Well as you already know i am quite a curious person in general so you should be used to hearing questions like that coming from me. Most likely nobody will answer anyway but who knows? Even if we manage to get 5-10 replies it will be useful not only for my curiosity but for many other people as well! Information matters in this world and especially when we are talking about investments.
So if you have been around the world of investments for a long time or even if you just starting out you might have heard about diversification. Basically, the idea in general is to have multiple investments of different kinds of things for example, stocks, precious metals and crypto. Or to be more specific if you choose only one of the mentioned categories, instead of going all into the Amazon stock or to Hive or to Silver, it's better to diversify.
For instance, instead of only investing in Amazon, you can invest in Airbnb, or invest in Hive you can invest in BTC, or instead of silver, you can invest in gold as well. Ofc this is not a financial advice i am just giving you an idea of what diversification means. Basically, it means not having your eggs in one basket because if something happens due to a new regulation or if the company has issues or the crypto dumps then you will lose everything. Having a diversified wallet though, you may lose from somewhere and win from somewhere else!
Now let's talk about me. I am in general quite noob in terms of investing because i have invested quite a few amounts of money out of my own pocket. I don't risk that much in general, mostly not at all but i as i say, baby steps! I have no stocks and only 2-3 silver coins, 2 of which i purchased last year. Not much of an investment but it's an honest work as the meme says.
Thus, my cryptos are the only form of investment i pretty much have, talk about diversification right? To make matters worse for me 80% of my crypto wallet is focused on Hive ecosystem, with hive and HBD being the number one asset i hold. Besides that, i got 1 BNB and around 50 RUNE. Not even BTC but i plan to.
As you can see and understand i am not a role model and i need to diversify my crypto wallet which is what i plan to do in 2024. Ofc Hive and some of its tokens will be my number 1 investment as i believe so much in the potential but still i consider us underrated and if it goes like this i am afraid of the worse.
Now my question to you is how are your Investments Diversified?
