My First Purchases of Bitcoin

[DaNNy001]

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which  is equivalent to 0.00032258 BTC and I am planning  to buy more. And I am investing for a long term investment. Happy  first purchase.
It is not easy for someone  to buy bitcoin  because  of the  bear  market at this time but I picked  courage  and bought it.

[Lucius]

Congratulations on your first BTC purchase, and I hope you will make many more in the future

What you need to know is that when you have a larger amount of BTC in your exchange account, you should consider transferring it to a non-custodial crypto wallet so that only you have control over your private keys. Such small amounts are simply not worth transferring, because the withdrawal/service fee may be higher than the amount you have now, so accumulate sats and in the meantime look for a non-custodial wallet.

[Welsh]

I'd recommend familiarising yourself with wallet software, potentially practice with testnet, because your priority will be getting that Bitcoin off the exchange, and into a wallet that only you own. Especially, in light of recent developments with FTX.

What you need to know is that when you have a larger amount of BTC in your exchange account, you should consider transferring it to a non-custodial crypto wallet so that only you have control over your private keys. Such small amounts are simply not worth transferring, because the withdrawal/service fee may be higher than the amount you have now, so accumulate sats and in the meantime look for a non-custodial wallet.

Unfortunately, the withdrawal costs basically forces you to keep on there, unless they're using an exchange with no withdrawal costs. If it's the latter, I'd say bugger keeping it on the exchange, and get it out as soon as possible, since this is your learning stage, and you don't want to be picking up bad habits for the future.

[drwhobox]

Good to see you here, and congratulation on your first step toward digital currency. Do keep in mind that a bearish market is perfect for buying so don't regret your decision, you make a right one.
A friendly piece of advice for you- if you buy more bitcoin to invest don't keep it on the exchange transfer them to your wallet, and gain knowledge about wallets, there are different types of wallets. I personally use a desktop wallet (electrum). Always do your own research before taking any action with your coins.

[Zlantann]

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which  is equivalent to 0.00032258 BTC and I am planning  to buy more. And I am investing for a long term investment. Happy  first purchase.
It is not easy for someone  to buy bitcoin  because  of the  bear  market at this time but I picked  courage  and bought it.

Its great to see that regardless of the bearish run, you still had the courage to invest in the Bitcoin space. Bitcoin might be facing a little challenge currently but I am very sure that it would bounce back. Your investment is a smart one and you wouldn't regret it. But I want to encourage you to be very patient because Bitcoin is not a get-rich-quick scheme that most ignorant people claim it is.

You must also ensure that you keep your investment safe and secret. Although these centralized platform cannot be trusted but you must ensure that you keep your phone and email password safe to avoid fraud. Also ensure only people you trust are aware of your investment to avoid been targeted by criminals that may think you have become wealthy. Yes, most people are unaware that Bitcoin can be bought in units. They feel that you can only buy it as a whole, which might make them feel that you can afford $16,869.12.     

[m2017]

Please accept my congratulations and welcome to the world of bitcoin. You will remember this moment forever with the first purchase of BTC.

What app did you use to buy it? This is the mobile version, right? It's amazing what you can buy even for a small amount of ~5$.

If you are planning larger purchases in the future (say, starting from $50), then don't be too lazy to test services like bisq or bestchange. You may find a seller with better conditions.

I wish you that the balance of your wallet, albeit little by little, but constantly grows and is always safe.

[Coin_trader]

That small amount coming from new holders is very important to make Bitcoin more stronger since it is distributed on different small wallets and not prone for manipulation. Crypto become shit pump and dump because of wallets that holding huge chunk of Bitcoin.

This movement is good if everyone will follow and do the courage to buy even with small amount while whales is unloading there coins. It's time for retail investors to purchase whale coins at discount price and not the typical scenario that retail buy at top and sell on bottom. Good job OP!

[Yatsan]

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which  is equivalent to 0.00032258 BTC and I am planning  to buy more. And I am investing for a long term investment. Happy  first purchase.
It is not easy for someone  to buy bitcoin  because  of the  bear  market at this time but I picked  courage  and bought it.

Good time to buy and it's good you are happy with what you did. Nevermind the amount; there's no big or small investment. The moment you've engaged to investments, it takes courage 'coz not everyone will do it for the sake of seeking profit. It is a small step to some but on another point of view, it is a big step towards profit seeking attitude or behavior. Continue learning new things; there are other ways to make your investment bigger, you just have to learn and choose which one would best suit you as an investor.

Also be open for ups and downs on your first investment. The nature of the market value of cryptos, is volatile. There are periods wherein a particular trend is evident which I believe you are aware already (hoping that you really are because it is the conflict for the new investors out there).

[Cantsay]

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which  is equivalent to 0.00032258 BTC and I am planning  to buy more. And I am investing for a long term investment. Happy  first purchase.
It is not easy for someone  to buy bitcoin  because  of the  bear  market at this time but I picked  courage  and bought it.

That's a great step Op, and I'm sure you will never regret the decision you just made.
You did a great job summoning up the courage to buy Bitcoin even in this current market condition.
Just keep hodling and you shall see the end result.

[Obari]

I was very happy to buy Bitcoin today . Since I am new in the crypto ecosystem I used $5.41 to purchase Bitcoin which  is equivalent to 0.00032258 BTC and I am planning  to buy more. And I am investing for a long term investment. Happy  first purchase.
It is not easy for someone  to buy bitcoin  because  of the  bear  market at this time but I picked  courage  and bought it.

Congratulations mate and welcome to the world of Bitcoin
We're both in this together and I want to assure you that you've done noble and it's a big win for you especially during this bear period.
I also want to encourage you to please buy more at every instance and opportunities you get because you will definitely benefit it from it when the bull run comes.
Also try as much as possible to not share your pass phrase.
Always try as much as possible to always take out some time to read and know more about Bitcoin as now you've invested some real money in it.
Kudos and I wish you success on your new journey.

[Lucius]

Unfortunately, the withdrawal costs basically forces you to keep on there, unless they're using an exchange with no withdrawal costs. If it's the latter, I'd say bugger keeping it on the exchange, and get it out as soon as possible, since this is your learning stage, and you don't want to be picking up bad habits for the future.

Is there a CEX that does not have a withdrawal/service fee? I heard that the one that just failed had that option, I just don't know if it was valid for everyone or for those who bought their tokens. I think the OP has no choice for now, but if he continues with investments and collects a significant amount (for him personally), he should ask for advice on which non-custodial wallet to choose - even a respectable desktop crypto wallet can serve well for smaller amounts.

[lovesmayfamilis]

Congratulations, OP! Even though your purchase came out for a small amount, the main thing is that the first step has been taken. Likewise, as a newbie, I bought a few dollars worth of bitcoin in 2018. Being a beginner, I did not know about all the intricacies of wallets and bought them through Web Money. And only after I began to study the forum deeper did I realize that I should not trust such wallets.
Even if bitcoin starts to rise sharply, your profit will not be big, but it is always nice to realize that you, although small, are already a bitcoin holder to some extent. Don't stop with your investments, and don't stop believing in bitcoin.

[Rruchi man]

Congratulations on your first purchase, although the amount is small, you can pick up from here and begin to use the strategy of DCA-ing to increase your portfolio. Starting something is usually the most difficult thing to do,  but as you have started, with some dedication you can keep it going with a little more discipline and in a little time your portfolio will greatly improve. As an extra advice due to the current situation in cryptocurrency, you should know that exchanges are not the place to store your bitcoin, and since you're making an effort to get bitcoins for yourself you should also make an effort to keep it safe.

[lionheart78]

Congratulation on your first purchase of Bitcoin, good thing you picked the courage to buy bitcoin because if you chickened out, you will be missing a huge opportunity.  I know there are lots of doubts running through the head of investors especially now that the price of Bitcoin had a huge crash but if they look at the history of Bitcoin, this crash is just one way for the market to open up an opportunity to the newcomer.  Eventually, the market will recover and you will find out that you didn't made a mistake jumping into the Bitcoin wagon.

[coinerer]

Congratulations for your first purchase of Bitcoin and your screenshots looks like you bought bitcoin from p2p trading and used fiat money . it is really a good time to bought bitcoin because now bitcoin in a huge dip and due to bad news of FTX exchange The prices of all coins, including Bitcoin, have fallen at an extraordinary rate.  But it doesn't seem that the price of Bitcoin can fall below 15k so this is a right time for you to buy Bitcoin even if you are new to Bitcoin. good luck for you op

[$crypto$]

A very brave step where beginners can buy bitcoins in a bear market while on the other hand there are those who say this is the right time to buy but beginners are certainly hard to do but you are brave with this step even though the value of your purchase is $ 5 but it will continue to grow in the future along with your courage to have long-term investment goals.

As suggested you don't store assets on exchanges as there has been a lot going on especially recently on FTX and use a hardware wallet if you have one or a wallet that has a private key that can be stored properly.

This is a good stage if you make regular purchases at low prices.

[serjent05]

Congratulations for your first purchase of Bitcoin and your screenshots looks like you bought bitcoin from p2p trading and used fiat money . it is really a good time to bought bitcoin because now bitcoin in a huge dip and due to bad news of FTX exchange The prices of all coins, including Bitcoin, have fallen at an extraordinary rate.  But it doesn't seem that the price of Bitcoin can fall below 15k so this is a right time for you to buy Bitcoin even if you are new to Bitcoin. good luck for you op

He can always DCA if the price of Bitcoin goes down.  The current crash of Bitcoin price enable the OP to buy more Bitcoin.  I think OP isn't new in the industry although it is his first time buying BTC, he has knowledge about what is going on since he has another thread that encourages his pastor to buy BTC, even saying that the pastor is under his guidance.  Here is the said thread: I Taught a Pastor Friend on Bitcoin.

Anyway, congratulations on your first purchase, I hope that will be the start of your Road to 1 BTC.

[Falconer]

A very brave step where beginners can buy bitcoins in a bear market while on the other hand there are those who say this is the right time to buy but beginners are certainly hard to do but you are brave with this step even though the value of your purchase is $ 5 but it will continue to grow in the future along with your courage to have long-term investment goals.

Obviously a bear market is one great opportunity for long term investors to take advantage of buying lots of bitcoins instead of buying them when the market recovers. A lot of people who bought for $50K will probably regret that during November 2022 the bitcoin price has dropped to its lowest point, they will really want to buy it again and I think they will if finances allow it.

$5 may not mean much, but it's a good first step to gaining some knowledge of how the market works. OP can increase his investment in the future for whatever he can afford to lose, main point is he did what we should be doing now.

[Quidat]

Congratulations for your first purchase of Bitcoin and your screenshots looks like you bought bitcoin from p2p trading and used fiat money . it is really a good time to bought bitcoin because now bitcoin in a huge dip and due to bad news of FTX exchange The prices of all coins, including Bitcoin, have fallen at an extraordinary rate.  But it doesn't seem that the price of Bitcoin can fall below 15k so this is a right time for you to buy Bitcoin even if you are new to Bitcoin. good luck for you op

He can always DCA if the price of Bitcoin goes down.  The current crash of Bitcoin price enable the OP to buy more Bitcoin.  I think OP isn't new in the industry although it is his first time buying BTC, he has knowledge about what is going on since he has another thread that encourages his pastor to buy BTC, even saying that the pastor is under his guidance.  Here is the said thread: I Taught a Pastor Friend on Bitcoin.

Anyway, congratulations on your first purchase, I hope that will be the start of your Road to 1 BTC.

Having learning with the basics should really be sufficient enough and this is the first step that he had done.Now that he had bought Bitcoin on small amount then pretty sure he would really be buying
even more on the future since he had already have the idea. Of course it would be always ideal on buying bitcoin when it is plumetting or decreasing or cheap because its never
been that good to enter when prices are on peaks.This is why the current market condition is the most ideal time or situation to get in.
Spreading out words about Bitcoin or overall crypto into someone is really a good thing to be done, spreading up awareness and recognition
is what we do all need to make this market even more higher.

[ajiz138]

Start small and in the future you can do even bigger after your first experience, because it's not enough to invest once in bitcoin, it takes several times, you can also apply the DCA strategy that I use and start buying every week it's okay even with a small nominal as long as you can be consistent with your long-term investment journey.

Many have said your courage, I also appreciate that you have taken steps forward so far. In the future, you can understand how the market works, prepare your mentality when the market is bearish, which is even worse, don't check prices frequently in the market, it will affect your psychologist towards investments made, just do DCA let it flow like river water.