How would you diversify your cryptocurrency for 6 months/1-2 years??
I would love to hear your thoughts and constructive criticism as I am always trying to learn!
Currently, my portfolio of coins looks like this (I am waiting on funds to transfer to buy STEEM):
WHY?
LTC- BIP 148 is around the corner and LTC doesn't seem to move with BTC, which may provide a good hedge. As more users get on the crypto train they will probably pick up on Coinbase first, as Coinbase provides a friendly User Interface, where they will see LTC. Everything Coinbase touches seems to eventually go hyperbolic.
XRP- I know some people are against ripple for what it stands for, but regardless I think it has a lot of potentials. It charges a minor fee, with lighting fast transactions. Ripple has a set amount and the fee basically gets destroyed over a transaction. You can imagine, as it gains more popularity with the banks the transactions ripple will go through daily could be in the hundreds of thousands or millions. Which means the price of ripple could inflate due to less and less ripple.
IOTA- Uses tangle technology to communicate/validate through nodes, which provides a no-fee transaction. The ICO started off at a 1.5 billion market cap, which should be the largest ICO by date. Great concept service for the future, Internet of Things.
XEM- Very popular among the Japanese, has great potential due to its technology. 100 times less power to run a node or harvest compared to BTC.
USDT- Just to have some money in the markets for BTC crashes. Thus far BTC rebounded very quickly after a crash, which makes for a nice quick gain. USDT also provides a safe place for storage to day/swing trade with.
STEEM- I don't think much explanation is needed.
Thoughts? Errors? Contradictions? I would love feedback!
Follow me I'll follow back! let's bounce ideas :)
Ethereum Classic and Golem.
A very good post. I would put a little money on as many coins as possible because they all have potential, some more than ever. You never know. I've seen coins moved 2000% in 24 hours. Some are really cheap right now so you can get a few coins for like a dollar.
Looks like a decent spread. I really need to get some IOTA myself, thanks for reminding me.
I would look at maybe adding some siacoin to your portfolio, its a blockchain based file storage tech and its pretty cheap right now at $0.019269 at time of posting. With a lot of potential, and a good dev team its worth looking atm .
I try not to sound like im shilling the coin, i just think its good tech, not a lot of coins have a product that actually works right now.
Thanks for the reply! Yea I heard some stuff about, def will check it out
It's always interesting to hear others thoughts on diversification. I'm also a big fan of bitshares. They have an awesome decentralized exchange and their transaction speed is extremely fast unlike BTC and ETH. I've heard concern regarding Ripple's circulation size as well. Aren't they holding half of the currency in reserves? I would think it would be so they can control the price somewhat so banks can rely on it's stability. Also check out Golem and BAT!
Yea I heard that concern as well. I heard something about slowly releasing it into the market but yea looks like they can use it to control some of the price action. Thanks for the other suggestions def will take a look!
You know your stuff, I'm sticking close to you ;)