Sirwin
Sirwin

Is having more Cryptos in for your portfolio bad?


I remember at one point in time I had around 30-40 cryptos in my portfolio back in 2017-18. Whenever I used to hear anything good about crypto, I used to buy it in small quantities. I have almost every other crypto I guess and thus it got cluttered in the bear phase more than half of them have been going to almost zero or have been removed from the exchange itself.

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PC: Pixabay.com

Generally speaking a lot of cryptos in your portfolio is actually bad. But again I am not saying that you should not have, if you are investing as per your strategy and if it's working then having more crypto doesn't matter at all. But what I have seen from my experience is that it is never good. The problem is you cannot give equal time to each and every project and see what is going on in that project which can trigger your buy or sell.

For example, in Hive, we have so many Hive Engine tokens either airdropped or bought. But there are a handful of tokens which a person will be using and thus he will track only those tokens and his actions like buying more or selling will decide on that itself. It's really impossible for someone to track more than 10 projects at one time. Though I still have those coins which I have bought in 2017-18 because actually, I cannot sell them in exchange as the price is too down. But I do not buy any new coins, only ones which I think are worthy of my time.

Whenever someone starts investing, they know what they are investing for that is what is the end goal. And when they need that money like 5 years down the line or after 20 years down the line. And same has to do with crypto too, if it is evergreen coins like Bitcoin or Ethereum then yeah we can think of continuing investing but if you are investing for trading then it's not good to keep it for long because you never know will it stay for that long or not.

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codingdefined
codingdefined

I am a Proud Indian working as a developer in the tech hub of India (Bangalore). I am also a blogger who loves to write about technology, finance and programming.


CodingDefined's Blog
CodingDefined's Blog

I am a Proud Indian working as a developer in the tech hub of India (Bangalore). I am also a blogger who loves to write about technology and programming.

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