I’m 25 years old. I’ve researched a lot about Bitcoin and other cryptocurrencies. Last night, I bought my first bits of Bitcoin. Now, what should I do? Should I do more research or just let my investment sit? I’m new to all of this, so any advice would be really helpful. Thanks!
while you didn’t buy on the dip, you need to be hopeful that the current price of Bitcoin may rise, else you might make a loss. My advice is: find more money and invest in more bitcoins if you want to make any significant profit.
Better money is Bitcoin. The idea is to get as much bitcoin as you can for your less valuable currency. Twenty dollars is a good place to start. I would arrange for as many recurring purchases of $20 USD as you can without endangering your finances, then simply enjoy the journey. This will safeguard and grow your money while preparing you for the future.
Take your Bitcoin off the exchange and put it on a hardware wallet or a Tails USB. Get used to taking care of your own Bitcoin now, so you won’t have to learn in a hurry if you have more than you can afford to lose.
If you want to learn more, I can recommend about 30 books. The best one to start with is The Bitcoin Standard by Saifedean Ammous. For a podcast, What Bitcoin Did by Peter McCormack is great for beginners. Listening to his talks with Lyn Alden alone can fill up a whole weekend.