Pros and cons of one crypto coin (Altcoin) investment

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5 days ago

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This is true that all the crypto coins doesn’t perform the same at the same time. But when market is green, most of the coin pump but the price pumping rate is different. Recently an experiment gave me this concept, I was trying two coins for trading when both coins were green but different price pumping rate give me idea to finalize the coin that worth trading or buying. Later I experiment with some other coins and the finale result made me satisfied with one specific coin. Investing on specific coins is fine but investing on only one coin can be risky even it may have good reputation in crypto industry.

Advantage of investing only one coin for me to focus on only one coin and it doesn’t take a lots of time to observe and set a buying or selling orders. When we invest on multiple crypto coins, we need to research on each coin and keep observing each by spending a lots of time. Though this thing is absolutely personal maybe you are expert on dealing with multiple crypto coins by spending a few minutes. I'm slow on observing and researching and time is short to focus on multiple crypto coins.

Bitcoin is a boss coin as I always consider it the king coin in crypto market. Last night the price of it was again $100k worth plus and investing on it has advantages. Actually I was talking about Altcoins that constantly pump and dump but sometimes shock us with deepest dump and surprise us with big pump. As a Altcoin trader and investor I personally experienced some pros and cons of investing on a single Altcoin. Though my favorite crypto coins are many.

Recently I tried to trade Solana and bought unwisely high and the price increase rate was poor of it. Solana is a reputed coin but it couldn't help me on trading when the other coin was pumping impressively and pretty high in rate. Altcoin investors should try investment on multiple potential and reputed coins in the market though I personally prefer focusing on only one coin which has high risk but the gain is satisfying to me. Honestly, right now I'm focusing on two coins and if these two perform fine I may not try some other coin next time.

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Thanks for the insights shared

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5 days ago

most welcome and thanks for reading my words!

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