Quote:
Originally Posted by jscott
It is very easy. Buy Bitcoin and hold for long term in cold storage (not on exchanges). There's literally nothing you have to do or figure out more than that. But I would advise to research the technology, economics & intention of Bitcoin  |
I would also say it is better to split up your purchases and make smaller regular purchases over an extended period, i.e. the classic "Dollar Cost Averaging" (DCA). If you bought it all at once, the volatility means you could easily lose 30% over a couple of months. You'd still be fine in the longer term, but it would still not be a nice introduction to the space, so DCA is the way to go.
The next thing is to always consider your overall risk management, and make sure you are being sensible with your asset allocations, i.e. varied portfolio of assets, modelling so that you can deal with adverse events, etc. Instead of thinking how much money you could make, think about how you could prevent losing money.
