In crypto investing, many of us have been taught to diversify our crypto portfolio to reduce risks. The idea sounds nice and noble, but if you dont do it correctly, its practically bad. Basically, you will just be giving away free money on a cryptocurrency that might not even take off after its ICO. Worse, if the market goes to the bear territory, many (if not all) of your altcoins will take a free fall. That is not what you really have in mind, do you?
Diversifying your portfolio is only one step in the right direction. To take the second and third steps, you need to become diligent and to have foresight. In this blog, we provide the most insightful information we have gathered to help you succeed at diversifying your portfolio and earn profits out of cryptocurrency investments.
Check out our Blog for more information:
Diversifying Crypto portfolioADN CoinBy diversifying crypto portfolio, I believe you mean investing in more than one coin at a time, not just putting all funds in one right. If so, then diversifying crypto investment really helped me a great deal so far, but I do not invest in more than 3 coins at a time, so as to be able to follow up on my investment. What I normally do is, I pick 5 to 10 projects, do proper due diligence for a while, then select the best three to invest in. Also, I don't invest in so many coins at once because if for instance there is token swap, one might miss it if there are so many coins on your portfolio if you can't follow up on all.