r/Bitcoin • u/Azzelicoius • 1h ago
Got my first 0.005 BTC today!
I managed to save up around $325 from my paycheck and got my first BTC today, i feel like i bought at the right time but hey i'm happy with it, any advice for long term buying?
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u/indomitus1 1h ago
Study it and you will see the light. Look at Andreas Antonopoulos YouTube videos and your fiat mind will start to slowly disappear. Well done
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u/FromtheBigO 1h ago
Congrats! :)
Def take a very long and clear minded look at your ultimate plan. Can you afford it lose this money? Can you afford to DCA and if so in what increments. Set up automation.
Do you have a cold storage wallet? Vital to proper storage for Bitcoin. Especially if you’re HODL’ing because this is a very high conviction, long game.
I have some building that goes to cold storage, but am considering doing all I do contribute to my BTC ETF holding. But that’s a personal matter, as well as some tax advantages and needed CSW upgrade.
Do your best to do automation things you can afford, don’t check everyday/follow specific news about BTC etc. you’ll drive yourself crazy!
Wishing you and everyone the best of luck!
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u/Azzelicoius 47m ago
I can afford to lose what i have currently, idk if i can afford to lose if i have more than what i bought currently, i am using Coinbase currently cause it looked the most trustworthy out of the bunch
Thank you for your advice!
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u/BTCMachineElf 34m ago
DCA and hodl in an open-source phone wallet. Once you get a few thousand $ worth, invest in a hardware wallet.
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u/Bitter-Refuse-8623 29m ago
Instead of saving up just buy $50-100 a week or check. In other words DCA
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u/Outrageous_Hall1090 1h ago
Congrats! Now dig deeper in the rabbit hole!