Crypto is one of the most hot topics nowadays. Everyone is now looking at crypto as an investment purpose, but there are many crypto available to invest in. Most beginners find it difficult to invest in crypto due to lesser knowledge in this field. So if you are looking for a guide on investment on crypto currencies then here are a few tips that you should follow. So let us get started with our blog.
Here are the some investment tips to build a good portfolio:
Invest in more than one crypto currency
As a beginner I have also invested only in Bitcoin to make profit, but instead of this I have lost my funds by 12%. So it is recommended that you should invest in more than one crypto currency. Here are the following reasons you should invest in different crypto currencies.
Firstly, it reduces the risk that you are going to lose everything if your single investment loses its value. If you spread your funds across different crypto currencies, then it gives you more options and avenues for making money. If one currency drops in value, then there will be another currency which will have increased in value. This means that you can make the most of the cryptocurrency market and still profit from investing with several coins or tokens at once.
Build a crypto portfolio
There are different providers from where you can buy crypto currency. Checking the status of all the crypto might be a very hectic and very complex task. A crypto portfolio does this job. It contains all the lists of your investment which will make your crypto portfolio tracking very easy.
About Crypto Portfolio
If you just put one investment into a single token, then you will be able to tell if this one token has increased in value over time and whether or not there are any changes in its value. However, if you put all of them into various cryptocurrency tokens, then this will make it harder for you to tell how much each one has increased or decreased in value over time. This is because different altcoins can still be moving in opposite directions at the same time. You should aim to spread your tokens out across multiple altcoins and crypto assets, which will help prevent this from happening. You should also focus on building a crypto portfolio and learn about crypto portfolio tracking so that you can have a look at your investments.
Keep A Track Of Your Portfolio?
Well it is quite a simple task to track your portfolio. There are various service providers which work on this. This is the most asked question about how to track portfolio. One of the most recommended platforms is Binocs. They are best at tracking portfolios. You will not be required to share your personal information, even KYC is not necessary. You can just start by signing up from your gmail account. All you will need is to connect your wallet. It is totally safe as they do not share your personal information.