Life's first investment in Bitcoin by selling bicycles

[stomachgrowls]

Invest what you can afford to lose, Always remember that. I hope that you didn't need your bike in your daily life since If it is, I believe it is more important that having bitcoin. Don't risk too much especially that you are new to this industry, It a good thing that you did your first move as you are into cryptocurrency. Newbies tend to lose at first as they get a grasp of what they are entering into that's why we don't really recommend risking something that is important such as selling something that is needed on your daily lives.

Always the primary rule which people should really be considering out before they would be touching up the crypto space because we cant really be sure on what would happen next and also this market had been

unpredictable and volatile in the first place.If you do put up all of your savings and earnings on Bitcoin or other crypto then there's always a risk since there would be no guarantee.This is why you should really make yourself that self accepted that it cant really be that just a simple investment where its risk-free.

If you do make out those initial steps on acquiring bitcoin then its good but be wary on what you are doing as always.

[1715487515]

1715487515

[Bushdark]

You are welcome to the Bitcoin world and for your endeavors to own a Bitcoin is a good attempt. You may not understand the benefits now but as time goes in you will know how the network works and understand the market also. The market is bear now and I see it as an opportunity for you to buy at a cheaper rate now so you can make good profits from the market when the price goes up.
 Bitcoin is not just about the profits but you will learn how to hold for long as not to be over curious investors that is not interested in holding for a while but for a long time to maximize profits.

[Vaskiy]

Have patience and I believe you OP have got good understanding about the market, because most of the time the decline makes the new investors get into panic when the investment turns downward. In the past people have sold their entire properties and invested into bitcoin. Now the family have been mentioned as an example and are creating awareness all around. You didn't want to take big risks, but believe in it and continue to invest. You'll get the best out of the investment in the long run for sure.

[Fuso.hp]

Have patience and I believe you OP have got good understanding about the market,

Thank you sir..

You are welcome to the Bitcoin world and for your endeavors to own a Bitcoin is a good attempt.

Thank you so much sir..

unpredictable and volatile in the first.

I hope to get a good understanding of the market slowly.

Invest what you can afford to lose, Always remember that.

Of course I am ready to take the risk.

I like your dedication and ambition to gain profits by investing in Bitcoin,

Thank you sir.

Great OP,

Thank you so much..

First of all, welcome to bitcoin ecosystem.

Thank you so much..

That is Bitcoin investment.
Well, firstly, congratulation on your first investment in Bitcoin, I am sure that this will become a never-forget moment in your life.

I am very happy to invest in Bitcoin. And this time will be a memorable time in my life.

Do you mean you have no use of your bicycle any more?

By bicycle I used to do many daily essentials like going to market for tuition etc.

Well, as long as your bicycle is not useful to you anymore, then it’s a good decision to sell and invest in bitcoin.

Thanks for your valuable feedback.

Welcome to the BitcoinTalk forum.

thank you

It is true that the amount is small and it was a loss the first time, but the experience itself is new and exciting.

Although in the first stage I was at loss but I am very happy.

When you plan to make an investment, especially about long term investing - then plan how you keep your assets safe in the long term as well.

Your advice will be in my mind

@OP, it is normal for the price of Bitcoin to fluctuate.  As we know it is still considered as highly volatile asset. 

Thanks for the advice

I have two great concerns about Op

Thanks for your advice

@OP you must immediately transfer your investment to a safe self-custodial wallet if you are not going to trade with it.

Thanks for your advice

From the look of things, ops some is growing up in the knowledge that you need and while at that you are advised never to invest what you can not let go for a couple of years, Bitcoin is not a get-rich-quick scheme and at that, you need to have strong patient and motivation.

Investing I am ready to exercise maximum patience.

It's amazing that you bought Bitcoin.

Thank you
 

As a financial advisor I have some worries here. 

Your information was great informative. Which will be useful for me in future.

Great OP, although many people are not happy that selling assets to buy bitcoin is not advisable, but sometimes we need to make tradeoffs, and take risks to achieve greater things.

I am always ready to take such risks to achieve success.

[Patrol69]

Your taking such a risk is truly an inspiration to us. I very much appreciate your work. And seeing your risk-taking mindset gives me some courage to invest in Bitcoin myself.  I have been wondering for a long time whether I should invest in Bitcoin at this time. But I couldn't risk investing in Bitcoin.  But since you have taken such a big risk to invest by selling your bicycle as your only traveling companion, it is really an inspiration to me. Thank you for taking such a big decision and hope you get a good return on your investment.

[maydna]

Great OP, although many people are not happy that selling assets to buy bitcoin is not advisable, but sometimes we need to make tradeoffs, and take risks to achieve greater things.

I am always ready to take such risks to achieve success.

Good @OP. At least, one step you take now you are a step close to achieving your success. No need to wait for another time as this correction is a good time to add more bitcoins to your wallet. Those who invest in bitcoin want to pursue their future and are willing to take the risks of the fluctuating price so they can stand with their strong hand to hold their bitcoin. You should be like them to hold your bitcoin and continue the investment because, in the end, we will make a big profit in the next bull run.

[reagansimms]

Nice idea buddy, you try it in a very simple way. Selling bicycles to buy Bitcoin is a new experience in your life, I hope you are able to survive the storm to get victory after the graph increases again. I admit this is not easy, especially you just lost $ 5 on the first try, patience will lead you to success in investing. what is reduced is only the estimated value, the number of Bitcoin remains the same. So never worry.

[Kasabus]

Great OP, although many people are not happy that selling assets to buy bitcoin is not advisable, but sometimes we need to make tradeoffs, and take risks to achieve greater things.

I am always ready to take such risks to achieve success.

Good @OP. At least, one step you take now you are a step close to achieving your success. No need to wait for another time as this correction is a good time to add more bitcoins to your wallet. Those who invest in bitcoin want to pursue their future and are willing to take the risks of the fluctuating price so they can stand with their strong hand to hold their bitcoin. You should be like them to hold your bitcoin and continue the investment because, in the end, we will make a big profit in the next bull run.

You will surely succeed in bitcoin investment if you are determined to follow the valuable advices here in the forum. And btw, never be pressured when prices are declining because it won’t be happening all the time. You might be surprised by tomorrow or the next day the price has started to increase already so just stay patient and just enjoy accumulating more bitcoin while there are still opportunities to buy. When the bull run strikes, obviously it’s time for us to reap our profits together.

[bitzizzix]

Welcome and I support you by selling something that you own because you want to invest in bitcoins, and that is much better than doing it by borrowing because it is not such a good idea.
I hope you do for the long term and it doesn't matter how big or small you have because in the long run even if you only have a few bitcoins they will be very expensive in the long run. And you can buy a much nicer bike if it's profitable, and the most important thing is that you have the patience that even if the bitcoin price goes down, it will eventually go up again. So patience and strong belief must be instilled in you, because both are very important when we invest in bitcoin so that you remain calm.

[EarnOnVictor]

I invested with a small amount of money and from that small amount of money I lost like 5 dollars. But I am optimistic that I will definitely benefit from the amount I have invested.

You have done a good thing by investing, and I can assure you that Bitcoin will not fail you, it might only delay blessing you. Although you could have learned the investment better before engaging it, which would have helped you to speculate better to know when exactly to start the investment, and it would have avoided the initial losses incurred.

Well, the deed is done, I encourage you to be patient, the coin is on its bullish path between now and the next 2 years, so you will earn a multiple of your investment by then.

[inthelongrun]

Nice determination to invest and buy a part of bitcoin. But hopefully, the bicycle you just sold is not a necessity for you. Many people in other countries use bicycles as their regular mode of transportation to go to work and on their way back home. Meanwhile, your investment might turn $200 in a couple of years or even more in the long run which is enough to buy another bicycle plus the extra profit. Just be patient, don't get tempted and emotional on the big up and down swings and if you have extra savings from your regular income, a DCA in other smaller amounts would be great too.

[heslylamba]

Congratulations on buying the first bitcoin in your life.

Bitcoin is actually not the case when you become a millionaire in one day. Be patient and gradually increase your portfolio. Do more research and follow the news in the world. And then you will succeed!

[pawanjain]

Congratulations on getting into bitcoin but there are few things you should know.
I hope that the bicycle you sold was an old one or a spare one. You shouldn't sell things you "need" in order to buy bitcoin.
You have invested around $50 and you should not keep unrealistic expectations with your investment.
It won't get you $500 in a few weeks.
Investment takes time to give you profits and you should be able to hold that long to get those profits.

[Xampeuu]

an event that everyone experiences when they first buy bitcoin. the main thing is that we must be able to maintain mental stability to deal with price fluctuations, when you have already invested, my advice is to learn more about bitcoin, so you know what you should do to make a profit. for me you are right to choose bitcoin, not a new altcoin, so there is no need to worry about the money invested, as long as you can be patient

[GideonGono]

an event that everyone experiences when they first buy bitcoin. the main thing is that we must be able to maintain mental stability to deal with price fluctuations, when you have already invested, my advice is to learn more about bitcoin, so you know what you should do to make a profit. for me you are right to choose bitcoin, not a new altcoin, so there is no need to worry about the money invested, as long as you can be patient

Well congratulation on your first investment, I hope that it would be worth it for you OP.
And it is true what Xampeuu have mention you should be prepared for all of the things that could happen in crypto.
You already experienced the downfall of the market so just hold on and wait for the Bull to run and enjoy the profit.

[Rigon]

So I decided to sell my bicycle and invest in bitcoins. But since investing, the Bitcoin market has gradually started to decline. I invested with a small amount of money and from that small amount of money I lost like 5 dollars. But I am optimistic that I will definitely benefit from the amount I have invested.

You really deserve a lot of praise. Whatever decision you make to invest, I hope you will find success in your investment very soon. Even if you lose 5 dollars in the first investment, never worry, you will soon recover and see success.

Ever since many people talk about how to make a profit by investing in Bitcoin, I have been wondering when I can invest in Bitcoin. There is a lot of information about investing that I have tried to learn. And from various online platforms I got some information and ideas about investing.

I think you are one of the investors in kypto currency. But I hope you go further to get a better understanding of investing. You gain knowledge about investing online and apply some investment strategies in person. You will benefit more from it.

[Fivestar4everMVP]

On the matter of investing, don't ever invest based on what you heard people saying, always to your own research, take you time, learn everything about bitcoin and decide on your whether you still want to invest or not.
And for those investing, always remember that bitcoin investment is for the long term, don't go selling anything or item you know you gonna need in the short term all because you want to invest in bitcoin, some people sell their houses and invest the money in bitcoin, forgetting that houses are also a good investment too.

[Iranus]

Great OP, although many people are not happy that selling assets to buy bitcoin is not advisable, but sometimes we need to make tradeoffs, and take risks to achieve greater things. If it is a house or other important assets, it is not recommended, but this is just a bicycle, I believe it will not affect your life too much, and you certainly have a plan for yourself.

The next thing you need to do is hold it long enough until you make a profit, and to do that, you need knowledge, knowledge is the only way to succeed.

Hey bro i think to hodl your is coins is very simple,firstly just move it out of the centralized exchange (binance), because you not completely the owner of the coins when its in there. Then secondly look for a non custodial wallets like the electrum wallet, which has proven to be very good for hodling and safeguarding your coins and don't forget to keeps your seed phrase very secure and probably save it offline. Then the next big thing is that you totally shy away from the market trend because as a newbie the volatility of bitcoin can make you scared and want to sell off when the price eventually dips. Just be sure that the market will pump again. Try and save it for long because that's when you can actually get some tangible profits added to your investments. Again you can decide to sell off your coins but that totally is in your control but a long term investment is more advicable and preferable.

About bitcoin storage, I will have no opinion with you because what you said is absolutely true. But I don't think once you become an investor and avoid market trends, it's not an investment. Once we have invested, we need to accept and face the challenge, only then will we mature and know what to do next to survive in the market. Avoidance is not the way to survive in this market, the more volatile the market, the more you have to face it.

[death69]

Woo-hoo! I'm giving you the biggest high-five for taking the plunge and investing in Bitcoin. You've entered a world of excitement, thrills, and unpredictability! Brace yourself, because Bitcoin's value can be like a rollercoaster, but don't panic - it's all part of the fun!

Now, let's get down to business - keep yourself up-to-date with the latest news and happenings in the Bitcoin world. Also, why not throw in some other investments too, just to be on the safe side? Remember, only invest what you can afford to lose, and have a solid game plan for the long run. Let's see where this investment takes you, and best of luck, you crypto warrior!

[FanEagle]

Everyone has their own budget, not everyone will be capable of investing thousands of dollars into bitcoin and I support this move. I mean if you didn't need your bike, that means you should not be really worried about it in the end, let it be how it is right now and invest whenever you can.

Yes, the drop has been bad for most people, but do not be worried, if you can find another 50 dollars, just buy more and keep on investing. There will be plenty of people who will tell you that you are stupid for putting more money into something you already lost some money on, but I guarantee you that in the future that money will go up and you will be richer thanks to it.