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

[ahmedo24]

Its better to put your eggs in different basket than putting all in one. If anything goes wrong, then you can still have something else to fall back to.

That is true in fact I don't like the idea of investing and just one coin I have invested on different coins and we are eating good results especially new upcoming coins listed on binance.

 

[Abezol21]

Diversifying your portfolio is important, especially at this time when market is fluctuating. Investing in other coins such as shib,doge and ethereum will help to minimize investment risk.

 

[Senator]

Focusing on one particular cryptocurrency at a time or all of the time doesn't really matter, so far you are getting value for your money that is what is most important

 

[richee84]

There is a lot of risk in the concentration of resources into one business, though it also have it own advantages but diversifying ur resources into different cryptocurrency reduce the level of risk involve in it. Diversifying is a way of controlling risk and reduce loss.

 

[Bookwormlux]

I have been buying some kind of coins that do not seem to have any value at this time, though I am making such that I only go for those that have potentials for the future.

 

[Sotherefore]

Although there are cryptocurrency that do not have anything valuable to offer in the cryptocurrency system but even with this you should try as much as possible to select the best cryptocurrency and invest on as many as you can afford but do not concentrate in one crypto currency, it is not the best option.

 

[Senator]

If you see a need to diversify your focus on Bitcoin investment to some other altecoins, I think I will choose to focus on ethereum or Litecoin as the case may be

 

[Chibson]

You will not make reasonable amount of money if you only focus on one cryptocurrency. If you want to make money from crypto currency you need to buy other cryptocurrencies because some has a lot of future.

 

[Ralphjoe]

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.

You have said it all and I would like to add this little to this that diversifying one's portfolio will definitely minimise the risk someone will face in their investment and this is the same thing that I am normally do in all my investment drive I don't put all my eggs in one basket.

 

[Setfragil]

Actually bitcoin have all the attention in all the cryptocurrency and it is arguably the best among all the cryptocurrency. There is nothing if we diversify into other cryptocurrencies and at the same time invest in bitcoins.

 

[Chibson]

If you want to make it in cryptocurrency, focusing on only one particular cryptocurrency will not to give you a lot of gain. You need to venture into various cryptocurrencies.

 

[Kunkun]

Either way isn't bad actually, but would still prefer to diversify my revenues so that when one isn't doing too well there would be another to fall back on

 

[McIrx]

Even the biggest investors in the world always diversify. As interesting as bitcoin is it will still experience a bearish market which there won't be an appreciable gain for months. What happens when the bear hits bitcoin? Having more than one altcoin is highly essential.

 

[Snazzy001]

It is never advisable to invest only in cryptocurrency because it is not all the time that you can make money for me due to the fact that it also has its bad days

 

[Bookwormlux]

It is never advisable to invest only in cryptocurrency because it is not all the time that you can make money for me due to the fact that it also has its bad days

Even the other alternatives that one may want to consider are not secure as all Crypto Currencies are volatile in nature. So that's not a just excuse yet.

 

[kayode10]

There is nothing bad in spreading your eggs across different basket. there is safety in diversification but the profit margin is at the minimum because you are playing it safe. If you ways to make more money you have to face one currency and master it inside out.

 

[Aaron625]

Its better if you have more than 3 coins in your portfolio. I prefer bitcoin , ethereum and binance coin to be the priority followed by xrp, ltc , and then some new potential coins like ada .

 

[jeff87]

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?

Bitcoin is everyday the favorite coin of traders. It's always number one in the list of coinmarket cap. I suggest you should not only trade in Bitcoin. You should also buy and sell into etherium and dogecoin. This is for the purpose of balancing the digital assets. If you lose a trade in Bitcoin you might cover it up through etherium and dogecoin.

 

[Yusuf]

As an investor the best way to expand your money to make more money is to diversify. If you can diversify in different Business it will really pay you if one is doing well, the other will definitely do well no how

 

[Niftyyem]

Bitcoin is an excellent investment tool especially when you have huge funds but it is also good to add some solid coins to it especially those whose recovery are quite fast.