It sounds to me like you're considering taking this very important step, but are not entirely sure it is the right thing for you.
Take as long as you want to deliberate, and don't let anyone pressure you.
However, if you are ready to have sexual relationship with this guy, don't let the horror stories you might hear intimidate you.
The first time can be a little painful, and there is not always blood. Make sure the guy takes good care of you first, so that you are aroused and satisfied before he takes off, so to speak,
Good luck, and enjoy!