In this series, we talk with people from all over New Zealand about their very first Bitcoin purchase. We ask them about their journey from first hearing about Bitcoin to having their very own.
Today, we spoke with Gabriel
Can you tell us a bit about yourself?
I’m 22 years old and live in Nelson, I was born here and have no plans to move away just yet! I work as an Online Campaign Manager so I have a bit of knowledge in the digital space.
Where did you first hear about Bitcoin?
I first heard of it in early 2014 but didn’t really pay too much attention to it. In mid to late 2017 I started seeing a lot more of it appear on social media especially coming from friends and family and that piqued my interest to actually look into it.
What made you decide to buy some?
I sort of felt that it all pretty much came to a tipping point for me. I had done a Bachelor of Commerce so had a keen interest in finance. I was also using Kiwisaver and other financial schemes.
As I said previously, I started hearing more and more about Bitcoin from friends and family, and it became a hot topic at work so it all really motivated me to take the plunge and finally buy some!
Why did you choose MyBitcoinSaver?
When I first went to buy Bitcoin, I didn’t realise how difficult it was to actually get. I kept signing up to exchanges and had to go through their long and difficult process which made me sign up to other exchanges in the hope that they would be quicker and easier.
After hearing about MyBitcoinSaver from a NewsHub segment I quickly signed up with you guys and as it turns out your were the first to get back to me with a fully verified account ready to go.
I found it was the perfect entry for me into Bitcoin.
Can you tell us a bit about your first Bitcoin purchase? What was it like being the proud owner of your first amount of Bitcoin?
It was exciting! After depositing some money on the Monday I remember getting the SMS on the Friday and then checking my wallet to see that sure enough my Bitcoin had arrived. It started a ‘Crypto Passion’ for me and I began watching the market everyday — using the MyBitcoinSaver account page to constantly check the price and my savings gains.
I then started doing more and more research into the technology behind it and I suddenly just got how great it is, that we are entering into a new digital age of money.
What is your advice for someone first getting into Bitcoin or other cryptocurrencies?
I have three things to say here:
Invest only what you are willing to use, don’t be greedy. Do your own research before you put your money into cryptocurrency, wait a little bit, and don’t get FOMO (fear of missing out) as there is always opportunity to buy, crypto runs in cycles. Don’t sell. Be in it for the long run. Some people only do it for a few weeks and if they lose a bit and cash out they say it was a waste of time. You only lose money if you cash out. Have a long term strategy as we are still only at the beginning of Cryptocurrency!