1. It's an cheap frame and alright for a first bike but 150 is waay too mcuh unless it is some spechial edition frame with super duper what ever tubing.

    2. What ever wheels you like.

    3. There is no great mystery to riding a fixed wheel bike just do it, it's not hard really. If you are really concerned give yourself half an hour in a car park away from traffic, then you will realise that you were being a big girls blouse about it all then just go out and ride to work taking it easy.

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