Hot take: Your crypto portfolio should have more than just Bitcoin.

[Promocodeudo]

OP, as a newbie I think your major concern at this stage in this forum is to learn, or are you telling us that you are now an advisor, when you talk about diversification, which of these altcoins is better than bitcoin, the answer is none, Bitcoin price practically controls the price of this altcoin, when Bitcoin appreciate in price the so-called altcoin appreciates a bit, so I don't think diversifying from something better to investment that's less better is a good idea, the best option if we most diversify for me is real estate, real estate is an asset that can give profit in a short while and it has been proven to be the major asset that can compete with bitcoin, OP, if you must post this thread it will be more appreciated in altcoin.

[KiaKia]

By having other cryptocurrencies in your portfolio you are simply exposing yourself to more risk, you can have Bitcoin and rely only on Bitcoin, it's safer than having other coins in your crypto wallets, but even if one have to do it, they must be willing to put in the extra work, other coins don't just expose you to more risks, they always need extra lessons and monitoring.

Altcoins are stressful to own and lock away in your wallet without monitoring it's update on twitter or their telegram group, they may decide to move to their main net anytime or switch their smart contract, unlike Bitcoin where you can lock away without looking back for years you can't do that with altcoins, you are simply trying to lose your assets if you do..

My alt portfolio consists of two altcoins that just out of nowhere decided to change smart contract, I don't know this until it's almost too late, and thankful to myself I visited twitter that day, and the next day is the last day you must swap your old tokens for new, if not I would have ended up with worthless tokens.

Other digital assets are too stressful to keep, there are also times where you need to exit the market because of a bad rumour on a project, if you are slow about it the coin will dump on you, like what happened with GALA, you always have to be on guide with other altcoins.

[Bananington]

• By diversifying your portfolio with other cryptocurrencies, you can reduce your overall risk.

You are not reducing risk by diversification of your portfolio especially when you are investing in many altcoins. You are increasing the risks instead because then you have many more things to worry about.  You do not need to over diversify your portfolio, the purpose of investment is for profit making, and you can make profit still if you do not invest in so many coins. Invest very well in bitcoins, then you can choose to consider a few other altcoins with good records to invest in also.

[adultcrypto]

I have tried this before and ended of wasting money on shitcoins. Their marketing is usually good with lots of hype but in the end, it is usually from one excuses to the other. The founders of most of these other coins are holding a good portion of their wealth in Bitcoin, so why do you suggest I diversify my investment when Bitcoin is doing pretty better than most if the other coins and there is the assurance that Bitcoin is not going to collapse like FTX and LUNA. Ripple escaped collapse by winning their court case, that would have been another disaster to their holders and this to me is too big a risk to take. So, for now, I rather stick with Bitcoin.

[Silberman]

Let me explain. When I say that your crypto portfolio should have more than just Bitcoin, I'm addressing Bitcoin enthusiasts who want to make short-term gains while staying invested in Bitcoin as their primary asset.

Here are a few reasons why:

• Bitcoin is a volatile asset, and its price can fluctuate wildly in the short term. This can make it difficult to generate consistent profits by trading Bitcoin alone.
• By diversifying your portfolio with other cryptocurrencies, you can reduce your overall risk. Some altcoins may be more volatile than Bitcoin, but they may also offer the potential for higher returns.
• Some altcoins have specific use cases that could make them more attractive to investors in the short term. For example, some altcoins are focused on developing decentralized finance (DeFi) applications, which are becoming increasingly popular.

If you're a Bitcoin enthusiast who wants to make short-term gains, I recommend that you consider diversifying your portfolio with a few other altcoins. This will help you to reduce your risk and increase your chances of generating profits.

What do you think?

You are trying to do an impossible task, since in order to increase your ROI you have to increase the risks you take, and trading altcoins while potentially more profitable cannot reduce the risks you take, besides by investing more money on the same market you are not really diversifying your investments, if you want to do this then you need to invest in assets that are not part of this market, a decision which could indeed lower your risk but that will not increase your ROI, as we are getting closer to the halving by the day and more profits will come during the next months and years.

[btc78]

• By diversifying your portfolio with other cryptocurrencies, you can reduce your overall risk.

You are not reducing risk by diversification of your portfolio especially when you are investing in many altcoins. You are increasing the risks instead because then you have many more things to worry about.  You do not need to over diversify your portfolio, the purpose of investment is for profit making, and you can make profit still if you do not invest in so many coins. Invest very well in bitcoins, then you can choose to consider a few other altcoins with good records to invest in also.

this is the best advice

usually you’d invest on different coins for different purposes be it for long-term or for short-term it’s advisable to invest on the top cryptocurrencies such as btc and eth as the biggest part of your portfolio, invest on different types of tokens like DeFi and stablecoins and then invest the rest on some altcoins that seem to have good potential even if it’s a little high-risk

[Negotiation]

It is true that a crypto portfolio should contain more than just Bitcoins but the market should be analyzed thoroughly before investing in the currencies. Not all currencies are good bitcoin is the top currency in the crypto market and therefore it is recommended to invest in this currency. Among the altcoins Ethereum BNB is the best. Other currencies involve more risk and the upside is much less guaranteed. Scams most of the time, so it is better to hold long term investment in bitcoin to keep a good balance of investment market.

[bettercrypto]

By investing in altcoins, it can increase the potential profit you are going to make, in case you pick the right altcoins which are going to perform awesomely on the next bull run, however, in no ways you reduce risks when investing in altcoins. It's quite the opposite, you totally increase the risks you are taking in order to raise the profitability chance of your investment, because as you said, altcoins are much more volatile than Bitcoin (in every directions, upside and down).

And there are no chances an altcoin performs well, while Bitcoin performs poorly. Keep in mind Bitcoin is the cryptocurrency which drives this market in every directions, and altcoins just follow its movement or tendency. If you are looking for safety when investing in crypto, you should go all into Bitcoin.

In my personal assessment, it is true that bitcoin as an investment is really tested in the long term. Besides, it's only good in the long term, in my observation, if you have a hold of at least 1 bitcoin. Because if it's less than 0.1 BTC, I don't think it's good to do it anymore.

This is if you want a high income in the crypto business. That's why there are alternative coins in the market like BnB, Ethereum, and others so that we can experience better profit than Bitcoin, because in Bitcoin the profit can be x5, but in altcoins I think it can be more than 10x, just in my opinion.

[pinggoki]

No, I don't think that we're going to be following that hot take and in my opinion, the diversification of crypto portfolio is not the same thing as diversifying your investment portfolio of traditional investments like real estate, stocks and bonds. There's a lot of shitcoins out there that's aimed at gullible investors trying to get in into something that they think is going to have the same success as bitcoin and so they buy these shitcoins with the justification that it's also so they can diversify their crypto portfolio, it's not going to be a good thing to do that and you're better off putting all of your money in bitcoin because bitcoin will guarantee you a profit although it will take a long while before it can do that but that waiting will be worth it. Also, if you are a newbie to crypto then you're better off just buying bitcoin before thinking of venturing into other altcoins, you don't want your first experience in crypto investing to be a bad one, at the least with bitcoin you are going to be fine that is if you can hold out and wait for the price to go up and for you to get a big profit.

[kryptqnick]

If a person, as the op mentions, wants to make short-term gains, I agree that something more than Bitcoin is probably required. One might find a stablecoin useful for a trading pair with Bitcoin, for example. Also, while the op says that Bitcoin's price fluctuates a lot short-term, I actually think it probably doesn't fluctuate enough to profit from daily fluctuations. Fluctuations are good for trading, and Bitcoin can stay fairly stable for a while, unlike some altcoins.
That being said, I don't think that diversification reduces the overall risk. While it seems reasonable in theory, I think it's wrong in practice, simply because altcoins are riskier than Bitcoin, so diluting Bitcoin with altcoins makes the overall risk higher.

[Kakmakr]

Why should you diversify into shitcoins to make a profit? I have done that before and these shitcoins has cost me a lot of losses. I handle some "good" Alt coins like Bitcoin now, by buying low and selling high, but I am very picky on what Alt coins I am buying.

I started in Crypto currencies when there were only Bitcoin and a hand full of Alt coins..... now there are 1000s of shitcoins out there trying to emulate Bitcoin's success. 

[Ale88]

Let me explain. When I say that your crypto portfolio should have more than just Bitcoin, I'm addressing Bitcoin enthusiasts who want to make short-term gains while staying invested in Bitcoin as their primary asset.

Here are a few reasons why:

• Bitcoin is a volatile asset, and its price can fluctuate wildly in the short term. This can make it difficult to generate consistent profits by trading Bitcoin alone.
• By diversifying your portfolio with other cryptocurrencies, you can reduce your overall risk. Some altcoins may be more volatile than Bitcoin, but they may also offer the potential for higher returns.
• Some altcoins have specific use cases that could make them more attractive to investors in the short term. For example, some altcoins are focused on developing decentralized finance (DeFi) applications, which are becoming increasingly popular.

If you're a Bitcoin enthusiast who wants to make short-term gains, I recommend that you consider diversifying your portfolio with a few other altcoins. This will help you to reduce your risk and increase your chances of generating profits.

What do you think?

I bought some altcoins in the past, sometimes it turn out to be a good investment and other times no, it wasn't good at all. If you want to buy some altcoins I would suggest to buy something that is somehow reliable like ETH or BNB just to mention a couple, for sure I wouldn't buy Shiba or other meme coins. Anyway for me the easiest thing to simply stick with bitcoin, if I have some extra money I prefer to buy more BTC rather than any other altcoin.

[Blitzboy]

Since Bitcoin is the first and most well-known cryptocurrency, it feels safe and familiar.

Altcoin diversification spreads risk and allows for innovative enterprises, especially in DeFi. More agile and niche-focused than Bitcoin, these initiatives can generate considerable short-term benefits. Given altcoins' less established origins and often speculative enthusiasm, larger potential rewards come with higher risk.

The advice to Bitcoin enthusiasts to slowly expand is rational and forward-thinking. However, altcoin investments require rigorous investigation and risk evaluation. Diversification is smart, but it should be done deliberately, taking into account project viability, market trends, and personal investment goals.

[R100K-Martin-Lunger]

Given altcoins' less established origins and often speculative enthusiasm, larger potential rewards come with higher risk.

The advice to Bitcoin enthusiasts to slowly expand is rational and forward-thinking. However, altcoin investments require rigorous investigation and risk evaluation. Diversification is smart, but it should be done deliberately, taking into account project viability, market trends, and personal investment goals.

I agree with your estimation and advice. I came to the same conclusions after spending years investigating the ins and outs of the crypto world.

With all of my experience, and after rigorous R&D on which I spent considerable resources, I was able to build a system that's now giving me and my community of 200+ small investors higher yields than Bitcoin.

So I know for a fact that diversification works - if done correctly.

[R100K-Martin-Lunger]

If a person, as the op mentions, wants to make short-term gains, I agree that something more than Bitcoin is probably required. One might find a stablecoin useful for a trading pair with Bitcoin, for example. Also, while the op says that Bitcoin's price fluctuates a lot short-term, I actually think it probably doesn't fluctuate enough to profit from daily fluctuations. Fluctuations are good for trading, and Bitcoin can stay fairly stable for a while, unlike some altcoins.
That being said, I don't think that diversification reduces the overall risk. While it seems reasonable in theory, I think it's wrong in practice, simply because altcoins are riskier than Bitcoin, so diluting Bitcoin with altcoins makes the overall risk higher.

You've pointed out something very interesting with the mention of Bitcoin's stability in daily trading. It's always been a long-term investment rather than a day trader's go-to asset.

I'd always keep most of my money in Bitcoin. It has always been - and always will be - my primary asset.

I also agree that altcoins are definitely riskier, but I made this post to talk to individuals like me who have felt we can do more while we wait for Bitcoin to take us to the promised land.

I understand keeping up with the incessant ups and downs of multiple coins to fruitfully diversify and make higher profits with short-term trades is extremely complicated but - with modern technology - I'm sure we can find a solution to this problem. Don't you agree?

[dunfida]

Let me explain. When I say that your crypto portfolio should have more than just Bitcoin, I'm addressing Bitcoin enthusiasts who want to make short-term gains while staying invested in Bitcoin as their primary asset.

Here are a few reasons why:

• Bitcoin is a volatile asset, and its price can fluctuate wildly in the short term. This can make it difficult to generate consistent profits by trading Bitcoin alone.
• By diversifying your portfolio with other cryptocurrencies, you can reduce your overall risk. Some altcoins may be more volatile than Bitcoin, but they may also offer the potential for higher returns.
• Some altcoins have specific use cases that could make them more attractive to investors in the short term. For example, some altcoins are focused on developing decentralized finance (DeFi) applications, which are becoming increasingly popular.

If you're a Bitcoin enthusiast who wants to make short-term gains, I recommend that you consider diversifying your portfolio with a few other altcoins. This will help you to reduce your risk and increase your chances of generating profits.

What do you think?

Diversification is always that recommended but since due to lack of financial capacity then this is where we do miss out opportunities on doing so. If you do want on less risk then Bitcoin would be your best choice
but its not 100% guaranteed that it would be completely safe in terms of crypto investment.We dont know on what the future holds and on the things that would happen.
This is why other people would really be that focusing when it comes to other alternatives such as on choosing some altcoins which does have potential. You would really be that
needing that taking more risks for you to be able to have that kind of chance to earn more but of course diversification would really be needing that kind of financial capacity
which not all would really be that capable on doing so.

[R100K-Martin-Lunger]

Let's talk about that LTC for a moment. It went through a 2 consecutive bull markets just like bitcoin. One in 2017-18 and one in 2020-21 and it barely grew. Bitcoin reached 20000 and then in the next bull market almost 70000 and litecoin went from 200 to 250. If you bought LTC in 2018 you had to wait 5 years to make 25% profit.

...Thanks for your advice but I'll take my bitcoin over any altcoin you offer.

Excellent example, but as I already said, my two cents in this post were for individuals like me who are interested in maximizing their profits with short-term trades targeting altcoins that are ready to break out. I never said we should liquidate our Bitcoins (Anybody who's not keeping most of their crypto money in Bitcoin is going to lose in the long term).

I'm sure - and I've learned this with experience - that we can optimize profits in crypto without having to give up on Bitcoin. I'll always keep much of my money in Bitcoin but I won't say no to making quicker profits if I know how to do that.

[mvdheuvel1983]

If you're a Bitcoin enthusiast who wants to make short-term gains, I recommend that you consider diversifying your portfolio with a few other altcoins. This will help you to reduce your risk and increase your chances of generating profits.

What do you think?

Everyone knows that as a bitcoin investor there are some altcoins that can help you in reaching your bitcoin goal faster if you invest in them and when they rise you take profit and invest in Bitcoin. If there is any altcoin that I would invest in would be a Ethereum. Any other I jump on for the pump and dump.

[wallet4bitcoin]

I think those missing the most from the Blockchain industry are the Bitcoin maximalists, they have decided to shut out all avenues of exploration just because of their belief in Bitcoin and this is evidently visible in their portfolis. It is a disaster to have a portfolio filled with just one type of asset, this is not just applicatble to blockchain alone but investung generally.

If you invest in assets and you want to make profit, you should be open to opportunities as the goal is to be profitable and not just to hold an asset and hope for it to appreciate as speculated, it is worse in the blockchain space as bull seasons are almost unpredictable asides when its close to Bitcoin halving era. You can not hold assets forever without profiting and then your turn over will not be proftable, again, its easier to have other assets with lesser marketcap flip their numbers than Bitcoin.

[pixie85]

I think those missing the most from the Blockchain industry are the Bitcoin maximalists, they have decided to shut out all avenues of exploration just because of their belief in Bitcoin and this is evidently visible in their portfolis. It is a disaster to have a portfolio filled with just one type of asset, this is not just applicatble to blockchain alone but investung generally.

Tell that to people who only own stocks. That's a single asset type.
If you own Tesla stock and bitcoin that's a 2 asset portfolio.
When you own investment real estate, gold, bitcoin and Tesla that's a 4 asset portfolio.

Stop telling people what to do with their money. Warren Buffet would tell you that holding crypto is a disaster. I think that people who have dozens of altcoins in their portfolios and have to waste time to keep track of all of them are causing themselves problems. Doing something like that instead of holding bitcoin is a real disaster.