if only goal is price appreciation, cast a wide net?

feh

newbie

Activity: 40

Merit: 0

Quote from: Poink on January 03, 2018, 02:04:29 PM

I am diversified (more than 30 coins)

I have several top 50 coins but most of my "income" comes from the new coins.

How do you manage storage of so many coins? Do you leave them on the exchange?

Higher Altitude

full member

Activity: 177

Merit: 100

Hello there,

I put 60% of my money into one coin that I considered to be the safest bet that will generate high returns and also give me peace of mind. The other 40% I diversified into interesting coins where I'm willing to take more risk. But I have to mention that most of my money is in crypo since I'm not risk averse at all and still see the potential for high gains, although over a longer period of time.

After doing your due-diligence decide which coin you feel most comfortable with and at best would want to hold even if the market was saturated or crashed.

Poink

full member

Activity: 350

Merit: 122

I am diversified (more than 30 coins)

I have several top 50 coins but most of my "income" comes from the new coins.

feh

newbie

Activity: 40

Merit: 0

Hello folks.

Before I get told not to gamble large amounts of money, let me assure you that I'm not. Crypto currencies are less than 5% of my portfolio.

With that out of the way, what do folks think is an effective way to hit the next jackpot? There are 2 extremes - place a bet on a single coin, and hope you picked the big winner (ie. if you had bought ripple a year ago), or throw a small amount at a lot of coins.

I currently own 7 of the top 10 coins by market cap. This diversification has occurred over the last few weeks (I previously only owned bitcoin and ethereum). Not wanting to invest new money, my current plan is to sell small amounts of bitcoin and buy anything that enters the top 10. I don't think bitcoin is going to falter, but I do think the days of astronomical gains are over.

Does this seem rational? Are there other strategies that are generally preferred?

Thanks.

Topic: if only goal is price appreciation, cast a wide net? (Read 117 times)