Bitcoin Forum

Hello guys congratulation to me, I just purchased my first  bitcoin, it really feels good knowing that it's one of the best decision I've made so far, I am proud of myself even if the start up amount is small, I hope to add to it consistently by the end of every month. I purchased the coin on an exchange but am looking forward to buy a Trezor hardware wallet for my coin storage.

I can't even express how exited I am, even if this is just the first phase, I believe the amount of knowledge I have accumulated about bitcoin through this forum will strengthened my emotion not to panic when the market goes bearish.

Thanks guy for your support, advice and wonderful opinion. (https://bitcointalk.org/index.php?topic=5466084.msg62812932#msg62812932)

Congratulations on your first purchase, every little satoshi today would definitely one day accumulate to a bitcoin tomorrow  ;D so keep adding.

Now on a serious note first of all do not flaunt your asset on online platforms like this keep your anonymity. To start with that this big on you purchase is certainly from binance base on the image you just posted. So my first advice is take your funds off exchanges to self custodian wallets like electrum, because not your keys not your coins .

There many other wallets to look into you can have a snip at this thread (https://bitcointalk.org/index.php?topic=1631151.0) for bitcoin wallets. The most recommended one is the electrum wallet, here is a thread on how to verify (https://bitcointalk.org/index.php?topic=5240594.0) it.

If it is not necessary, you do not have to show the public the amount of bitcoin or coins that you bought. One of the first rules about cryptocurrencies is to never show the public your coins.

If you are anonymous on this forum and no Nigerian know who you are, that is fine. But if you are not anonymous, hide your coins. This is a small amount but in case of next time.

Happy to see you excited and satisfied after doing your research. But, we all make mistakes when we're excited. At this point, I don't think you should publish an image of the exact amount of bitcoin you bought, because now it's trivial to just hit that number on a block explorer and have you traced within a minute.

Now as for the hardware wallet, it's a good practice, yes, but for such a small amount as 41,629 sat, I think you should stick with an encrypted wallet on a well-reviewed wallet software like Electrum. Good hardware wallets are worth like four times that amount at least.

Congratulation on your first purchase , welcome to the cryptos never ending journey mate . Just a few precautions that you will need a solid , reliable and dependable Wallet since your first optione are hardware wallet its good.

And friendly reminder to store your seed phrase/private key securely and always get a backup just in case. And also keep your anonimity private , dont want people to mess up with you 

Congratulations on your first Bitcoin purchase it’s indeed a humble beginnings and it comes with a lot of excitement, I know those feelings. And it’s also good that you have been able to read through the forum and realize that storing crypto in an exchange account is not safe which brought you to the decision of think of getting a hardware wallet.

For the main time considering the amount of coin which you have purchased and the cost of hardware wallet, truth be told hardware wallet is not what you need right now, you can go for mobile or desktop compatible wallets which you can use for the main time wallets like that of Blue wallet and Electrum as they are among the highly recommended Bitcoin wallet as they are both option source none-custodial wallet. You can start from their then later when you have top up and upgraded your Bitcoin holdings you can then consider to get a hardware wallet, the money for the hardware wallet can be use for the main time to get more Bitcoin.

In addition to BlackHatCoin's post above, Electrum can be used as a cold/offline wallet; it functions similarly to a hardware wallet. If you don't have a budget and just intend to keep bitcoins for a long time, Electrum cold storage is a good alternative for the Trezor wallet.
And always remember don't leave your asset long to any exchange just like what happened recently with Coinex there are many customers right now having issues with withdrawal they currently suspended withdrawal due recent hack.

Image has been deleted, thanks for understanding the cause of such risky mistake and your concrete love and advise, I feel more excited knowing that I have been welcomed by my fellow bitcoin holder. :D

I completely agree that keeping lots of crypto on exchanges isn't smart. However, withdrawing may not be the best solution for the OP given the amount involved. I don't know Binance's withdrawal fees, but losing a chunk of your funds to secure a small amount doesn't make sense. In my opinion, $10 isn't worth the hassle, so using Binance should be fine.



Hey there, OP! First off, congrats on your purchase. If you plan to continue investing, here's a tip: consider moving your Bitcoin to your own wallet whenever it reaches a substantial amount in your eyes, like hitting $100 worth of BTC. This way, you won't have to worry about your funds getting stuck on the exchange, and you'll save on fees by making one withdrawal instead of multiple smaller ones.

You are learning the first rule of privacy which is to keep your assets private or this will be the second rule, behind keeping your identity private.

The funds you own, where you live, your social medias and IP address are all just personal information, but when put together can be used for malicious activities like targeting you for a scam campaign or cloning your financial self and taking actions that will directly affect you.

---

Also double check before taking any action cause privacy mistakes cannot be undone.

- Jay -

Huge amount or small amount of Bitcoin you buy is the same because it is the same but if you are going to compare it to huge amount then you can buy again in small amounts until you accumulated enough Bitcoin. It is indeed a good decision if you ask me to decide buying Bitcoin instead of buying other crypto that you aren't sure about it or not the best crypto there is. I also agree with the decision of not flaunting your wealth or assets online as it may compromise your wallet and may lose all your assets. Good luck mate qnd congratulations.

Congratulations, that is for sure a genuine feeling after your very first purchase of Bitcoin and be consistent to all of what you've said if you're planning to accumulate more on a monthly basis or whenever you're available to.

It is not going to be easy if you experience the bearish moment of the market but you have to experience that and to see how you're going to react on it. But don't you worry for now because we're done on its cycle as of the moment and we're approaching the halving which is the indication that we're near in a bull run. Keep it up. :)

The journey of a thousand miles always start with a step so it doesn’t matter if the start up amount is small or big all that matters is you have finally purchased bitcoin. Purchasing it is one step and protecting it is another step which you must not play with if you don’t want to lose your bitcoins. I’m sure you must have learn about how to safe guard your coins and your keys. Just be careful with storing your assets on exchanges, they are not realiable and they cannot be trusted.

Not long ago news came in about an exchange CoinEX being hacked, loosing 27 million USD worth of crypto which i think is now confirmed. that’s one of the reasons why you shouldn’t keep your crypto assets on exchanges. See link below

https://bitcointalk.org/index.php?topic=5466540.0

Mate, you did the best thing so far as a newbie who is a bitcoin lover to take advantage of buying at the dip. The amount you bought doesn't really matter but what matters is the safety of your coins and you shouldn't leave them in an exchange because they are centralized and have control over your keys.

Electrum wallet is good for you to use to keep your bitcoin based on the amount that you bought. When your investment has grown to an extent,you can switch over and get electrum cold storage wallet,which your keys should be generated on an air gap device.
Welcome to the cryptospace.

How much Bitcoin did this fella bought that will make them become a target? Not enough and also even if this fella is a Nigerian how will other Nigerians on this forum know who he is? The only way this will be possible is if the OP contact other members off this forum himself or herself and that can be a very bad thing to do, because we can't tell the type of people that are on this forum.

I don't have anything to hide on here because this forum has nothing to do with KYC and that's why I am loving it, if verifications are available then it's possible to become a target, also if this forum requires for phone numbers then it's another reason to become a possible target.

Many Bitcoin whales addresses are available everywhere online, and nobody knows who they truly are, OP use a nickname to open his account so I believe there is no way to get your identity revealed, unless you do it yourself.

For every achievements done is life always comes with a task required to maintain or sustain that achievement in other for it to last, i have this advise to give you on this, try as much as possible to ensure that you take good care of your bitcoin with all you've got in other for you not to loose it into the hands of the fraudulent fellows, this may come with some tips i will advise you, avoid holding your bitcoin on centralized exchanges, don't leave your private keys open for anyone to see, if you can maintain these good practice, you will maximize your security safety to a desired level.

Wow, you have made a great decision with your first Bitcoin purchase. It is good to have people like you in the Bitcoin society, people who can take risks with the little money that they can afford, although the amount of Bitcoin you have purchased is not the matter, but the real truth is that your Bitcoin is not in a safe wallet. You should try and send it to an ELECTRUM wallet just like as @Frankolala explained earlier. Please, next time you shouldn't disclose the amount of Bitcoin you bought, but now that you have removed it I believe you will not make the same mistake again.

My advice to you is that you should never be in a rush to sell but be in a rush to accumulate more coins, especially this season when you are so comfortable buying your first crypto-currency (Bitcoin).

I don't want to spoil your euphoria, but you are just at the beginning.
You need to sell or exchange that Bitcoin now. After that, you can buy it again and possibly move it between your two wallets. After completing the entire process, you will certainly have a more complete picture of what it is all about.

Congratulations,  you have done so well buying bitcoin,  this is a great achievement but one thing I'd so much love from you if you are already aware investing in Bitcoin is not to get rich quick but investing is about patience to hodl for you to make profit. It will be so nice if you understand why you are buying bitcoin  and what you need to understand and know to succeed from your investment. I encourage to accumulate bitcoin to add to what you have already,  just buy the amount you can afford to lose.

Congratulation buddy,
I'm happy for you because you're accumulating your Bitcoin at the right time which is before the halving effect market, You're also planning to hold for the long term and have a focus on monthly DCA investment on BTC which is a good one. However, I will advise you to get a ledger wallet instead of a Trezor hardware wallet, and if you want to get the wallet get it from their official website or official reseller.

Congrats! The most important next steps are to move your bitcoin to your own wallet, secure your seed phrase, and run your own node. This will be an amazing journey for you but you have already taken the first and most important step.

Owning bitcoin is the beginning of one of the most amazing learning experiences of your lifetime. Welcome to the rabbit hole. We are happy to have you.

Well, congratulations op. Checking from your post history you really are someone who is determined, to the extent that you even went ahead as to selling your phone. We need more people like you in the Bitcoin community who are ready to make sacrifices for their own benefits. Soon, those people who refused to purchase btc when they have the chance will begin to regret why they didn't. Bitcoin is the key component to financial liberation. I will advice you now, to study more on how to protect your funds from potential threat(hacks) as most people new into the Bitcoin world tends to loss money to these scammers because they lack proper ability to securing their Bitcoin.
You might want to check these links for possible ways you can avoid hacks I hope it's helpful

• Security checklist (https://chainsec.io/checklist/)
• Recommended wallets (https://www.lopp.net/bitcoin-information/recommended-wallets.html)
• Bitcoin security and resources (https://www.lopp.net/bitcoin-information/security.html)
• WARNING when using mobile device wallets (Android, iOS) (https://bitcointalk.org/index.php?topic=5461656.0)
• How to lose your Bitcoins with CTRL-C CTRL-V (https://bitcointalk.org/index.php?topic=5190776.0)
• Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

• Malware, security and protection (https://bitcointalk.org/index.php?topic=5460592.msg62583529#msg62583529)

Congratulations on your purchase. Did you have an easy experience with what you have done? I think you would be able to do it effectively (in earning) if you do that consistently as you said.

Some exchanges do offer recurring buy-ins so that you can invest continuously with cryptocurrencies, This would help you be more consistent and true to your word with investing.

Don't worry about too much on the market, you can never control that. Just focus on what you can control and you would be ok.

Congratulations on your first bitcoin purchase mate. I see how excited you are to have purchased your bitcoin from an exchange. I could tell the fact that it is with joy you made this announcement and it is a good thing to share good news giving room for others to celebrate with you. In as much as you have bought your first bitcoin, you should do well to safeguard your assets properly so as to avoid being scammed or hacked. Always do well to not keep that coin or  assets not under your custody does not belong to you and as  such exposed to uncertainties.  You should always withdraw your assets to a safe place where only you have access to. Just as you have said, do well to get that wallet for the safe keeping of your assets.

Nevertheless, the bitcoin market is still very much down. You can still take advantage of this current market situation to buy more bitcoin.

Firstly, congratulations to you for purchasing your first amount of Bitcoin, and even if the amount you purchased was small, you are in the market now. Fortunately, Bitcoin is still at a suitable price for entry and investment, as we are still in a bear market. This small amount could double in the future after market conditions improve, the positives emerge, and our entry into halving, which has been considered for years to be one of the positive catalysts for the price of Bitcoin, it is good that it is a small amount that you can afford to lose, and this is one of the most important common rules.

As for Trezor hardware, its price may be more expensive than the amount you invested, and therefore... Holding your Bitcoin on one of the desktop Bitcoin wallets, like Electrum or Exodus, or on top exchange platforms is not a bad idea. In the future, after your amount of Bitcoin increases, and you have reasonable profits, you can buy a hardware wallet.

If you want to be comfortable and calm to save Bitcoin, you have to throw away the thought of Bitcoin price, you have to erase your mind about bearish and bullish. because it could bother you when unexpected. Just set the target when is the right time to exchange it. If I were you, I would steady my heart if 1 BTC only equal with 1 btc. so that if something happens later, you will take it easy and didn't panic like others.

Congratulations for your first Bitcoin purchase.

If you will make your first selling, first trading, cashing out Bitcoin to buy something or any exciting experience, you can share it in
Announce your story with Bitcoin, first purchase, sale, business, education ... (https://bitcointalk.org/index.php?topic=5433429.msg61560464#msg61560464)
Announce your rank up, merit or any achievements that makes you feel great! (https://bitcointalk.org/index.php?topic=5391471.msg59647633#msg59647633)

Congratulations on your first bitcoin buy and happy to see that you realized that it's best decision you have made and you will know in coming years what you have got your hands upon so till then keep tight on your funds with full safety.As suggested go with open source non custodial wallets that don't share your keys and funds are safe.But always remember to keep your seed safe with you with full security as if they're lost you loose your funds.

Congratulations to the OP! It's nice to see someone who matches his words with his actions. You did what you wanted: you sold the phone and bought some bitcoins. Don’t rush into the next sale, but just try to save some money if you have it and continue DCA in the future. By the way, always remember and be careful what you post online; the Internet and the forum remember everything. People are curious. I think your deleted photo doesn't hide anything, and it's still available to everyone. :)

Welcome to Invest in First Bitcoin. First everything is much more special. The amount of bitcoins you buy right now is one of your happiest moments, no matter how many bitcoins you buy later, you will never find happiness anywhere. Everyone has a story about their first Bitcoin purchase. Many people plan to buy bitcoins but because they don't have money they can't buy bitcoins so they spend a lot of money saving money and investing in bitcoins. Maybe many people think there is no point in investing a small amount to share it again in the forum, but for the first person who has struggled a lot to buy bitcoins, this feeling is different.
Best of luck to you OP, hope you achieve better things in the future.

Well, congratulations, now comes the hard part and that is holding it as long as you can until you reach your selling goal and keeping it safe.

Don't wait too long to buy a Trezor wallet, and the most important is to be lowkey and never go around announcing that you bought and you're keeping Bitcoin. You could put yourself in danger and so are your loved ones, so don't brag about it you can say that you are supporting Bitcoin, but don't tell people the amount or where you keep it.

Everyone's congratulating OP but there's still a test that OP has to pass which is when bitcoin goes down much lower than what OP has bought his/her bitcoin, if OP doesn't panic sell or anything like that when it happens, then I guess OP does deserve that congratulations. Be careful about purchasing that Trezor wallet OP, some motherfuckers out there are selling tampered one and you never know if you will be meeting that piece of shit so be careful about that part.

Agree.

More than congratulations, the OP deserved a warm welcome instead because, as you said, the merit is in what you do with your coins, not in buying a few satoshis (almost all members here did it, right?). I thought after reading the title that he managed to buy a whole Bitcoin, but it is not the case, so welcome to the forum, OP, I hope this is the first step towards your financial freedom.

On the other hand, buying a hw is one of the best advice we could give to a newbie, but taking into account that one should only buy them from manufacturers or original retailers, and being aware that any personal data you share with them could be leaked (we saw it with Ledger not so long ago).

I was messing with this thread because according to the title I thought the OP had bought a whole Bitcoin and that people were congratulating him and giving him merit without him providing proof, but I see he uploaded an image which he then deleted following sage advice for privacy.

As I see it is a small sum, I would also encourage you, OP, to continue to accumulate little by little but as I just said in another thread, I would recommend that you do so within a wealth building plan, the first step of which is that you have an emergency fund in your local currency sufficient to cover 3 to 6 months of expenses. Otherwise in case of any unforeseen event you may be forced to sell your bitcoin at a loss and this is something you have to avoid doing at all costs.

I also encourage you to change the title to something like: " I just purchased my first satoshis".

Thanks guys I appreciate your wonderful comments, it has really been helpful.


Thanks Hatchy for the links, I'll do some reading when I have spare time.


Are you serious? :o


Done, now members won't be confused that I bought 1 btc, lol ;D

Welldone mate, I see you finally got your hand on the most dope crypto coin in the market. It's a great step and hope you can your portfolio better because as you bought at a very crucial time as BTC is quite low which is good when buying because you will have a better chance when the price starts pumping. Just make sure to keep your coins and key very safe by either storing it in a non custodial wallet to avoid any drama that might eventually pop using any CEX.

Congratulations on your first Bitcoin and I am so glad to see that a newbie did such a wonderful act as most people did not. I am also happy that you came to the world of cryptocurrency, It gives pleasurable feelings to take a step into the cryptocurrency world and I know you are very happy but during the happy mode Most people make mistakes so hope you will not make that and do not post such a post because its a decentralized and anonymity world and for your security and privacy you need to be more careful and for that you have offline/hardware wallet which will make your fund save from any negative persons.

We are still in the bear market and have some time until the next bitcoin halving. Usually, the bitcoin price starts to gain momentum after the halving, so you have joined the space at the right moment. You have just started accumulating bitcoin, so do not listen to others on YouTube who will tell you to follow this strategy. Just keep accumulating because you don't have much time before the next halving.

How do you know it's your best decision so far? Honestly it's not all about buying Bitcoin with the intension of holding but how to make sure you Bitcoin is safe and holding for as long as possible.

There are newbies that bought Bitcoin when the price was $40k and because the price fell below $20k, they were panicking and was unable to keep there holdings because of fear of the market. You need to learn how to endure as you are holding your Bitcoin because many had started like this and have sold there holdings. You need to be strong to be a Bitcoin investor and you need to work on self discipline for you to make good profits from the market.

Congratulations mate on this amazing journey you have taken. I'm happy to see this forum has given you a great belief in Bitcoin to the extent of accumulating it. Electrum Wallet has become one of the most used Bitcoin wallets for storing Bitcoin, so I will advise you to go for "Electrum Wallet" until you see the need to use a hardware wallet. Since you are still storing your Bitcoin in a centralized exchange don't log your account on another phone that is not yours and avoid saving your password to your Google account to avoid being compromised. The next piece of advice I have for you is to mind the way you spend money in real life so that you will not run out of money and think of selling your Bitcoin to feed.

Buying at $40k and selling at $20k is a very stupid move. Selling at a loss because of panic the Bitcoin market continues to fall, even though Bitcoin is going down to rise to a higher price. Those like that are just beginners who want to make a quick profit, but when the price drops they panic and sell everything. No one will come back after selling it, if you can survive then you will get a lot of profit.

It's a nice idea that the OP purchased bitcoin, which I will commend him for that, but from the first thread that the OP created, he said he wanted to sell one of his phones, which he does not often use to invest in bitcoin. support, advice and wonderful opinion. (https://bitcointalk.org/index.php?topic=5466084.msg62812932#msg62812932). I don't really know if the OP already has a job or a source of income from which he is making money, if he does not, I believe that he might end up selling the bitcoin back whenever he needs money to take care of other things. Since the OP already sold the phone and has already invested in bitcoin, if he does not have any source of income, it's better he get one.

There's this parable that says that "drops of water can form an ocean." In a formal explanation, it means that something can be small, but when it remains consistent, it could become significant. Despite the fact that your first purchase is small, if you continue to invest in Bitcoin from now until before the bull market starts, then you might have accumulated a significant amount of Bitcoin in your portfolio. Also, make sure to prioritize your security and privacy because, in the crypto space, there are a lot of scam activities going on and hackers are always planning on whom to rip off their hard-earned investment from. Congratulations to you, OP.

You don't necessarily need to start with a big amount. like you said this is the first time for you to buy bitcoin and starting small is not a bad idea to get used to the market. Investing in Bitcoin is not about buying in larger amounts but buy according to the amount you can afford to lose. One of the best way to buy bitcoin is to buy in small amount,  accumulate it against the bull market.  If you wait to save money to buy in large quantity it can be stressful and which you may end up miss the opportunity of buying bitcoin.

Are you overly this excited or you’re just over exaggerating facts!

Well, I can say it’s a start for many good things yo come in your life and investment choices if only you could keep up with the plans you’ve got at this genesis stage of your taking up bitcoin investment. Better still, your in a forum with so many pro bitcoins and it happens to be the one place where you can get legit and unfiltered information as well as, get the courage to keep up with your plans on hodling by having your emotions strengthened.

It’s also an interesting thing to note that, the advices given to you weren’t just passive and you’re beginning to manifest it by virtue of this investment. Stick to bitcoin and don’t deviate from the plan, you would be appreciative of how far you’ve come I due time and then, you would be really excited of this step and it wouldn’t be exaggerated then.

Congrats, but you have to take more care to avoid loosing your coin. Purchasing bitcoin is not the only necessary  thing in the line, but also keeping it safe, and in a good custody. if your coin is at an exchange, make sure that it is a very reputable exchange. The best place all things being equal is private wallet outside an exchange. Additionally, avoid widespread of your information about your bitcoin or its wallet. You strongly need to ensure that everything about it is safe and secure, in order to get along.

You have done something great for investing in bitcoin at this bear market because it is a good decision that you have made. I hope that you keep your bitcoin safe from hackers and increase your bitcoin portfolio, so that you have make s good profit during the next bull run. It was good that you have listen to members in the on the advice of buying bitcoin now rather than later, because nobody knows what the price of bitcoin will be tomorrow. As you can see for yourself bitcoin price is now at 26k+.
Congrats mate.

Congratulations mate for your achievement.
I am not congratulating you because you bought some fractions of bitcoin;
I am congratulating you because you are happy at what you did;
I sense your level of happiness in buying Bitcoin;
Doing what makes you happy is the key to living a healthy life;
It is fine you understand the market and have decided to be buying with the DCA method;
Do not relent because the reward time(bull run) is near.

OP made the right decision by selling an old phone that was no longer used and bought some Bitcoins. I think that the result will inspire him and he will continue to sell unnecessary things and invest the proceeds in Bitcoin. But if he finds a good job for himself, his investment will be more significant than from the sale of old things.

Is this a 1 BTC or just portion of a BTC? well still congrats to your achievement welcome to the one of the hodlers in that investment you will experience all the things we've been through having into the cryptocurrency world, its ideal if you start accumulating a lot of different coins again not ideal all your investment are in just a single basket, also makes a plan with your investment and not just only you want to bought this, like for holding for long term until the next ATH, makes for payment, and etc. supported the service of the bitcoin. good luck to your journey.

congratulations to you, I am also doing the same thing now, setting aside some of my salary in the real world to hold long term in bitcoin. Hopefully the future of bitcoin is bright so that we become the next billionaires  ;D

Congratulations to you for purchasing your first Satoshi. You can continue buying more Satoshi at times like now because the price is still low. It's okay if you keep buying small amounts because you can have a lot of Satoshi by consistently buying at the end of the month and doing it for at least a year or less.

There will be a time when you can buy a Trezor hardware wallet and to buy it, you have to adjust to your budget. You still need to learn to be patient at this time because Bitcoin prices will still change, so you have to be able to manage your emotions when you see Bitcoin prices decreasing.

Many people also do the same thing as you. They regularly buy Satoshi so they can collect more Satoshi. And it is true that we are still given the opportunity to buy at low prices. For this reason, we must be able to make the most of it.

Congratulation on your first buy, moreover I think your timing to buy your first Bitcoin couldn't be better. I saw at least on the last couple of days, the Bitcoin price is recovering, currently 2.8% price increase for the last 7 days at the time when I write this reply based on coinmarketcap. I can't guarantee but I hope after your first purchase of Bitcoin you will see some profit.

I mean congratulations on buying your first satoshi it is actually a good thing that you already started accumulating Bitcoin at times like these since the market price at the moment is around 25k$ which is probably pretty low considering it was around 30k$ in the last few months. I would really recommend buying probably every month or every two weeks, you could get a small piece of your salary and invest it on Bitcoin, the market is sustained at around 25k$, so it is for sure a good time to accumulate because for sure when the market starts to get momentum, there will be a lot of movement in the market once the price reach 30k$ again especially if the Bitcoin halving event is already near.

Just remember to invest all of your money in cryptocurrency because it is still a very risky investment, never make this as an investment where you expect a return because that is just not going to end up well because you might just end up selling it on a low price or at a loss. Make sure to have multiple sources of income first and good savings so that you can survive and have enough money without thinking about your cryptocurrency investment.