Hey everyone, I finally took the plunge and bought my very first fraction of a Bitcoin today! It’s only $50, but it honestly feels pretty cool to finally be in the game after watching from the sidelines for months. I used a major exchange to buy it, but now that it's sitting there, I'm a bit confused about the best next steps for a absolute beginner.
Should I just leave it on the exchange for now since it’s a small amount, or is it already time to look into a personal wallet? I’m planning to add a little bit more every month (I think you guys call it DCA?), but I want to make sure I’m building good habits from day one. Any simple tips on security or things you wish you knew when you first started would be amazing. Thanks!
Just bought my first $50 of bitcoin. Now what?
byu/Salty_1984 inBitcoinBeginners
Posted by Salty_1984
3 Comments
If you read books you can read money: master the game by tony Robbins. It’s cover all what you will need to get your financial freedom even if you start with a small budget.
DCA , Keep stacking , dont worry about charts or the current fiat shit-coin Value, HODL & try not think about cashing out each purchase out for at least 4 years
… you dont have to, but you’ll thank me in 4 yrs if you do ,
Also consider self custody via Electrum wallet or something down the road as you could sweep the lot out (into cold wallet ) all at once from exchange after you’ve invested 1k or so
If your exchange supports Lightning withdrawals, you could send it to a hot wallet on your phone that supports Lightning, like Bull Bitcoin wallet or Aqua.
Otherwise, just leave it on the exchange until you get to about $500 or so.
Set up some kind of regular purchase plan as soon as you are able to.
Keep reading here – the whole FAQ would be a good start.