I hear a lot of people talk about diversification in crypto by owning a wide array of alt coins. I am going to call BS on this method of diversification. In traditional financial investments diversification is a strategy used to minimize downside potential. By diversifying your investment you are not putting all of your eggs in one basket. So if a business or market sector that you are invested in tanks, you have other investments that minimize your potential loss.
In the crypto market all coins are tied. The entire market rides up or down together. There are very rarely outliers. So it is best to view crypto as a market segment. Diversifying your holdings by just holding different coins is not going to do you any good if the market is headed south.
The only real way to diversify in crypto is to mine. By purchasing cloud mining contracts, building a mining rig, and engaging in (minimal) trading you can diversify your daily earnings through different earning opportunities. Diversification in this manner will keep you focused on your daily mining earnings and have you less concerned with the daily ups and downs in the market.
Here is a video I made explaining my strategy: