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RE: Why It's Important to Diversify Your Cryptos

in #cryptos8 years ago

Very good!

I could recommend you the following strategy, if you want to have 6–8 cryptocurrencies and cryptoassets:

  1. Bitcoin should always be between 40% and 60% of your total holdings;

  2. You can share the remaining part of your portfolio between:

  • 2–3 cryptoassets from TOP10 (according to CoinMarketCap). Ether, Dash and Ether Classic are all excellent choices;

  • 2 from TOP11–100. You already picked some good currencies. I can only add a recommendation to get some STEEM, transfer it to your account and power up your STEEM POWER as a form of dividend-bearing savings.

  • 1 or 2 cryptocurrencies from TOP101–1000. Your "wild cards" that could increase in price ten-fold.

Whenever one of those currencies (except Bitcoin, obviously) increases in price to exceed 40% of your portfolio's total value in USD, sell the part that exceeds 40% (sell it for Bitcoin or some other crypto under 40% in your portfolio). If one of the cryptos falls down below 2% in your portfolio, sell it all off and cut the losses.

Good luck with your crypto investment journey!! I wish you success! And remember: don't keep your coins on Poloniex, Coinbase and other exchanges! Download Exodus wallet and transfer them there.

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Wow what great advice! I think I will do exactly that! Thank you!

I'll second that!!!!