electrum or any other reliable wallets (Samourai, Wasabi) if you're for the long term keeps. You don't have the private keys there if you're keeping your first ever bits in an exchange and that means, you don't own it yet.

If he deemed his bicycle was just sitting idle, then for me, it is good to invest to an asset that you believe has good future.
He is learning and who knows this small investment will be worthwhile later on.
This is just the beginning for him, and for sure, he will learn more on this market and start to invest more.
Congratulations to the OP for starting his first crypto investment, and good luck to your journey here.

You sell a bicycle and the money is used to invest in bitcoin, yes, this is a good thing, and hopefully you will benefit from your investment in bitcoin. but you have to be patient in investing in bitcoin. because usually there are always many challenges and temptations. so prepare your mind.

That's a great idea, a great first step to make an investment, maybe someone has already lost the bike to achieve the desire to invest in Bitcoi, but it's a shame that your hope will be to benefit from a rising market that occurs instead of a declining market where you have to keep holding investment assets you first, maybe when you made an investment the market was still in a long bearish state yesterday.

You are right on this one!
Dont lose hope nor make yourself that in panic just because you had seen some negative.We do know that Bitcoin is volatile whether you could lose or earn basing up into its
price movement.Somehow its not that a total $5 lost because as long you arent selling it up then its just a paper loss and not totally been realized.Therefore, its better to find
ways on how to accumulate bitcoin as much as you could.Its not that you should sell goods more or something which you could also accumulate or buy on small amounts too.
You can find some extra jobs or something or whatever that gives you income.

everyone has a different story in getting their first bitcoin, some sell cars, land, but there are also many people who buy bitcoin from their monthly salary which is set aside to buy bitcoin.

and this sounds unique when you buy your first bitcoin using money from selling bicycles, this sounds very interesting. I hope your investment goes smoothly, and you have to be strong if the market is down.

congratulations on your first bitcoin purchase.

The fractions of bitcoin showing here is a good start, you don't about losses on bitcoin when you're still connected like you didn't withdrew your capital despite the deep. Don't give a shit of what's happening to the market, is a phase' when it's time surface your enjoys your coins.

But lol dude you're funny with your bicycle exchange! How much is bicycle I guess is fairly used? You must have sold it in small amount or do add money from other source? I always advised people don't do something because people are doing, do something because you feels is secured and convenient for you.

Like you mention losses $5, what if you lost all because someone is somewhere telling juices stories of investment, when you heard something learn first OK but I congrats your bold steps with bicycle exchange for bitcoin, you will enjoy your reward soon

I want to ask if the bicycle you are selling is no longer needed? or you have 2 bikes?

I ask that because I have a suggestion how good it would be if investing using idle money,

but if your bike is no longer needed, I think your decision is a good decision.
I hope you get a big profit from your investment.

I'm glad you selected Bitcoin over random altcoins. Keep it up OP, I believe this is just the beginning and once you start this act, you will see the difference and you will learn life lessons, especially in finance.
Before when I started to save or use Bitcoin or invest their also, I became responsible for my finance and become aware of everything like my expenses, investments, income, etc.

I never sold any material thing in my possession just to accumulate bitcoin, all came from my salary, but that's a good move. What you only need is to learn the security on how to secured your holdings. So holding it on non-custodial wallet like electrum and mycelium ^{(for smartphone)} is a good move unlike it on an exchange for long time.

What did you plan to to next after selling your bicycle for your first Bitcoin investment?

I think you should have better plans, work to get salary and use part of it as your savings but rather than savings, you invest it in Bitcoin. With this gradual accumulation, you are doing dollar cost averaging too.

https://dcabtc.com/

Bitcoin is in its bear market and any price you buy in a bear market is a great discount in a next bull run.

The idea of selling assets to invest in bitcoin is not recommended unless his bicycle is no longer used. I agree that we should go to work and spend some of our paychecks on investments rather than trying to sell assets for investment money. But also should not use savings to invest, saving is for emergencies, and one should prioritize saving before considering an investment. If you don't have enough money to invest, work harder, and save as much as possible, and you will have money to invest. Investment is very risky, so we do not need to be too hasty.

You sell a bicycle then put your funds into a bitcoin investment sure this is the right decision but as this is your first investment in bitcoin do you know all the risks about investing in bitcoin and are you prepared for the always volatile market that can sometimes make you lose everything and can also make you able to get a return in a short time.
Don't panic about the current decrease in your portfolio value after you buy bitcoins because later if the bitcoin price goes up again, your portfolio value will also go up again and you will even see a profit when the bitcoin price goes up.

a few days ago I visited my brother's house. He bought his first Bitcoins on one of the centralized exchanges. But it turned out that he presented a problem and asked me for a solution. What he experienced was: he couldn't make withdrawals to a non-custodial wallet, the reason for the withdrawal process was confirmed using a mobile number even though the number had been lost for a long time. I tried to help him by reassociating the new number but it still requires confirmation of the old number. So the case is that until now he has not been able to liquidate his assets on the stock exchange. Contact support and must complete KYC requirements, Processing takes 7 working days.

Learn from the story above that if you want to invest in Bitcoin and not trade it then immediately make a withdrawal to a non-custodial wallet while you can. Because if it is still stored on the exchange, it means that the asset is not yours, but belongs to the exchange. At any time when you have withdrawal problems, the process will be more complicated.

Technically speaking, he can't loose everything on his btc investment. He can only loose it all if he starts futures/options or altcoins trading with his initial investment. Bitcoin can't just go to zero to make his 50$ worth null, :P

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Also, @OP you must immediately transfer your investment to a safe self-custodial wallet if you are not going to trade with it.

That is a great idea and congratulations for owning your first bitcoins. Don't worry so much about the short term price fluctuations, you did the first step of buying coins and now you need to wait for the next big bull run. Once the bitcoin market recovers you can take some profit and buy a new bicycles. In my opinion it's clever to sell physical things we don't need at the moment and invest the money in bitcoins. Back in 2016 I did the exact opposite, which was my biggest trading mistake. After making a lot of profits in CSGO skin trading, I cashed out all my money into bitcoins, but didn't keep them. I sold the bitcoins and bought a new bicycle for it. It's a great bicycle and still works fine today, but every time I use it I think about how much the bitcoins would be worth today. Not going to make the same mistake again and will always keep at least some bitcoins in my wallet.

OP, I can understand your feelings of joy. I wish that your new investment will be successful, and since you sold your bike, you will be able to buy a new one with the proceeds from the investment.
Nevertheless, for your future holidays, it is not necessary to increase the font. I hope that you will become less emotional as you get used to your deposits and that you will calmly react not only to the ups but also to the fall in the price of bitcoin.

If your bicycle is unused and it's not important to keep your bicycle, then it's a good choice because bicycle's value will not increased, so better to convert it to Bitcoin.

But if the bicycle is the only one vehicle you have and it's used for work or something else, it's really dumb if you sell it. Nevertheless you've sold your bicycle and there's no way to rewind the time.

@OP you need to hold it at least for the next 2-3 years, thank me later.

You are wrong. You do not lose anything if you don't sell. What happens between the point you buy and the point you sell doesn't matter. That's why you shouldn't invest money you can't afford to lose.

What I began to do is to make a plan.
A plan may look like this:

• If BTC is below 25'000: invest a (small) amount every month (this is called DCA)
• If BTC is above 40'000: sell with a plan. For example: 10% at 40k, 10% at 50k, 10% at 100k and so on.

It's just an example. You have to find your numbers by yourself. Do your research to find them. Some may take more risk, some not.
If you invest in BTC, it may be a good idea to look at it's cycles. Some people say it will reach 200k, some 1m. We all don't know exactly and important: we don't know when.
And what others wrote about security: That's the key point. Do not follow people. There are a lot of scams.
Finally: Most people investing in BTC are on a minus now. I don't know if this is really true, but it's my guess.  8)

I guess before you made decision to invest in bitcoin you already understand how the market is, that it is volatile and unpredictable. If the price of bitcoin falls you don't need to be panic because you are already aware about the volatility of the market, and your target is to wait for profit.  Fall of price of bitcoin should not make you feel panic , as far as you are hodling bitcoin the drop in price doesn't mean you have loss your bitcoin,  you only loss when you panic and sell your bitcoin. 

Just keep calm and hodl do not allow volatility to make you panic, the fall of price won't remain forever it will definitely rise back. You took a bold step to invest in bitcoin which will be profitable to you if only you wait.

I could never agree with him. How did he get interested in selling his bike and investing in crypto?
Is he not well versed in crypto currency?
 Does he not know that there is only profit or sometimes loss? If he knows this, why did he invest his own personal money?I think a job is very necessary to live in real life and it is better to save the necessary money and invest the extra money in crypto. Because once a victim of loss here, many miseries in his real life will come down.

It’s too early to expect good profits from bitcoin, especially that the market is still not bullish. But still, stay being optimistic. Bitcoin profits are most seen when you consider it as a long term investment, the longer you hold it, the higher the profits you will gain. However, always know that bitcoin investment are not all about profiting only, we have our fair share of losses and profits here. But if you want to maximize your profits, invest bitcoin for long term, and never fall for panic selling just because bitcoin value is declining. Bitcoin will surely grow, you just have to patiently wait for it. And while waiting for the price to increase, I suggest you do DCA but only with an amount you can manage to lose.

OP didn't mention if that bike is still in use or not. If it is no longer used, selling the bike for an investment is a good idea because the longer the bike is left, the more it depreciates in value over time. But if it's his day to day medium, then I would disagree with his opinion. Sustainable investment is from idle money, not from selling other assets to invest.

Investing is not always profitable, and having a job is the surest thing that can guarantee life as well as the future. Do not be too dependent on investment and think that it can bring us wealth without working.

If you see that the value of your investment is decreasing, that's normal because market conditions are also declining. And when market conditions start to change, especially if the bitcoin price can touch more than your purchase price, that means you have started to make a profit and that's just what selling price you want to set so that your profits are bigger.

I hope you can invest in bitcoin the DCA way and not buy bitcoin with all your money at once because we will see a lot of ups and downs this year. So prepare for its arrival and try to buy when the decline comes.

I recommend this method too because we don't really know what will gonna happen in the future with those trusted exchanges because we have already seen some scenarios that we don't think might gonna happen like in the case of FTX. that's why right now when you have a decent amount of BTC and you are planning to hold it for a long, it is recommended to have a personal wallet where you are the only one who has the access to it whenever or wherever you want. This is the beauty of bitcoins and you are probably worried about the complexity of using a personal wallet, I understand. Just learn it first then read the necessary procedures on how to protect your wallet keys and you are good to go.

There are places where a bicycle is a crucial mode of transportation, pretty much a must. That's because in some countries the villages can be quite big to walk around but not big enough for public transport and there is no infrastructure for using cars on a regular basis. Or countries and cities where people tend to cycle instead of using cars or public transport because there's a strong eco-friendly culture and good infrastructure for this. I hope that in op's case a bicycle wasn't as important, so selling it to invest in Bitcoin was a good idea. The thing about investing in Bitcoin is that it seems safest to go for long-term investments. This way you can simply wait out the bear market and not be concerned about the temporary losses. Good luck!

Wow,nice one OP I bet you,that you will never regret your decision of selling your bike to purchase a fraction of bitcoin. I have seen a similar topic with yours in this forum but he had two bikes and sold one. Material things depreciates but assets like bitcoin don't depreciates instead it increases in value.

If you check this out,you will see that in four years time from now,it is either you might have sold your bike or dumped it because of depreciation or you must have spent so much for maintenance. Now that you have converted your bike to bitcoin, if you study bitcoin cycle and follow the rules of when to buy and sell,you will be making profits. The most interesting thing is that you will still own a bitcoin.

Welcome to the cryptospace.

It's certainly good that you invest in bitcoins, but that you sell your hobby bicycle and invest in bitcoins doesn't make much sense to me. Since you are going to invest in bitcoins first you can buy bitcoins but my advice is if you have enough profit on your investment then you buy motor bike instead of bicycle. Like you, I have invested in Bitcoin several times but I have never invested in Bitcoin by selling any material. In the month of December 2022, I withdrew money from the bank and invested in Bitcoin and currently I have received a profit of 300 dollars from that investment.

There is nothing to worry about, no cause for alarm. You have taken a bold decision, however, you should have waited a little while and analyzed the market, and bought when the price is low, it would have helped you now that you worry about market decline though it is better even better that you stick to bitcoin else you will have had more loss had it been you bought an altcoin.
The next piece of advice I will give you is this, please get a hardware wallet and move your bitcoin out of an exchange, it is better and more secure if you hold the private key where your bitcoin is held, if today Binance becomes insolvent, you will lose all hard work you have done to purchase your bitcoin.

With investments also come the risks so we should be prepared for it but yes whenever our funds loose value we are worried about it.On a personal note if you have knowledge and faith about btc then holding it long term will give you good returns as well as patience to hold it for that time period.Many newbies invest what they can't risk which is why they get panicked with dumps but keep your patience level high if you have decided to invest.

Great OP, although many people are not happy that selling assets to buy bitcoin is not advisable, but sometimes we need to make tradeoffs, and take risks to achieve greater things. If it is a house or other important assets, it is not recommended, but this is just a bicycle, I believe it will not affect your life too much, and you certainly have a plan for yourself.

The next thing you need to do is hold it long enough until you make a profit, and to do that, you need knowledge, knowledge is the only way to succeed.

As long as the information and ideas you have got can really help you to invest in Bitcoin, it doesn't matter if you continue to run it from now on. But what you need to know is if you only want to invest in Bitcoin and not take it into day trading, it is better for you to keep it in a trusted wallet and not even put it on an exchange even though it is a trusted exchange.

Your decision to invest at this time is not wrong even if you sacrifice one unit of your bicycle for this. But as I said above you only need to keep Bitcoins safer if it is for investment and not for trading so losing $5 initially is very common in investing as you still have plenty of time to recover the lost $5 and even you will get better profits if you have enough patience in waiting for the best price for Bitcoin.

Bikes are not like a real estate or other investment assets which value can appreciate overtime. Another factor which helps their value depreciate more is their material gets deteriorate over time but if you know how to do a maintenance on your bike like if you will paint them to prevent them from rusting then you can prolong their shelf life. These days in my neighborhoods, people are preferring cycles for commuting nearby as it got health benefits as well. So, selling bikes is somehow a new trend now for various reasons.

Hey bro i think to hodl your is coins is very simple,firstly just move it out of the centralized exchange (binance), because you not completely the owner of the coins when its in there. Then secondly look for a non custodial wallets like the electrum wallet, which has proven to be very good for hodling and safeguarding your coins and don't forget to keeps your seed phrase very secure and probably save it offline. Then the next big thing is that you totally shy away from the market trend because as a newbie the volatility of bitcoin can make you scared and want to sell off when the price eventually dips. Just be sure that the market will pump again. Try and save it for long because that's when you can actually get some tangible profits added to your investments. Again you can decide to sell off your coins but that totally is in your control but a long term investment is more advicable and preferable.

As a financial advisor I have some worries here.  First off, it sounds like for you investing in something so volatile might not be the right thing.  Any proper financial portfolio should always first start out with a "foundation", meaning traditional assets and investments like stocks/bonds/money market accounts etc.  Then once you've got a solid foundation laid, and are on track to meet your retirement goals, THEN when you have some extra money, investing in more volatile 'investments" like bitcoin might be a good idea. 

Moral of the story, if losing $5 is a big blow for you personally, you shouldn't have bought any bitcoin.

Well, you've done yourself solid but, am not entirely sure it was a good move to have your belongings sold just to invest in bitcoin. It's not soke straight up idea and you better not be doing that. One principle to investing is that;

You invest with your spare money or that which you can afford to lose.

Now, having your belongings sold in other to invest simply means, you not using your spare money to make that investment and that is clearly something you can't afford to lose.

The bitcoin market is clearly one that you can gain from a long time of hodling but, the means to which you love used to acquire the sats which yiu are hodling now is one that could easily lead you into loses by putting you in the pressure for profits.
Like you've noted already, your $6 down of your original investment, you must as well have lost money from the sale of your bicycle as no one would want to buy it for its worth and  just like that, the loses are already coming.

Anyway, goodlyck to you but, I hope this be the last time you use this move in getting the funds you need for an investment.

The best way to be successful in your investment is to stay optimistic despite of the market crashes or correction. Whatever you see today is just temporary so never lost hope and get discouraged. Just continue to hold your bitcoin for long term, and never get panic and end up selling them at a lower price because that only makes you a loser in the end. And maybe, DCAing these days could be helpful if you want to increase the volume of your bitcoin in your portfolio, and just wait for the perfect time to sell so you can be highly profitable.

It's amazing that you bought Bitcoin. We love to see more Bitcoin investors as Bitcoin enthusiasts. Yet, I'm uncertain of whether you made the correct or wrong choice. In reality, everything depends on you. Selling something that wasn't necessary for you is a good thing, but if it were necessary, it wouldn't be the best. Since Bitcoin is a cryptocurrency with high volatility. You might have to wait a very long time to recover. Yet, if you are fortunate, you could always multiply your investment. Be sure your money is secure in a non-custodial wallet, though. These days, exchanges are not secure.

I have two great concerns about Op

1. Why do you have to sell your property to invest in bitcoin?
Don't you have any other need for the bicycle? Investment is done out of what you earn and not by selling properties, unless is the property you have no need of anymore.

2. Why almost every newbies first bitcoin investment is always on CEX, especially Binance? Can this trend everly change to the right thing?

From the look of things, ops some is growing up in the knowledge that you need and while at that you are advised never to invest what you can not let go for a couple of years, Bitcoin is not a get-rich-quick scheme and at that, you need to have strong patient and motivation.

Unlike what you presented,  it seems you lack every attribute of a Bitcoin hodler.

And going forward I will like to advise you to avoid selling personal belonging to invest in Bitcoin, bitcoin investment should be based on spear cash because of its volatility.

That is a must as any exchange will only be good for trading, but not a safe place for saving our money. However, the market volatility or let’s say bitcoin volatility is what make us more profitable in the long run. But newbies seem to have fear on it instead. Moreover, as long as you did not sell when the price is declining, you will have nothing to lose. Just consider bitcoin as your long term investment, that way you will have no reason to sell whatever the price it is today.

@OP, it is normal for the price of Bitcoin to fluctuate.  As we know it is still considered as highly volatile asset.  So don't worry if your stash is in negative at this moment.  We are still in a recovery phase, just wait a year or two and you will see a massive increase of your profit once Bitcoin rallies toward its new all-time high after this coming halving event.


Well it is better to sell your bicycle than let it get old and become useless.  As you see bicycle value decrease as it gets older, selling it for a possible asset to double or triple in a couple of years is way smarter than having the bicycle and waiting for it to become worthless.


Binance is a popular exchange and possibly their mentor advice them to buy their first Bitcoin on Binance exchange.

When you plan to make an investment, especially about long term investing - then plan how you keep your assets safe in the long term as well. No matter how small the investment value you have, privacy is the most recommended thing for you to protect, while you don't do it so that risks are always possible for you now.

In fact, you shouldn't even tell anyone online or offline about the value of your portfolio, that's just risky. Then, consider having wallet that you fully control so you're not forever trusting your money to an exchange.

It is true that the amount is small and it was a loss the first time, but the experience itself is new and exciting.

It is exciting to see Bitcoin enter into the small details of our lives and become a part of it. In general, I support investing in Bitcoin, but I do not agree to sell the property that we need to invest in Bitcoin.

If the bike is redundant to your needs and you can give up, then this adventure is fine, but imagine if you sold your car or house, invested in bitcoin, and then lost? Such odds remain, so you should always risk only the amounts or things that you can afford to lose.

Well, as long as your bicycle is not useful to you anymore, then it’s a good decision to sell and invest in bitcoin. But still, invest on the amount you can afford to lose. As bitcoin investment has still high risk of losing especially if you are not ready to invest for long term. Furthermore, do not keep your money in an exchange, whether you keep it on highly trusted exchange or not, still the risk of losing will always be there. Use an exchange if you plan to trade, but the rest of your money should be place on your non-custodial wallet so you can keep them safely for how long you want.

Practically, there are some miles you can travel with your bicycle that can save you time compared to when you travel on foot. That's the purpose of your bicycle, and the purpose you sold your bicycle to invest in Bitcoin is to make profit. I hope you are aware of Bitcoin volatility before investing. You invested a small amount, so it's obvious that you need to hold for a long time, maybe not very long, depending on the profit you wish to take and also on the volatility of the market. It is always recommended to only invest money that you can afford to lose. There's also the story of a guy in the forum who had two motorcycles but sold one to invest in Bitcoin, but he still has one motorcycle to use. Do you mean you have no use of your bicycle any more?

That is Bitcoin investment.
Well, firstly, congratulation on your first investment in Bitcoin, I am sure that this will become a never-forget moment in your life. Moreover, you decided to sell your bike and convert it to Bitcoin. I think that it is a brave decision to do it. We all know that the Bitcoin market is still in the bearish era, and the price still changes every day. The price may be declining as you said. But, it is no need to worry so much and become panic because Bitcoin investment will be very valuable in long term. Let's say that you only have that amount. if you can add more and more again later and you can wait for the long term, see the result of the bullish era. That will be awesome

I guess OP is in the right track, congrats on your first accumulation of bitcoin. But in order to grow your bitcoin, you need to hold them as long term investment. Like 3-5 years, or even 10 years if you want, because the longer you hold them, the higher the returns. But also take time to sell in times of profits, as you are here eventually to make decent amount of profits. And don’t be comfortable saving your bitcoin into an exchange for long, have your own personal wallet so that you can manage your funds well.

I like your dedication and ambition to gain profits by investing in Bitcoin, and let me tell you that you got nothing to worry about as you have just started and you have entered the market at not a very bad position. The price of Bitcoin is still pretty low for those who want to invest for the long term, and I believe you can hold your Bitcoins for long enough until they turn profitable.

The price of Bitcoin keeps fluctuating, so that isn't something you should be worried about. No matter how small your investment might be, it is not bad for a start, and you can always add more in the future when you can.

Invest what you can afford to lose, Always remember that. I hope that you didn't need your bike in your daily life since If it is, I believe it is more important that having bitcoin. Don't risk too much especially that you are new to this industry, It a good thing that you did your first move as you are into cryptocurrency. Newbies tend to lose at first as they get a grasp of what they are entering into that's why we don't really recommend risking something that is important such as selling something that is needed on your daily lives.

Always the primary rule which people should really be considering out before they would be touching up the crypto space because we cant really be sure on what would happen next and also this market had been

unpredictable and volatile in the first place.If you do put up all of your savings and earnings on Bitcoin or other crypto then there's always a risk since there would be no guarantee.This is why you should really make yourself that self accepted that it cant really be that just a simple investment where its risk-free.

If you do make out those initial steps on acquiring bitcoin then its good but be wary on what you are doing as always.

You are welcome to the Bitcoin world and for your endeavors to own a Bitcoin is a good attempt. You may not understand the benefits now but as time goes in you will know how the network works and understand the market also. The market is bear now and I see it as an opportunity for you to buy at a cheaper rate now so you can make good profits from the market when the price goes up.
 Bitcoin is not just about the profits but you will learn how to hold for long as not to be over curious investors that is not interested in holding for a while but for a long time to maximize profits.

Have patience and I believe you OP have got good understanding about the market, because most of the time the decline makes the new investors get into panic when the investment turns downward. In the past people have sold their entire properties and invested into bitcoin. Now the family have been mentioned as an example and are creating awareness all around. You didn't want to take big risks, but believe in it and continue to invest. You'll get the best out of the investment in the long run for sure.

Thank you sir..

Thank you so much sir..

I hope to get a good understanding of the market slowly.

Of course I am ready to take the risk.
Thank you sir.

Thank you so much..


Thank you so much..

I am very happy to invest in Bitcoin. And this time will be a memorable time in my life.

By bicycle I used to do many daily essentials like going to market for tuition etc.

Thanks for your valuable feedback.

thank you

Although in the first stage I was at loss but I am very happy.

Your advice will be in my mind
Thanks for the advice

Thanks for your advice

Thanks for your advice
Investing I am ready to exercise maximum patience.

Thank you
 
Your information was great informative. Which will be useful for me in future.
I am always ready to take such risks to achieve success.

Your taking such a risk is truly an inspiration to us. I very much appreciate your work. And seeing your risk-taking mindset gives me some courage to invest in Bitcoin myself.  I have been wondering for a long time whether I should invest in Bitcoin at this time. But I couldn't risk investing in Bitcoin.  But since you have taken such a big risk to invest by selling your bicycle as your only traveling companion, it is really an inspiration to me. Thank you for taking such a big decision and hope you get a good return on your investment.

Good @OP. At least, one step you take now you are a step close to achieving your success. No need to wait for another time as this correction is a good time to add more bitcoins to your wallet. Those who invest in bitcoin want to pursue their future and are willing to take the risks of the fluctuating price so they can stand with their strong hand to hold their bitcoin. You should be like them to hold your bitcoin and continue the investment because, in the end, we will make a big profit in the next bull run.

Nice idea buddy, you try it in a very simple way. Selling bicycles to buy Bitcoin is a new experience in your life, I hope you are able to survive the storm to get victory after the graph increases again. I admit this is not easy, especially you just lost $ 5 on the first try, patience will lead you to success in investing. what is reduced is only the estimated value, the number of Bitcoin remains the same. So never worry.

You will surely succeed in bitcoin investment if you are determined to follow the valuable advices here in the forum. And btw, never be pressured when prices are declining because it won’t be happening all the time. You might be surprised by tomorrow or the next day the price has started to increase already so just stay patient and just enjoy accumulating more bitcoin while there are still opportunities to buy. When the bull run strikes, obviously it’s time for us to reap our profits together.

Welcome and I support you by selling something that you own because you want to invest in bitcoins, and that is much better than doing it by borrowing because it is not such a good idea.
I hope you do for the long term and it doesn't matter how big or small you have because in the long run even if you only have a few bitcoins they will be very expensive in the long run. And you can buy a much nicer bike if it's profitable, and the most important thing is that you have the patience that even if the bitcoin price goes down, it will eventually go up again. So patience and strong belief must be instilled in you, because both are very important when we invest in bitcoin so that you remain calm.

You have done a good thing by investing, and I can assure you that Bitcoin will not fail you, it might only delay blessing you. Although you could have learned the investment better before engaging it, which would have helped you to speculate better to know when exactly to start the investment, and it would have avoided the initial losses incurred.

Well, the deed is done, I encourage you to be patient, the coin is on its bullish path between now and the next 2 years, so you will earn a multiple of your investment by then.

Nice determination to invest and buy a part of bitcoin. But hopefully, the bicycle you just sold is not a necessity for you. Many people in other countries use bicycles as their regular mode of transportation to go to work and on their way back home. Meanwhile, your investment might turn $200 in a couple of years or even more in the long run which is enough to buy another bicycle plus the extra profit. Just be patient, don't get tempted and emotional on the big up and down swings and if you have extra savings from your regular income, a DCA in other smaller amounts would be great too.

Congratulations on buying the first bitcoin in your life.

Bitcoin is actually not the case when you become a millionaire in one day. Be patient and gradually increase your portfolio. Do more research and follow the news in the world. And then you will succeed!

Congratulations on getting into bitcoin but there are few things you should know.
I hope that the bicycle you sold was an old one or a spare one. You shouldn't sell things you "need" in order to buy bitcoin.
You have invested around $50 and you should not keep unrealistic expectations with your investment.
It won't get you $500 in a few weeks.
Investment takes time to give you profits and you should be able to hold that long to get those profits.

an event that everyone experiences when they first buy bitcoin. the main thing is that we must be able to maintain mental stability to deal with price fluctuations, when you have already invested, my advice is to learn more about bitcoin, so you know what you should do to make a profit. for me you are right to choose bitcoin, not a new altcoin, so there is no need to worry about the money invested, as long as you can be patient

Well congratulation on your first investment, I hope that it would be worth it for you OP.
And it is true what Xampeuu have mention you should be prepared for all of the things that could happen in crypto.
You already experienced the downfall of the market so just hold on and wait for the Bull to run and enjoy the profit.

You really deserve a lot of praise. Whatever decision you make to invest, I hope you will find success in your investment very soon. Even if you lose 5 dollars in the first investment, never worry, you will soon recover and see success.
I think you are one of the investors in kypto currency. But I hope you go further to get a better understanding of investing. You gain knowledge about investing online and apply some investment strategies in person. You will benefit more from it.

On the matter of investing, don't ever invest based on what you heard people saying, always to your own research, take you time, learn everything about bitcoin and decide on your whether you still want to invest or not.
And for those investing, always remember that bitcoin investment is for the long term, don't go selling anything or item you know you gonna need in the short term all because you want to invest in bitcoin, some people sell their houses and invest the money in bitcoin, forgetting that houses are also a good investment too.

About bitcoin storage, I will have no opinion with you because what you said is absolutely true. But I don't think once you become an investor and avoid market trends, it's not an investment. Once we have invested, we need to accept and face the challenge, only then will we mature and know what to do next to survive in the market. Avoidance is not the way to survive in this market, the more volatile the market, the more you have to face it.

Woo-hoo! I'm giving you the biggest high-five for taking the plunge and investing in Bitcoin. You've entered a world of excitement, thrills, and unpredictability! Brace yourself, because Bitcoin's value can be like a rollercoaster, but don't panic - it's all part of the fun!

Now, let's get down to business - keep yourself up-to-date with the latest news and happenings in the Bitcoin world. Also, why not throw in some other investments too, just to be on the safe side? Remember, only invest what you can afford to lose, and have a solid game plan for the long run. Let's see where this investment takes you, and best of luck, you crypto warrior!

Everyone has their own budget, not everyone will be capable of investing thousands of dollars into bitcoin and I support this move. I mean if you didn't need your bike, that means you should not be really worried about it in the end, let it be how it is right now and invest whenever you can.

Yes, the drop has been bad for most people, but do not be worried, if you can find another 50 dollars, just buy more and keep on investing. There will be plenty of people who will tell you that you are stupid for putting more money into something you already lost some money on, but I guarantee you that in the future that money will go up and you will be richer thanks to it.

Life is all about taking significant, risky actions to build wealth. To escape from a poor income, never stop experimenting with new strategies. Losing doesn't sap my energy or demotivate me; instead, it just gives me great encouragement that I'm headed in the right direction. One can keep failing until they get it right just once, which will make up for all of the previous failures. Already, the act of selling bicycles in order to get bitcoin demonstrated the desire for money. Given that significant efforts have been taken, there is greater optimism for impending huge earnings.

yes.. it's true that I also have experience of storing bitcoins on the stock exchange and as soon as there is a slight increase it feels like I immediately want to sell it.. and in the end it is sold but only makes a small profit.
So indeed, if we keep our assets on the stock exchange, the temptation is always great.

I am sure you are still young and just starting out, which is a good first step to selling your bicycles to invest in bitcoin. I know others may say those $5 losses are too low, but for you, they're big, but the feeling of losing them is the same to the big one. Also, while learning, try to focus only on one section; don't compress your learning, like learning it all in one day, as you can't digest it. Try to read it in your free time or allocate how many hours a day you have. Also, it would be nice if you read news about bitcoin daily so you can learn about it and also see how the market goes.