Buying My First Bitcoin
I bought my first Bitcoin yesterday, well technically, in the sense that other times I bought Bitcoin was never for the purpose of holding or to build a holding, I mainly only bought BTC to buy other alts or to take advantage of price swings and sell off for some profits, however, this time, I bought to build a holding.
How did it go?
Well, it wasn't hassle free, infact I had a terrible experience. This was what happened. So while studying the Bitcoin charts for a perfect buy time, its not like there's ever a perfect "buy time" to buy Bitcoin passe, anyone waiting for a perfect buy time will wait forever, I just wanted a fairly near perfect buy time, not one that had to do with me buying at the top.
So I pulled together some funds after I noticed that there were some strong support around the $14k levels or that was what my intuition told me, so I waited for a brief correction which did happen and as I woukd have it, there was a flash crash to $14500 which didn't last for long. In my head I thought it would go further down, but it didn't, rather it went up to $14600 and before I knew it, $14,700.
I ended up buying at $14,800. So my plan was to start with $100 and after reading @edicted's post, I felt it would make sense to take advantage of the future volatility to trade back and forth, sell high buy low, rinse and repeat till January, you know, so I raised $100 and pulled out swap.app. I've been using the Swap.app platform for my trades for a while now just cuz its super easy.
After sending 1000hive, I received $33 in bitcoin, apparently, $11 was charged for fees, I felt that was preposterous, I guess the fees was as a result of mixture of Bitcoin transaction fees plus swap.apps fees, both were highly discouraging.
Then shortly after, I received a memo that the rest of my Hive had been returned because of lack of liquidity and I had to wait for 15 minutes to try again! Whaaaaaaat?!!! Try again and loose another $11 to transaction fees??? Totalling $22 because I want to buy some bitcoin worth $100 cmon man.
I guess it was my fault for not using Binance. Anyway now that I've learnt, that's what I'm going to do next, but I guess I have to wait a bit again before buying. The struggle tho! I hope there's a point in the future when buying Bitcoin would be totally hassle free.
Anyway, this is where I am, bought my first Bitcoin and I'm starting out my Bitcoin growth journey. After I wrote this post about not owning any Bitcoin in 2020, I realised that I've been sleeping with my eyes wide open, not anymore, it took me so long though lol.
You know what I'd love to see? A way to buy crypto with fiat through Leofinance, yes I know it might be a wild ask, plus I don't know what legal implications it will incure but, it would be nice. One can dream right?!
May the crypto's be with us!
Thanks for reading.
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