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Always invest in different cryptocurrencies

  • Thread starter Thread starter BrolySSJ
  • Start date Start date
BrolySSJ said:
It is extremely important that when you get into investing within the cryptocurrency field that you diversify your investment. It is natural but when you see a single coin increasing in its value that you tend to want to buy as much as possible of the coin for future increases that it may experience. However the cryptocurrency world is very volatile and a coin is increasing in value can drop steadily in its value or significantly and its value within the space of a few hours. Therefore it is not advisable to put all of your eggs in one basket in the sense that your entire investment goes into a single coin.

I recommend that you invest in various different coins that do have a promising future, so that if a single coin drops in its value you are able to make up for that drop by any increases in the other coins that you may be holding at that time. In this way you are able to manage the losses that you make and you are also invested in different coins which could lead to much higher future profits if you have chosen the coins correctly.
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I just thought about having me cryptocurrencies in your wallet recently and I think it is the best idea. If you lose in some you can make up in some other cryptocurrencies. thank you so very much for this idea and it will be really helpful for a lot of beginners like myself.
 
BrolySSJ said:
It is extremely important that when you get into investing within the cryptocurrency field that you diversify your investment. It is natural but when you see a single coin increasing in its value that you tend to want to buy as much as possible of the coin for future increases that it may experience. However the cryptocurrency world is very volatile and a coin is increasing in value can drop steadily in its value or significantly and its value within the space of a few hours. Therefore it is not advisable to put all of your eggs in one basket in the sense that your entire investment goes into a single coin.

I recommend that you invest in various different coins that do have a promising future, so that if a single coin drops in its value you are able to make up for that drop by any increases in the other coins that you may be holding at that time. In this way you are able to manage the losses that you make and you are also invested in different coins which could lead to much higher future profits if you have chosen the coins correctly.
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Of course we should never invest in a single currency that could ever come down to a price that could hurt us, so I suggest that we invest and invest in separate currencies. So that we can get maximum benefit and we can make good profit and the points you have written are very strong and good.
 
I also agree that diversification is the key in whatever investments one may be into and cryptocurrencies is no exception. If done rightly, the risk is minimized and the profit is highly guaranteed because in the case of any unforeseen situation for one coin, you could still break even with the others.
 
Investing in cryptocurrency is similar to exchanging your money in a new country. Bitcoin, Litecoin, and Ether are a few examples of “foreign currencies” that work in a very specific context within certain online communities.
Exchanging any type of currency is built upon shared trust. We value dollars and Euros because we know that we can purchase goods or services with them.
 
Diversification not only in Investment but also in Cryptocurrencies is a very sound idea, it's not wise to keep your all eggs in one basket, Diversify your portfolio on Cryptocurrencies will give you a hedge and help to minize loss.
 
I agree with you, any Cryptocurrency investor should not only focus on 1 coin. They are missing out the growth of other highly potential coins out there, i sometimes investment on a cheap coin just because i feel like it without doing any research about it. I don't recommend doing that but im getting lucky by doing that method. Just last December i invested in Klv despite knowing nothing about it. Today i was able to sell my Klv coins for double my initial investment on it.
 
I have always had this plan to diversify my cryptocurrencies because I feel just investing in one Cryptocurrency is not adequate for someone that hopes to get much profit and lessen the chances of loss in their investment. To reduce the risk of loss in a Cryptocurrency,it's very important that one should diversify their investment portfolio in cryptocurrencies.
 
Yes, so true but what of us that are still new to all these Cryptocurrency world or forex trading. We are yet to digest the wave of Bitcoin and the likes. Well, it's still a good business reasoning, maybe you guys should start writing about these new ways of Investing because saving money and not Investing is foolishness.
 
You are right, it is good one spread his/her capital on different cryptocurrency instead of investing all your money in one crypto which may fall your hand, because crypto is u-predictable and so investing in only one coin is not good at all..
 
Even aside crypto currency exchange Business, in any business one is putting money it's very important to diversify just because if one Business isn't doing well the other business will be able to balance the Investors portfolio. If a good due diligence is done I know all the business can't go down at once
 
It's very good for a person who normally invest in different cryptocurrency, because the value of the crypto currencies are different, so if you invest in different cryptocurrency, you might be lucky that the ones you invested in are increasing
 
If you want to buy crypto and hold I don't need there is need buying multiple in stead find profitable coin and buy, so incase you see another one that is profitable you can swap your coin from any coin to other coin.
 
Concerning investing in different cryptocurrencies. Well, I see it has a good and nice idea to invest in order cryptocurrencies and not just rely on just one, though you might think that one cryptocurrency you invested rate is always increasing but you never can tell what will happen next because it is volatile in nature, invest in upcoming coins too which are still low in rate now
 
I like the idea of crypto currency investment but whose gonna put a novice like me through? I've never invested in it before and would love to have someone to guide and put me through.
 
You're absolutely right on this, it is always advisable to always invest on different cryptocurrency. This is what I'm currently into, I have already invested on etherum, lite coin, XRP, bit coin XLM and doge coin and I planned investing on them for a long term investment.
 
Yes,I couldn't agree more with you on this,it's always good to diversify your investment especially when it's in crypto currency so as not to loathe all your money. Investing in such helps to spread your risk. You must be informed before making this decisions.
 
According to my own point of view, I believe it good to invest but in the case of investing on all crypt currency I don't think it good, but still it base on your financial standard. If you are financially stable you can invest in all crypt currency
 
Investing in different cryptocurrencies is one of the ways to profit in the crypto world. Let's not forget that the much celebrated bitcoin crashed to a misreable low price and value some times ago, and many people sold their coin in a hurry to avoid further losses. The cryptocurrencies world is full of intrigues and suspense but investing into different currencies will keep you sailing on your boat when the floods come.
 
Investment is very risk but I think it is bigger risk to invest all money in one crptyo currency. I think investing up to three or four crptyo currencies are good ideas . It will definitely help to increase money. If we have all our investment in one crptyo it means we are on risk . If we have in different crptyo currencies it is very possible that we safe our money.
 
Yes that a good idea and also a big idea. You just gotta be tradewise/investwise
 
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