Hello Bitcoin users! So i've decided to pull the trigger and set myself a coinbase account to start investing in Bitcoin and other cryptocurrency. I'm excited explore this new finance endeavor and by doing so I would like to get some initial knowledge. Everyone is welcome to chime in on this but what are you guys' opinion for someone like me starting out would be an ideal amount of investment.
I know for the most part majority will probably advise to start on what I'm comfortable with however I'm mainly looking for an ideal quantifiable range based on how much is Bitcoin is going for or other cryptocurreny for that matter. What's too little and what's too much for someone whose in the beginning stages of investing. Thank you.
Are you planning on bitcoin long term holding or will do trades regularly? If you plan on long term holding then I suggest that after you buy bitcoin at Coinbase, transfer it to a bitcoin wallet wherein you control your private keys and no one controls your funds but you. Desktop and Hardware wallets will do. Examples are:
https://bitcoin.org/en/choose-your-wallet . If you plan to do trades based on your instincts then you have no choice but to deal with trading platforms. Take note that once you used an trading site, you don't control your funds there so risk of losing is possible but it's not wrong to trust them.
Ok what's more. Learn all the risks along the way. You don't need to study that much as basic knowledge is enough since some things will be automatically learn as you move forward.