Community post
How NOT to DIVERSIFY your Portfolio (Beginner Guide 4)
I made the same mistake in 2017 when I just started crypto... DO NOT spread yourself to thin.
Diversification is VERY important in order to KEEP the money you already made. But it will only slow you down if you are starting out.
Once you make money, then it's time to look into other asset classes like real estate or gold and diversify properly.
▶️ 3Speak
Replies (9)
That is great teaching Sir!, we need to diversify our business as investors to prevent too much losses when they occur, as someone just advised us never to put our eggs in one basket, should the basket fall, all the eggs will be broken.
This is one of the hardest challenges there is from one hand you do not want to put all th eggs in one basket on other hand in what to choose and how much is very hard.
My solution for this is just be a multi millionaire and that it 🤪
Posted using Partiko Android
I definitly made this mistake in the begining before I had a good understanding of cryptocurrencies. I think everyone in the beginning is hoping for a bitcoin like scenario. Hoping that if they put a few bucks into some really cheap coins, one of them will make it big and then they will be rich. Ive definitely matured in my thinking of crypto but still often make mistakes so I appreciate these videos. Good video as always. You make a good point.
That sounds like good advice. I actually wish I only invested in bitcoin. I should start watching these. I have a lot to learn lol
Posted using Partiko Android
You are doing a great job with your tutorials. Thank you for sharing your cryptocurrency experience with all of us Steemitizens.
Have you checked out STEEMLEO? It is the Steem DApp/Community that is focused on investment. You might wish to use the #steemleo tag to gain an even greater audience! It works the same way as the #palnet tag from what I understand.
Thank you once again for being part of the #newsteem.
I’ve got a lot to learn as well. These videos really help. I also agree with the guy below me. There is the whole fear of putting all your eggs in one basket. Although, as far as crypto goes, for me anyhow, diversifying is about 2-3 different coins lol so I’m already diverse by my standard. It would be nice to be able to spread more though without going too thin, which is why I am now here, responding and participating in the steem community. :)
Beauty of this place is that you can earn for your thoughts, ideas, and input. A beautiful model!
Posted using Partiko iOS
I'm doing some diversification by investing in some of the Steem Engine tokens.
If you want to make money find the one opportunity and harvest it. It does not make any sense in such a scenario to use only a tiny fraction of your available capital and 'diversify' the larger part of it to unimportant coins. Most people 'diversify' because they do not know what to do at all and are looking for a lucky hit. Usually diversification is for people having money, not for people who want to make money.
This post earned a total payout of 34.713 worth of author reward which was liquified using @likwid. To learn more.