My first Bitcoin

[Bright0515]

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.

[EL MOHA]

First of all congratulations on your first bitcoin hold, i hope this is amount you can afford to lose and not your entire wages or salary. As that will help you to hold it for long. Looking at this the screen this is a binance wallet which is a centralized exchange and that’s the least of place to safe your coin because the keys doesn’t belong to you. I will advice you look for a reputable bitcoin wallet and in my opinion electrum is that wallet. Create a the new wallet yourself and don’t let your colleague do it for you and then keep the secret phrase safe in an offline place. Then move the coin from this exchange to the wallet. If you do not have basic knowledge of this then you can ask on the forum and you will be guided.

Going forward please do not post screenshots of your holdings as it dampens your privacy. You can also edit your post and remove this one. Also if you’re planning to add more bitcoin to your holdings then you might need to set up a cold storage like purchasing a hardware wallet. You can continuously keep buying bitcoin when you have the fund never wait for any price retracement as that will be a wait too risky if it doesn’t fall back

Here is the link to download an electrum wallet https://electrum.org/#home

[riqo]

I recommend you to use a hardware wallet sincerely, it is the best investment you can make to secure your bitcoins, but you must take into account what use you are going to give to the bitcoin, you are going to send currently to other addreses? or just to store bitcoin? in my experience I recommend you to use as hot wallet, Exodus, user-friedly app (remember to save the seed phrase) and in the case of cold wallet, ledger or trezor could be your options but that is based on what you want ,the design, the budget etc... just hope you the best in this btc community brother and remember never ever let your coins rest in exchanges.  

[Stalker22]

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?

[Lukmanfirdaus1]

congratulations bro on your first bitcoin purchase, how does it feel? Very exciting isn't it, plus a little nervous, so remember when I bought my first Bitcoin. For security, I think as long as you don't give your password, PIN, or account password to other people then everything is fine, but if not, I suggest you move to a new wallet. If you already have a lot of Bitcoin, I recommend hard wallets like Trezor and other hard wallets, they are very safe and difficult to hack.

[Rikafip]

So, is it safe for me to store my coin there

Nope. Binance (and any other centralized exchange) is one of the worst possible places to store your bitcoin and should be moved as soon as possible,just keep in mind that withdrawal fee is not negligable.

I know of electron but apart from the electron is there any other wallet which is safe?.

I guess you meant to say Electrum?Anyway, Electrum is one of the best bitcoin wallets so it should be on top of your list. If (when) you can afford it, hardware wallet would be even better solution as it would give you another layer of protection and if you plan to be into bitcoin for a long run, getting one should be one of your priorities.

[Assface16678]

Well, as they say, better start no matter how much it is. Congratulations on your courage to start investing in the bitcoin or crypto currency world. The fact that you've allocated an amount of money to buy an asset means you have the will to continue investing in crypto. This may be the start of your journey, but remember, you're not just going to buy and sell; I think you know that you need to hone your knowledge and skills in terms of crypto currency or bitcoin if you want to focus on one currency only for the time being.

I guess you should move your holdings to a cold wallet rather than a secured wallet if you will just hodl an asset because storing it on a platform like Binance is unsafe. I mean, just to make sure that your asset will be untouched secured. Im not saying that Binance is not a secured platform; its just to make sure that nothing will compromise your asset.

[Emmanuelex]

Congrats on your first 👏🏽
You can store on any of the decentralized wallets like Trust Wallet, it's a popular choice that i knkw a lot of people use. Good luck

[2Pizza410000BTC]

Congratulations on investing in Bitcoin. Whatever amount you can invest, try to invest consistently using the DCA method. If you always invest in Bitcoin using DCA method then surely you will get good success.

Since you are asking for advice I would suggest you keep your investment in your own wallet. Because investing in any exchange wallet looks very risky. Since you have heard of Electrum wallet to keep your investment, you have not chosen a bad wallet. Electrum wallet is definitely good if you can keep the seed phrase very safe. There are also many other wallets that you will get to know if you are active here regularly. But of course you should keep your wallet seed phrase very safe so that no one can steal it somehow.

[Pokapoka124]

Congratulations on your new job and also buying your first bitcoins. I will advise you to move your bitcoins from Binance to a non custodial wallet like Electrum or Blue wallet.

[General] Bitcoin Wallets - Which, what, why 

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

Naira, I think. OP has made a couple of posts in the Nigerian local board, I assume he is Nigerian.

Congrats on your first 👏🏽
You can store on any of the decentralized wallets like Trust Wallet, it's a popular choice that i knkw a lot of people use. Good luck

That’s not true. Trust wallet runs on centralized servers so it's cannot be classified as decentralized, and to top it off, Trust wallet is closed source.

[Reatim]

Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job,

Actually this is confusing as how can you work so hard when you have no JOB?  mind explaining this for us to really believe that you are talking here?

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,

another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us  above that you are working so hard to invest in 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.

You said that LONG TIME AGO you wanted to Buy Bitcoin , But up to this part you dont know what to do? the very moment that you consider buying then you have dig the formula to how can you buy and where to store it safely, sorry but you seems to be having different plans than asking this questions.

[BABY SHOES]

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.

It's not safe to keep your coins on an exchange it's more risky if the exchange gets hacked, or collapses due to bankruptcy.
I just heard of Electron? What kind of wallet is that, do you mean Electrum?
There are software wallets that you can use to store your BTC by having full control of the seed phrase, you can also use hardware wallets by purchasing but these cold wallets are the most secure way.

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 think it's in Nigerian currency, but I don't know what 5 digits is a dollar? I think it's pretty big, especially with $110 investment every payday. wow

[Pokapoka124]

another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us  above that you are working so hard to invest in bitcoin?

$110 is a decent amount of money. For someone earning five figures in naira, I would say OP outdid himself. As a rule of thumb, you should invest what you can afford to lose. If $110 is what OP can afford to risk, that’s his  prerogative.

Other than scrutinizing the OP, do you have any advice for the OP. I have been seeing a lot of threads from newbies about how older members are harsh towards them. Reading your comment on this thread, I understand why they feel that way.

[GreatArkansas]

another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us  above that you are working so hard to invest in bitcoin?

$110 is a decent amount of money. For someone earning five figures in naira, I would say OP outdid himself. As a rule of thumb, you should invest what you can afford to lose. If $110 is what OP can afford to risk, that’s his  prerogative.

Other than scrutinizing the OP, do you have any advice for the OP. I have been seeing a lot of threads from newbies about how older members are harsh towards them. Reading your comment on this thread, I understand why they feel that way.

Exactly. If $110 is already huge for OP, we must respect it or maybe OP is just trying small first and then slowly adding more, it depends but as per OP, it is already decent money.

We all know how risky cryptocurrency is and volatile it is.
For now,  let's appreciate what OP did regardless of the amount.

[blockman]

I know of electron but apart from the electron is there any other wallet which is safe?.

Be careful, that's electrum and not electron. Because if the spelling is wrong, you're likely to download the wrong wallet and lose all of your holdings in a glance.

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

Based on his posting history, he's from Nigeria so likely it is the Nigerian Naira.

@OP, I'd like to congratulate you with your first ever bought Bitcoin and this isn't the end of it and you're just starting out. Do always buy whenever you're comfortable and without having to restraint your budget. Good luck.

[Churchillvv]

Long time ago I was working so hard to buy Bitcoin but I couldn't because I had no job,

Firstly this statement is fallacious.

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.

Well congratulations on your first Bitcoin purchase, although there is a thread that discusses Bitcoin achievement records etc so you could just post your first Bitcoin purchase there.[1] Also making use of search button [2] regularly is very crucial in order not to duplicate or repeat things too much.

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 electrum but apart from the electron electrum is there any other wallet which is safe?.

If there is any good wallet that people will suggest you should use it's just electrum but there are other wallets that you could use e.g sparrow wallet, Blue wallet etc but not there are not as good as electrum which you already know of.

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.

I'm also a newbie but I know of a thread that has so much insight on Bitcoin accumulations which is buy the dip and hodl[3] in that thread JayJuanGee shares alot of knowledge on healthy Bitcoin accumulation. There is another thread you might want to visit which is JJG's Outline of Bitcoin Investment Ideas[4]
[1] https://asktom.cf/index.php?topic=5433429.0
[2] https://asktom.cf/index.php?topic=5276341.0
[3] https://asktom.cf/index.php?topic=5132720.0
[4] https://asktom.cf/index.php?topic=5376945.0

[AHOYBRAUSE]

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?

That's the main question, haha.
If he says he earns 5 figures a month but will "only" invest like 100$ this doesn't add up.

So I doubt it will be $ or euro. Since he is posting in the Nigeria section (I just checked) I guess we have our answer. The problem though, 10000 naira is only 11$ .  That means even a 6 figures payday wouldn't be much money.

Anyway, it's always nice to hear stories from new bitcoin holders and supporters. Hopefully the support will only rise from here so that btc never dies.

[God bless u]

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.

First of all, I congratulate you for taking a great step, buying Bitcoin is not a trivial matter and with the great thinking you have behind it, I can see very well how you Want to buy Bitcoin and then how did you succeed then I want to submit that your thinking about Bitcoin is very good and you have a very bright future in it.

The bright future means you will benefit a Lot because you are collecting bitcoins now, collecting bitcoins is going to take you far in the future and for that reason I would recommend you to be a follower of whatever hardware you are using is safe pal etc, you can deposit whatever amount of bitcoin or other coins you have into it.

[God bless u]

another question here, you are earning 5 figures but only spending 110 dollars from that salary when you told us  above that you are working so hard to invest in bitcoin?

$110 is a decent amount of money. For someone earning five figures in naira, I would say OP outdid himself. As a rule of thumb, you should invest what you can afford to lose. If $110 is what OP can afford to risk, that’s his  prerogative.

Other than scrutinizing the OP, do you have any advice for the OP. I have been seeing a lot of threads from newbies about how older members are harsh towards them. Reading your comment on this thread, I understand why they feel that way.

Exactly. If $110 is already huge for OP, we must respect it or maybe OP is just trying small first and then slowly adding more, it depends but as per OP, it is already decent money.

We all know how risky cryptocurrency is and volatile it is.
For now,  let's appreciate what OP did regardless of the amount.

Buying 110 dollars in the first step is a big deal because he has taken one step. The most difficult step is the first step. The rest of the steps can be done very easily, but taking the first step is not for everyone. Now he has taken a step, now the way will be paved for him, that is, his thoughts and concerns will start working for a very long time, and provided that he does not go back from his goal now. He bought the bitcoin at $110. Now if Bitcoin goes down, that $110 will become $80 so he shouldn't sell it amd do patience then his future will become very good.

[7juju]

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.

Congratulations, this is the right step taken in the right direction. This is a decision you won't have to regret in your lifetime. Now you have to apply decipline as you have started this journey. Make sure that you have the right mechanisms set in place so you won't have to empty your bag, rather you will keep adding to your bag from time to time.