Don't put all your eggs in one basket.hope you know what this means.if it cryptocurrency trading I can advise someone to focus on one cryptocurrency so as not get distracted all the time but for buying and holding you can buy other altcoins with potentials of rising.
Is it better to focus on one cryptocurrency, or to diversify into others?
- Thread starter GoldenLady
- Start date
Without potentially endangering your funds, diversifying your portfolio helps you mitigate investment risks and ensure that you meet your financial objectives. As the cryptocurrency industry continues to be a relatively new field, investors face much higher risks than those who prefer conventional investments.
I wouldn't advice putting all your eggs on one basket. Speaking from experience, these markets are not stable sometimes they fall for a long period of time and if you are feeding through that you are broke for a long period of time too
Wisen up don't do it
Wisen up don't do it
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Diversifying your portfolio helps you mitigate investment risks and ensure you achieve your financial goals without unnecessarily endangering your funds. Since the cryptocurrency market remains a very new field, investors are exposed to even higher risks than those opting for traditional investments.
Ethereum is generally excellent subsequent option after bitcoin, particularly with the surge it encountered in the previous few days. contribute what can stand to lose.. It is really basic writeed,just no one didnt read it.
It's quite a great Idea to spread your crypto currency investment across a number crypto currencies, let's say two or three.
I really fancy that idea more than just concentrating on one coin.
You can invest in bitcoin, ethereum and xrp or litcoin at a go. In that way you will be certain that all coins can't crash in value at once.
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It's quite a great Idea to spread your crypto currency investment across a number crypto currencies, let's say two or three.
I really fancy that idea more than just concentrating on one coin.
You can invest in bitcoin, ethereum and xrp or litcoin at a go. In that way you will be certain that all coins can't crash in value at once.
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When it comes to investment is never good to put all your eggs in one basket. It's better to spread the risk so that in case anything goes wrong it will not affect you totally. Cryptocurrency trading is also another means you can use to make money from crypto. Even though bitcoin is the most common there are others that you can invest in also to have a wider portfolio.
- Thread starter
- #88
It's true that diversifying is helpful. Every business owner should have plans to do so, and coupled with how unpredictable the price of cryptocurrency can be, it's a good idea to have different options.
A man who is trying to know everything will ends up not knowing anything
It's better to focus on one coin, try to know everything about the coin, try to find out about a single coin and be a professional on that coin and invest in it, you will surely never regret it
It's better to focus on one coin, try to know everything about the coin, try to find out about a single coin and be a professional on that coin and invest in it, you will surely never regret it
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Omoney
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It is not better to focus on one cryptocurrency because when you focus on one you wouldn't know when the other once ar rising to benefit from it ,the one you are fix in would be falling at that moment and others are rising,so is better to be in all not to focus on one
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Aman trying to know everything doesn't end up knowing Notting,it doesn't matter weather you focus in all because in life man does not stand in one business,you can't be a master in trading is a risk game,if u focus in one thing you never progress.
I believe it is not better to focus on one cryptocurrency because more are still coming up and raising fast so focusing on one cryptocurrency is like putting all your eggs in one basket which is not safe. Going to invest in other cryptocurrencies is the wise thing to do
Diversification needs to groom our investment. Its not important that you just invest on BTC. On daily basis make rt goes up and down. Brokers are ready to purchase low rate of currencies. ETH and Doge coin is also going up now a days.
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If you have enough funds, its better to invest in more than one crypto currency. Sometimes u can simultaneously gain from all or some price might drop while the other keep rising either way u are making profit or balancing your books
I think as a serious investor, having one or two cryptocurrencies in your portfolio is not enough. Sure the coins will earn you huge rewards when they move in the positive direction, but what happens when they both move the other direction? You end up incurring a huge loss. This is precisely why you need to diversify your portfolio to include other cryptos.
It's very advisible to diversify if you have the funds or finances to invest in multiple crypto currencies most especially a young growing crypto currency which is still very much affordable so when it grows you can be amongst those to rip where you've sown.
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Next, you can invest in different types of solutions or products. For example, you can spread your investments between newly developed blockchain platforms, new protocols, and new tools or services such as wallets or data providers.
By investing in different segments of the blockchain solutions market, you are spreading risks
By investing in different segments of the blockchain solutions market, you are spreading risks
As for me right now as a beginner I am still focused on 1 cryptocurrency and I think that as time goes on I will improve to a point that I can start trading more than one cryptocurrency at a time. It's all about experience the more experience you gain, the better you are at Reading more cryptocurrencies at a time.
An adage says that it's not good to put one's all eggs in one basket, I believe that a good investor will not depend on one cryptocurrency when there are more than enough to invest in, invest in more than one currency and you will be proud you did.
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Diversifying your portfolio helps you mitigate investment risks and ensure you achieve your financial goals without unnecessarily endangering your funds. ... Since the cryptocurrency market remains a very new field, investors are exposed to even higher risks than those opting for traditional investments.
For a beginner like me I guess it is better to just focus on one crypto currency. My choice is Bitcoin. Focusing on Bitcoin will clear the track of interference from other crypto currency so my learning will be faster. But for a veteran especially for one who is trading in crypto currency I think diversifying the investment would be better. Let's say you have 3 crypto currency for your investment when one hits a high price then sell it to gain a profit. When the 2 are going down then just let them stay.
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