RE: Today I bought my first Ethereum, tomorrow Litecoin....Is it good to diversify with Crypto?

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Today I bought my first Ethereum, tomorrow Litecoin....Is it good to diversify with Crypto?

in steemit •  8 years ago  (edited)

I would put 1/3rd of that $1000 on Litecoin, 1/3rd on Bitcoin and a 1/3rd on Ethereum. Maybe even 3/5 of it on cryptos and 2/5 of it on cloud mining contract.

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8 years ago by

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      ·  8 years ago 

    Thank you for the advice. OK i got all of what you said, but the Cloud mining contract. I have heard so much about mining but absolutely know nothing about it, so I will have to research and see what that is all about.

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      ·  8 years ago 

    do not put your money in a cloud mining contract. simply put, you will make more by just buying cryptos than purchasing a cloud mining contract

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        ·  8 years ago 

      I'm all for diversification.

      I've recommended to folks that get started on Coinbase - depending on whether it's available in their country - to either do 1/3 each, or 1/2 and 1/2 BTC and ETH.

      Watch for a while, then move over to Poloniex, Bittrex, or Cryptopia and start trading. Don't be afraid of mucking it up a little - I sure did when I started.

      There's also the automatic regular withdrawal option with Coinbase, where you just set it and forget it and do a little on a regular basis.

      Go get 'em!

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          ·  8 years ago 

        This is great information. I have a Bitcoin Wallet with a bunch of Bitcoin in it, but have not learned how to trade from my Bitcoin wallet with other platforms. It is all a bit confusing but gotta start somewhere, thanks for the help.

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          ·  8 years ago 

        I would also recommend putting a small amount maybe 1/10 in other cryptos such as ripple or monero which could be rising up in popularity soon

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