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 Steve
Can you tell us a bit about yourself ?
I’m 47, I live in west Auckland and I’ve been a self employed electrician for the last 8 or so years. I moved to NZ in 2001 from the UK and originally was going to stay for just a couple of years but here I am still here!
Where did you first hear about Bitcoin?
I first heard of Bitcoin a few years ago, it was an advert on an article that loosely caught my interest and I slowly started following it more and more over time. Bitcoin always interested me but not knowing how to get hold of some put him off of putting too much time into it.
What made you decide to buy some?
I was always keen to buy some, but wanted to buy from a site that I could trust, which was initially quite hard for me to do in New Zealand. I also wanted to ensure I could not only buy it but also that I could sell it when I needed too.
Why did you choose Vimba?
The main appeal of Vimba was that i could buy Bitcoin regularly in steady amounts over a period of time without a hideous fee. And also knowing that I could sell my Bitcoin back was a great incentive for me to use the service, other sites are very good at selling it but not very good at buying it back.
The last thing I would say is trust, being a NZ service and having a face to the brand gave me confidence to try it out.
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 very cool, the process to set up my Vimba account and a Bitcoin wallet is not daunting but it was great to see it all working.Getting the SMS and then checking my wallet and also seeing the value go up was really great too.
What have you been doing with your Bitcoin?
I think of Bitcoin as an investment like Kiwisaver. I’m holding it and still steadily buying it which I started doing in November 2017. All I want to do is buy and hold and see where it takes me. I want to build up to up to 10% of a BTC (0.1 BTC).
I’d like to think it’s also going to be something that I will use to pay for things. If i went back to the UK and could buy a coffee with BTC instead of VISA that would be cool.
What is your advice for someone first getting into Bitcoin?
Once you’ve got it all set up and its working , just invest a little bit to start with, maybe $20 a week and see how it all works. Definitely do your own research, google Bitcoin and read some articles.
Invest small amounts until you are more confident and then maybe increase it when you know more about it. Don’t invest money you don’t have.