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What is the best strategy for building a cryptocurrency portfolio from scratch?

avatarSandhya Manohar KaitkarNov 28, 2021 · 3 years ago1 answers

I am new to cryptocurrency and want to start building a portfolio from scratch. What is the best strategy for doing this? How should I choose which cryptocurrencies to invest in and how much should I allocate to each? Are there any specific factors or indicators I should consider? Any advice on diversification and risk management?

What is the best strategy for building a cryptocurrency portfolio from scratch?
Cryptocurrency
Portfolio
Investment

1 answers

  • avatarNov 28, 2021 · 3 years ago
    Building a cryptocurrency portfolio from scratch requires careful planning and research. Start by setting clear investment goals and determining your risk tolerance. Consider investing in a mix of established cryptocurrencies and promising altcoins. Look for projects with strong teams, innovative technology, and a clear use case. Diversify your portfolio to spread the risk and consider allocating a portion of your funds to stablecoins or other low-risk assets. Regularly review and rebalance your portfolio to ensure it aligns with your investment goals. Consider using a platform like BYDFi, which offers a wide range of cryptocurrencies and advanced portfolio management tools. Remember to stay updated with the latest market trends and news to make informed investment decisions.

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