There are so many promising memecoin in the crypto space. One of them is the CRO by crypto.com. this coin has made a remarkable increase in price. The strong buying pressure indicate a strong bullish run.
Is it better to focus on one cryptocurrency, or to diversify into others?
- Thread starter GoldenLady
- Start date
Investing in different coins in the same cryptocurrency market is not diversification but simply spreading and I think it's better to have one coin know how much you make with it than spreading because a coin mignt be doing better than others.
Well, as a business man, it's not advisable to stig to a particular form of trading or a particular business but you have to spread your over other forms of business which will also generate some amount of money.
Focusing on one form of business or to focus on crypto alone, is not the best option and it's not advisable most especially to someone who want to make it in life.
Focusing on one form of business or to focus on crypto alone, is not the best option and it's not advisable most especially to someone who want to make it in life.
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Diversifying on cryptocurrency investment means more risk. I can't just see myself holding too many crypto because of its volatile nature. I prefer to hold just one cryptocurrency.
Cryptos are a very volatile market. We never know, when a coin would skyrocket. It's better to be diversified and be invested in many coins. Even in meme coins, since these coins have the largest potential. They can skyrocket and can turn a mere $500 to 1$ Million. Have a good crypto portfolio, have stable coins like Bitcoins, Ethereum, Polkadot, and also have a few meme coins such as Doge & Shibu.
I don't really like diversification in cryptocurrency. I could do this with stablecoin but definitely not with the volatile cryptocurrencies. Extending my cryptocurrency portfolio to stablecoin is better.
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Diversifying the volatile currency is not a wise decisions at all. The major thing is to keep the one of the cryptocurrencies. You have to check for the promising one.
This is just just the simple truth . You will be putting more risk on your funds if you diversify your cryptocurrency portfolio. I wll prefer to do the diversification if the cryptocurrency is a stablecoin.
Their is no way I can direct my focus on a single coin, I am diverse in nature, I read through the market chart, spot different cryptocurrencies and pick out the potential ones, to invest on, short term. I don't go long term ever since crypto started its recent up and down trend within short period of time.
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Actually in my personal opinion if I have the financial strength, I will not only invest in a single or a particular cryptocurrency but I will diversify the money I have into different accounts.
Diversification is very good in cryptocurrency but then you should not do it in such a way that it is going to overexpose your portfolio. Having less than five to six coins is usually the way to go.
The stablecoin is better in diversification and it's not wise to use the cryptocurrency as a diversification. The major thing is that one need not diversify cryptocurrency because of it level of volatility.
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I believe that focusing on 2 to 5 cryptocurrencies at the same time is going to ensure that you do not take too much risk and at the same time you are not going to go over exposing your portfolio.
If your argument is on the volatility, you will be able to save your fund from the volatility of the cryptocurrency by storing it in stablecoin. It will ensure the stability of your money.
That is why the stablecoins was created. It is used basically to keep your digital currency away from the cryptocurrency market. The major thing is that you could store your cryptocurrency on stablecoin.
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Its not really good to focus on crycurrency its good to spread out in different way to start making money from it, because is not really good to focus in one investment if you have the money.
Diversifying on cryptocurrency investment means more risk. I can't just see myself holding too many crypto because of its volatile nature. I prefer to hold just one cryptocurrency.
If you have enough money to risk, you could still diversify your cryptocurrency portfolios. I will advise to always use the stable coin channel to do all of all your cryptocurrencies activities.
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I believe that the less cryptocurrency that you are holding in your wallet the better for you to be able to make it. You can decide to hold at least three or four that you think have a very high potential.
The basic truth is that diversification will give you more profit and also it means that you will have to incure more losses. This is basically what is really happening around cryptocurrency.
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