Buying and Losing My First Bitcoin

[btc78]

That is sad to hear but i am hoping that you picked yourself up and continued with your chin held high it is really a waste to fall victim to these kind of things but once you have fallen into it all you can do is bounce from it and learn from it

Meanwhile I remember investing into bitcoin with a few money i saved it was just little amount but seeing how it was growing made me excited and happy and to be honest this might sound a little corny but during hard times i just think about the fact that i hold some bitcoin now it makes me feel a little better and more secured i guess

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[Zigabel]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

My first Bitcoin was bought out of curiosity, I was told about Bitcoin by a group of persons at a seminar they organized in my locality sometimes around 2020 so I was told how profitable it can be and the fact that it decentralized so you reserve much control over your portfolio, these and more were been mentioned to me then so I became curious as to how profitable this investment can be and still gives me the full control over it , after the seminar I approached one of the organizers who helped me through on how to purchase my first bit coin and I invested $50 for a trial with the hope that upon exponential appreciation I will increase my portfolio size, my portfolio did increased and I was glad I did ceased that opportunity.

Few months down the line I contacted one of the seminar organisers who stood in as a mentor and he advised I allow by portfolio grow awhile again which I did, and when I was ready to harvest the proceeds he did helped me through again how to sell off my Bitcoin and make profit, it was the proceeds from my Bitcoin I use to establish a small business in my locality which today has grown into a bigger establishment. I didn't regret ever investing in Bitcoin.

[oktana]

Don’t beat yourself too much about it. It is these experiences that actually make you. We all have different experiences, mine was investing in a project I hoped will be massive only to figure out that it was a scam the whole time. I felt really bad because I had so much hope. But the decisions I make today is based off on events like that. About Bitcoin being illegal in your country, I won’t say you should go against the law but maybe you can have a friend who resides in a country where it is legal purchase some for you. Because Bitcoin will still keep growing.

[SmartGold01]

I have never lost my investment to any silly site or scamming site because I wasn't that greedy of looking for a cheap site to double my money the main reason why people usually lost money to scam site is because they want to seat out there or sleeping while those site keeps generating money for them. What is killing most of us is that we don't want to go for information and do our researches concerning any site we are putting our money or if that you remained stick to bitcoin I am not sure you would have lost your investment and come to think this, $25 worth of bitcoin at 2017 could have been a reasonable investment by today compared with the current price of bitcoin today.

[Kakmakr]

My first bitcoin was bought way back when a Bitcoin cost about $300+ .... I then saw a online site selling a necklace with a real dead Butterfly that was set in Gold, so I bought it as a gift for my mother. (She loved the whole back story about the butterfly and how they donated funds from these butterflies that died due to natural causes to save other species that was endangered)

We later found out that it was a huge scam and that no money went to nature conservation and that the Gold was fake. It was a very expensive lesson, but my mother really enjoyed the gift. 

[0t3p0t]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Well I told myself before that "I am now a certified Bitcoin investor." But contrary to what had happened to your investment, I did not lose my first Bitcoin investmemt instead I used it for me and my family's needs. It was strange at first and I am a bit worried about the risk but the outcome of that investment was great. Unfortunately my trading journey was nothing but a mess that is why I only buy and hodl. 😆 But recently, since I was enrolled in a signature campaign, there is no need fo me to buy Bitcoin. 😁

[someone703]

That's why education is the ultimate armor in the Bitcoin arena. By understanding concepts like blockchain technology, market volatility, and risk management, investors can transform from impulsive gamblers to calculated strategists. Knowing when to buy becomes an art form, a dance between reading market signals and understanding personal risk tolerance.

But it's not just about self-education. Responsible advice becomes paramount when guiding others towards this volatile frontier. It's not enough to simply say "Bitcoin! Big money!" We have a duty to paint a realistic picture, highlighting the potential pitfalls just as readily as the glittering peaks. Transparency about price fluctuations, potential scams, and the ever-evolving landscape is crucial.

[wtsimis]

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

Third party hype site means, If I send the dollars I have to their wallet through their website, they will pay me $1.75 per day for 30 consecutive days. Buying my bitcoins was a bit of a hassle. First I bought PAYZA dollars with my country's money. I bought $25 worth of bitcoins with those PAYZA dollars. The hype site paid me $1.75 for three days, then stopped paying and was never found. They closed that website.

[Kelward]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

If Bitcoin is illegal in your country then it's not safe for to hold or trade it, if you must then it'll be at a great risk, so you'll have to be very careful with your decisions, or you can relocate to a crypto friendly country.

Most hyped projects on social media are scams, you'd have to carry out a thorough research before you invest your hard earned money, I guess you already knows that from your experience.

I lost the wallet address of my first Bitcoin, I never memorized it, and when I tried to access it from another wallet, it said that I misspelled a word in the seed phrase. I was sure that it's the correct seed phrase, perhaps an error from coinomi wallet. The Bitcoin is still in that wallet till today and I might not be able to send it forever.

[wtsimis]

I don't really understand what the point of what you are asking is,

Actually the main purpose of my asking this question is, everyone in some way in his life first comes into contact with Bitcoin and buys Bitcoin. Also invests somewhere to make some profit. As I didn't understand at first, buying bitcoins means my money is invested. So I lost my first bitcoin by investing in a hype site to get some profit. So I asked to know if this has happened to anyone else.

[Lorence.xD]

Being involved in crypto for a long time would help you know and be aware of Bitcoin's existence. At first, the thinking of investing in Bitcoin comes with a plan that, doesn't mean that you have the money you would go straight invest your money, so I did my research first and found answers to any question that came to my mind about Bitcoin such as how is the process of simply buying and selling, where could I convert money things like that. It is really hard to explore things that are not popular or widely known in your country, so there would be times there's a doubt that is it a good thing to study Bitcoin and invest. I started with a small amount, and don't have any idea if I'm on the right path, I did not lose it but I sold it early cause it just a little profit it's already a big deal for me.

[Natsuu]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Well I told myself before that "I am now a certified Bitcoin investor." But contrary to what had happened to your investment, I did not lose my first Bitcoin investmemt instead I used it for me and my family's needs. It was strange at first and I am a bit worried about the risk but the outcome of that investment was great. Unfortunately my trading journey was nothing but a mess that is why I only buy and hodl. 😆 But recently, since I was enrolled in a signature campaign, there is no need fo me to buy Bitcoin. 😁

I'm glad that your initial Bitcoin investment provided tangible benefits for you and your family and you've found an alternative source of Bitcoin through a signature campaign. Wishing you continued success in your cryptocurrency journey! I hope more folks out there find their way, just like you did, when the crypto journey gets a bit rough.

[Franctoshi]

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

I got to know Bitcoin that early or mid-2017 ,there were several of these high reward promising scam sites around that 2017 that offered attractive return on investment, and it was a trap for beginners then, they will pay for some months and before you could know it they are gone, As newbie in crypto space you can't totally avoid those newbie mistakes, and most times we learn from those mistakes, My friend and I even lost our Bitcoin in that 2017 as a result of this scam site, mine was around $75 worth of Bitcoin and my friend that introduced me lost about $95.

[The Cryptovator]

I learned about Bitcoin through so-called revenue-sharing sites when I was a beginner. That time, I wasn't aware that revenue-sharing sites were just Ponzi schemes. However, there was a Bitcoin payment system from which I was interested and learned about Bitcoin. So yes, surprisingly, I also lost my first Bitcoin investment as well. Though I wasn't a loser when I invested through fiat like Payza or Perfect Money, I was just lost when I started investing through Bitcoin, and I learned they were actually scammers. So I left all kinds of Ponzi investments and started learning about cryptocurrency.

[Ziskinberg]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I should say greed and excitement mixed up the first time I invested in bitcoin. That's why when my first losses came, I was really depressed by that time. Until I realized that losses are actually inevitable in any type of investment most especially in a high risk investment like bitcoin. Although my first loss was not that huge but knowing I've used my hard-earned money, that part made me feel a bit of frustration and quite depressed.

[Mr.right85]

So yes, surprisingly, I also lost my first Bitcoin investment as well. Though I wasn't a loser when I invested through fiat like Payza or Perfect Money, I was just lost when I started investing through Bitcoin, and I learned they were actually scammers. So I left all kinds of Ponzi investments and started learning about cryptocurrency.

I don’t quite get it when you talk about investing using fiat money with Payza or Perfect Money systems. Where they not the same platform, I mean like, the supposed Ponzi that your Bitcoin investments was lost in?
How is it that, you lose with Bitcoin and not fiat because, my thoughts is that, if you were able to withdraw on the same platform using fiat options, you also should have been able to have an instantaneous withdrawal option using Bitcoin or other offered cryptocurrency as well.
Just want to know the mechanisms they used to archive a Bitcoin lose and not fiat though.

I’m the end, they always teach us a lesson, these Ponzi schemes and this lesson isn’t just about what happens on Ponzi schemes but the fact that, coins on centralized systems are never yours until it’s in a non custodian wallet.

[lalabotax]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

Mistakes can indeed be valuable lessons if we can take them. It's not easy for us to start investing in Bitcoin, especially if we live in a country that doesn't legalize Bitcoin. In my opinion, that is a pretty brave and good first step. However, if there is a mistake like that, it might mean that we were not initially ready for the investment... or we felt that we were not mentally ready if the price of Bitcoin could actually drop very much. or sometimes we are not committed to investing in Bitcoin and are instead attracted by FOMO from hype coins. This often makes us take wrong steps. That's why, from here, we need to learn properly from our experience and become better prepared.

My first investment was not enough and it was a purchase from bounty money. It was a lot of fun but only lasted a short time. ha ha ha

[boyptc]

How did it feel when you first invested in Bitcoin?

I think many have the same experience as yours losing their very first Bitcoin investment because of HYIP.

Way back then, those things were like a thing and they've been popular and many were naïve enough to get fooled by them.

My feeling was just, "let's get it on and see where it heads". Nothing unusual but I've just realized it that it was a nice decision when I see it pumping.

[macson]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

here you have made a big mistake, why should you invest the bitcoins that you have ^{(worth of $25)} in HYIP.  You have to understand that when you entrust your money to a third party then your chance of losing that money reaches 100%, there is no best way to earn bitcoins except by investing, working for bitcoin, taking part in contests, gambling at crypto casinos and trading.  anyway, you are still lucky because the value of the money you lose tends to be small, i can't help but think that if the nominal value was very large, you would definitely be very stressed, the next thing you have to do is refuse to believe third parties who claim to be able to double the bitcoins you have, it's all a bullshit.

[Asiska02]

Bitcoin is still completely illegal in my country. I was first introduced to Bitcoin through a friend of mine. I first bought Bitcoin in early 2017. I bought only 25 dollars worth of bitcoins then. The feeling of making the first investment in life was different. Although I wasted that Bitcoin by investing in a third party hype site. I had a hard time losing my first bitcoin.

How did it feel when you first invested in Bitcoin?

I also felt happy when I first invested in bitcoin because it was always one of my big dream after finding out about it, I couldn’t wait to get my first investment in bitcoin and it all felt nice throughout that time.
You have fumble too much in the past and I hope you’ve learnt a big lesson that will guide you when making investment choices in the future. Nothing is for free here and anyone that promise you anything free will just want to cheat you and run away with your money. The third party hyped site you invested in wouldn’t have happened if you had known about bitcoin in-depth or came across an informative platform like this to guide you. So sorry for the loss back then, but losses and disappointments are part of success stories in life.

What do you mean by third party hype site? And if you are investing in Bitcoin why would you make such moves, all you need is a private wallet where you store the Bitcoin you bought. It's that easy.
Most people who lose their Bitcoin do it because they made ignorant moves, firstly never trust anything until you have proven it to be true that's the way forward
.

He was still a novice and had no knowledge about bitcoin yet, he might have just invested willingly not for any purpose or maybe to just feel among people that own some bitcoin at the time. Everyone loves free money and they can easily be compelled to do some weird things to get that money, such is the case of the hyped website he invested in hoping to have double of his investment within a short time. As it has been said before and people keep reiterating it here; if it looks too good to be true, you should avoid it by all means. He has learnt a lesson and never will he make such mistake in his lifetime unless the lesson wasn’t thoughtful to him.