Topic: Secure your crypto wealth by not having it all in crypto (Read 473 times)

I think op's concern was not about scam projects but to invest your profits from crypto into offline businesses or anything like that. The last ledger exploit shows us nothing is air tight secure and if hardware wallet like ledger is exploitable then other type of wallet can also be exploited. So if you keep all of your funds in a single hardware wallet and one morning you see that your funds have been drained from your wallet, then that will be a bad scenario for you. So keeping some wealth in the offline world can give you relief if anything like that happens.

Their are lots of fake and scam projects in the market,  it is not all projects that is worth investing,  their is no need to have every coin in portfolio.  Research should be made to know the real and good coins that is worth to be invested in and not to just pack in scam projects all in the name of investing which will end up to be big lose for you. It is better to invest on the few reputable coins and have rest of mind than to invest on the ones that won't make any good results.

First important thing is the selection of beneficial coins and second important thing is to keep it save because if selection takes place wisely but we failed to save it then matter will be same and we will loss money. Try to use different wallets to keep your asset secure and also don't forget about your keys as without these you cannot access to your coins.

Diversification is important and through it you can decrease dropping of money but start this process with putting large percentage in top coins like that of bitcoin and ethereum after which half of the cash should be put into other successful altcoins like solana, Pepe and XRP after which you can choose little percentage in new coins because new coins has no identified future so as a result of its sudden increase you will be gainfulness but once it get reduces then deprivation will not be more than your affordability.

Even thou I agree with you to some point that it's a must that we have to diversify our investment but it's not for the sake of wallet security but for a life time security, to protect ourselves from unforseen circumstances that might raise when we do not expect them.
Instead of regretting our actions investing in one  thing it's good to separate them into classification as one of the x members suggested.

Thanks for your contribution.
it's necessary to diversify investment from virtual assets to physical assets which you referred to as plan B, it's also a good ideal from you. I have plans of investing into things like real estate as a physical asset but that won't be a fast decision as time factor is to be considered and income

Diversification is the key and this is no joke. Always have backup plan if anything goes wrong. That's how I operate. When I am finished with troubles, I should always have something else to cover that up. Putting all your eggs in one basket is a disaster when something goes wrong. Imagine dropping that basket from a high place. All of the eggs will break. That is why keeping them in separate basket is the way to go.
If one of the basket falls, the other basket should remain intact. Having all your investment into different kind of cryptocurrency is not bad but why take the risk when you have other options in hand. Invest into what you can see touch and feel.

I think you were talking about diversifying the investment not income. Although it is safe to have multiple income-generating sources, if anything wrong happens with your main income source there can be a backup. Only using multiple wallets won't solve the problem if you fail to manage them properly. Some people use multiple software wallets and store their backup keys in a single place. This is not the right approach as if something happens with your wallet storage all of your funds will be in danger as well.

Having some physical objects can be a good addition if you have made a significant profit from the crypto market. By physical object, I was referring to an asset that has a physical form in the real world. Some people might be thinking about buying a car or house but this will only add more costs to your monthly expense list as they are not assets.

Of course. Diversification is one of the keys to investing in crypto. In this case, even when we have a lot of money, we really shouldn't make all-in investments in crypto assets. Why? because we are very aware of the high risks of crypto investment. That's why we have to be able to manage a certain percentage only for crypto and other percentages in investment or other business sectors.

Not only that, when we come to crypto investment, diversification is necessary. Because this is to at least reduce the risk of going all in on just one crypto. I personally will choose to sort out several coins that I consider to be potentially bullish in the next era. The first is Bitcoin of course and the second is altcoins with all its diversification. This is what is important because we don't know what 100% of the altcoins will be truly valuable in a bullrun. That's why we need to diversify and not go all in. Be wise in managing our funds when investing so that we will never regret it later.

That is why we can't assure 100% safety of our money and it might happen that the next time we check our wallet it was empty already.
In many cases, this happens and even using an offline wallet has no excuse because these scammers will hunt you once you become their target. That is why putting everything( hard-earned money) in crypto was not a smart idea. We'd rather choose to invest in other forms of investment so whatever happens to our crypto investment, we never lose everything.

You're correct, if we're not investing in Bitcoin but altcoins, we have to understand that they can dump anytime so we have to be ready for something like that by having multiple investments. We should buy and hold our different investments in different wallets and not putting all in one wallets. If the wallet get hacked we will lose everything we owned and that isn't a good thing to happened to anybody.

Diversifying will help us make more profits, some individuals don't like investing in memecoin but they're the ones giving the best profits recently. Investing in many trend can make you alot of profits and then you can put the profits in a less volatile cryptocurrency as Bitcoin or you keep the profits in stablecoin so you don't lose money when the market is dumping as it always does after a pump.

This topic of conversation will always be relevant, since with the development of cryptocurrency technologies, there is always a gap in the system for protecting the storage of your capital. It’s not all that simple, unfortunately, the trend of fraud does not stand still, so always be vigilant and be careful about any actions with your funds.

Just separate everything,

a, hardware wallet for long term
b, we might have crypto wallets in our desktop for our trading, or at long as we are very careful of our online wallets we could be safe
c, diversity, it could be crypto, stocks or any other assets.

The key here is that as you have said, we should have plan B or plan C to survived. Life is getting harder, and if we want to give our family a better life, then we should take care of our money and our investments.

Many reasons are certainly key in diversifying our portfolios, it mustn't be cryptocurrency alone, and it must not be the mentality of certain coins/tokens alone. It is best when we have them combined and mixed in such a way that the investors will never miss out on the opportunities in the industry and also enhance the safety of the investment to a considerably good extent. Security is also one of the most important considerations here, you could imagine one day when you wake up and just find out that the wallet you left thousands of dollars has suddenly become zero in value, which is not going to go down well with anyone.

So, even in crypto investments, I urge everyone to have their security and managerial plans, it is not a must you hold all your assets in one wallet. Some people would say for easy access and management, but No, investment in online platforms is beyond that. I don't think anyone who has a crypto asset running to thousands should have nothing less than 5 crypto wallets. This should be enough to keep the risk minimal even if one of them is hacked or compromised due to personal carelessness. Another good consideration is to buy offline assets in addition to their online assets purchases, this will ensure that the person is out of hacking, and there are many of them that are yielding so high too.

Already stated in op regarding this point, if you want to make money, crypto is right place. This place is like, money falls from sky at times. But once you have made enough, diversify.

One of the key thing that help to become a successful business man is the ability to diversify one's income. Diversification is just like having a plan B. Having multiple wallet to save your huge crypto asses insist as good as diverting part of your asses into a physical asses. Both can't fail you at the same time.

Not unless you carelessly store your keys/password anywhere, especially if you keep it on your computer.
However, this won't won't give us 100% safety assurance but we can't just think that we can be reactive because of that situation. So instead of focusing only on crypto assets, we also invest in the real stock market. It is not totally a diversification but it was a smart strategy, sharing funds is somewhat a way of not losing our entire funds once hackers get into our fence.

We have to consider these things when choosing an investment,
 - funds security
 - investment strategy
 - profit gain

It is wrong to gather your eggs in one basket. No matter how secured cryptocurrency was, I wouldn’t still advise people to also put their funds into different things. If you check, the wealthy people at the top like Elon Musk, they are ventured into many things. They invest in crypto but not with everything they have. Which is why we say to invest what you can afford to lose. Not because something wrong must always happen but just in case it happens, you do not lose what you can’t bear loss for.

While diversification has its good points, it also has some important negatives, with the most important being that a person cannot really begin to diversify their portfolio until they have a high enough amount of money to do it, after all someone that has just 100 dollars cannot even think about diversifying, as a great deal of the best ways to do this are way more expensive than that, so many people do not have too much of a choice even if they know diversifying their wealth is the right move.

Crypto is a volatile market and if someone wants to put all the wealth in the Crypto market then it means that he is putting all of his money on plunge because there is no pledge that this investment will full your pocket or will be a cause of your enhanced bank balance. We should not put whole amount in that business which is really volatile there are also large number of other businesses like that of real estate, business of gold and also the buying and selling of cars.

 I am not saying that crypto is a bad market but I want to say that put a minimum amount of money in Crypto if you don't want to lost your money it is also important to put your money in different business but don't use your large percentage in a single business as business cannot identify your success with 100% surety.

You really hit the point, investing only in cryptocurrency wouldn't be true diversification because you're still in the same space and industry, still exposed to similar risks. Investment in Bitcoin and then reinvesting in altcoins, still puts the investor in most risks that is associated with cryptocurrency, scams and hacks as OP had said.  And if any major disaster were to hit the cryptocurrency market, then the person is going to be totally wrecked. Ofcourse a person can invest in different crypto coins and still have investment interest in another unrelated industry, the point is not putting all eggs in one basket.

It's far better for an investor in cryptocurrency who wants to diversify to do so in a very different industry, like gold real estate, shares of reputable companies, transportation and other profitable ventures.

Diversifying your assets or investments is a must. There is always a scene that we will never be expected to happen, even if we always make sure of the security of our wallet, the hackers will always find a way to breach our security. Even in our cryptocurrency holdings, we should consider using different wallets to avoid losing all of it if our wallet gets hacked.

Not only these but also rugpool, my $600 in BANANA turned worthless after a huge rugpool and hacks on the project, this sucks and really annoying.

The crypto industry is becoming too scary to safe funds, no where isn't safe no more,

Well, that's true. Even tho BTC is my main crypto, I don't keep all my savings in crypto. Only most of it, lol. It's not that much anyway, it's not millions or even dozens of hundreds of dollars.

Firstly there's no investment that's 100% safe in this world, anything concerning money will always look risky and scammers will always find a new way out, even new projects now serve as a scam scheme to show how risky crypto investment sounds that's why its advisable to stay out from new tokens if you don't want to bear risk. The idea of having multi investment choice sounds great and everyone should at least be care before investing, secondly invest what you can afford and never put a huge sum of amount when you don't have much. The issue with scam and hackers is nothing new and investors should always be careful not to fall into the hands of scammers, concerning the issue of hackers I don't really know if those people involved can be track or not but no one should experience such in their investment that's why crypto investment should be protected by all means.

Crypto scam and hacks are very much difficult to understand having experience one, it appears like a movie played in front of you with little or no knowledge on how it happend.
This hackers now are pretty good with their job so it is left for us taking precautions for our own protection and benefits.

Holding any crypto as a store of value rather than Bitcoin is Abad idea but regardless it should be stored with maximum protection and can be divided into separate wallets.

Before I never sold and took profit but now I do. I guess you learn eventually.


Atomic a "non-custodial" wallet was hacked too.


True, last hack was merely due to connecting ledger to dapps, it was user's mistake if you call it, if you treat hw as cold storage, I guess you will be fine for the most part.

just use paper wallet and you're set you frequently investing in many cryptos for long term i think thats not gonna be a problem, but if you need constant interaction with smart contract then i guess there's no truly way to be safe from those scammers , even i've seen so many wallet draining happening in every dapps scene and it happen quite consistently means the scams are exploiting the loophole and really good at it.

the recent problem with ledger also shown to be really critical the hacker attacking directly through the npm package of ledger speaks a lot about the security that it might look strong from the outside but if its getting attacked inside its done for even worse that problem only found out after a while.
i do agree though aside from keeping all the money in crypto, diversifying them might be better, but honestly i've never ever got my money stolen in my life maybe because i don't recklessly interact with some random smart contract.

Op you are quite correct, the risk in crypto shouldn't be underestimated because, it is capable of increasing ones BP. If an investor losses his coin to a scammer, that would be a very painful experience and you can imagine loosing all his life savings in one sport. It is not advisable to keep all of your investment in crypto. Most especially when that is your life savings and you used all for crypto investment. There are some motivational speakers who can hype the market and convince you to buy, you can find such person on X. But honestly speaking it's not advisable to keep all your eggs in one basket.

Most of the known rich men in the world today do not have their money on one asset alone. One rule of investment and growing wealth is "never put all your money in just one place." The reason is because unexpected things usually happen. There was a footballer in my country who died of cardiac arrest after the company in which he had all his investments went bankrupt. There are many other examples to set, but the advice always says, "Never carry all your eggs in one basket."

Some people have millions of dollars invested in Bitcoin and some other ICO; the same person may also have some other investment. In stock, bonds, real estate, gold, etc. That's actually how some people became very rich. They invested in other assets and were getting profits from them.

Crypto investment is risky in the sense that if an investor mistakenly exposes their wallet secret information, they could end up losing everything they have been accumulating for years. I agree with what you said.

Very well said and clearly explained,  because alot of times I have seen some forks who just bought Bitcoin and other altcoins and then thinks their are diversifying,  anyways it very important to space out you diversification net outside your immediate investment field just like what you mentioned in form of gold or real estate but also we have to take into considerations the relevance of those other assets in our immediate environment that can make investing in them profitable,  because just like real estate,  it business is not profitable in all the country only a few country have a blossom real estate market,  many others have a relatively poor real estate market or may be the government provides adequate housing for they citizens this make real estate to have limitation when considering real estate as an alternative investment.

But Gold on the other hand have a greater chances of gaining the global attention and since gold has been around for a while we can say that gold is the best option when it comes to expanding your portfolio.

The kind of significant figures I've made from crypto, I'm never relenting in my actions to gather more, no stopping till I've gain quite significant amounts to aides my services push through difficult times. Cryptocurrency are mainly not for everyone, we just exists to keep attempting to ensure securing profits becomes very easy and straightforward. Hackers exists in the system just to wrecked the accounts of these top whales and the life of a common trader. I'm never going to put all my lifesaving in crypto, I've experienced numerous incidents were traders doesn't care about the possibile outcome other than there profits.

It would be always that your own responsibility when it comes to the overall safety of your assets and this is why you should really be that sensible or really that mindful even on the slightest security measures on which you would really be needing to be done to protect your assets on which it is really that true that even buying up some hardware wallets doesnt really assure out that overall safety.
We've seen those exploits and security issues about those hardware wallets on which it would really be leading out with that kind of hesitance in speaking about overall secueirty.
This is why we've seen people who are really that more trusting with those non custodial wallets and saving up their own phrases on a piece of paper on which it is really just
that something gives out that confidence rather than on storing into those hardwallets. Although it would really be still up into your choice on how you would gonna deal up with this
matter because there's still that a huge demand and recognition about hardware wallets when it comes to long term holding.

Most of the people came to crypto market to make profits like they make investment in stock and forex market. So if an investor made profit from their investment then the profit should be reinvested in other business ideas. This is not only true for crypto but other investment sector like forex or stock because market can anytime.

it comepletly against true crypto guys mood. They will never sell and take profit. However, we all need to do this at least once or it all pointless

Op is not simply a warning about asset protection, although I acknowledge that the opportunities to make money in this market are many but I also like that there is no need to get complicated about asset diversification assets with gold, fiat, real estate, stocks,... it can be felt that crypto is still a very modest investment environment in scale. There are many risk issues about users easily having their assets stolen, but not everyone in any field will encounter that situation, so anyway, it's a matter of trying to improve your skills and balance your assets consistent with what people find reasonable in life.

With cyberspace, this environment is even more complicated when most users lack the skills to protect themselves against attacks. They use it as they feel it is okay and do not anticipate the risks. And to access the crypto market, many people do not need to learn basic knowledge, simply how to buy, sell and store, so the risk is created by us.

Correct, even if dev isn't planning anything shady, market can take a downturn and that particular alt may not rise even with a significant update/news.

It's always wise to take profit. Myself have given up plenty profits accured in alts by holding them for long time, with the hope that they will continue to rise further and further but market takes a hit and most of them turn to ashes or go to depths to never recover from.

Yes, you are right, that's what I'm sure is also experienced by many altcoin holders who are very happy to see their portfolio turn green, even by hundreds or thousands of percent and continue to keep it because they are not satisfied with the profit they will get if they sell it at that time, but the story changes when in a short time the coin have no value at all, often what makes them not sell it is because they think the price will continue to rise but because we don't know what the developer is planning behind these coins and so on, we don't have a true picture of the coins. Changing it into a form of investment in gold, property or investment in a form we can hold will be much better.

If the fund is not in crypto, than it's not a crypto wealth actually. I do agree that we should diversify our investment, and I mean not only split between altcoins or bitcoin, but split into many other instruments like stock, bond, etc. And to be honest I have never meet anyone as in an Individual who own 1 Millions of crypto assets. Maybe some investments company owns 1 Million USD worth of crypto but that's belong to their mulitiple clients not one individual.

Yes, crypto makes someone become rich but the idea of keeping all our money in it is somewhat carries a huge risk of losing them all in an instant. Indeed, it was not a safe investment, and many stories we have heard that many had lost their money due to scams and hacking. We should anticipate such a thing before experiencing it because there is no way of turning back the time and getting our money. That is why I only invest 50% in crypto and 50% in local investment. I couldn't say that I was not a risk-taker but I'd just think about the security of my investment as this is what matters most if you are in this field, not just about earning money (huge).

If you know you are not sharing your apartment with anybody in your society, and you know you don't dispose your personal details on social media or friends, I don't think you have anything to worry about your coins in your wallet. If you want to invest in other business by selling your altcoins, I believe it will be bringing more income to you to invest in crypto to have more good business in the future. I think, this advice you gave is no longer a new advice to users in the community, because many users have succeeded in established different investments all over their environment because they don't want to depend on crypto investment alone.

A lot of hacks have happened and being able to see a known hardware wallet be exploited because of a security hack makes it more troublesome. You need to know how to keep yourself secure and understand how you can prevent those possible hacks.

I do hope that if you have that kind of money in crypto, make sure that you have secured it in a way that it cannot be compromised. Less usage of it could lead you to a great position. And having that making you millions should mean that you can probably afford a lot. Better be diversified and not all in crypto.

True, there are more newbies to prey for in bulls too. Correct that scams/hacks exist everywhere where there is money factor involved, but there is minimal resistance in crypto — you lose pvk/seed, sign malicious transaction, clipboard hijacked, you send funds to wrong address — all gone.


If person is already having significant wealth in crypto, he should diversify.


That's true.

We should all understand basic things like this in crypto. that is, investing in crypto is quite high risk. Therefore, there are several things that must be considered before or when we invest in crypto.

It's not just related to what crypto we should hold for Southam or long time. because this will indeed affect our level of possibility of making a profit. but also how we can manage these risks and also manage finances so that after all we don't lose all our assets in crypto. and what is certain is investing in crypto with the amount that we can afford to lose. not all in...

I think there are a lot of situations where it is not going to be all that crazy, we need to reconsider it all and we need to make sure that it is going to go well enough, otherwise we can't really come up with anything substantial. Security is the most important part of it all and we need to make sure that we are secure and our money is safe as well.

Many people end up not realizing what that "safety" means, they do think that they put it somewhere safe and most of the time they put it somewhere risky. That is the real trouble, it is not that people ignore safety, they do care about it and they do want to do it but they do it with something that is not safe at all and think they did all they could. We need to try to prevent that.

Of course, 100% of your crypto portfolio must be in crypto that has a good and clear future, don't just choose crypto coins that are unclear and have no guarantee whatsoever for future development. examples such as bitcoin which is the main asset, ETH for the king of altcoins and several altcoins such as SOL, BNB and LTC. it can provide significant upside when the bulls arrive. don't just buy obscure memecoins or shitcoins. Indeed, if you buy shitcoin correctly, it will provide fantastic profits, but if you buy it wrong it will be a 100% loss.

You are so wise in this write-up, it's little but dully passed the message. I hope that people can be so wise to consider it. This is also what I just discussed in one of my last posts, it is not always about crypto, what about its safety and reliability? Even if crypto did not disappoint you, what about the heists that are possible in it? And as we know all internet users are susceptible to it. All of us must be smart and not only be thinking of the money alone, we have to think about what can really happen in the nearest or farther future that many may never foresaw. This is why it's good that we plan ahead, we should ensure that we diversify and be wise, but this time, it mustn't be online again, it should be physical properties like land, and houses, buying businesses also is good, and much more.

But if we must invest further in online dealings, we should ensure that they are not such that are self-custodial to avoid being careless about or doing it for the sake of letting another party take responsibility for it. An example of this is buying shares/stores and ETFs. With them, you can still continue to partipate in the liquidity investments online but with a reduced risk.

I agree but crypto scam is more worst as we cannot identify a person, wallet and no way to reverse or freezing hacker account while in other investment the chance of recovery is also available.


 you means that we investment in only crypto despite of daily hacking and draining of wallet ? why not adopt a safety strategy by divide investment in all precious metal.


These are old ways and most common crypto hacking issues which is easy for intermediate level crypto users having some knowledge of crypto and safety. The most dangerous thing which should be think is what OP bring up in the first post which is ledge hacking, contract compromised or any other which causes thousand of people hacking without knowing it.

If a large amount of assets are stored on a platform where there is no control over the keys, it certainly increases the risk of hacking. Even if the keys have their own regulation, market volatility can cause significant fluctuations in the asset's value. Diversification of investments can be a good and safe strategy to reduce risk and increase potential returns. Spreading money across different types of investments such as stocks, bonds, real estate and other assets can reduce the impact of a downturn in any sector. This can help protect savings from significant losses and create a more stable long-term financial plan. However, care must be taken to conserve resources.

Scam and hacks don't only affect cryptos. They affect every aspect of investment, provided there's money to be made there. It's just that crypto scam and hacks are more prevalent and reported in bull seasons than in the bear moment.

I don't think that advice is ripe at this time. Now is a good time to concentrate on crypto investment. Maybe after the bull rally, investors can look in the direction of what you mentioned.

Yes, hacks happen but in most cases it's with the connivance of the victims who are likely to ignorantly give out vital information leading to the vulnerability of their wallets. For instance, we shouldn't be clicking on every link or extensions we get sent to. If one must get involved in airdrops, one should get a burner wallet for it. Don't expose any wallet you've a substantial amount of coins in by using it for airdrop.

true, i goes to support the saying that one shouldn't put all his eggs in one basket. It's damn risky and could send you to your early grave.

If you have accumulated a reasonable amount of crypto asset, it's only reasonable to out some portion of it into some other things since securing your crypto funds isn't 100% guaranteed to be safe.

I personally think you'll still get some tax benefits from investing in physical or hard assets like real estate but better ask someone who knows how taxation works in your country. Policies differ.

It's still a good problem to have. Taking on more responsibility from managing various investments and business can build you up to become better at increasing wealth.

The online world is booming, so to have a business here is an advantage. We can integrate crypto along with other payment methods, to be able to reach out more customers and give them convenience. Together with the growth of cryptos, are the scams. It sucks, but with a proper knowledge, we can be able to combat them. Scammers/hackers are smart to break securities but devs are still doing their best to fixed and improved it.

Diversification has a benefit but it also gives us more responsibility. I think this is the reason why there are people who just prefer to go all-in. It doesn't mean that they are not trying hard on protecting their possessions. A business might be a kind of investment. It has an advantage but it's riskier than the other.

I don't think diversifying your money into different cryptocurrencies is actually a good idea, cryptocurrencies are intrinsically connected and they move together, when Bitcoin rises, altcoins rise too, and when it falls, they fall. Thus if you wanna diversify, the smartest thing to do is to buy Bitcoin and different assets, like gold, or you could prolly start a business, buying too many cryptocurrencies isn't really diversification imo.

Real business is also necessary with online crypto. crypto scamming is increasing and security has been broken many times from the last year but i think 2023 proved worst of them. Holding all fund in one source is not a good strategy which could anytime become zero. i like your idea of diversification. Gold,land and other precious metal are good for investment but the most better investment is to invest in business which will gives you daily profit better than just holding.

Can't deny, this is so true.
We are all very familiar with the big risks of investing in crypto, no one guarantees that it is safe, and no security is 100%. Of course there will be a risk of something that we really don't want, whether it's because of being scammed, phishing links, losing access to wallet, wallet being hacked, losing private key/seed phrase, rugpull, and so on. Yes, this is part of the risk of crypto investment itself. And we must have an understanding and readiness for this.

So, by preparing ourselves in this matter, we can try to play as safely as possible. To not reveal our privacy and continue to protect our secrets. and not to be too trusting with someone who has access to your wallet, or to avoid various scam concepts which are actually very tempting because of the huge rewards. And this requires knowledge, insight and experience which will definitely not be easy. At least, this will help us to reduce or manage this risk.

One should not save his whole amount in a single location no matter it is with Fiat currency or cryptocurrency. There are many solution to avoid scammers or hackers one of which is to save your cash or coins in more than one wallet. If you are choosing a single wallet and save all amount in a single wallet then it means that you are deposting your money unprotected.

Beside a wallet a person should also select different coin because if one can get shorter in worth then whole money will not be unprotected but you will have surely another source of coin to get the reward and return your loss amount. Other way is to broaden your money in different businesses like crypto as well as another business which is not based on cryptocurrency because crypto is volatile but your other business can make you able to earn more than that amount about which you are worried in crypto due to Volatility.

It's an interesting perspective and its true though, digital assets are prone to hacks and this is a technological era and people are always looking for ways to exploit bank accounts, crypto wallets, credit cards, etc so it is always important to keep a certain percentage of your portfolio in the traditional assets and for the best physical assets like gold and real estate over stocks.

Yes, but if it's about storing our crypto safely. We know how to do it and I also advise to diversify because it's best to get more exposure from different investments and assets that we may have.
That's a good strategy for you to grow on yourself and get a better portfolio aside from the crypto portfolio that you're building up. But again, if someone is confident and fine with having 100% of crypto on his portfolio, that's also fine.

Indeed, we can't ignore the risk and possibly losing our money in an instant. A good suggestion is not to put everything on crypto alone but also to consider buying real stocks like gold, land, etc. Because crypto investment is prone to hacking and usually targets wallets that hold a lot of money. However, we can prevent this from happening by using different wallets and spreading funds to multiple wallet addresses but yes, the risk of losing is too high.

I'm not sure if this is a good idea but what I did is that when I got enough profit I withdrew my capital and left my profit to continue investing in crypto.

It's self-explanatory. In short, just diversify.
When I say you need to diversify, I mean don't diversify it into a single asset like cryptocurrency but instead, diversify into different asset classes

Stocks, Bonds, Real Estate, Commodities like Gold, Silver, etc. I mean there are many asset classes out there for us to choose from. With this kind of strategy, you lessen your risk of losing your money. Many users here think that when you invest in Bitcoin and other altcoins, they think they're already diversifying. Well, you are diversifying since you invested in different coins, but the risk is still the same since we know how volatile the crypto market is. Investing in different asset classes lowers the risk.

I've been in crypto for years already (though I'm not an expert still), but I've seen numerous hacks that happened yearly already, and these events made me realize that I don't need to put all of my money into crypto, but I need to invest into lesser risky assets as well like the Index Funds, other Stocks, and Bonds. What OP said was true, and I hope many will not go all-in on crypto like what others are doing.

Having lack of knowledge may make one do that.

I know that feel. You don't know how much money I have given up by holding alts for long time.

I did precisely same thing.

Even if you know how to secure it, it's better to diversify and minimize risk exposure to one asset class.

I don't really thing tax can make someone not to diversify his /her potfolio because there are many physical asset that doesn't require tax. For example adventuring into livestock management. Like fish farming and poultry farming etc

Normal for us to take precaution on everything on crypto since there's a lot of negative possibilities happening here that's why its really advisable if we don't store a millions worth of asset especially if we are dealing any platform which keys is not under our control since hacking is huge chance to happen. If keys is under our control still its fine but the second issue is the volatility that's why we need to choose which coin we are going to hold so that instead getting worries about it can turn into positive since we could have huge chance to gain especially if the price of the coin we hold experiencing a bull run condition.

overall it still matter how we secure our asset and we need to be aware then more careful about this issue.

this is all our end goal

i always worry now that i am carrying my phone which holds bitcoin around i think i have become more aware and careful of visiting links and downloading files in my phone or my phone’s system

right now i have not made enough profit that i have no choice but to let it be in bitcoin but once i get my targeted price i will be sure to take it and split it into different assets

Diversify is one of the means to secure it because you won't gonna be making it easy for the hackers or whoever wants to get it from you in one container, instead, you are scattering it to be safe and this also requires proper knowledge because you also need to have a good brain to preserve your wallet and keys at the right place. nevertheless, people should be careful and wise when it comes to their investment, not only choosing the right altcoins but also knowing how to safely secure their crypto assets once they have them.

Diversification of assets is recommended - but consider it very wisely. You shouldn't force diversification if you don't really do the analysis - even if you believe altcoins in the top 10 market caps are good. I'm considering diversifying into some altcoin - but will probably consider some other options like gold, land, or some kind of real estate as well once I get some returns.

What you need to know is; Investment instruments are not only bitcoin or altcoins – this means that several other instruments are also worth considering. The goal is not just to make a profit – but to have more than one or two sources of income. But right now it's a good idea to stay focused on crypto - you need to exploit this opportunity wisely.

I agree and thanks for the reminder. I've got some plans already and I'll diversify my profits with this coming bull run, maybe some in real estate if I can afford it and will some small business for which I think will work for me.

Everyone who's in here should also know the other investments because with crypto, while we all know that it is here to stay. You may want to diversify and explore into something new.

It's like a back up investment and asset that you may seem to want, gold? Not for me but who knows in the future if many of us from here will get on it because before we can't afford.

Really when one has acquired enough Bitcoin in the investment process they have to diversify the investment to other coins and if possible invest in physical projects which can make them acquire more properties and assets. I don't think the millions of dollars you have I'm your cryptocurrency wallet will just disappear like that unless you were careless with your wallet. When you have such huge amount as coins then you have to tighten your wallet security. Though there are will be time the cryptocurrency market would turn to red as bear market and even as that you won't loss the money if your well protected and all want you have to do is to be patient for another bul time to come.

In the investment of Bitcoin no money has lost but impatient make people to loss out.

Diversification and reinvest your profit is always a good idea, we should practice this more often.
Crypto is not the only place where we can make profit and yes it is not always safe and not always about profit. If you are able to earn a significant amount make sure you invest as well in stocks, real property and of course save some for your retirement. Crypto opens a lot of good opportunity but then again, securing your profit is always advisable.

What we are seeing is an overall loss of trust, since there does not seems to be a good way to store our coins as we can lose them even when we are not at fault due to the ingenuity of hackers, so I think it deserves attention to think about keeping some of our wealth in other assets that can also serve as a store of value, even if we may not be able to obtain as much profits with them, compared to the profits investing in this market could give us.

Those that know how to store their cryptos won't have any problem having an all-in portfolio with 100% crypto. But as we build ourselves also to become better investors, we have to diversify and scatter these profits that we make in crypto. I think that majority of us are also engaging with real estate especially those that have made larger profits last bull run and potentially planning to venture there for the next bull run. That's how it goes, we just circling around in investments and those that have started with crypto, you'll never forget where you started.

Especially shitcoins that can get attacked, “hacked” and disappear overnight. One should only rely on them short term, get profits and move on to the next one. I made this mistake during the 2017 ICO boom. I put a lot of trust in a number of tokens, thinking I would become a millionaire after another bull run. I was completely wrong. Most of those altcoins tanked and never recovered by the next bull run.

Indeed, diversification is one of the best strategies anywhere in the business and investment world.

I have been thinking about this because putting one basket is indeed very dangerous especially when the entire portfolio is in crypto all this as a red flag where when we realize it should not be done.

Diversifying into other assets is important, an investment advisor also advises like this where we should not put it all because it is too risky even if we keep it in a cold wallet it is still exploitation that is compromised there is always a loophole behind it, so by partially switching to gold or other property then it would be a good suggestion where our assets have been diversified not only in crypto or bitcoin all.

In light of all the recent exploits and vulnerabilities in crypto, it's a good advice. Diversification is a key topic for discussion and while a lot of bitcoin enthusiasts would frown at the idea, I really think it's a good one as the hacks that have happened in recent times were on chain and some times, offchain (eg: An attacker taking over the DNS of a website domain and routing users toa phished version). In some pf those cases, the user didn't need to do anything to get compromised (see mixin hack).

The key is to stay in crypto. Many people join the bandwagon, get something good going and then lose it all.

i learned the lesson myself when i hold a token thinking it will have a high value the longer i hold it but it's not the case when it comes to altcoins.  in a few days, the price could take a nosedive and you are left with zilch. in the bull market, an altcoin could pump its price to $80 each while in bear season its price could fall to $0.18, this is very true for the token i hold.

it feels like everyone is dumping the coin like there is no community willing to hold to show they support the project. 

You could wake up tomorrow and find the world with an asteroid the size of Hawai landed in the pacific. 

The existence of hardware wallet makes people think of that since it’s an air gapped. But yeah having multiple storage is better than single storage to have a room for error once shit happened.

Diversifying investments to stocks and crypto works for me in a long time. I never all in on any investment with same market to avoid to exposure on same risk once the market collapse like in crypto. Not only hack and scammer are the enemy but the market crash can be as painful as being robbed.

The person having 1 million $ in crypto in one wallet has most likely more than one wallet plus some offline storages.
Where do the people get the thought that hoarding all money in one place is safe?

Yeah, crypto is pretty risky, and even riskier for people who do not know how to safely hodl their assets and the coins to buy, the thing is, quite a lot of people only think about the ROI they can make through crypto when they buy it, they do not care to think about how to ensure that they do not lose it. Of course it is bad to put 100% of your money into one asset/investment, if anything happens to that asset, you are going to lose everything.

Having said that, diversification should be in assets that are not intrinsically connected, if you buy Bitcoin, then buy gold and real estate, do not buy Bitcoin and then go ahead and buy only altcoins and think that you have diversified your assets.

I usually have such thought in mind head too, like how do I stay safe from this hacks when I get up to a high amount of assets in my wallet.

So diversification is required whether into a physical asset of virtual asset, my conclusion was hang around having different wallets and split this virtual assets into smaller pieces and move to different wallets to keep hackers eye off one big wallet with alot of cryptocurrencies in it.

I could also diversify into physical asset but taxes and other factors discouraged that decision.

I wrote this in my notes app when I became aware of ledger library exploit. All this writing was spontaneous, and you should definitely heed it.

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Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.

You could having million dollars worth crypto in your wallet and next moment, puff it's gone.

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Thank you.