About to buy my 1st Bitcoin

[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?   

You can stored it in Coinbase. Well no harm if you trust that exchange. If you will circulate it much better if it's on that wallet rather than in a offline wallet to prevent hassle. They will not run your 400usd amount of bitcoin as it's only 1% of their entire income lol.

Good thing your country is supported by Coinbase. I like to do buy/sell in coinbase as it have better rates than my usual exchange site but unfortunately our country is not in the list of supported countries.

[USB-S]

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?    

You can stored it in Coinbase. Well no harm if you trust that exchange. If you will circulate it much better if it's on that wallet rather than in a offline wallet to prevent hassle. They will not run your 400usd amount of bitcoin as it's only 1% of their entire income lol.

Good thing your country is supported by Coinbase. I like to do buy/sell in coinbase as it have better rates than my usual exchange site but unfortunately our country is not in the list of supported countries.

Where do you live? Does you perhaps have a bitcoin atm near you? Maybe some other exchange?

However congratulations op for joining the club. I wish you a long hold with many profits.
Just to be safe you I would store that bitcoin in a cold wallet.

[Altcoinmoney]

Sounds good, I would advise to get as much bitcoins as you can and the bitcoins you don't use, keep them safe in an offline wallet

Make sure to make back ups as well

[Mickeyb]

Coinbase isn't very safe, if you ask me. Use bitcoin-qt or electron. Pretty much the best out there. Only just coinbase if you're poor and don't have anything to lose and you want to use them so they can post your transaction fees

I never keep over a bitcoin in my coinbase account, let me tell you that.

AFAIk coinbase is safe enough as an exchange, because they have insurance that cover your funds, not like other exchange, and they are directly regulated with IRS

so if you really want to store online, they should be your first choose, betetr than blockchain.info for sure

For an online wallet like Coinbase, up to 1 BTCs would be a maximum that I would store in it. 1 bitcoin is not that much of money and for some non-technical people it's much easier to just leave it in Coinbase than to go through all the trouble of learning and setting up their own wallet.

As long as you don't send your funds to the online gambling sites, etc, Coinbase is good enough I guess up to 1 BTCs.

[DashCoinDark]

Nice that you are buying your the first time 1 bit[Suspicious link removed]d luck having it.

If you are planning to purchase something, becareful with scams.

[agustina2]

Where do you live? Does you perhaps have a bitcoin atm near you? Maybe some other exchange?

However congratulations op for joining the club. I wish you a long hold with many profits.
Just to be safe you I would store that bitcoin in a cold wallet.

There's an other exchange here but I want to try the Coinbase system as I see it has better rates. So the process will be Coinbase Exchange then Cash it out to our local exchange.

For an online wallet like Coinbase, up to 1 BTCs would be a maximum that I would store in it. 1 bitcoin is not that much of money and for some non-technical people it's much easier to just leave it in Coinbase than to go through all the trouble of learning and setting up their own wallet.

As long as you don't send your funds to the online gambling sites, etc, Coinbase is good enough I guess up to 1 BTCs.

There you go. Some are just overacting that even a 1000 satoshis are required to store in an offline wallet. Its fine for holding job but for circulating much better to use online wallet.

[Mickeyb]

Where do you live? Does you perhaps have a bitcoin atm near you? Maybe some other exchange?

However congratulations op for joining the club. I wish you a long hold with many profits.
Just to be safe you I would store that bitcoin in a cold wallet.

There's an other exchange here but I want to try the Coinbase system as I see it has better rates. So the process will be Coinbase Exchange then Cash it out to our local exchange.

For an online wallet like Coinbase, up to 1 BTCs would be a maximum that I would store in it. 1 bitcoin is not that much of money and for some non-technical people it's much easier to just leave it in Coinbase than to go through all the trouble of learning and setting up their own wallet.

As long as you don't send your funds to the online gambling sites, etc, Coinbase is good enough I guess up to 1 BTCs.

There you go. Some are just overacting that even a 1000 satoshis are required to store in an offline wallet. Its fine for holding job but for circulating much better to use online wallet.

Honestly I was one of those, but lately I came to realize that for some people especially that really not so tech savvy, holding little sums in one of those online wallets shouldn't be the end of the world. Learning how to secure other wallet for a computer illiterate person is more hassle than just trusting a Coinbase.

After all, you are risking about $350 if you store 1 btc in Coinbase. I carry very, often more in my wallet and this is much riskier than to store up to 1 btc in Coinbase.

[richardsNY]

Here we go, first impression to know bitcoin and they don't know what to do. Its often happened, confuse what should i do with this coin etc etc some people know bitcoin as investment plan only. Do your own research about bitcoin and decide what have to do.

There are a lot people in this world. And all of them are different. One is reading and learning a lot about Bitcoin before actually purchasing their first bits. And the other is buying now and is later figuring out what to do with them. Everything around Bitcoin can be found on the net. It just requires simple searching terms to find the information you are looking for.

[adicted]

Congratulations and welcome to the bitcoin world. If you are planning to hold bitcoins for a long time, I highly suggest that you should not store it on an online or web based wallet 'cause of the risks. There are no guarantees that a certain web based site will stay for years, and if they're gone, your coins will be gone along with them. A desktop wallet will be good, a hardware wallet will be better.

[Laila10]

My suggestion is find any offline bitcoin wallet then backup the wallet.dat whatever you place it's.. I think it's more safer than any other online wallet..

[Dissonance]

Honestly this is why bitcoin needs a steve jobs.  Someone who can reign in the nerds and help take a new tech in a more user friendly direction.  Bitcoin isn't going mainstream until its as easy to use as a gmail account.  Steve understood that about tech, it has to work like an appliance.  If users have to configure anything or download a 50GB file its not catching on.

[AncilVTwo]

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?   

if you have stuff like 2fa enabled on your coinbase account and feel very secure with it. storing it on their wallet is fine. but if u plan for leaving it for 5-10 years go witha  paper wallet just to be safe.

[CryptoBjorn]

Lucky you that you can afford it, that is funny "I upload 400 dollar in my account".

Upload for me is some files uploading.

But have fun with your first bitcoin.

[tiggytomb]

I think Coinbase is probably your best option for now as you have just joined the bitcoin arena but make sure you turn on the 2FA on your Coinbase account. 

Once you spend a bit of time on the forum and learn a bit more about the different options available to you you may decide to invest some of your bitcoin in which case it will be there instantly available in Coinbase for you to transfer.

If you do somehow come into a lot of bitcoin try not to keep it all in the one place especially not on an exchange such as bitcoin, if you do have a lot in the future it will be definitely worth you looking into offline / cold storage for long term holding.

[Newcoins2020]

Lucky you that you can afford it, that is funny "I upload 400 dollar in my account".

Upload for me is some files uploading.

But have fun with your first bitcoin.

Hahaha, I know right

If only it was that easy for all of us, we could all just upload whatever we own and buy bitcoins

[ShrykeZ]

I would now personally store it on a paper wallet unless you have plans to use it now for exploring the bitcoin world.

[randy8777]

that's nice. keep them secure offline and start reading properly about everything. that's the best possible way of learning everything. if you see the high potential of bitcoin, you won't even think about investing it in anything. you just want to hold it

[traderbit]

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.

[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

[Patatas]

Don't leave it there .It might be rusty and die .Rather send it to my account ,I will actually use to gamble and then lose and then tag you in the thread hers whinning avout it .jokes only . I will double it for you on some fake ponzi or hyip .Deal ? No ? Better then have it rusting in its place !!