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

[CeeJase]

First mistake you need to avoid in your life is to put all your eggs in one basket because with a single shock, you can lose everything you've ever worked for. So diversify! Have a max you can invest in a particular scheme and find another source of income flow.

 

[Draysongz]

It is good and advisable to invest in multi currency in the crypto currency market. You can't base your investment just on one coin. You might end up losing your money when that coin starts to dip. So diversify your investment in the crypto market

 

[MercySmith]

I believe it is best to spread your horizon when it comes to dealing with cryptocurrencies. Some coins can give you as large as 3000% in less than a week. Bitcoin can hardly give you such amount of profit.

 

[Bkoks]

Yes, you are right.It would be better if one to diversify into other cryptocurrencies than continue dealing in one since these cryptocurrencies rise and fall, it shouldn't be that the one you intend on investing on just all of a sudden fall leading you to a huge loss but when you're into more than one there would be a counter in place of fallen value of some

 

[springtech]

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 is huge money in cryptocurrency space generally, the potential is huge and still relatively untapped.

While we admit there is so much money to be made in bitcoin , I believe there is much more money to be made in the crypto space as a whole.

Just a while ago i saw a post from a crypto boss who said his $1000 just became $90,000 with an altcoin.
That's so so huge.

 

[Debola]

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 advisable to divest into other Cryptocurrencies to be able to reap from the profit prospects they portend. I would investors willing to diversify to go for Ethereum, it has great prospect for great return on investment. It's true that diversifying is helpful.

 

[Jlife]

I personally do not only invest on what type of cryptocurrency as at now I have invested in almost 15 different type of cryptocurrency which I'm still expecting it to go up so that I will get some interest and make some money from it, because that is the function of crypto investment.

Post automatically merged: Feb 4, 2021

I personally do not only invest on what type of cryptocurrency as at now I have invested in almost 15 different type of cryptocurrency which I'm still expecting it to go up so that I will get some interest and make some money from it, because that is the function of crypto investment.

 

[Thosynho]

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?

Focusing on one crypto currency is likened to putting ones eggs into a basket which can be dangerous. If you have more than one crypto currency investment, it helps you in case one is not doing well in the market the other may be doing well.

 

[Gabriel]

Nice question because it will actually let somebody to know the important of not putting their head in one basket,I can boldly say that Bitcoin is the most popular cryptocurrency in the world because people do pay attention to it, and in investment the higher your capital the higher your profit ,so those that have money to invest in Bitcoin do go for it and I support them, but I will urge them to also invest in other cryptocurrencies it will actually expand their profit at the end of the day,so I will say paying attention to only one of the cryptocurrency is not advice able

 

[Michaellee]

It won't be adviceable to out your eggs in one basket. Investors don't invest in one place ,they study every signal and they will be able to predict with coins will increase so with enough research will aid more profit.

Post automatically merged: Feb 4, 2021

It won't be adviceable to out your eggs in one basket. Investors don't invest in one place ,they study every signal and they will be able to predict with coins will increase so with enough research will aid more profit.

 

[Xerryl]

Me i personally don't have and i don't invest on only one form of cryptocurrency,i go for all other cryptocurrency because I believe that there will be a time in which a cryptocurrency that doesn't have value now will have value in the future,that's the reason I go into investment on different type of cryptocurrency.i think you should follow my step and thanks me later

 

[Diddi01]

It is not a good idea and there are so many risks that comes with focusing on one crypto coin only. It is good to diversify with the hope that other coins have a great future too. If one coin does not go up then another coin will.

 

[Asma]

i prefer diversifying in currency because if you invest only in bitcoins there are risk, so always invest in different currency like ethreum, doge, but before invest in any one firsly know every thing of currency

 

[zenith]

I think you have given me an idea of what to do now.i want to go into cryptcurrency currency trading and I will try and focus on one currency instead of many at the same time.i will use this method for one month and see how it goes.thank you for this idea.

 

[Sammyesx]

Trading more than one cryptocurrency is a good idea, Cryptocurrencies rise and drops at same or different times, when one is on the rise the other might dropping. So if you have more than one coin you can be able to benefit from both or quickly shift to a coin that is on the rise when the other is falling.

 

[Clara]

Definitely. I think that the choices that you make on your coins Is very important as well though. If you are invested into many new low cost coins that are unreliable then you are likely to lose a considerable amount if the coins go dead. However if you invest in a coin that has high risk then you chose invest in something like bitcoin where you can be assured that with time you will be able to make up your losses.

 

[Hena101]

As long as taking financial decision is concern having a single stream of income is bad. Even though investing or trading cryptocurrency is good and giving a good return having or source can help you reach some setting personal goals and also give you experience in other aspects of finance. So to me diversifying your streams of income is good than just doing one thing

 

[Felixko]

There is a saying that, don't put all your egg in one basket. i therefore prefer diversifying my cryptocurrency investment than been with only bitcoin. this is because it can help you to cover your risks if the price of others is low at the time you want to sell.

 

[Dowenship]

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?

Is better to diversify ooo because if one crypto currency stood stagnant the other currency will increase or yield profit and if the its the vice versa tge initial one will yield it profit. Is more better than doing one currency.

 

[GoldenLady]

Is better to diversify ooo because if one crypto currency stood stagnant the other currency will increase or yield profit and if the its the vice versa tge initial one will yield it profit. Is more better than doing one currency.

It's certainly better to diversify, but I've seen noobs make a lot of mistake in investing.

Its not easy to predict which coins have potential fast, so without guidance, onne can lose money on shit coins.

This is when it's advisable to hold only one or two coins first.