Bought my first 0.1 BTC

[boumalo]

OK just bought my first BTC investment to test the waters!

Now I have a question I'm in the UK and I've bought from Bittylicious, tho it's very easy and fast to use it's quite a lot of money over price market paid a good £20 quid over . Now is that the usual fee or are there cheaper ways to trade my fiat for BTC in the UK I feel I'm paying a Premium for the service and I admit it's a good service so far.
Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

Thank you for your help .

20pounds premium over a 1BTC buy or a 0.1 buy??

Congrats on your buy

I recommend BTC-e.com simply because they are easy to use and decently reliable.

And if i'm right then they require no ID so you can stay theoreticaly anonymous.

That is an added bonus

[Coef]

OK just bought my first BTC investment to test the waters!

Now I have a question I'm in the UK and I've bought from Bittylicious, tho it's very easy and fast to use it's quite a lot of money over price market paid a good £20 quid over . Now is that the usual fee or are there cheaper ways to trade my fiat for BTC in the UK I feel I'm paying a Premium for the service and I admit it's a good service so far.
Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

Thank you for your help .

If you want to get it fast and easy, use bittylicious or localbitcoins.
If you want to get it cheap, use bitstamp or btc-e.

[Coef]

I recommend BTC-e.com simply because they are easy to use and decently reliable.

And if i'm right then they require no ID so you can stay theoreticaly anonymous.

They're asking ID veritication for wire transfer transaction

Identity verification
 Required in case you choose to load your account by wire transfer.To comply with AML/CTF recommendations, we require our clients to verify identity by providing scanned copy of ID and scanned copy of utility bill or a bank statement which should not be older then 6 month. Copy should be in good resolution and colored.

https://btc-e.com/page/1

Hmm...they didn't just few weeks/months ago. Did they?

I have checked it 3 months ago, and btc-e was asking for ID verification for wire deposit. Not sure when it was first introduced though.

OK just bought my first BTC investment to test the waters!

Now I have a question I'm in the UK and I've bought from Bittylicious, tho it's very easy and fast to use it's quite a lot of money over price market paid a good £20 quid over . Now is that the usual fee or are there cheaper ways to trade my fiat for BTC in the UK I feel I'm paying a Premium for the service and I admit it's a good service so far.
Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

Thank you for your help .

20pounds premium over a 1BTC buy or a 0.1 buy??

At this moment, bittylicious is asking for £327 for a bitcoin while bitstamp is asking for $509 (~£305).

[mauinho]

thanks for all the replies ,

It's around £20 over 1BTC more or less on the cheapest option. It's not overkill it's just me looking to find a cheaper option if I'm planning on getting a few more as I said 4 or 5 will be my investment once I feel a bit more comfortable with the way things work. As I said the service was very good and fast so I cant complain for a newbie like me it's the best way to jump in the crypto world.
I was never a gambler and never invested in nothing and honestly don't own much but I remember browsing Bitcoin news a few years back and thinking to myself it was just a gimmick ... and look how things are right now so I'm taking the risk!
Worse case cenario I lose a months wages and the wife will rub it in forever, best case scenario (1 trillion dollar market cap ) I might have a nice little return here   

[Hash Master]

Congrats on your first investment!
Secure your wallet and you can try exchange websites such as bitstamp.

[schutzhund]

Wow, Congrats on your first investement. I bought some from Bitstamp last month and cashed out from localbitcoin that was the easiest and
quicker way i found for cashout.

[gelar24]

0.1btc is a good start, never mind how you would cash out in a few years' time, i think the bitcoin market will be so different in a few years.

differ in terms of what?

year would be different if the bitcoin wider circulation, and the price goes up and stable

and will be legal tender in each country

[InwardContour]

The first time I entered in the bitcoin world with my first purchase I was excited like the op,
you are now part of the next tech revolution, welcome to the future.

[Fenriswolf]

Congratulations and welcome!

Always read the forums and ask questions whenever needed.
There's lot of good stuff to learn around here 

Protect your wallet and enjoy!

[truthstalker]

Congrats you have to start somewhere!

[CozyLife]

Try Coinbase.com for "cashing out," but be careful to hold onto as many Bitcoins as you're financially able to. I seriously doubt Bitcoin will die, but instead it should increase in value as more people jump on board and want to buy it and companies like Dell stop "cashing out" as well. Bitcoin is a currency and it should be transacted with, not "cashed out" to another currency as if it was a stock or something. Not everyone accepts Bitcoin yet, so sometimes that does need to happen. Coinbase.com is available both to the USA and the UK and probably other parts of the world now, but they're based in the USA. It's one of the most credible companies on the market right now and the quickest to convert your Bitcoin to fiat as they send it to your bank.

As for premiums, go with BTC-e.com or Cryptsy.com as those are some of the largest exchanges out there right now. BritTrex, and BTer are available as well, but BitFinex.com seems to be lacking in the chart department, but has more tools geared towards financial specialists. The only premiums an exchange will chare are exchange fees. They usually are only .2% or .25% on each trade, not 20 Pounds on an 0.1 BTC transaction at the current market rate.

Good luck to you and I hope you enjoy the world of Bitcoin!

[giveBTCpls]

I remember I made my first 0.1 BTC off Dogecoins. I tried to buy more BTC with fiat, then used VirWox because it was a pain in the ass to get yourself verified in exchanges. I also wanted to avoid having to scan my ID or ridiculous shit along the lines. I have forgotten about exchanges as of now and im trying to hustle BTC with different ways. More difficult but less risky.

[gelar24]

The first time I entered in the bitcoin world with my first purchase I was excited like the op,
you are now part of the next tech revolution, welcome to the future.

haha from the first time I know bitcoin until now have never bought or issued capital of my pocket money seperpun

I used to look for free from the faucet and giveaway grateful but until now I've been able to get approximately 5 btc

[techgeek]

Remember to back up your balance!

regardless if its small its a good habit, once you have a full bitcoin. or more.

[Zebra]

Now another question is what is the easiest safest way to cash out back to fiat? Im planning on investing on 4 or 5 BTC then hodl for a few years or so but if in a emergency I need to cash out what's the easiest way ATM and will I have to pay a PREMIUM again?

In emergency, you could sell your bitcoin very quickly on localbitcoins, or if you have already verified your identity on an exchange, you can sell your bitcoin there as well.
If not in emergency, you could spend the bitcoin on stuff you need directly instead of selling it and buying stuff with fiat.

[jeroenn13]

Put them in a safe and never look at it for the next 10 years.

[wezphoto]

Nice investment, instead of wasting time on faucets you made the right decision, well done.

[bomb177]

Nice investment, instead of wasting time on faucets you made the right decision, well done.

They can be useful for new entries to build some experience with wallets but the best way to earn is to buy btc directly.

[mauinho]

Thanks for all the replies
I'd just like to add the I've just used localbitcoins and its also quite easy to use and with cheaper prices then bittylicious its a no brainer
got another 0.2 BTC and it took no longer then 5 minutes for the whole process.
Exchanges are not my cup of tea too complicated IMO.

[ace104]

Welcome to the entrance of the rabbit hole. 

Cypher: "I know what you're thinking, 'cause right now I'm thinking the same thing. Actually, I've been thinking it ever since I got here: Why oh why didn't I take the BLUE pill?" I'll tell you why. You are the chosen one. You have the power to see through the lies. The only truth is Bitcoin.

Morpheus: "What you know you can't explain, but you feel it. You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad." The truth is that you were born to be an investor Neo.