Metta World WAR wrote:How do I get started in this? I have a large sum sitting in the bank doing nothing right now. I'd gauge my risk tolerance somewhere around a Higher-Medium (not high, just on the higher end of Medium, so almost-high.) Live in NY right now. Can change residence to Florida or New Hampshire (I'd physically move there for 6 months out of the year.) But NY residence at the time of this post. I don't want to jump in and do anything crazy until I have my proper bearings.
Wish I had a simple answer for you bruh, but I don't. I've been educating myself for 4-5 months now and there's still a TON of questions, as you can see by this thread.
I had a head start in that I already had a coinbase account and had used BTC as payment for stuff. But when I decided to start investing it blew me away just how much there is to learn. I started watching videos of the basics of the actual technology. I read everything I could find. I was also very careful about jumping in full bore. Read, read, and read some more. Watch videos by people you can stand to listen to. But whatever you do, avoid the temptation of buying anything a youtuber recommends. Keep reading and learning and it WILL start to make some sense of what’s really going on and not what the media is feeding us.
Start small obviously and open a account with a reputable exchange like, coinbase or binance.us. It's relatively easy to fund and buy your first asset. Obviously bitcoin(BTC) is the king, everything else is called an altcoin. I can't emphasize how much reading and watching you need to do to really start grasping this stuff. I love the charts and I'm really learning to love technical analysis. But it looked like straight up noise when I was starting out.
My advice, start googling and reading because this is the type of shyt that can't be spoon fed. Especially when It’s not your money at risk. Try VERY hard to not be influenced by any social media fools praising the next big thing. The more you read and learn the easier it will become to see who's full of shyt.
I'll do my best to try an answer what I can as you learn and hopefully some of the more knowledgeable brothers will help out.