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RE: Strategy to Store Wealth in Cryptocurrencies
Good strategy! Diversification is key no matter what you invest in. It's unwise and risky to put all your money into one stock just as it is now with one cryptocurrency. While having a fair percentage of your crypto wealth in Bitcoin is probably not a bad idea, spreading the rest out among other top crytpos is smart as no one knows which one (or ones) will do the best and still be around 5 years from now. Right now I love Dash and hope it succeeds, but ETH, ETC, LTC, and XMR are also good bets I think as well.
I would put most of my money in 1 place if I would know that it's secure, but we are not in that stage yet. All of this technology is still experimental, we don't even know if the underilying encryption is secure even (quantum computers).
Plus the number of zero day bugs and such still make these coins risky. Maybe in 10 years we can say that those that will be around will be reasonably safe.
Totally agree. Important to take some profit here and there too in case crypto all blows up one day!