My first investment for Bitcoin

[rachael9385]

Hey mate, you have done well investing in Bitcoin. Whenever I see people investing in Bitcoin it makes me feel like am the only person remaining outside the moving train.
Once again you have done well, don't be in a haste to sell, just grip it.

[1715363757]

1715363757

[1715363757]

1715363757

[lalabotax]

I haven't started my career yet. I got idea about bitcoin and got interested in bitcoin investment. But where to get money? I don't have that much wealth. Father gives me money for hand expenses. I didn't spend that money. I saved about $14.55 with that money and invested in my first Bitcoin today. When I have more money I will invest more and more bitcoins.

Congratulations, mate. Your first Bitcoin investment will really influence your decision. This may be a brave decision where investing in crypto is always high risk, moreover, the market is now very dipping. Hopefully, you don't get panic and still be aware that there must be another high better time to see the market. Well, getting minus so much in Bitcoin investment is actually very usual to happen. So, be calm and patient to wait for the market is getting better and better. never panic with this condition.

[tiCeR]

And from the interface of the exchange in your image I think you used kucoin which means you'll have to withdraw your coin from that exchange into your non-custodial wallet. Remember Not Your Key Not your Coin so for now I'd say you have no Bitcoin just some numbers been displayed on your exchange.

Right, I can't emphasis it enough; No matter how small your holdings in Bitcoin, don't keep it on exchanges. I suppose, when you factor in the fee for withdrawing, it can seem counter productive if you've got small amounts. However, at the very least do it at different targets where your comfortable with paying the fee. Since, new users probably need to familiarize themselves with the right way of doing it, instead of getting too comfortable, and getting stung if anything ever happens to the exchange.

Personally, I'd rather lose a little in fees, and know that my Bitcoin is secure than holding it on the exchange for a prolonged period. I usually, only deposit what I'm going to take out in an exchange, and I'd recommend doing the same whenever you're purchasing Bitcoin. Maybe, holding out until you can afford higher amounts to justify the fee might also be an option.

It does depend a bit on your trading goals or whether there is an exchange that has a certain trading pair but others have not. I am all for Bitcoin anyway, but I also used to trade some stuff and withdrawing and depositing all the time doesn't make it worth in the end.

BUT, Welsh is right as I can tell that over the course of my long crypto experience, I have had a couple of minor losses due to leaving some coins on the exchange. I guess most of us who were around early got caught at least once, or not?

Good old Mt. Gox, Cryptsy, but also a couple of other exchanges. Oh Cryptopia comes to my mind and I can't recall the names but many have disappeared so the advice to not keep your coins on an exchange is 200% correct. The collapses as we have seen with FTX always happen out of a sudden. Everything works fine dozens of times and then without any prior notice the withdrawal is not being processed anymore. Congratulations, tiCeR, for leaving those coins (even if not many) on the exchange (is what I am telling myself ).

I must say though that these days I don't have a single penny on any exchange. Thankfully never lost big, but learnt the lesson.