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RE: How To Lose Money Trading Crypto :/
- Great point - people see it going up and think they will become millionaires if they just hold on. take profit invest in something undervalued, rinse and repeat.
- invest in small market coins - they risky but do your homework and it can pay off big time
3)How was underestimating BTC a mistake if you should have made more by investing in those 3? You must have got in at the wrong time (well vs BTC), which is everything in crypto. I bought IOTA and NEO and if i had chosen BTC i would be no where near where i am now. My entire portfolio (over 20 coins) is doing better vs BTC
Of course you could make more money by trading altcoins than by holding bitcoin, but it sure is a risky way to go. I believe that everyone should hold a couple bitcoin to minimize that risk!
Thanks for the comment! :)
Oh i agree, i think people should hold some of either BTC or ETH since i think they will be the backbone of the crypto space for the next little while. The major coins are also the safer bets and that is the majority of my portoflio (top 20 coins). If your willing to put in the time to research i think its a good gamble to throw some fiat to the smaller market coins - but mostly just to take the profit to add to the bigger coins.
If you don't have the time then for sure stay with the big boys.
Best of luck