Is it better to focus on one cryptocurrency, or to diversify into others?

[Skysaint]

Its good to have a separate trading and holding account. Some people do merge the two though and see no need to keep them separate. It has its advantages and disadvantages too

Merging the two ain't really bad, for me I just make use of one account for the both purpose and it has really worked for me. You can choose to have a separate account for each, depends on your comfort

 

[ahmedo24]

Personally what I do is that I use wallet like trust wallet for holding my coins for long-term investment and I use binance for short-term trading of coins.

 

[Ezekiel]

As a business personnel it is very wrong to have one constant source of income,so i say it is not advisable to onky trade or concerntrate on just one crypto currency,since the prices of each crypto varies

 

[Destinyfejiro]

It can be said that Bitcoin has the greatest attention out of all cryptocurrency.

One important question is if someone should focus on just one crypto, Bitcoin only, or to diversify and invest into other altcoins.

If so, which give altcoins would you choose after bitcoin?

There's a saying that "don't put all eggs in one basket". It also applies to crypto currency, it's better to spread your investment plan or trading.moreover, there are other alt coins such as etheruem,ADA, bnb,link,Solana,Doge and so on. So personally, I think it's better to have more than just one coin.

 

[GoldenLady]

There's a saying that "don't put all eggs in one basket". It also applies to crypto currency, it's better to spread your investment plan or trading.moreover, there are other alt coins such as etheruem,ADA, bnb,link,Solana,Doge and so on. So personally, I think it's better to have more than just one coin.

Putting all your money in one coin is detrimental but I've also suffered because I diversified too much. This is especially true when all coins were in one wallet.

 

[tyrim88]

It can be said that Bitcoin has the greatest attention out of all cryptocurrency.

One important question is if someone should focus on just one crypto, Bitcoin only, or to diversify and invest into other altcoins.

If so, which give altcoins would you choose after bitcoin?

One of the investment strategy one should always follow expecially when it comes to the trading of cryptocurency is to always diversify,because the market is very volatile and investing in only one coin is not actually the best.Solana ias a good coin as well as etherium.

 

[Kingstone]

Invest in one coin and leave it be. If it is profiting off, you can sell part of it to start trading or any other good investment. If you want to buy coin again, don't try to spread your money on altcoins if Btc is okay.

 

[ganibade]

Is good to diversify when you are trading with free Bitcoin alongside ethereum and litecoin it will help you to make a tangible outcome when you are trading with this currency it will make you to know how you are going to found your account on each cryptocurrency

Post automatically merged: Oct 30, 2021

Is good to diversify when you are trading with Bitcoin alongside ethereum and litecoin it will help you to make a tangible outcome when you are trading with this currency it will make you to know how you are going to fund your account on each cry

 

[Ezekiel]

I will never advise any body who really wants to make money to dwell on only one source of income,so there fore it is advisable to dwell on more than just one crypto currency, because it value rises and falls

 

[tyrim88]

It can be said that Bitcoin has the greatest attention out of all cryptocurrency.

One important question is if someone should focus on just one crypto, Bitcoin only, or to diversify and invest into other altcoins.

If so, which give altcoins would you choose after bitcoin?

It is always good to use one of the coin to really understand how the cryptocurency market really work and operate,but there are a lot of other coin like solana that are doing very well in the market and investment in them should actually be a long term project for you to really maximise your gains.

 

[tusziget]

I think it's good to invest in other altcoins as well, because each of them increases in value over time. So you can make a lot more profit from cryptos. And the withdrawal fee at altcoins is more lower than at bitcoin.

 

[Skysaint]

I do believe in diversity. You don't need to get stuck with just one coin while you could be a little bit more versatile and get to profit from it. Once I see that a coin is getting bullish then I would have to make a swap

 

[Abigael]

When starting out in cryptocurrency trading, I prefer to focus on one cryptocurrency. That way, you can have enough time to learn how to analyze and predict price changes. Then with time, you advance gradually to more cryptocurrencies.

 

[eLdavis]

I do believe in diversity. You don't need to get stuck with just one coin while you could be a little bit more versatile and get to profit from it. Once I see that a coin is getting bullish then I would have to make a swap

Many persons today tend to go for only Bitcoin with the mindset that whatever happens to Bitcoin would affect other coins either positively or negatively, hence no need in trying out other coins. How true is this?

 

[jeff87]

Well I do believe in not puting all your eggs in one basket. Diversification is necessary. There are many other coins you can invest in after bitcoin.
ETH is a very good example of such

That's true. A person can choose to diversify his or cryptocurrency assets. If you live in a democratic country, you can choose to have only one or multiple assets of cryptocurrency. It's very unfortunate if you live in a country where cryptocurrency is banned. You don't have the freedom to choose what kind of cryptocurrency you like to buy.

 

[tyrim88]

One thing i have come to observed in the cryptocurency market is that,though the price of some alt coin follows the fluctuaton of bitcoin,but not all,so it is very good to invest in some prospetive alt coin so that when the value increases you can actually get a good reture from you nvestment on time due to early buy.

 

[Bookwormlux]

It is best to invest in only popular crypto currencies that have value instead of just anyhow diversified investment. Coins like Bitcoin and BNB are the best.

 

[Bousine123]

Diversifying into other crypto currency Will be good for people that have enough money for investment but for some one that don't have enough money,it will be better to start with the most valuable currency.

 

[Smiles20]

Cryptocurrency is usually divided into different types depending on their utility and it will be wise for you to invest in the various sectors so that you can stand a chance but you should not over expose your portfolio.

 

[greenie]

In money market or crypto currency exchange Business, the best thing for investors is to diversify his or her portfolio just to minimize risk. Aside Bitcoin there are other altcoin you can look into like zonga coin, litecoin, Bitcoin cash and Ethereum. These are good coin to buy if you think you want to diversify your portfolio.