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RE: Buying BTC for the first time: my story
Nice to hear someone else say that they found buying bitcoin hard! I would like to make a start and with (very) limited funds just buy a token amount. I hoped to make use of the dip too but really don't know what I'm doing with exchanges and wallets! I managed to sign up to Cex.io but haven't put any money on the exchange yet and am so unclear about what I would do after that (like moving it to an offline, more secure wallet) that I haven't got any further. I feel I need to sit and actually go through it with a tutor!
I got started with just a small amount, and for that I recommend using credit card on Coinbase. Linking a bank account isn't like I thought, similar to PayPal where you just access your funds directly. To use your bank account on an exchange you have to wire transfer funds, and for the fee to be worth it I'd have to transfer about $700 USD.
The dip is over and Bitcoin is recovering strongly. That's unfortunate for us new buyers who wanted to get in then, but it was to be expected. If you still want to, I say go for it! Don't wait. Since I'm not planning on selling my first purchase of BTC for anything, I immediately transferred it off Coinbase to my desktop wallet (Electrum). Anytime you leave your crypto in an exchange you're trusting them to hold it for you. In a wallet, you control the private keys, meaning you only need to trust yourself and how well you manage access to your wallet.
I learned a lot by reading, and @lukestokes answered some questions for me. Anytime I'd come across something new I'd just Google search and learn. I didn't get BTC when I wanted, but I learned a lot along the way. I'm more than willing to share that info and help with any questions you might have.
Thanks for commenting. :)
Thanks for that. I really must get onto it as the price is only going to go up!