About to buy my 1st Bitcoin

[OROBTC]

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?    

Much of the above advice is excellent.  I would not store my BTC at coinbase, at least for long.

The safest way that is "pretty easy" would be to buy a "hardware wallet".  I use and like both the Trezor and the Ledger Nano, but there are newer ones available too.

https://www.bitcointrezor.com/

https://www.ledgerwallet.com/

Of course you can buy them w/ BTC!  

LiteCoinGuy has a big and useful thread re hardware wallets: https://bitcointalk.org/index.php?topic=899253.0  It's a long thread but worth reading.

[Ryananda]

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

I want to ask you, how payout of coinbase? I have 20,000 Satoshi there, but I can not move into my bitcoin address.
Mugkin you have any suggestions for me? I really need help, maybe I do not understand how to use it or how I need help

[HabBear]

Has the OP ever responded to this thread?

A lot of good advice here. Ask yourself this question: if you had $450 would you keep it in a bank or in your pocket/at home as cash? If your answer is "in a bank" leave it with Coinbase...

The only difference between Coinbase and a fiat bank is that Coinbase doesn't offer loans, that's it.

[angaper]

What a way to plan your investments!  Firstly you buy a bitcoin, and secondly you ask what to do with a bitcoin! It is a perfect example of emotional investment, and I would recommend you a better planning in your next decisions.

[lixer]

What a way to plan your investments!  Firstly you buy a bitcoin, and secondly you ask what to do with a bitcoin! It is a perfect example of emotional investment, and I would recommend you a better planning in your next decisions.

Well said!! Before investing into a new venture, one must first be aware about all the technicalities regarding it. Buying a bit coin and then thinking of its use is of no benefit. Only those can earn profit by trading with btc who are well experienced and knowledgeable.

[WhatTheGox]

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

What is everyone's advice?   

Make sure you hold some forever, could be the best use of you time vs your whole working life.

[Nameless Coin]

Buy your coins and don't make the same mistake i did.
The mistake i was to think i am am stock broker and i could earn by surfing the waves of the market.
Guess not you need more experience for that.

[Blue_Tiger73]

You should store you bitcoins on your desktop PC. Download a wallet and style your coins there. You can do whatever you want work your coins, don't ask us. Everyone has their own opinion.

[EdenHazard]

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?   

for beginners in bitcoin, you take a risk by buying bitcoin in large enough quantities, and reasonable if you are confused as to what you will do, in my opinion, you should keep it for some time, and I am sure you will make a profit in the near future this, because bitcoin prices continue to rise, but if you want to shopping  oor buy something with bitcoin, you do not have to worry about security in coinbase, there is completely safe if you apply maximum security.

[Blue_Tiger73]

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?   

for beginners in bitcoin, you take a risk by buying bitcoin in large enough quantities, and reasonable if you are confused as to what you will do, in my opinion, you should keep it for some time, and I am sure you will make a profit in the near future this, because bitcoin prices continue to rise, but if you want to shopping  oor buy something with bitcoin, you do not have to worry about security in coinbase, there is completely safe if you apply maximum security.

I have been using coinbase for a long time and it is very safe. You can keep you coins in coinbase, or if you want even more security, you can download a desktop wallet.

[agustina2]

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?   

for beginners in bitcoin, you take a risk by buying bitcoin in large enough quantities, and reasonable if you are confused as to what you will do, in my opinion, you should keep it for some time, and I am sure you will make a profit in the near future this, because bitcoin prices continue to rise, but if you want to shopping  oor buy something with bitcoin, you do not have to worry about security in coinbase, there is completely safe if you apply maximum security.

I have been using coinbase for a long time and it is very safe. You can keep you coins in coinbase, or if you want even more security, you can download a desktop wallet.

There is no harm trusting that wallet exchange. Some are just overacting. They are under in legal terms. Yes, it's not an assurance that they are 100% secure but if you are doubting then just keep a small portion of it. I really like the comfort that Coinbase giving to it's users.

[kyrios_]

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

I want to ask you, how payout of coinbase? I have 20,000 Satoshi there, but I can not move into my bitcoin address.
Mugkin you have any suggestions for me? I really need help, maybe I do not understand how to use it or how I need help

u can send it directly to your address from your coinbase account

[Rastanan]

You should store you bitcoins on your desktop PC. Download a wallet and style your coins there. You can do whatever you want work your coins, don't ask us. Everyone has their own opinion.

I do not have any bitcoin yet. I will start using bitcoin core client, and buy small amount of bitcoin later.

[Xialla]

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

sadly, you just hit the nail..because there is nothing so special, what you can do only with bitcoin. so I recommend to print paper wallet and hodl:)

[QQ88]

Good job friend. Don't gamble with the BTC you buy and you're all good

[kyrios_]

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

sadly, you just hit the nail..because there is nothing so special, what you can do only with bitcoin. so I recommend to print paper wallet and hodl:)

well you can just feel proud that you're part of a revolution

[Sir_lagsalot]

Coinbase tends to have this dodgy ~1 week delay before sending you your coins, regardless of whether the transaction was totally legit or not. I do like their prices, they're much less compared to exchanges' huge 5% fees, and the hilarious 7.5%+ fees on localbitcoins. If only there was a 0% fee service... I would be in totall heaven. Maybe bitcoin might go up if that site went up xD

[bob123]

Get a wallet on your desktop pc.. but make sure its not infected by malware.
Then store them there and do whatever you want with your money

[ausbit]

Coinbase tends to have this dodgy ~1 week delay before sending you your coins, regardless of whether the transaction was totally legit or not. I do like their prices, they're much less compared to exchanges' huge 5% fees, and the hilarious 7.5%+ fees on localbitcoins. If only there was a 0% fee service... I would be in totall heaven. Maybe bitcoin might go up if that site went up xD

Yes some improvement need to be done but still it is easy to transfer Bitcoin when compared to fiat currency through any exchange. But I have few traders who do the job so smoothly and they are trustable source to trade anytime . Always don't go for cheap rate because reputation and transactions should also be there

[Ceizer54]

If you plan to keep it safe next 5 -10 years then store it in offline wallet coz you can never be sure if the online wallet will stay for that much time..and you can do anything with your btc as it's your money so the choice is always yours but storing locally is pretty safe idea