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

[zelalem]

Diversification is a higher desire which should be observed up with the aid of using a terrific studies into the cryptos you prefer, for me i've a few btc and eth and presently reading the chain link through coin market cap internet site and different professional forecasts. Also doing properly is dogecoin and wesa. You could make extra studies as regards all.

 

[Lens]

It is good to diversify earnings on cryptocurrency by buying more of coins. But you should know that the more you buy more if the cryptocurrency, the more the risk.

 

[Sincerem]

The basic truth is that diversification will give you more profit and also it means that you will have to incure more losses. This is basically what is really happening around cryptocurrency.

In other to diversify you will need to have a substantial amount of capital so you can invest more to guarantee more profits. But you still have to be aware that you can still incurr losses in the process.

 

[Ononivami]

In other to diversify you will need to have a substantial amount of capital so you can invest more to guarantee more profits. But you still have to be aware that you can still incurr losses in the process.

Diversification comes with a lot of risk and one just need to be very ready to face the consequences of the risks that comes with the diversification. Because cryptocurrency is a very risky venture.

 

[Setho]

If you are having the money and what it takes to be able to research in cryptocurrency then it is going to be a very good idea for you to invest in multiple cryptocurrencies.

 

[Setho]

I am definitely not going to advise you to put all your eggs in one basket and at the same time I will not like a situation in which you are overexposed so everything around 3 to 5 cryptocurrency at a time is okay.

 

[Lens]

When it comes to diversification in cryptocurrency one need to be very careful because the amount of money you are risking with such trading move would be very high.

 

[Ononivami]

It is always better to diversify ones investment portfolio in cryptocurrency but the risk that is involved is very high. one need to have a very good knowledge around it before delving into it.

 

[Setho]

Diversification is what I'm going to advise you to do but I am certainly not going to advise you to over diversified as well. You should only keep cryptocurrencies that you have done strong research about.

 

[Smiles20]

The cryptocurrency industry is one that is volatile and has a lot of opportunities so you do not know which one is going to work for you. This is why you should have multiple cryptocurrencies instead of sticking to one.

 

[Ononivami]

I am so much in support of investing and so many digital assets but the only setback that I have with this kind of investment is the risk that is involved because the more you diversify the more risk you are willing to take.

 

[tyrim88]

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

I think that is the thing that is behind the investment wisdom of diversification,because it will be very good investment-wise to diversify some of your inveestment into other coin with less value,as its value can take a good furtune.

Diversification is a better choice which must be followed up by a good research into the cryptos you prefer, for me i have some btc and eth and currently studying the chainlink via coinmarketcap website and other expert forecasts. Also doing well is dogecoin and wesa. You can make more research as regards all.

That is definietlly the best moves to take when one wants to diversify his investment into other coin,because one need to do proper research on the viability of a particular coin he wants to invest in,that will help him in decision making.

Diversification is a better choice which must be followed up by a good research into the cryptos you prefer, for me i have some btc and eth and currently studying the chainlink via coinmarketcap website and other expert forecasts. Also doing well is dogecoin and wesa. You can make more research as regards all.

That is definietlly the best moves to take when one wants to diversify his investment into other coin,because one need to do proper research on the viability of a particular coin he wants to invest in,that will help him in decision making.

 

[Swazykid4all]

I think for someone to be flexible in the market is the best thing because you never can tell which coin or currency can favour you. Chasing one coin isn't favorable cause you may not even have it.
Diversifying isn't a bad idea as it is not good to put your head and heart in just one crypto coin, you never can tell the coin that may turn out to favour you.

 

[Bigron]

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 much better to invest in different cryptocurrencies. As the saying goes “ Don’t put all your eggs into one basket “ so it would be a wiser decision to be more varied in your choice of crypto investment

 

[Nat]

Diversification is key. Each cryptocurrency reacts differently. One goes up and another goes down. So if you diversify, you get a safety net when things go badly. Beware

 

[Genie01]

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?

I'd say it largely depends on your personality.
Some people can be able to go through the stress of checking diverse coins almost at the same time and effortlessly.

Whereas some are better of with a single cryptocurrency and are not good at multitasking.
The bottom line is to know what works for you and do it!

 

[Imran_Noori]

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 has low risk and also low profits but other cryptos like ethereum, avax, matic polygon, egld and ... will hive you good returns because of their potential.

 

[UsmanAmoyo]

It is good to diversify and not stay glue to one coin.
Diversification offers the opportunity for one to study how all coins move in relation to each other and it can be used to strengthen our analysis and tendency of profiting in the industry.

 

[Lynaia]

A normal human being would want to diversify and make it from other things. Most of the world richest men and women didn't get rich from crypto. Many people are just talking about crypto because it's the future but crypto is not the only thing human being are preparing for the future

 

[Syldan]

Well personally I think, if you are a crypto trader, is not advisable to focus on just a single cryptocurrency or coin but you should be able to diversify your trading so that you may not be at risk when market fall.