Shortly after joining the platform I purchased my first Bitcoin via Paxful and I made a lot of mistakes. I didn't fully understand what a blockchain was yet, I certainly didn't understand distribution, or decentralization. I knew what inflation was, but not how it impacted a "Stock like Investment". What I did understand was the idea of having a network of money outside of government control, running on a network of computers so large it could not easily be stopped, blocked or edited. I knew that having an transparent ledger of transactions to ensure each Bitcoin was authentic and there would be no double spend issues and I knew it would change the world.
The Bitcoin price on the day I purchased was $695, and that was a fairly high price as this was nearing the end of 2016. I bought it using Paxful and sent it to Bittrex over the next month I would learn to just go the easy way and use Coinbase. lol
I was reflecting recently how on much easier the experience is now, but still harder than one would expect. A 17-year-old member of my family asked me this week for assistance with setting up his first crypto wallet as he has several friends that invest in Bitcoin.
With so many entry points for crypto having KYC requirements and not wanting customers under 18, it's still difficult to tell him an easy way for him to invest regularly in Bitcoin, while he is young, working and living with his parents, he wants to get a jump on his investments. Also at his age staking his investment would be awesome.
This week as part of a curation incentive for LeoFinance curation, share a post of how you found out about and entered the crypto craze whether you've been at it for years or found us recently!
Link to my full and rather embarrassing 1st purchase post.
@whatsup/my-first-experience-using-bitcoin-to-power-up-my-account-bitcoin-virgin