I am about to let you in on my favorite type of Bitcoin investment strategy.
This also applies to other cryptocurrencies (as you’ll see) so you cover many coins at once.
Just know that this is only one tactic out of many. You can incorporate this strategy with another strategy to branch out.
“Don’t put all of your eggs in one basket” is a saying that you’ve likely grown tired of. However, this saying is pretty important in the world of investing.
If you invest in one and only one coin, then you rely on the success of that single coin for your own success.
If the coin soars, you succeed. If it tanks, then you’re out of the game.
However, in the next few years, I predict that many coins will plummet and only a few will continue to grow.
How do you know what coins will take off? For the most part, you don’t!
That’s why you have to diversify your investments.
Diversification means to place in many different areas. Spread out your investing across many areas.
Fortunately for you, there are literally hundreds of coins to choose from. That’s a lot of diversification.
What do you do? Pay close attention to the Top 100!
In January of 2017 a guy decided to make a very bold move. He took $1000 and put $10 into each of the top 100 cryptocurrency coins.
What happened that year was shocking. His investment went up more than 50x over.
That’s right. He had earned over $50,000. In one year alone.
However that wasn’t due to the success of any single coin. That was due to the success of cryptocurrency as a whole.
2017 was known as the “Year of Cryptocurrency”. And I think 2018 will continue its upward trend.
Bitcoin’s not the only big giant.
I predict that Bitcoin might not have a huge future as many people think. So many experts were predicting Bitcoin to hit 6-figures very soon.
They still might be right, but if Bitcoin skyrockets, I have the feeling other coins are going to skyrocket even more.
Pay attention to the other coins – not just Bitcoin!
These other coins – Ethereum, Ripple, IOTA, TRON etc – all have very promising futures. Each of them offers something slightly different to the world.
In fact, most of these coins (and more) solve problems that Bitcoin possesses.
That’s right; Bitcoin is not infallible. Bitcoin is not without its flaws.
These other coins possess scale-ability that Bitcoin doesn’t. Simple as that. Pay attention to that fact.
Invest not just in Bitcoin – Invest in many.
You don’t have to invest in all of the top 100 like that guy did back in 2017. You can chose a more narrow variety.
However, get your investment out of only 2 or 3 coins.
Here’s how to do this.
Sign up for an account on either Binance or YoBit. I recommend these two because they’re super fast to get started on.
These two exchanges offer so so so many coins to choose from! And it’s incredibly easy to buy $5, $10, or $20 – whatever you want – in each of many different coins.
This type of investment strategy is not only likely to be successful; it’s also very fun
Just don’t get addicted to checking price graphs – this can be a destruction of productivity!
Check in once per week, but other than that try not to check the price of all of your 20 or 50 coins (or however many in which you invested).
The prices go up? Don’t get too excited. The prices go down? Don’t panic. Remember, you’re not even going to do anything with these coins until after your year (or how long you decided upon) is complete.
Keep track of what you bought in at
Here’s how you simply do this. Document how many coins you bought at what specific price.
That way you’ll be able to know 3 or 4 months in how you’re doing overall. I recommend every quarter updating your spreadsheet.
You’ll notice something obvious; some coins go up, some coins go down.
Pay attention to what coins are going up in value. Ask yourself, “Why did this one increase?”
You’ll start to notice patterns
You’ll notice – I’m taking a guess – about 3 or 4 coins have been more successful than others.
And these coins might surprise you; you might not have heard of them before (even though you bought them because they were on your list).
Do your research into these few coins and decide for yourself if these coins could keep going up. If so you might choose to invest a little more in them. And you’ll be doing so quite not-randomly, too!