Risk spreading through diversification

[ratiobitcoin]

Hi there,

i was thinking about crypto-risk spreading through diversification while investing an amount which would be okay to lose in different kinds of altcoins. Therefore the question occured is there a wallet or something similar able to manage different currencies at once? or how would i do this - investing in different altcoins? is there like one stock-exchange where everything happens or do i have to deal on different platforms?

[1715603655]

1715603655

[1715603655]

1715603655

[1715603655]

1715603655

[1715603655]

1715603655

[1715603655]

1715603655

[talkbitcoin]

there are exchanges which most people use to hold their altcoins at, because they usually want to dump it at a moments notice and be able to get out when the dumping of said altcoin begins.
but this is not a safe method, although it is convenient and can maximize your profit. these exchanges are not to be trusted. they can run away and scam you at any moment.

your other option is using wallets like JAXX that support multiple coins, or hardware wallets such as Trezor. but that usually takes time to transfer your coins to an exchange and be able to dump them. and also your options will be extremely limited.

[skripsup]

It is a smart decision to invest the amount of money which you are not afraid to lose, I always do the same.
About diversification of investments. Don't invest in the shitty coins which gonna die. Try to research the perspective coins and diversify your funds. Look at top 20 coins and always read news to know if any new good coin is coming out.

About "where to keep coins". There are several multi currency wallets and some exchanges with lots of coins, for example Bittrex.

[pey]

Holding and managing them in wallets is a risk

Diversification is about to reduce risk but diversifying your money to a lot of coins is for those who don't know what to do.

There is always risk, the important thing is to save yourself without losing too much money in a crisis, hack etc.

[ratiobitcoin]

beside of the diversification i mentioned. how do you manage different altcoins what kinds of exchanges / walltes do you use?

[ruffles2016]

It is really hard to maintain all these coins in different wallets and fees keep growing. I personally suggest you to diverse in exchange. I know its not safe but its still faster & better way. Trust regulated usd exchanged.

[asriloni]

Hi there,

i was thinking about crypto-risk spreading through diversification while investing an amount which would be okay to lose in different kinds of altcoins. Therefore the question occured is there a wallet or something similar able to manage different currencies at once? or how would i do this - investing in different altcoins? is there like one stock-exchange where everything happens or do i have to deal on different platforms?

What about blockfolio? you can try to download it through the google play store. Investing in the different altcoin will only reduce the possibility to lose all of your money at once. But when you are seeing the majority of your portfolios get red paint and you may feel panic.

[ratiobitcoin]

It is really hard to maintain all these coins in different wallets and fees keep growing. I personally suggest you to diverse in exchange. I know its not safe but its still faster & better way. Trust regulated usd exchanged.

what do you mean by diverse in exchange?

What about blockfolio? you can try to download it through the google play store. Investing in the different altcoin will only reduce the possibility to lose all of your money at once. But when you are seeing the majority of your portfolios get red paint and you may feel panic.

thank you, i'll have a look at blockfolio