Is there an ideal number of cryptocurrencies that you should own? Should you pick a handful of well-researched projects, or try the scattergun approach and invest small amounts into many different coins?
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Original date of upload: November 6th, 2017
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I found that (from my own experience) I lost track after I have invested in more than 10...
This is so true, with more than 10 it's pretty hard on keep an eye on all of them or even make the right decisions during fluctuations.
Every time there is something new that revolutionizes the way people see the world, there is going to be some backlash. I don't remember what the name of the person was, but there's a story that the person who created the device that allows people to communicate over radio frequencies was told to go to a mental asylum by his friends because they didn't believe it was possible. There will alwyas be backlash until the revolution is seen as "normal" and accepted by others. Crypto won't really be accepted as "normal", in my opinion, until big corporations and companies accept it. But then again, crypto is disrupting their playing field. So it may be difficult for that to happen since they have so much power.
got around 20 different alts and still want more,, there is too many interessing project thomas
My maximum number of cryptocurrencies for holding are 5 including btc. They must be projects that I have already studied in detail and I risk with one with little market cap but it's my small investment because it could be a shitcoin
I think you should own certainly some of the heavy guns...BTC ETH and LTC
And the buy some cheap aswell.One of them could explode and return major profits
Please bro can you help me with Upvote I wanna to buy a ticket for NY am student ❤️ @louisthomas
You have to be confident with anything you invest in. Yes, you can invest in bitcoin alone. If anything is going to stay here bitcoin it is. Ontopif it we all steemiens are owners of Steem as well.lol
You should have at least 40% in btc to have money to invest in projects that show promise and you should move the rest around low to mid market cap promising projects to try and reap the gains of any bull moves that happen or you could play it safe and not leave the top 10 or top 20.
Of course you have the be diversified. I’m invested a bit in stock market, of course anti inflammatory good and silver and I think you should hold at least three or four cryptos you belive in. But that’s just me.
Hiya @louisthomas hows things mate?
Well this is always a popular question, one with no real answer I believe. It really does come down to individuality. I personally have 17 crypto's at the mo, I sold a few recently and put the money into making some of my other positions bigger which turned out excellent and at the exact right time. I dont know if it was beginners luck or all the daily learning finally paying off.
I just made a post earlier about combining crypto, blockchain, sustainability, green energy and permaculture. Can you take a look at it buddy? If you could give it an upvote or even a re steem that would be friggin awesome.
Many thanks and keep the good work up mate :)
Done 🙂
Have a total of 27 different cryptos. But majority of my portfolio is covered by 6 different coins.
At first, I fell for FOMO all the time and would get sucked into every "flavor of the week coin" but at this point, I find I'm satisfied with a handful of projects I believe in (in addition to the Top Ten hold all year experiment I'm running).
Although I'm still tempted when I run into an interesting project!
10, the first 10, i will invest small amounts into the first 10 on the list
That's my approach too! I invested $100 in each of the Top Ten cryptos on the first day of 2018 as an experiment and will hold all year, giving monthly updates on my progress.
at least in btc and three different currencies to keep you safe in your investments.
definitely mix it up maybe a " big one" and some smaller ones , you never know the smaller ones might surprise you
i have 8 crypto in my portfolio
So many great projects to invest in at the moment and we're in the middle of an alt coins run. I have eight different coins at the mo. Definitely room for more.
hodling alot
It's never enough for me, I always want more cryptocurrency haha have a nice night! @louisthomas
@kopo483 😂
I invested in more than 10 I think 15 or so and I reduced it to merely 5 because it were just too many to keep track of them. 15 cryptos scattered over 4 different exchanges is for me a little bit too much chaos xD
So I reduced it to my 5 favorites and I am very happy with that.
Wow Love your Art ❤️ @louisthomas
Really great information too
I always wish someone would advise me to come up with the currency to invest in
Great video, thanks for sharing. I've smashed the upvote button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
@louisthomas Based on my experience, I have performed better by minimizing my portfolio to holding 2 or 3 cryptos at most. The reason being is due to the unpredictable market volatility. When I would invest in many coins, I would tend to have days where my portfolio would be a balance between gains and losses on the different coins which essentially left my overall portfolio with a small loss or gain.
Great share and very interesting question! 👍
Hey @louisthomas, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit!
At the end of the day invest heavy with the Cryptos that are no brainers given the price you bought in at or could have bought in at i.e. ripple lumens ethereum btc this winter were steals if you got into Cryptos a little later like me. With some other funds grab some coins with good ideas and people backing them I even bought some PTOY and made a profit because the idea behind it to me was important and even if they weren't the coin to go in the medical field the price would be affected given it was one of the original coins in that area. You could even snag some cheap top 25 coins like NEM, TRX, or OmiseGo which was pretty cheap compared to previous prices. I personally have Steem, DBC, DragonChain, TRX, LTC, and other miscellaneous coins. So what I'm trying to say is grab some surefire hitters and some ones that will gain traction or be something that moons if its a small investment the losses are no biggie it happens everyday in this market and the stock market just ride the wave and hop off when you think you've done as good as you could.
This is a video about cryptocurrency but is it not a good idea to diversify with non-cryptocurrency assets? It may.well be a new world and BTC , ETH and /or others may make handsome profit for a lot of young investors. However as you point out old-fashioned equities are historically proven investments. I fear that too many young investors mare 100% into crypto...which still have to be regarded as high risk investments .
how ever many your heart tells you! :) though question, great answer!
I think every person is different, for me personally I don't care about a specific number but rather the individual use-case of a project. I try to select projects that already have existing customers. With that being said, at the moment I don't see a scenario where bitcoin tanks and doesn't bring down the rest of the market. The market is not mature enough to differentiate projects based on intrinsic value, as a a consequence "diversifying" has little value... for now. In the future that will obviously change.
i dont think there will be ideal
but there should be a limit !
neither single nor much more will be beneficial enough
The cryptocurrency market isn’t just about Bitcoin anymore. There are other cryptocurrencies that have entered the space, such as Ethereum, Litecoin and Ripple. All of these have performed incredibly well over the last year.
Hi @louisthomas,
A month ago you posted a video that you stopped creating video´s with Crypto content since your opinion was that we entered a bear market untill 2020. What made you change your decision?
You background really feels amazing...