Common wisdom for new investors is always of the 'don't put all your eggs in one basket' type. Don't invest all your investment capital in one company. Diversify so that at least if one investment fails, the other will carry you through. Is there a similar type of advice for crypto currency investors? Is it better to concentrate on investment in just one crypto currency? Or should we diversify? I would love to know what others have to say about this.
That depends on everyone's strategy. In my opinion if you want to invest in the long term, then invest in one coin that you think will really be of high value if held for a long enough period of time I think that is the right choice. But, if you invest in the short term, maybe investing your money into a few coins is the right choice to reduce the risk of loss if one of the coins falls.