Why investing in other coins is necessary

[Setho]

The journey in crypto is a never-ending one that is why you should always be on the lookout for coins that will have very strong movements to come.

 

[kayode10]

It is good to diversify someone's investment in cryptocurrency by investing in different assets. But it is very important to proper research before you can invest in any cryptocurrency. Otherwise you are going to lose your hard earn money.

 

[Richard92]

New coins are cheap and it is good decision to invest because in future these new coins will increase.

Investing in other coin is very necessary because you cannot really determine when a particular coin will rise or fall so you investing another corn is as if you are diversifying and with this you can be save by not putting all your eggs in one basket.

 

[Bousine123]

Yeah it's important to diversify your portfolio, it will also give you something to fall back to should Incase your major coin like Bitcoin goes on the dip.

 

[tyrim88]

Investing in other crypto is a wise decision but we shouldn't rule out the fact that investment has to do with lots of risk, before investing there must be at least a thorough check of the chart of crypto you're about investing on.

One of the things to look out for while investing in alt coin is the viability of the coin,and also the performance of the coins over a certain period of time,the capitalisation of the coin is also a factor as well.

 

[HayKay]

Asides the fact that they give opportunity for those who don't have finances bouyant enough to invest in bigger coins like bitcoin and the rest, some of these smaller coins actually tend to give higher returns because they fluctuate less and can grow quickly within a short period of time

 

[Justin]

When you are an investor, diversifying investment is very important, you need to diversify your investment in crypto currency by investing in various currencies. Diversifying minimizes your risk.

 

[Skysaint]

Generally, it's not good to put all one's egg in one basket, there is always a need for diversity. Personally am more comfortable with trading in other cryptocurrencies apart from Bitcoin as I get my money doubled within a short timeframe

 

[Thinker009]

Good I think investing in other coins would actually be a very good investment action from you ,I can't focus on only one investment or just one coin ,I will diversify to gain more interest

 

[tyrim88]

Investing in other crypto is a wise decision but we shouldn't rule out the fact that investment has to do with lots of risk, before investing there must be at least a thorough check of the chart of crypto you're about investing on.

That is basically the normal thing to do in the event of any reason that will call for investment into any crypptocurency trade.The reason is that the value of coin is highly volatile and proper research need to be done to be able to know the ones that are viable.

 

[greenie]

I think investing in other cryptocurrency coins is neccessary because there might be a coin worth very little now but will worth alot in the future. For all we know we might have a next bitcoin in our hands.it is true that currently the value of Bitcoin is high, but in the future we cannot predict whether it can continue to increase or not, if indeed the market price continues to increase, it is true that we will definitely make big profits.

 

[Nomad]

When you are investing in crypto currency you need to diversify your portfolio because diversifying portfolio will result in minimum risk. You will have to invent on a lot of coins can easily recover loss when few coins go down.

 

[Toyoabasi]

It is no doubt that bitcoin is heading to $20,000 and above before the end of the year base on the realities available but it comes with higher transactions fee. I feel Investing in other coins like litecoin, bitcoin cash and ripple will be a wise decision.since they are also on the rise too though not as high as bitcoin.

Yes. I also think it is wise to invest on other coins. People who cannot go for high value coins can still buy other coins like litecoin which has the potential for increased value with time.

 

[YERUS]

It is no doubt that bitcoin is heading to $20,000 and above before the end of the year base on the realities available but it comes with higher transactions fee. I feel Investing in other coins like litecoin, bitcoin cash and ripple will be a wise decision.since they are also on the rise too though not as high as bitcoin.

The way the price of bitcoin is rising these days, some people already are discouraged to buy in.
It could be a good time to steal a peak on other small coins, and see their potentials.
These coins will keep growing, so there is no harm trying them out.

 

[tyrim88]

Though the prices of crtpto has been on the downward trend for sometime,but one thing an investor should know is that this is the best time to really buy into some promising coin,especilly the ones with small value.

 

[frederick_9]

Although investing in other cryptocurrencies is a smart move, we shouldn't discount the fact that there is a significant amount of danger involved. Before making an investment, you should at the very least carefully review the cryptocurrency's price chart.

 

[Sincerem]

It is no doubt that bitcoin is heading to $20,000 and above before the end of the year base on the realities available but it comes with higher transactions fee. I feel Investing in other coins like litecoin, bitcoin cash and ripple will be a wise decision.since they are also on the rise too though not as high as bitcoin.

Those coins you mentions are not bad. They are also profitable cryptocurrency as well . The only challenge you will have is just the technical analysis to know when to invest at the right time.

 

[Emmy]

Investing in other coins is good so as to benefit from the quick rise in price. Also it is very cheap to afford rather than Bitcoin, you can buy them at small rate and sell at big rate when there is increase.