Overall, I believe that diversification is essential for any successful cryptocurrency investor. By diversifying your portfolio, you can reduce your risk and increase your chances of success in the long term.
What are your thoughts on diversification in cryptocurrency investing? Do you have any other tips for investors?
Diversification is very important. Not only in investment but also in crypto trading. I also do diversification in crypto investments. Like dividing capital for investing in crypto into several parts. And I personally divide it into investing in bitcoin partly and investing in altcoins partly. And in altcoin investment, I also divide it according to the altcoin category that I enter. Like I hold several altcoins in the AI category and I also hold several altcoins in the layer 1 and 2 categories. And I also set aside a small portion for speculative investments such as meme coins. This makes me calmer in investing.
Well diversification, it should be clear what it is, for example, for me diversifying money is, putting money in Bitcoin, real estate, a different business, having gold, having cash, investing in stocks like Disney, Apple Among others, for me that is diversification, I honestly couldn't say that things are different, when it comes to cryptocurrencies, diversifying with Bitcoin and also altcoins, for me it is not viable, let's remember what happened to Luna Maybe I'm too Pro Bitcoin, but for me BTC is king, without BTC there is no other cryptocurrency.
I can say that bitcoin is the only one that gives life to other cryptocurrencies, they can all die, but less so Bitcoin, for me Bitcoin will always stand very well in the face of anything or eventuality, as well as privacy currencies like Monero, for My, that currency has a much better life, which is still dependent on Bitcoin.