My first Bitcoin

[yazher]

Congratulations.  Your concern is very good.  As your amount till now is very less.  So electrum wallet is enough for you.  If you have more bitcoins then you can move to Hadware wallet.You continue to buy bitcoins like this.  Your plan is very good.  If you hold for a long time you will gain a lot.The price of Bitcoin is increasing a lot.  It can release the previous ATH.  In this you will get good quality profit.

No matter how slow your progress as long as you are working on it, you will be moving forward soon and know exactly what you gonna do next because you already managed to gain the necessary experience on how to invest in bitcoins and secure it. that's the important matter when it comes to holding bitcoins and you are doing right when you decide just to hold a small amount of it until you become a pro when keeping it securely next time you decide to buy a huge amount of bitcoins, you already know what to do and the things you won't do.

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[cozytrade]

Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.

[wiss19]

So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.

What do you mean by "there"? Do you mean that you have used a third-party service to buy Bitcoin and have your Bitcoin stored on their platform? If yes, then I would suggest you take them out and store them privately in a non-custodial wallet.

What's wrong with Electron? If your bought amount isn't that high, you can use Electron without any issues as long as you make it secure with a password and keep your seed phrase and private keys safe and secure.

My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.

It's simple, you earn money and then use that money to accumulate Bitcoin, but make sure that you are only using the money that isn't supposed to be used for something else so that you don't have to worry if the market doesn't go in your desired direction.

[rojan]

Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.

When I first started investing, the Bitcoin market went down a lot within a few days of investing. At that time I got frustrated and sold the invested Bitcoins. I suffered a lot of losses. I was new to investing at that time.  No. As a result, I have faced a lot of losses by investing without understanding in the first place. I have now gained a good understanding of Binion and recovered those losses very easily.

[armanda90]

First experienced most excited with investing in bitcoin and ever with OP position how happiness after success investing my money in bitcoin, although had small amount for investing than OP but its so amazing journey have been bitcoin investor. For saving your bitcoin assets its not matter in Binance and you look purchase bitcoin there, Binance is more securing exchange market and you will get paying few fees transaction if want hold in your own wallet such as electrum or using trustwallet for holding bitcoin.

No matter how slow your progress as long as you are working on it, you will be moving forward soon and know exactly what you gonna do next because you already managed to gain the necessary experience on how to invest in bitcoins and secure it. that's the important matter when it comes to holding bitcoins and you are doing right when you decide just to hold a small amount of it until you become a pro when keeping it securely next time you decide to buy a huge amount of bitcoins, you already know what to do and the things you won't do.

No matter with slow progress for investing in bitcoin regarding not all people have stable financial and already investing in bitcoin, I think small or large amount for investing in bitcoin exactly for the first time is not problem during has decision for the next time will purchase large amount and consistency keep accumulate investing in bitcoin every time. Keep be loyal holder with bitcoin as long term investment and will earn much benefit in the future exactly when bitcoin raising to the higher price.

[Magic-Money]

Trust wallet is good to store your Bitcoin, as long you save the phase code and password, and avoid connecting wallet in website because of phishing link's, trust wallet is good and safe.

[angrybirdy]

Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.

So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.

Hey! Congrats on your first bitcoin investment, That's good to hear that you bought that from your own salary, at least the money you worked hard for went somewhere and wasn't wasted on something meaningless. About the security, Why don't you try to use hardware wallet? or you should try trust wallet, since that's the most recommendable wallet and many users has been testify it's security. I will not suggest binance especially if we are in the same country because there's still no update about the issue between binance and SEC.

[Funke]

Let me give you an insight into what happen to a woman in my street. During the time of Naira scarcity in Nigeria due to the Central Bank Of Nigeria's cashless policy in 2023, a business woman was interested in opening an online bank account with Opay Digital services because of the companies cash back policy on transactions and free transfer policy.

But she lacked the know how on how to open and operate the application, so she contracted someone to open it for her in his phone so that she can be using his phone to monitor transactions, she did all of this because of trust.

But, unknown to her , the young man has been using her business account the man opened for her to place bets online to the sum of 30 thousand Nigerian Naira. When she discovered , the young man behaved as if he does not know what happened that funds are missing, until she called another expert to check for her.

This is a likely scenario you are suspecting that may happen. It is simple if you don't want to transfer the bitcoins to another account, change the password and write it down somewhere.

[ChiBitCTy]

Please don't tell people how much money you make or even that you own bitcoin if you can't help it.  It's no one else's business but your own and that kind of information should be kept private. 

I want to say congrats though on the new job!  Just make sure you're well diversified ( no matter what anyone here says, remember they most likely aren't licensed financial professionals) and you understand that your bitcoin balance can highly fluctuate, up or down. 

You've got plenty of advice here already but I'm a fan of Trezor, Cold Cards, Jade and I guess BitBox wallets are pretty legit too.

[Hallroom]

Trust wallet is good to store your Bitcoin, as long you save the phase code and password, and avoid connecting wallet in website because of phishing link's, trust wallet is good and safe.

LoL, you are still living in fool's paradise, because holding bitcoins in a trust wallet is not safe. Suitable wallets for holding Bitcoins Hardware wallets are most suitable. Among the software wallets, Bitcoin wallet, Electrum wallet, Mycelium wallet, etc. wallets are safe because these wallets are less likely to be hacked. But trust wallet is relatively weak security completely because it is all connected with google. So I never consider trust wallet as secure, because stronger wallets exist.

[Yatsan]

Good luck with your bitcoin investment. You can definitely profit from bitcoin investment if you can hold bitcoin investment for long term. Long term investment will surely bring you success in future. But one thing you must say as a new investor, there are many times when the price of Bitcoin goes down a lot. Don't ever think of selling your bitcoins in despair after seeing them fall in price. It is natural that the price of Bitcoin will fluctuate. Your patience can take your bitcoin investment far.

When I first started investing, the Bitcoin market went down a lot within a few days of investing. At that time I got frustrated and sold the invested Bitcoins. I suffered a lot of losses. I was new to investing at that time.  No. As a result, I have faced a lot of losses by investing without understanding in the first place. I have now gained a good understanding of Binion and recovered those losses very easily.

It is normal to make mistakes in the first place. Volatility is in nature on the market prices of crypto and with loss, those are temporary as long as you are not selling. Endurance of loss is crucial however, circumstances are really pushing people which yield to permanent loss. Again, such thing is normal as long as you learn from it. But I never assumed things to be easy even if you understand how things work in this industry. Prices are way unpredictable and patterns are only guides and will never guarantee certainty.

Please don't tell people how much money you make or even that you own bitcoin if you can't help it.  It's no one else's business but your own and that kind of information should be kept private. 

I want to say congrats though on the new job!  Just make sure you're well diversified ( no matter what anyone here says, remember they most likely aren't licensed financial professionals) and you understand that your bitcoin balance can highly fluctuate, up or down. 

You've got plenty of advice here already but I'm a fan of Trezor, Cold Cards, Jade and I guess BitBox wallets are pretty legit too.

It is okay to share what you are doing with other people but be careful with the informations you will be sharing with them because impressions could last. May people are having misunderstanding of what this technology is all about. Many people think that investing in this blockchain will yield to easy profit and as we all know, it is not that easily done, if it is true then many people should be rich by now right? But given that ony a few are succeeding it should be an enough warning to those who are planning to invest, to learn its concept first and avoid being too optimistic of it.

[bolshojkush]

Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job, but starting from this
month of January I have gotten a new job that pays me 5 figures a month and I just use $110 from my salary to buy Bitcoin,so as today is the last day of the month I just bought Bitcoin with part of my salary.
However, I bought it from a 3rd party through the help of a co-worker at my working place.

So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.

The answer is obvious, just look up and you will see a link to a new bitcoin wallet. Especially for people like you, they publish the latest version of the wallet, at the very top of the forum.

"News: Latest Bitcoin Core release: 26.0 [Torrent]"

[Ale88]

So, is it safe for me to store my coin there or is there any other wallet I can use to store my coins? I know of electron but apart from the electron is there any other wallet which is safe?.
My profile shows that I am still new on Bitcointalk and I would say with my actions I am very interested in learning more about the accumulation process so I can gain more Bitcoin.

Right now your coins are stored in a centralized exchange, that means that you have no control over them because yes, they are in your account, but if something happens to the exchange (which I don't think it will anyway, that's Binance, the biggest in the world), you lose everything. At the same time I would suggest you not to rush to move your bitcoins, before make sure you understand how wallets work, then you move the coins.

[The Cryptovator]

You are a beginner, so just start accumulating bitcoin. Since you can't buy Bitcoin at once, the best strategy is DCA. It means just accumulating bitcoin every month from your savings and holding it. For holding, you should use a non-custodial wallet like Electrum instead of storing your funds on centralised exchanges. I prefer Electrum because you just started your journey. But when you can afford it, just buy a hardware wallet to store your cryptocurrency. Whatever wallet you use, you must secure your seed phrase. Otherwise, you would lose everything.

[DaNNy001]

Well compared to me this is actually a good start if you ask me because I remember when I bought mine, it was during the 2022 bear market that Bitcoin was low as 19k$ and since then the little I have accumulated and earn from signature campaign here too has also made a good start up but I don't ever store my coins on CEX because there is to certainty to what will happen when one day you wake up and find out the exchange has been restricted since you don't actually have the full access to the keys to your coins in these CEX.

[Rruchi man]

but starting from this month of January I have gotten a new job that pays me 5 figures a month
~

Five figures a month you say? In what currency if I may ask?

I was interested to see the kind of job you do too because with earning well, your job can become someone's prayer point.

first purchase in every thing is always special. Many of us may not be able to remember how we felt the first time we invested in bitcoins.
@OP, congratulations on your first purchase, you should not stop investing just right after.

[smelody]

The world is into on the crisis. Russia and Ukraine war are continuing last two years. On the other hand in the middle east  unrest the economics crisis are gradually condensed.

For the reason of there have no any job security. The inflation of the economy day by day business situation are also unrest.

In this situation everyone needs outsourcing. As my analytical openion BTC income and investment is the best.
But as a newbie it's so difficult to earn.

[CODE200]

For now I think that's a good idea but once it goes to 0.01 and beyond, I think that it's time that you should consider using a non-custodial wallet with Electrum as being the most prominent of all because it's totally safe and you're going to learn responsibility there because you'll be able to learn how to maintain and keep a watch on your own bitcoins, it's a good thing that you finally came to your senses and started investing, remember this day because this is going to be one of the most memorable day for you and you will look back to this when bitcoin's price floor goes down to a 100k and you'll say to yourself that you should've bought more.

[Marvelman]

I was interested to see the kind of job you do too because with earning well, your job can become someone's prayer point.

first purchase in every thing is always special. Many of us may not be able to remember how we felt the first time we invested in bitcoins.
@OP, congratulations on your first purchase, you should not stop investing just right after.

I'm wondering if the OP forgot about this whole thing.  It's been more than ten days since he started the thread and there's pages of responses, but he hasn't chimed in at all. 

Makes me curious if he already picked a wallet or something without telling us.  I really hope it wasn't that "electron" one he mentioned early on! 

[Scarlett_23]

First of all congratulations to you. I think if you have a lot of money or the money is lying idle then you can invest for a long time. Investing in any business, not just Bitcoin, requires fortitude to wait a long time. Due to lack of experience many times we invest in wrong place. However, investing with Electrum does not seem like a bad decision, but you should keep your passwords and personal information confidential.