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.
It is always better to diversify when you are investing that is as volatile as cryptocurrencies. There is never any way to tell how the coins are going to turn out or if they are going to end up doing well so you mitigate the amount of risks you are taking by investing into other projects which would be to break your fall in case one project does not work out