Spread your source of income to cryptocurrencies

[Onyeeze]

When some of have one particular business they do relies on that particular business, not knowing that having a particular without spreading business to different categories it may brings income collapse to the person

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

What I mean is that, the investors should not concentrate on a particular investment, else the may experience a bankrupt in the future if their business is not functioning properly.

[Nathrixxx]

What I mean is that, the investors should not concentrate on a particular investment, else the may experience a bankrupt in the future if their business is not functioning properly.

This talks about diversification in business and investments, we can't just afford to have all our eggs on the same basket, because we can't predict the future, hence there's a need for us to diversify our investment on other profitable assets, also, we have to understand how to differentiate assets from liabilities, having bitcoin as our first priority is a good decision, then we may consider some other top altcoins as additions to that, while alternatively, we may also diversify by investing on physical assets like real estate, gold or landed properties, which all could serve as a source of income to us and when one is it yielding as we may expect, we can be rest assured other sources could provide us the necessary income needed as our plan B.

[IceLincoln]

Yes it’s important as an investor to diversify, holding all your investment in one field is not really a good strategy but I wouldn’t advise or encourage one to diversify into alt coins, if you’re holding bitcoin and need to diversify you should go into land(real estate), Gold, stocks and shares, that way you have better financial security.
I don’t know OP it looked like you classified Gold as a crypto asset in your post, that is wrong maybe it’s a mistake you need to correct.

[Shadiq]

When it comes to diversifying your investments, I definitely wouldn't recommend anything that is too risky. You have to make your own decisions about diversification and I think a person should be able to do that. If you think you are still inexperienced in this area and need advice, then I think you are not yet a qualified person to diversify your investments.

Advice is definitely needed, but not in choosing a sector. Rather, in managing it or maintaining it. I would recommend investing in something that you feel comfortable with. You can invest in businesses or even get involved in metal investments or real estate investments. Although there is risk here too, but it is controlled.

Altcoin investments or crypto investments are not yet advisable. Because there are hidden scams that are not always detectable. Even the percentage that the OP has revealed in the investment should not be done. Because, it is not certain who will invest how much in which asset. Another thing you did wrong is calling gold a crypto, which is confusing to many, especially newbies. You should definitely revise your post.

[Yablee0]

As a business man or woman it more professional and of an advantage spreading your investment plan across diverse way and pattern, in case of any future eventuality, you can not be sure about the future, Have seen so many investors that are into different investments deal and they are even doing very well, it all depends on how focused and committed you are to your business.

So many top investors that want down today was due to some mistakes made by having a single investment plan,  in as much as you are an investor of bitcoin, you can also look into other things you know is also legit and more profitable to have an uternative plan for future purpose.

[Hewlet]

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

There is an aspect of diversification that makes it look like the investor is a confused fellow that does not know where to concentrate his asset in. of cause there is nothing wrong about diversification and some investors might think that it is not safe to keep all ones egg in one basket but over scattering your portfolio might also be to your own peril in a way. it is best that you are into bitcoin, just focus on it and build your portfolio around it, if you are going to even opt for other complementary asset, it should be that you are going for one major one which you intend going all in for the long term and another you can go all in for the short term.

The beauty of an investment is that it worth is high which places you at a good profit. if for instance you only have 1M naira to invest and you start scattering that money into bitcoin, gold and even physical business, you will certainly not get the best out of such investment strategy. the higher the amount of bitcoin you are holding is, the easier it is to get profit from it when bitcoin experiences a bull.

[Grace333]

Spreading your source of income into crypto for sure go help, but e still get some other side wey people suppose reason well before jumping in… Crypto no be like normal business wey you fit predict steady, e dey very volatile, today price fit pump like mad, tomorrow e fit dump without notice. That is why is better that someone enter with spare money wey e fit lock up for long term, not the one that is important for daily needs…

At the same time, putting money into crypto no mean say you go abandon every other source of income. E makes more sense when you balance am, maybe you dey do your regular job, small side hustle, then add crypto investment on top. That way, if crypto market shake, you still get other streams holding you steady… Na the combination of multiple incomes plus patience wey go make everything sweet in the long run…

[Olatundespo]

Once you get used to a business you can start different types of businesses through it. Modern guys increase the number of items to modernize the traditional father's business. In the case of digital assets as we say diversification. The more products and different categories of products exist in a business the more your income will increase. If the profit of one product is low and the profit of another product is slightly higher and some products have to be sold at the purchase price, these are a business strategy through which an investor can get high profits. Experienced investors in investing in cryptocurrencies recommend you not to put all your eggs in one pot. The underlying purpose is that if for some reason the price of one currency decreases another currency can be helpful in recovering capital because the probability of dumping the prices of all currencies at the same time is very low.

[Jubilee58]

This topic is a very interesting one, because I fill it is the right thing to do is when you  spread your money into different fields of investment, that is, do not only base your investment in cryptocurrency, also make your investment in other areas like stocks. Even in cryptocurrency make sure you don't invest in one cryptocurrency, there are cryptocurrency with good potentials, spread your investment among them should in case any one did not give you what you expected, you can coverup with the other ones.

[Miles2006]

Diversification is actually good in terms of being able to fund the investments as mentioned, diversification requires a lot of money whereby an investor will have to collectively invest in different types of investment. Putting all your eggs in one basket is not advisable likewise going all in is still not advisable, as mentioned Gold, bitcoin and Altcoin although the percentage assigned for altcoin investment is not big compared to the others but, personally if going for diversifying pattern altcoin should be excluded due to the high risk involved. They’re other alternatives an investor can choose if they want a certain profit, meanwhile a starter should not think of diversifying their investment seeing they have just little profit and diverting attentions can be difficult while at the process when an investor is mature enough they can decide to spread their investment, two investment choice is still good for example Bitcoin and real estate etc.

[Justbillywitt]

investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

I was thinking you were going to advice investors to spread their income to other tangible business after investing in bitcoin. Over the last decade we have seen that bitcoin has out performed gold in terms of ROI and it will still perform more than it in the coming years so I would rather steak with bitcoin than going here and there in the name of diversification. As for altcoins you have to be very careful before you venturing into it before you end up losing your money. That money you want to put in altcoins you can use it and start up another business that can be fetching you money. A tangible business you have control over it is far better than investing in altcoins that is prone to rug pull.

[TokenTikas]

When some of have one particular business they do relies on that particular business, not knowing that having a particular without spreading business to different categories it may brings income collapse to the person

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

What I mean is that, the investors should not concentrate on a particular investment, else the may experience a bankrupt in the future if their business is not functioning properly.

We have to remember that if you have income from a single source, the risk will also be much higher. Diversifying investments is the need of the hour. The way you talked about balancing crypto, gold and altcoins is a very practical plan. Many people just lean towards one side and then get into trouble. But if everyone followed the perspective you shared, then maybe many financial disasters could have been avoided. But not everyone can think like this, those who can think like this can balance investments and real investments.

[Joy- maker]

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

There is not doubt that investing in digital assets is the best investment so far, but  It is not advisable to invest only in digital assets, so I will suggest you guys spread your wealth across traditional business, and digital assets, because Digital assets are very volatile it nature they  can fluctuate rapidly and dramatically, so if you are not patent enough when investing in digital assets you will end up selling off all your digital assets investment at early stage of accumulation. So in other for you to be able to hold your digital assets investment for long term since we make reasonable profits when we buy and hold for long term 4 to 10 years or longer.

[DubemIfedigbo001]

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future   

Many users have corrected you on the fact that gold is not a cryptocurrency, rather a physical asset and you invest into it by buying some quantities off a dealer digitally. and get a certificate of ownership. You have refused to edit your post until now, Are you not learnable or is it that you are not getting notifications on your topic?

What I mean is that, the investors should not concentrate on a particular investment, else the may experience a bankrupt in the future if their business is not functioning properly.

Having gotten into bitcoin, I have come to have less appreciation for investing in assets that is placed in a third party's custody. Secondly it is important to not that people should only invest from their discretionary income when they are into bitcoin, I wouldn't go for gold, I'll consider agriculture instead and for altcoins, that is a mistake I'm never making again. I believe that for more efficiency, we need to diversify into few investment vehicles and not a whole lot of them.

[Bright0515]

From the beginning I don't like keeping all eggs in one basket because if anything happens to the basket the whole eggs get crashed. Crypto currency is not the only means to invest into, there are many other investments out there
, real estate investment is also a profitable business or investment any one you would fall it, and other traditional business too, crypto investment can be manipulated through your final currency, just like you know how naira lost it value and dollar increases multiple times, now imagine naira gains value and dollar crash, all profits you made will reduce because Bitcoin is calculated in dollar not naira because dollar is more stable than most fiat currency.

[SOKO-DEKE]

When some of have one particular business they do relies on that particular business, not knowing that having a particular without spreading business to different categories it may brings income collapse to the person

Some of us like manual business, which is our traditional business, but I want a condition whereby we spread our business to cryptocurrencies, such as Gold investment and Bitcoin investment, and Bitcoin investment, investment 55% on bitcoin, 30% on Gold investment, 15% on altcoins investment, I think if we spread our investment in this way we most surely profit in future

What I mean is that, the investors should not concentrate on a particular investment, else the may experience a bankrupt in the future if their business is not functioning properly.

Honestly, relying on only one source of income or a single business is not really ideal especially nowadays as the economy has become unpredictable, particularly here in our country.The idea of diversification is really important whether into other businesses or investments, including exploring into digital investments like you mentioned: Bitcoin, gold, and some altcoins. With this smart move of diversification, risks can be reduced and long-term profits potentially increased.However, it is very important to understand the risks involved in any sector before investing in that sector or business.In short, diversification is key. Let's try to diversify into different sectors so that if one sector is affected, the others can serve as backup.

[Ever-young]

Spreading your income to buy altcoins isn't really what i will advice people to do as this can turn out to be a very high risk investment, and instead of making profits, which i believe is the main purpose of investing in altcoins, you could end  up losing your money. intead, I'd advice investing in other things, maybe gold, real estate and some other businesses or investment, and the profits can go into accumulating Bitcoin and more Bitcoin, which should be for the long term.

[Callido]

You need to be a master of handling separate business before thinking of diversifying. You can be jack of all trades but make sure to do it right without collapsing one side of the business. I advise anyone to first diversify and grow a physical business before diversifying into digital currencies, to be accurate about digital diversification, it should be invested in projects that has a long term goal without fading.

[Iroh]

It makes perfect sense to diversify your investments and not having to put all your hopes and of course, capital on just one.
Investing in crypto is really good and all but it's still a tricky one for some people. With all the alt coins already out there with lots more on the way, it really won't be difficult to lose all your money. Isn't it better to stick with bitcoin that has been there all these years, is safer and is also evident to give you some good profit in the long run?

[Cryptoprincess101]

Making money is not easy now, diversification is good and i like the assets you are advising people to invest on, but you see that altcoins you mentioned, they are high risk investments that has probability of ending in losses so i don't think we should take risks on investment that has possible losses in them. Gold and Bitcoin is a good investment that is very profitable in the long run because their values keep increasing as times goes and there is tendency that your investment in them can yield good profits, but you have to understand that diversifying one's business to another should be at a time when your business is flourishing so that even after investing on those assets you will still have some reserved or backup funds in case your investments doesn't grow as you expected.