Well, personally I don't invest on one crypto coin. I invest in a few and day trade with others whenever I got the chance and time. For me actually, it's the best and more profitable
Is it better to focus on one cryptocurrency, or to diversify into others?
- Thread starter GoldenLady
- Start date
It is better to have some more investment.
Having only Bitcoin is risky because the price of Bitcoin is not so stable.
So it will be nice to make some investment on other coins like ripple, etherum and Doge.
They also have a good market value and so investing in them is also a good deal
Having only Bitcoin is risky because the price of Bitcoin is not so stable.
So it will be nice to make some investment on other coins like ripple, etherum and Doge.
They also have a good market value and so investing in them is also a good deal
Prices of all cryptocurrency do not normally go in the same direction so it will be wise for you to invest in multiple cryptocurrencies that you think you understand.
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Personally I don't see the need for you to just focus on one cryptocurrency because one cryptocurrency may not actually be profitable ,if you have more than $100 you should invest more in different cryptocurrency you see potential and.
That is one great thing about the cryptocurrency market that makes it even more attractive to people, the fact that you can invest in as many of them as you think of. So yes you can diversify
You can, yes you can!
But it depends on the person. One needs various means of earning money as we all know. It depends on an individual's schedule.
But it depends on the person. One needs various means of earning money as we all know. It depends on an individual's schedule.
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One can never sleep at one point till waking, so it will be cool if one can diversify into other cryptocurrencies and invest.
I do believe in diversity. I can't just put all my eggs in one basket, as far as there are more than one coin that has potential of rising in future, I will always make my investments on them for greater earnings
It is good to focus on one particular cryptocurrency at a time. But if you can actually focus on as many as you think you focus on at once, then fine and good. But just make sure you're doing your analysis on these currencies correctly
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Like they said. It is not good to put your eggs in one basket. It's better to diversify, invest in other coins like eutherum, solana and litecoin they all the potential to rise to the level Bitcoin.
To Me I will say you should diversite cos sticking to a coin is not advice able cos all cryptocurrency are not stable and we use them to balancing
Expert
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When the Bitcoin price continues going up for a long period of time, other the price of other tokens drop. However the opposite is also true. When you diversify, either situation won't degrade your portfolio.
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Diversify could mean many things, JT could be investing in a very different concept but if it's still crypto we should call it investing in other coins which I prefer so you can understand how the market works, and make a profit
I'll prefer investing in diverse Crypto currency like 3-4 ones that have potentials than putting all my investment in one basket.
I think diversifying would be the best option.
These currencies have the tendency to rise or fall at any time.
Sticking to just one currency is not safe.
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Focusing on one crypto currency is like putting all your eggs in one basket, if the basket develops a fault, all the eggs are gone.
It is best to diversify, invest in crypto currencies with potential to grow.
I would choose bitcoin and ethereum.
Like a wise man once said do not put all your eggs in one basket so I think it’s wise to diversify into other crypto currencies
- Thread starter
- #218
Its good to have a separate trading and holding account. Some people do merge the two though and see no need to keep them separate. It has its advantages and disadvantages too
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Well said, this is the best way to keep things in order and you can easily keep track of the what you do when you have a separate account for both instead of merging them together
Do you know that you can simply only focus your attention in only Bitcoin and still milk the cryptocurrency market? That's very true. But if you still wish to diversify into other coins, that's still an open option you also have
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