Undoubtedly, crypto investments have become one of the most lucrative investment opportunities in recent years. But unfortunately, about 66 percent of investors only have Bitcoin in their portfolio, which means they’re missing out on juicy ROIs. And the truth is that a balanced crypto portfolio is the best way to get more bang for your buck.
Would you like to expand your crypto portfolio? If so, we recommend that you keep reading since we’ll give you a couple of pro tips for portfolio diversification.
Invest in Altcoins
Even though Bitcoin investments may yield a higher return on investments, it also means you’ll need to spend a lot more on the initial investment. Fortunately, there are hundreds of different Altcoins you can invest in to diversify your crypto portfolio. Here are some of the ones crypto experts suggest starting with:
- Binance Coin
But, keep in mind that Altcoins are meant to be HODL (hold on for dear life), which means you keep them for a long period, so don’t expect to get rich fast by investing in these coins. Moreover, only investment in Altcoins that have shown a good track record. And, be sure to search online if you want to read more about certain Altcoins.
Hire a Crypto Advisor
Like a financial planner, a crypto advisor manages all of your assets and can also look for new crypto investment opportunities. As a result, an advisor can create a crypto portfolio without you needing to break a sweat. But, of course, you’ll need to make sure you find a reputable advisor since not all of them make the right investment choices.
Additionally, an advisor will keep a certain percentage of your investments, which may lower your overall ROI. So, make sure to calculate the risk rewards of employing one.
Use a Crypto Trading Platform
Apart from buying and selling cryptocurrencies, exchange platforms show how well (or bad) a certain coin is doing. As a result, you can use that information to diversify on different coins. For example, if you notice a positive trend for a new Altcoin, then you can get a head start by investing in it before it’s more expensive to buy.
Alternatively, many exchange platforms offer hundreds of different Stablecoin and Altcoins, which means you can easily start investing in one of them, all in one platform. Moreover, if a coin begins to go down in value, you can easily sell it and invest in a different one.
Start to Diversify Your Crypto Portfolio Today
As you can see, there are numerous ways you can start to diversify your crypto portfolio. But, of course, it takes time and dedication to start making a decent return on investment, so don’t feel frustrated if you don’t see immediate results. So, stop limiting your ROI and start diversifying your portfolio today!
Would you like to read more posts that can help you gain more in your investments? If so, feel free to check out our other crypto-related topics before you go!