I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.
I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?
Everyone can easily write yes or not because no one is responsible for your profits or loss, you are the only one who carries the responsibility and will feel the result.
The only legit advice that I can give you if you decide to buy it is to do the research before every action. You have to keep in mind that you shouldn't trust every exchange and you also shouldn't save your money on exchange. Just use the legit exchanges to buy your coins, like Binance and Coinbase or if you plan to go more advanced and anonymous, you can use Bisq but that's not for unexperienced users. Also, always check the website that you visit and be sure that you visit a legit url.
Since you can't store your coins on exchange, you need to buy a hardware wallet or download a software wallet like Bitcoin Core or Electrum on secured computer. If you plan to hold long-term, then you should use Cold Storage, i.e. you should buy an airgapped hardware wallet like Coldcard or The Passport Foundation and/or use an airgapped computer.
Please, just spend your time to learn about how to store it safely, otherwise you may lose your coins and your savings. It worth to spend days and weeks into studying how to save them safely rather than to sorry later. Don't hurry!