Hi hivers, if you are looking for the informaton regarding "The Best Strategies for Managing Your Crypto Portfolio," then you have landed in the right place. Crypto portfolio is not easy to manage because you can see the recent crash, so it is unpredictable and has lots of thrills, so it is not easy to manage. Picking the right coins is necessary, but this is not enough because you need a strategy to manage them properly and correctly. For that, you need discipline, a plan, and awareness, and this is applicable for both old crypto investors and beginners.
There is a golden rule in crypto, and that is diversification, and if you are investing without diversification, then you are going into a big blackhole. If you make a proper plan, then you have to follow a proper crypto portfolio, and you can do it by setting a balance in your crypto investment. So you should have an investment in large-cap coins like Ethereum and BNB. Also, there is a king in crypto, which is Bitcoin. Also investing in small coins. USDC, HBD, and USDT are stablecoins, and you should have them too.
Crypto price is volatile, and we all know that. That is why we have to rebalance time by time. Let me give you an example, we have to behave according to the situation, so if Hive coin is rising and other coins are not, then you can book the profit, and in another scenario, if Bitcoin is rising, then in this case, you can book some portion there too. This way, you can rebuy when the price gets cheaper.
Fundamentals are also most important here in crypto because fundamentals are more effective than the chart and analysis. You have to follow coin pages and social media handles, and also join the groups to analyze the data and implement it. By doing this, you can understand which coins are stronger and which coins are hype based coins.
You can do things manually, but tools make your work easy; that is why you have to use tools such as Zapper, CoinStats, and the CMC portfolio tracker. There is one more thing, and that is using the dollar cost average strategy, so follow that too. By following these things, you can easily check real-time performance. That is it, and now I am winding up this blog, and now I am signing off. Meet you next time.
