I am setting up environment variables, and after saving in .bash_profile, I gave this command:
echo "$SENDGRID_USERNAME"
After doing this, bash returned a blank line, and went back to the prompt on the following line.
This made me wonder that something is there, but maybe bash is not showing it. Or is there something else involved?
Also, do I need to have a path variable in the .bash_profile? If I do, what should it be?

After store new stuff into .bash_profile, you should run
after that changes will work, or you can login once more on your account.