Why You should not Invest all your money in One Coin (Steem, Bitcoin, Ethereum ): Diversification + Patience are important

Whether it is your personal life: relationships, jobs, aspirations or investments –you should never put all your hopes in one place. Remember the adage: Never lay all your eggs in one basket? Time and time again, many people get burnt because they put all their hopes on their partner, parents, friends, boss or even on an investment. Even though some are lucky with this strategy, many people, however, lose everything due to lack of diversification.

Jobs + Crypto: some people quit their job after earning some money on steem and or any other cryptos in order to focus 100% on steemit and or other cryptocurrencies. This is a good strategy if you have a big wallet and diversify. However, those with smaller wallet should be careful because crypto prices are highly volatile and thus someone can easily lose value of his/her investments. Therefore, keep your job and combine both until you are comfortable with your crypto earnings.

Related and unrelated industries: In diversifying your portfolio you can chose some undervalued tokens/ coins –examples, steem and elyte ( see www.elyte.tech) and then (if you have spare cash) invest in silver, gold, oil, real-estate and some good tech stocks . This strategy will help you to hedge yourself from external risks.

Patience: This relates to having control over your emotions and think long term . Remember that platform lie Steemit and most crpyto´s are not HYIP scams, therefore focus less on the ups and downs of daily crypto price, do your due diligences on the tokens/coins you want to invest and do not invest what you can’t afford to lose.

Do you agree? Send in your comments . Resteem in order to reach more people and upvote to send in your support.

Click here and read my former post:Will steem blockchain be the future of porn and adult publications ?

An Advert for a top new crypto https://elyte.tech

Join Elyte bounty via this link and win free cryptos https://docs.google.com/forms/d/e/1FAIpQLSeOcKUUoTU6IKr1qX5osYaWMdVL8-nB5RmroYtYBir6YYof9A/viewform

Join elyte.tech telegram group https://t.me/joinchat/E6tXj0dThqzzjVlWJRuxLw for info on their bounty and thus join the next best thing