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Time To Build a Cryptocurrency Portfolio

One month ago CoinSavage posted, Money Flowing Into Bitcoin and Other Cryptos. At that time the total market capitalization of the crypto asset market was $231 billion. Exactly one month later that figure has nearly tripled, and now stands at over $610 billion. The new money pouring into cryptocurrencies / assets is NOT all going into Bitcoin. The “altcoins” (crypto assets other than Bitcoin) are increasingly being discovered and attracting fund flows. It is time to diversify your portfolios beyond Bitcoin and build a balanced cryptocurrency portfolio.

cryptocurrency portfolio

(Source: CoinMarketCap)

Crypto is More Than Bitcoin

Last week I was asked what I did for a living at a social gathering. Despite the recent hype surrounding cryptocurrencies, I still paused before answering… wondering whether this person really wanted to go “down the rabbit hole”.  The conversation usually goes something like this:

Unassuming Acquaintance- “So, what do you do for work?”

CoinSavage- “<insert paused>… I work at CoinSavage.com, it’s a crypto asset investing website.”

Unassuming Acquaintance- “So you mean Bitcoin?”

CoinSavage- “Well it’s more than that…”

Later the person usually walks away, not quite sure what just happened other than that some guy just talked to them for the entire party about “Bitcoin stuff”. Don’t fault me, I tried.

The truth is that an entire universe of use-cases for crypto assets exists beyond Bitcoin and its particular use-case as “digital gold”, and you need to diversify your crypto portfolio if you are going to survive the many ups and downs of this emerging asset class.

Here Are a Few Cryptos That I Follow

Why would I follow something and not invest in it?

…Exactly, as a disclaimer, I am invested in all of the assets below.

A very brief overview:

 

  1. Bitcoin (BTC)– Obviously the most recognized cryptocurrency, with “digital gold” as the user case / investment thesis.

2.  Ethereum (ETH)– Allows for “smart contracts” and therefore should be thought of as a platform enabling many other decentralized applications.

3. Bitcoin Cash (BCH)– Created from a “fork” in Bitcoin this year. It’s more of a medium of exchange than Bitcoin currently.

4. Ripple (XRP)– A partner to banks and other institutions involved in (mostly) cross border payments. See The Case for Investing in Ripple (XRP).

5. Stellar (XLM)– Kind of like Ripple but open-source and not as focused on partnering with banks.

6. OmiseGo (OMG)– A decentralized currency exchange. Think about it, your assets are probably on a centralized exchange like Coinbase which attracts bad actors (hackers, etc).

7. Augur (REP)- A decentralized prediction network. Forecast events and get rewarded for accuracy.

8. Golem (GNT)- “Air BnB of Computer Processing Power”

9.  Factom (FCT)- Decentralized blockchain for securing documents of all kinds.

10. Game Credits (GAME)- A cryptocurrency for gamers (think in-game purchases, etc).

…I’ll stop there. We provide further analysis of several of these assets in our Token Reports section.

Invest Savagely.