Build your Cryptocurrency trading portfolio
Of course, it all started with Bitcoin and most of the other coins probably owe their existence to the Bitcoin’s success but no one can deny that currently some of these coins like Ether, Ripple etc. promise a much better return on investment. The trick for every Crypto trader is to choose a balanced set of coins to slowly build a robust portfolio. Building a portfolio demands both, time as well as money. Choosing the right set of coins for your portfolio not only increases your trading flexibility but also provides you with a cushion against any market slumps which are inevitable given the volatility of the digital currencies.
You can choose crypto trading platforms like finex.me to buy coins and create a diverse portfolio using their expert guidance. Two crucial points to consider while building your portfolio are discussed here-
- Identify the coins with potential– Given the hundreds of coins available today and only a handful of them being known to most of us, it requires a lot of research and expertise to choose the coins with a strong base. For example-ETH is in demand for its “Smart Contracts” and Ripple’s XRP drives its demand for its usefulness in the Banking systems. Therefore, choosing coins that have solid idea or foundation is more advisable.
- Swing Trading strategy- Instead of stressing yourself in tracking coin movement for daily trades, you can hold and take advantage of large market movements, selling your coins to lock in the expected profit. And, you can use the profit to expand your portfolio even further.