Diversification is the best not only in crypto but also in life.. meanwhile such other ALTs coin you want to invest on e.g luno polka dot ada erhereum etc.
Is it better to focus on one cryptocurrency, or to diversify into others?
- Thread starter GoldenLady
- Start date
I have intentions to expand my coin portfolio. Mostly, I preferred to buy the less popular coin. These cryptocurrencies are not mostly subjected to influence by the whales. This is my intention lately around the cryptocurrency. The popular coin like the bitcoin is easily influenced.
That is also my answer. I will not just focus on Bitcoin. I also invest in cryptocurrency that has potential.
I have binance coin, axie infinity, tether, XRP, c98 and wink coin as of today.
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Spread your eggs in a different basket and hatch them differently. When you diversify your coins, it gives different yields and risks. BTC is the best coin but not always the coin to yield profit.
There is nothing wrong if you want to choose to focus on one cryptocurrency to your advantage. That will mean you will ce to study that particular cryptocurrency in and out and easily tell when to get in and when to get out.
I don't focus on bitcoin. I like coin like dogecoin, binance coin and uniswap. Most especially binance coin. Indeed a great future with binance coin. Another coin that I like is dogecoin it is just that the coin has not been doing well recently. But I know that it will still rise in price.
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Diversifying the investment is the way to go; nothing beats multiple streams of income in this period. Especially as some newer profitable coins are coming up; besides let's face it, the value of bitcoin is so high that purchasing it with the assurance it wouldn't reduce in value so much is difficult
Focusing on one cryptocurrency will not leave you a lot of profit as someone who focuses on different kinds of cryptocurrencies.
Depending an individual but for is good to focus on many cryptocurrency if actually you have more experience about it, you can focus as many as you want.
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I think it is good to focus on one crypto coin if you are able to generate more revenue from that single coin. In my case, I would focus on one coin if it is making me more profits. I would not diversify my investments in this case.
You should not be too eager to want to put your investment into as many cryptocurrency as you can. This is your money we're talking about here. Take your time, do your analysis properly then make your investment choices
Spreading your investment is not about the profit but more for the potential loss. If you put all your money in Bitcoin and the market price crashed then you have lost a lot. But when your Bitcoin holdings is just 20% of your money and the 80% are distributed to 4 other crypto coins then you have a saving grace somehow.
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If you have enough funds, it will be better for you to diversify your earnings than you'll just be holding only one coin, and when it crashes long term you'll spend time before earmmgy dividends from it.
Bitcoin is a standard cryptocurrency and is going to survive for next many many years to come. In current market situation it is not recommended to diversify to other cryptocurrencies. We don't know if after 10 years or 15 years, any of those new currencies, which are coming up, will survive or not and what will happen to them.
This is indeed a better choice, there are certain times there would be a deep in w particular coin. If you had all your funds in just that coin that would be big trouble for you then
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Focusing on one or few crypto currency is not a good idea of investment because it's like putting your eggs in one basket but it's better if it's diversified.
That's just how the market revolves it can't move in our favour just like that, we have to suffer in order to get what we are looking for in Cryptocurrency.
It is better for you to diversify cryptocurrencies to share the investment risk in crypto assets according to sentiment and also how each crypto asset on the market works. I think the best choices after Btc are Eth, Polkadot, Ltc, Cardano.
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Since I have diversified my portfolio into Bitcoin, Ethereum, Bitcoin Cash, Litecoin and ADA, I sugges you to try to diversify your crypto currency assets. This is less risky and also more profitable.
You should simply diversify because you see people diversifying from one coins to another. If the Bitcoin you've been investing in has been a good deal for you thus far, you should stick to your plan
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