Ep. 64: Are You Holding TOO MANY Cryptocurrencies? (ADA, SOL, DOT, AXIE)
Hey everyone! In this episode we’re talking about whether you’re holding too many cryptocurrencies. With so many coins to choose from, it can be difficult to decide which ones to invest in.
The first thing to consider when deciding how many coins to hold is your overall risk tolerance. If you’re comfortable with taking on more risk, then you might want to consider holding a wider variety of coins.
The second thing to consider is the purpose of each coin. For example, if you’re looking for a long-term investment, then you might want to hold a more established coin like Bitcoin or Ethereum. If you’re looking for short-term gains, then you might want to consider more speculative coins like ADA, SOL, DOT, or AXIE.
The third thing to consider is your portfolio size. If you’re just starting out, then you might want to keep your portfolio small and focus on a few coins that you’re comfortable with. As your portfolio grows, you can add more coins to diversify your holdings.
Finally, it’s important to keep in mind that no one coin is a sure thing. Cryptocurrencies can be volatile, so it’s important to be aware of the risks associated with each coin you hold.
Thanks for watching!