When you get your eliquid, smell it. If it smells good to you, put some in your tank or carto, and taste it. If it tastes good to you, vape it. If it does not smell or taste good to you, steep it. Check it every few days. Steeping time varies - a lot will be dependent on your taste, and how you perceive the eliquid. My daughter likes Mt. Baker Vapor's Hawk Sauce straight from the mailbox, but I have seen quite a few people here on ECF that do not care for it until it has steeped for a while. On the other hand, I prefer bakery/creamy flavors, and they, for me, need to steep a couple of weeks in order to "come into their own".
All I do to steep is put the eliquid away in a dark place for a while - I used to use an old purse with zippered compartments, now I have graduated to a small, cheap toolbox from Walmart. With 3 cats and a dog, I do not really have a good place where I can put eliquid without caps or drip tips. Some people "speed steep" using heat. Since I have never done anything like that, I will leave it for someone more experienced in that method to explain it.
This is all about what tastes good and works for you. Remember, too, that your taste will change. That eliquid that you absolutely loved at first may lose its charm. On the other hand, that eliquid that you thought was just plain nasty may become your new favorite in time. Don't forget to drink lots of water, and be sure to shake the bottle of eliquid every time you fill or top off your tank or carto.
Welcome to ECF. Enjoy.