Just got my first bitcoin, What is the next step? (noob question)

[bruxa]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

[asuryan180]

Well,the first step would be to download a wallet/go to blockhain.info and open a wallet there and store your BTC there.I think it is better to store it on your PC though so just download the BTC wallet,if you would prefer to have your BTC online go with the blockchain option.After you have transferred your BTC you can make sure that your wallet is secure enough and that's it.Also remember your private key so you don't end up with a wallet you can't access.

[bruxa]

will blockchain take a certain amount off me for using there service

[xskl0]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

A very good wallet is Blockchain.info

[xskl0]

will blockchain take a certain amount off me for using there service

Blockchain.info will take 0, its free. But you have to pay a fee (like every bitcoin transaction)                               

[achow101]

You should use any wallet that is listed here: https://bitcoin.org/en/choose-your-wallet. The website gives decent descriptions of the security and privacy of the wallet along with a brief description. The wallets listed here have to meet certain requirements in order to be listed. I highly recommend that you do not use blockchain.info (it isn't listed on that website for a reason). I highly recommend that you use Bitcoin Core if you are ok with running a full node (requires syncing the entire blockchain, which can take a while) or use Electrum if you don't want to deal with running a full node.

[Kemarit]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

You can check out this sub-board:

https://bitcointalk.org/index.php?board=37.0

those are alternative wallet aside from the Bitcoin Core. You can read about
every wallet out there and decide for yourself what wallet you are going to
used. But, I personally used electrum wallet though, I just created a standard
wallet and I'm ready to go, and because its fast and you don't have to download
the full node. Also, I think you also need how to secure your wallet by having a
password once you have installed it.

GoodLuck!!!

 

[rytyr]

Congratulations, you definitely got a Bitcoin faster than I did 
My goal is to get a bitcoin within one year. That is why I have already thought about how it will continue after the goal has been reached.
I would put half of the money into one account (cold wallet) and invest the other half.
I have decided to invest in promising altcoins and ICOs to try to generate a profit from it.
This is of course risky, but there is no profit without risk.
A small part of it I would also invest in betting, since I have a knowledge in an area appropriated and think that the chances are good to make a profit here as well.

[virusasog]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

Use any wallet which is preferable for you. I can suggest you to try with blockchain or coinbase wallet which is using vast by the people. Simply hold those amount for a year. It might change to double the value than double. Then try to improve your skills on bitcoin investments, technology and etc...

[Himanshu111]

Don't use or convert it into paper currency. Keep it with you and think of it as an investment. Give it time to mature so that it can produce returns.

[Idrisu]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

  you should open a free wallet with blockchain.info and transfer you earnings there as to me is much safer. If you are interested in trading you can transfer you bitcoin to your exchanger and begin from there. You can also increase your earning by investing in could mining site or lending it at bitcointalk from service section. Goodluck.

[jak3]

no that paxful.com is just a exchange where you got some money exchanged with other currency, after successfully having your first bitcoins i will advice you to step towards trading as because that is one of the worlds best and largest profitable place in the internet

[wintermeasures]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

If You want to Use that Bitcoins then you need to Firstly Create a Bitcoin wallet on Blockchain.info and after that you will get a Bitcoin address which is your key for Accepting Payments and after receiving Bitcoins into your wallet then you can use them for doing anything like Investing, Trading and buying online.....

[MWesterweele]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

First create a wallet ,then try to invest it in legit site it can have an interest slowly buy surely, be wise enough on the site you entering, because when the site hacks your account it will cause you a problem. It can even take your whole money, even your personal info. but if you want you may deposit it in banks it is safer there

[BurstIncomeAsset]

next step is HODL and find a way to get another bitcoin

then repeat forever

[sotisoti]

Just store it in a wallet, do what you do, and come back after 5 years...

[grosminer]

Be sure your wallet is safe.. when i started using BTC a few years ago, the HD where i had the files crashed so i lost a few btc..
Learn about wallets options: Paper wallet , hardware wallet etc..

[RodeoX]

The 2 most important things you can do:

1. Move the bitcoin to a wallet under your exclusive control. Right now you really do not own any bitcoin. Wallets contain the private keys used to spend. If you use an online wallet you may be sharing those keys or not have access to them. If the website closes tomorrow "your" money is gone. You want to be the only person on earth to have those keys.

2. Make several backup copies of your wallet!! If there is only one occurrence of your wallet then there is a big risk that it will be lost, stolen, corrupted, etc. In that case there is absolutely no way to recover your coins. Keep your backup safe. Copy it to three thumb drives and put one in the bank, one buried in the back yard, one mailed to your Aunt in Vermont.

[metokr]

Can you please tell me briedfly what hard ware wallet is ? Is that really a hardware to keep BTCs in ?

[bohr]

So a guy gave me some bitcoin thru a website called paxful.com i have the bitcoin money on there know i have no idea what to do. i have read stuff about bitcoin wallets, should i get a wallet or is the website paxful.com a wallet?

A very good wallet is Blockchain.info

It is better to have exclusive control over our coins so a web wallet should not be an option especially since he is a newbie in the world of bitcoin and will probably choose a weak password to protect his coins.