Investing in Bitcoin with Tiffin money of my college life.

[maydna]

Congratulation to you. You now have BTC, and you can save more money and continue investing in bitcoin. But you need to determine how much money every time you will use to invest in bitcoin, so it doesn't interfere with allocating funds to other places. And remember always to set limits on investing in bitcoin. The point is that you determine how much money you use to invest and do it regularly every month and for how many years you want to invest your money into bitcoin.

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[Fivestar4everMVP]

I am very happy to buy Bitcoin for the first time in my life. My dream from my school life was that I would invest in Bitcoin in the future and started saving money from my school life. I saved some money from the many tiffins and various tuitions I earned during my college life and finally invested in Bitcoin. And I have fulfilled my past dream today by investing in Bitcoin.
Right now I Buy BTC0.00688 BTC which is some amount of $163 when converted to USDT.
I have invested as much as I can in this current market in Bitcoin. and I hope to save more money and invest in Bitcoin in the future.

A big congratulations to you mate, but i want to believe that by now, you must have withdrawn your bitcoin out of binance exchange into a wallet you control the keys, Always remember that "Not your keys, not your Bitcoin, never leave your investment for your future in the hands of another man, and this particular instance, CZ, no crypto currency exchange is secure enough.

This is is you haven't, download wallet like Electrum, or Mycelium, generate your bitcoin address and withdraw your bitcoins from Binance to the wallet, and remember to keep your keys in a safe place where no one else other than you can see or have access to it.
Goodluck and welcome to the club of bitcoin holders.

[karabiber]

First of all, i share with you the joy of making your dream come true and congratulations on investing in bitcoin. If you are investing in Bitcoin i think that the amount you make does not matter. No matter how big or small your investment is your investment in bitcoin will return to you many years later.

If you started investing with small amounts the continuity of the investment is important. Be sure to invest in Bitcoin even if it is in small amounts. Lastly don't leave your balance on exchanges and use a cold wallet. Remember that exchanges will always pull the plug and will disappear.

[kamvreto]

5. You're no difference from someone using a bank because everything you do under a centralized exchange is from a central authority like the banks and other centralized institutionizations did.

Banks are better because they are likely to protect your fiat than exchanges will protect your coins. There can be robbery in your bank, you can go to another branch the next day to deposit or withdraw, you can make use of their online banking, this is the way banks operate in my country, but if an exchange is hacked, your coins are gone or inconveniences may occur.

That is good advice, banks are definitely better than centralized exchanges. There are some people who may not like banks, but they do like centralized exchanges. even though the thing that both of them did was the same, asking KYC to be able to use it. But it would be better to use a bank because Fiat funds will be safer than a centralized Exchange which does not have full control and if hacked there are no guarantees. We still depend on Fiat, but we also have to use crypto smartly.

Then regarding Op's thread, I support he investing in bitcoin, but not by saving it. Use safe storage, even all the members here advise you to store your personal bitcoin wallet because CEX is still very vulnerable.

[lizarder]

I have invested as much as I can in this current market in Bitcoin. and I hope to save more money and invest in Bitcoin in the future.

You have done the right thing, no matter what amount you take to start with, it will look good if you continue to consistently increase your investment in bitcoins. However there are a few things you should know, besides being able to provide great returns, bitcoin also comes with risks, this should be a basic consideration before you get started and shouldn't be a problem once you learn about bitcoin before investing. PMy advice to you, never store bitcoins long term on any exchange.

It's best to store bitcoins in a secure wallet and have full control of the private key, as described by theymos HERE. This effort is to limit and protect the assets you have if you intend to keep assets in the long term.

[South Park]

First of all, i share with you the joy of making your dream come true and congratulations on investing in bitcoin. If you are investing in Bitcoin i think that the amount you make does not matter. No matter how big or small your investment is your investment in bitcoin will return to you many years later.

If you started investing with small amounts the continuity of the investment is important. Be sure to invest in Bitcoin even if it is in small amounts. Lastly don't leave your balance on exchanges and use a cold wallet. Remember that exchanges will always pull the plug and will disappear.

It is also crucial for anyone which is just beginning to invest in bitcoin or is thinking about doing it to avoid altcoins until they get more familiar with the market, I say this because as soon as anyone gets into this market they get bombarded by ads about how they can make more money with them, but what those ads forget to mention is it is many times more risky to invest in them, and the majority of the new participants of this market are not ready to invest in altcoins.

[The Cryptovator]

I appreciate your efforts in obtaining Bitcoin investments. In fact, earning money while attending school is difficult. Since we are completely dependent on our family, there may be more problems if we are not much rich. But it appears that you hardly loved Bitcoin and were able to invest in it. Your decision to set aside money from your tiffin money and put it in bitcoin strikes me as wise. You appear to be purchasing Bitcoin through Binance. But if you're holding your money in Binance, try using a non-custodial wallet instead. On the centralized exchange, we have witnessed a lot of drama. Save the money you worked so hard for. Go to the forum more often and learn more.

[Leviathan.007]

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First, I wanted to say that I'm happy to see someone is using the money from college as the best way to invest in something instead of spending whole money buying unable stuff which is what people mostly do during this time in college life period, also I wish you good luck holding these bitcoins for the long term because if you do that you will definitely get the benefits from it and this 163 dollar can get you more if you believe in bitcoin. But As I can see you are holding the bitcoins in Binance which is an exchange, don't forget that exchanges are not made for you to hold the assets there, so I suggest you withdraw the bitcoins and hold them in a private wallet where you can have your private key.  

[Distinctin]

Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.

That is also my concern as OP is clearly trusting an exchange that will never be reliable at all times. So as early as now OP, move it to your own non-custodial wallet so that your privacy and security will be more possible. However, I am happy that you are now starting to live your dream. I just hope that you are doing DYOR first and gain sufficient knowledge in bitcoin investment before your start taking the risk of investing in bitcoin.

[Russlenat]

Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.

Exactly what I wanted to say.

If you value your money, then do not leave it in the hands of someone who is not you. And do not leave it in a wallet, like that of an crypto exchange. Because the reason is that you would not be the only person who has access to that wallet. In the case of crypto exchanges, you are trusting them with your money. This goes against the very nature and concept of cryptocurrency, which is TO BE YOUR OWN BANK.

But people still do it. And they think nothing bad will happen to them until it finally does happen.

For amateurs like OP, it’s understandable that they would likely to trust centralized exchanges than their own wallet but until they start losing, that’s when they realized that exchanges are not safe at all. So hopefully, you should create your own wallet OP so you can have the full control of your own money. That way, when that exchange will be hack or whatever in the future who knows, your funds will never get lost from you. You should have thought that before trusting an exchange.

[Vaskiy]

Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.

Exactly what I wanted to say.

If you value your money, then do not leave it in the hands of someone who is not you. And do not leave it in a wallet, like that of an crypto exchange. Because the reason is that you would not be the only person who has access to that wallet. In the case of crypto exchanges, you are trusting them with your money. This goes against the very nature and concept of cryptocurrency, which is TO BE YOUR OWN BANK.

But people still do it. And they think nothing bad will happen to them until it finally does happen.

For amateurs like OP, it’s understandable that they would likely to trust centralized exchanges than their own wallet but until they start losing, that’s when they realized that exchanges are not safe at all. So hopefully, you should create your own wallet OP so you can have the full control of your own money. That way, when that exchange will be hack or whatever in the future who knows, your funds will never get lost from you. You should have thought that before trusting an exchange.

This is his first purchase and it takes little time for him to understand and move funds to the non custodial wallets. Centralized exchanges provide the ease of buying bitcoin, maybe that's the reason why new entries into crypto space prefer centralized exchanges. Small purchase and this needs to continue to experience big things out of bitcoin growth.

[Issa56]

Congrat, you have really done well, but I think you shouldn’t disclose your wealth on public, you can remove the screenshot which you just posted or you can blur some part of your screenshot so that the amount you are holding won't really be showing.

I noticed you purchased your bitcoin from binance exchange, and you didn't talk about transferring your coin to a Non-Custodial Wallet, don't leave your coin on exchange, Binance is a reliable exchange but don't leave your bitcoin their, no exchange can be trusted, anything can happen to the exchange at any moment, make sure you withdraw your coin from the exchange.

[dothebeats]

Better keep it some place safe. While I never had any problems with Binance for years, you'll never really know when shit hits the fan. Anyway, congrats on your first purchase! Sometimes all we need is a leap of faith in order to get things where it should be. Right now, the only things you need to do is take the money out of that exchange and kinda forget about it. Focus on what you need to do and come back to it after a year or two. That's what most of us here usually do and it never failed me just yet.

[Fatunad]

Better keep it some place safe. While I never had any problems with Binance for years, you'll never really know when shit hits the fan. Anyway, congrats on your first purchase! Sometimes all we need is a leap of faith in order to get things where it should be. Right now, the only things you need to do is take the money out of that exchange and kinda forget about it. Focus on what you need to do and come back to it after a year or two. That's what most of us here usually do and it never failed me just yet.

If you are going for long term then better not to mind off about year or two when pulling your profits and it would be depending according into someones preference on when they would be taking up such decision.,
Exchangers cant really be trusted or whatsoever custodial wallets which you could make use.Nothing beats out those non-custodial ones which means you do possess its keys and there's no way that it could be
taken from you forcefully.Unless if you do expose those keys or you've been hacked which had been always the risk.It is really good that theres someone who do see the potential and despite on being a student
he do able to save up and buy at least in small portions.

[worle1bm]

So happy to see that you have invested your savings into bitcoin but always focus on what others above are saying to you about keeping your funds on these exchanges which will help you a lot in security of your amount invested.But still it's a good move and wise step towards financial revolution with btc.

You are to good my friend. I happy for you for your investment. This time BTC Price is so down. I hope BTC give you such a good profite in future I pray for you and pray for every little investor. Like Student or Part Time Job in crypto for increes their invest. I appriciate you. I hope your future is bright for invest in future with crypto.
good job my friend.

Yes at this time the prices are low but if you are planning to hold it for long term then only you can have sufficient returns because as a student if we invest and see our savings going down we feel panic to sell it.

[ethereumhunter]

Congrats @OP. After your first bitcoin purchase, I hope you can start buying bitcoins regularly again and save them for your future. But remember not to exceed or only use the money you can afford and always put your personal needs first before you buy any more bitcoins. Make bitcoin your investment tool and keep your bitcoins in a wallet that only you know. You also don't need to tell the people around you about how many bitcoins you have because that is your personal secret.

[Henrobakkara]

Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.

Right. I have seen a couple of such kinds of posts about new investors into Bitcoin lately and most of them never mention how they have secured their Bitcoin investment by moving it from exchange wallets to any none custodian wallets which is also the first thing you should consider while investing in Bitcoin.
Anyways, I believe OP has made a significant step by being able to make this first investment, and hope you will be able to hodl on considering what can happen with the market price which is also very important with investment.

[TribalBob]

congratulations on buying your first btc coin, tips never leave your assets on the exchange because as we know there have been many unpleasant and detrimental incidents of storing assets on the exchange

[Viscore]

5. You're no difference from someone using a bank because everything you do under a centralized exchange is from a central authority like the banks and other centralized institutionizations did.

Banks are better because they are likely to protect your fiat than exchanges will protect your coins. There can be robbery in your bank, you can go to another branch the next day to deposit or withdraw, you can make use of their online banking, this is the way banks operate in my country, but if an exchange is hacked, your coins are gone or inconveniences may occur.

That is a worst thing if you trust exchanges that will never guarantee full security over your coins. Once they are hacked, your coins will be gone forever. However, banks are still good these days but if you aim for bigger returns that will never happen. So it’s still best to have your own non-custodial wallet, at least you take the full management of your own coins and they will never be a target of stealing as long as the owner is responsible to protect his own coins.

[serjent05]

It is a nice move @OP, I applaud you for thinking more advance than any student of your age.  I know you won't regret this decision and might be a turning point in your life when Bitcoin becomes bullish and increase in price more than 10 folds in the future.

I hope you have the patience and self-control to see through and hodl until the price of Bitcoin is enough to make it a life changer for you.  Just keep on accumulating and make sure that you don't leave your coins in exchanges.  Better to keep them in your own wallet and make sure you also know how to secure your wallet.

That said, congratulation on making your dream come true and buying your 1st Bitcoin.