03-07-2021, 11:36 PM
Buying shitcoins is not diversifying, it’s gambling
<!-- SC_OFF --><div class="md"><p>Lately I’ve been seeing posts by people wanting to know what goins they should invest in to “diversify”. Seeing these posts suggest that a lot of people think bitcoin is a safe bet and wanting to buy other coins to outpace bitcoin - all while calling that diversifiyng. Bitcoin is still considered a speculative asset, so buying shitcoins that are basically tied to bitcoin (in the sense that if bitcoin takes a dump, the rest of crypto takes a dump too). </p> <p>Buying these shitcoins to reduce your investment risk is IMO wrong. You can win more, but you can also lose more buying shitcoins. It’s gambling, not risk management.</p> <p>Just to clarify - i believe there are lots of useful and innovative projects on the market, and i support investing in those. But putting 50$ in every shitcoin you hear being shilled online is not investing.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/HvideRiddere"> /u/HvideRiddere </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lzqhhj/buying_shitcoins_is_not_diversifying_its_gambling/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lzqhhj/buying_shitcoins_is_not_diversifying_its_gambling/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Lately I’ve been seeing posts by people wanting to know what goins they should invest in to “diversify”. Seeing these posts suggest that a lot of people think bitcoin is a safe bet and wanting to buy other coins to outpace bitcoin - all while calling that diversifiyng. Bitcoin is still considered a speculative asset, so buying shitcoins that are basically tied to bitcoin (in the sense that if bitcoin takes a dump, the rest of crypto takes a dump too). </p> <p>Buying these shitcoins to reduce your investment risk is IMO wrong. You can win more, but you can also lose more buying shitcoins. It’s gambling, not risk management.</p> <p>Just to clarify - i believe there are lots of useful and innovative projects on the market, and i support investing in those. But putting 50$ in every shitcoin you hear being shilled online is not investing.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/HvideRiddere"> /u/HvideRiddere </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lzqhhj/buying_shitcoins_is_not_diversifying_its_gambling/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lzqhhj/buying_shitcoins_is_not_diversifying_its_gambling/">[comments]</a></span>Kind Regards R