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Always invest in different cryptocurrencies

  • Thread starter Thread starter BrolySSJ
  • Start date Start date
It is great to always invest on different cryptocurrency, it is the best form of investing in cryptocurrency and minimizing your risk, but at same time things could still go sour just as it went sour for me last month despite investing on a lot of crypto. They all depreciated massively same day.
 
It is so true, alway invest in the unknown coin, even n if it is 1000 naira worth. Some coin do gain 1000 percent overnight and if you calculate that, it is over a million naira. Just 4 days ago an unknown coin gained 1496% which is huge.
 
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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You are right we should never spend all our money on buying corrupt currency. Sometimes the prices of cryptocurrencies fall sharply. If that ever happened then suddenly the price could go down. Conversely, if you buy different cryptocurrencies, we can save you all your money. I've been working for a while now and I've always wanted to buy more currency at a time.
 
We've compiled it ourselves, but there are other reasons why digital tokens can be added to this list.
Ethereum (ETH) ...
Litcoin (LTC) ...
Cardano (ADA) ...
Polkadat (DOT) ...
Bitcoin Cash (BCH) ...
Starry (XLM) ...
Channellink ...
Binary Coins (BNB)
 
Cryptocurrencies are digital currencies that can be used for some online money transfers and purchases and a few rare offline purchases. Bitcoin is the most noteworthy cryptocurrency, but it is not alone in this new frontier. Bitcoin is not backed by a major government or asset, so the value is based on others' willingness to use and trade the currency. It is possible that Bitcoin will double in price, but it is also possible it will fall to zero. Because they are not backed by a government or asset, Bitcoin and its cousins do not really represent anything. They are only worth what someone is willing to pay for them.
 
Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs.
A cryptocurrency, broadly defined, is virtual or digital money which takes the form of tokens or “coins.” While some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.
 
The crypto currencies only started here. It's childhood. Investment is like any other investment, but it's a very volatile market. You start your investment anytime. You can invest in it, but make a thumb rule. Invest the money you are willing to risk and don't invest the money you need over a short period of time.
 
The best cryptocurrency to invest in depends on your own, personal preferences and overall financial situation. Are you looking for a short-term, or long-term investment? Do you like to take too much risk, or play it as safe as possible? About Prices - Do you plan to spend too much, or do you just have an initial budget? Also, each cryptocurrency is different. It is important to find the time and research that you think is best.
 
I think it is true that one kind of currency should never be bought. There are many types of tea veto currency. We should not buy different kind of currency because if e-currency is used.If it happens, the other currency will bear the loss, so the currency should never be taken in one piece. Oh, the more corrupt the currency, the better.
 
Khizar iqbal said:
I think it is true that one kind of currency should never be bought. There are many types of tea veto currency. We should not buy different kind of currency because if e-currency is used.If it happens, the other currency will bear the loss, so the currency should never be taken in one piece. Oh, the more corrupt the currency, the better.
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Why did you link corruption of a currency to it being better? This personally does not make any sense to me, because the more corruption that there is in a coin, first of all it becomes extremely illegal and second of all there is a large risk that will be associated with that coin as well and its price fluctuations. Can you please elaborate more on this part of the statement.
 
Yes... It is very Paramount as individuals to invest in different coins. It reduces the risk involved. Look at it in every way, you're going to find out it's true.

No matter how much you love a coin, don't invest everything in it. Diversification is good.
 
Investing on crypto currencies is a very wise decision but if u really want to make so much profile off crypto then try and invest in different kinds not just one
 
It is wise to invest in many crypto currencies at it is the surest ways to multiple streams of income. But it can be done if you have the capital for investment.
 
Yes we should not invest in only one crytocurrences,we have crytocurrences like dogecoin Bitcoin, litecoin and the rest you need to buy different crytocurrences when any one of them rise you sell it and be waiting for another one too.
 
This fact is true in all investment venture,as it would be very risky to put al your investment into one portfolio.It is good to spread your investment into other cryptocurency as you will not totally loss in the case of downward slide in value of a particular crypto.
 
tyrim88 said:
This fact is true in all investment venture,as it would be very risky to put al your investment into one portfolio.It is good to spread your investment into other cryptocurency as you will not totally loss in the case of downward slide in value of a particular crypto.
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It is good to always invest in different cryptocurrency this is because most times some people currency appreciate why or does depreciate it will do you more advantage when you invest in different cryptocurrency.
 
Whether you realize or not, when bitcoi starts going down all of the currencies also start going down. Therefore, I think you may not benefit by investing in different currencies.
 
Investing in different currency actually gives you a higher chance of earning more profit and making it in the crypto world. There are times whereby as one crypto currency decrease in value, the next one increases. So its best to actually invest in more than one.
 
Investing in different crypto currency is definitely a smart move because not all are dependent upon themselves so when one isn't doing to well there could be another to fall back on
 
I think it is good to diversify but from my personal experience, I wished I invested in only two or three solid projects before the crash, so that I wouldn't have to wait around for all coins to rally again before getting my profits.
 
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