But as a newbie that want to tread this path, what are the things I need to know about it? Will buying and hording for a long time profit me?
Yes buying and holding (not hoarding) will beneficial for long term. But dont assume any profits with certainty since you are also taking a huge risk by purchasing a volatile asset that could go up and down. But we all knew that theres no other way for such investment but to go up right?
Most people are easily get scared when they see negative on their portfolio but I say thats normal. Its a part of cycle and must be experience. Theres a lot to know more about bitcoin and youll be happy you did research on it.