Finally! I have found an easy way to buy bitcoin.
Someone introduced me to coinbase. I signed up to it and i entered my banking details.
I uploaded 400 dollars to my usd account, and now i am finally going to purchase my first bitcoin.
I am very happy about this. It's about time i can easily buy bitcoin from my bank,
So my question is: Once i buy my first bitcoin, what exactly do i do with it?
Do i leave it in my coinbase account? Is it safe there?
Or do i transfer it to my desktop computer?
I'm not familiar with this yet. I plan to always keep a balance of 1 bitcoin in my account for 5 years to 10 years,
the rest of the bitcoin i buy i will spend online.
What is everyone's advice?
Someone introduced me to coinbase. I signed up to it and i entered my banking details.
I uploaded 400 dollars to my usd account, and now i am finally going to purchase my first bitcoin.
I am very happy about this. It's about time i can easily buy bitcoin from my bank,
So my question is: Once i buy my first bitcoin, what exactly do i do with it?
Do i leave it in my coinbase account? Is it safe there?
Or do i transfer it to my desktop computer?
I'm not familiar with this yet. I plan to always keep a balance of 1 bitcoin in my account for 5 years to 10 years,
the rest of the bitcoin i buy i will spend online.
What is everyone's advice?
Much of the above advice is excellent. I would not store my BTC at coinbase, at least for long.
The safest way that is "pretty easy" would be to buy a "hardware wallet". I use and like both the Trezor and the Ledger Nano, but there are newer ones available too.
https://www.bitcointrezor.com/
https://www.ledgerwallet.com/
Of course you can buy them w/ BTC!
LiteCoinGuy has a big and useful thread re hardware wallets: https://bitcointalk.org/index.php?topic=899253.0 It's a long thread but worth reading.