About to buy my 1st Bitcoin

[BellaBitBit]

Congratulations.  I have had no issues with Coinbase and i felt comfortable making my first purchase through them.

[Bit_Happy]

Start day trading alt coins tonight, and you will make 4x your money within a week or two! 
Seriously: With some experience and luck, you really can make good money... Be careful.

[Ryananda]

Save in the long term in coinbase or so I feel less secure.
Because I was afraid my account in coinbase hacked by the irresponsible and futile.
Why not saved any direkening your bank?

[ranochigo]

Since you bought it in coinbase it's not bad to hold there.
Maybe you will start trading one day and there you can easily trade.
But also transferring to another wallet desktop or hardware it's better.

Why transfer to a wallet desktop? isn't coinbase pretty safe

Coinbase is safe but not safer than a desktop wallet. Malware can still steal your Bitcoins even with 2FA if the attacker does it in real time, within seconds. For desktop wallet, it is the same, you don't have to worry about Coinbase being down due to an attack. As long as you don't download any suspicious program, there is next to no risk of getting a malware on your computer.

[hasiramasenju]

Finally!  I have found an easy way to buy bitcoin.

Someone introduced me to coinbase.  I signed up to it and i entered my banking details.

I uploaded 400 dollars to my usd account, and now i am finally going to purchase my first bitcoin.

I am very happy about this.  It's about time i can easily buy bitcoin from my bank,


So my question is:   Once i buy my first bitcoin, what exactly do i do with it?


Do i leave it in my coinbase account?  Is it safe there?

Or do i transfer it to my desktop computer?


I'm not familiar with this yet.   I plan to always keep a balance of 1 bitcoin in my account for 5 years to 10 years,

the rest of the bitcoin i buy i will spend online.



What is everyone's advice?   

save your bitcoin into your coinbase account it's safe but i think not good for save your bitcoin in the exchange for long term and if you want to keep your bitcoin for next 5 or 10 years i think the good way is transfer to your desktop computer

[AncilVTwo]

its pretty safe on the coinbase wallet as long as you dont leak out your log in info to a virus or something. or if coinbase gets mtgoxed.

[kyrios_]

Since you bought it in coinbase it's not bad to hold there.
Maybe you will start trading one day and there you can easily trade.
But also transferring to another wallet desktop or hardware it's better.

Why transfer to a wallet desktop? isn't coinbase pretty safe

Coinbase is safe but not safer than a desktop wallet. Malware can still steal your Bitcoins even with 2FA if the attacker does it in real time, within seconds. For desktop wallet, it is the same, you don't have to worry about Coinbase being down due to an attack. As long as you don't download any suspicious program, there is next to no risk of getting a malware on your computer.

are malwares able to steal from desktop wallet

[angaper]

What to do with your bitcoin? Well, when someone decides to invest his money it should be a must to plan previously this issues, my friend. A smart investor always should analyze comprehensively his options, targets and methods to get them, but it seems you have invested emotionally.

[ranochigo]

Since you bought it in coinbase it's not bad to hold there.
Maybe you will start trading one day and there you can easily trade.
But also transferring to another wallet desktop or hardware it's better.

Why transfer to a wallet desktop? isn't coinbase pretty safe

Coinbase is safe but not safer than a desktop wallet. Malware can still steal your Bitcoins even with 2FA if the attacker does it in real time, within seconds. For desktop wallet, it is the same, you don't have to worry about Coinbase being down due to an attack. As long as you don't download any suspicious program, there is next to no risk of getting a malware on your computer.

are malwares able to steal from desktop wallet

Yes. I said it on my post. However, malware also have the potential of stealing from the coinbase wallet and would thus be the same as a desktop wallet and insurance will not cover it at all. Especially if the user selects trust the computer after entering the 2FA. What I'm saying is that desktop wallets are better since they are never down and gives access the full access.

[Amph]

Since you bought it in coinbase it's not bad to hold there.
Maybe you will start trading one day and there you can easily trade.
But also transferring to another wallet desktop or hardware it's better.

Why transfer to a wallet desktop? isn't coinbase pretty safe

Coinbase is safe but not safer than a desktop wallet. Malware can still steal your Bitcoins even with 2FA if the attacker does it in real time, within seconds. For desktop wallet, it is the same, you don't have to worry about Coinbase being down due to an attack. As long as you don't download any suspicious program, there is next to no risk of getting a malware on your computer.

are malwares able to steal from desktop wallet

only if you permit it, and download random exe, otherwise desktop wallet is more secure than any other wallet, butc oinbase come with insurance, so even if they steal you you are covered up to 100k i think, if i'm right...

[gkv9]

What to do with your bitcoin? Well, when someone decides to invest his money it should be a must to plan previously this issues, my friend. A smart investor always should analyze comprehensively his options, targets and methods to get them, but it seems you have invested emotionally.

You should know that when it comes to investing into anything, the first thing that comes into consideration is "sentiments", so can you clarify the difference between sentiments and emotions???

I guess both are same...

To OP, congratulations on buying your 1st coin...
Meanwhile, just wait and watch the markets everyday because there are surprises to come...

[bieberluvr]

Finally!  I have found an easy way to buy bitcoin.

Someone introduced me to coinbase.  I signed up to it and i entered my banking details.

I uploaded 400 dollars to my usd account, and now i am finally going to purchase my first bitcoin.

I am very happy about this.  It's about time i can easily buy bitcoin from my bank,


So my question is:   Once i buy my first bitcoin, what exactly do i do with it?


Do i leave it in my coinbase account?  Is it safe there?

Or do i transfer it to my desktop computer?


I'm not familiar with this yet.   I plan to always keep a balance of 1 bitcoin in my account for 5 years to 10 years,

the rest of the bitcoin i buy i will spend online.



What is everyone's advice?   

Don't do it brother!
http://imgur.com/4vfaIBy

[LFC_Bitcoin]

It's your 'money' and you can do whatever you want... why are you asking here what should you do with your BTC?

He's just looking for some advice buddy. As a newbie that's what we all wanted wasn't it? Nothing wrong with asking for advice on here is there, we're a pretty good community on the whole.

[bit22gen]

Here is a description of cold wallet storage:

Bitcoin 101 - Intro to Paper Wallets & Cold Storage:

https://www.youtube.com/watch?v=I1uefzJJ6nM

[amacar2]

Its better to invest your coins if you like to earn more coins withing that 5 years but if you can afford to buy more periodically keep on buying and store. You may be happy to see the price after 5 years. Good luck

[lolgato]

I would say leave it there in your wallet but if you're feeling risky you can invest it but only if you take the risk

[fr4nkthetank]

nice!  good job, now create a paper wallet while offline and take that paper wallet to your bank, or a safe place.  create a copy to put somewhere and also keep copies on USB keys too.  Not all at the same place, so if your house burns down well you dont lose it all.  that is the safest, but kinda complicated.  I wouldnt worry too much about coinbase, but one rule is that you never keep what you dont trade on an exchange.  never.  ever.  ever.

[thejaytiesto]

nice!  good job, now create a paper wallet while offline and take that paper wallet to your bank, or a safe place.  create a copy to put somewhere and also keep copies on USB keys too.  Not all at the same place, so if your house burns down well you dont lose it all.  that is the safest, but kinda complicated.  I wouldnt worry too much about coinbase, but one rule is that you never keep what you dont trade on an exchange.  never.  ever.  ever.

It's that complicated, also don't forget to use BIP38 on your paper wallet so you can have it all nicely encrypted, you know just in case someone finds the paper which is pretty easy unless you live alone and know no one will be around. I think it's insane that some people out there are using private wallets without encrypting them first, just hoping that no one finds it.

[spirit of btc]

After buying bitcoin download a Wallet and transfer the coin to the wallet.
I would recommend you to use Multibit wallet.

[joe101]

Just a week with coinbase and my account was closed!



please see this thread!

https://bitcointalk.org/index.php?topic=1278463