Make shortcuts to directories via terminal

Make shortcuts to directories via terminal

My problem is: whenever I'm coding I work inside folders that are inside
other folders and it's a long way to type:
cd /folder1/folder2/.../folderN
I know it's possible to make a shortcut to the folder using alias. So it
would be:
alias ep="cd /Users/thi/Dropbox/CurrentProject"
My question is, where should I put this alias? Inside /etc/bashrc? Or
should I create a file called ~/.profile and place it there? Where should
I put it?