Hello, friends welcome to my post in which I have discussed about crypto diversification as part of my participation in this 👉contest organized by @khursheedanwar

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In the crypto space diversification of portfolio is the easiest way of succeeding in the crypto industry. The word crypto diversification simply means putting your money into more than one currency. Instead of investing in one currency, you should split your investment into multiple currencies to enjoy the benefits of crypto diversification which we have shared in this post.

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Benefits of Crypto Diversification

A real investor would always want to own so many cryptocurrencies for the following under-listed benefits which are;

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• Risk management:

Diversifying your investment in the crypto industry across multiple assets will help you reduce the risk of significant losses in case one or more assets underperform. We have many cryptocurrencies with different use cases and functions one will be underperforming the other may be performing well which helps to cover up your losses.

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• Exposure to Growth and Opportunities:

Crypto diversification exposes an investor to growth and opportunities in the market. For example, there are some cryptocurrencies that one can stake and earn rewards whereas there are some you can stake or vote for governance which with the help of diversification you can get exposure to Growth and Opportunities.

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• Balancing Volatility:

We all know how volatile the crypto market is, but with diversification which is all about you investing in multiple cryptocurrencies, you can overcome the high volatility of your portfolio going down.

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• Hedge Against Market Fluctuations:

In the crypto market, it is not all currencies that move in tandem, and with the help of crypto diversification, you can protect your portfolio from a market downturn through the holding of multiple assets for potential growth.

As a crypto trader and investor, I have so far diversified my investment into multiple cryptocurrencies, because I so much believe in the power of crypto diversification. Having said that, some of the cryptocurrencies in my portfolio are:

Screenshot from Mexc

• STEEM
• MX
• TON
• CORE
• TRX
• BNB
• DOGS

Diversification is based on individual beliefs in my case I choose to invest In the assets that Iore comfortable holding rather than the ones I am not comfortable holding.

I am inviting: @dove11, @simonnwigwe, and @dave-hanny