Is it better to invest in established cryptocurrencies or new emerging ones?

3 answers

• Nov 23, 2021 · 3 years ago
  If you're looking for stability and a proven track record, investing in established cryptocurrencies like Bitcoin and Ethereum might be a safer bet. These cryptocurrencies have been around for a while and have gained widespread adoption. They have a large user base, high liquidity, and are more likely to be recognized and accepted by merchants. However, the downside is that their growth potential may be limited compared to new emerging cryptocurrencies.
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• Nov 23, 2021 · 3 years ago
  On the other hand, investing in new emerging cryptocurrencies can be more risky but potentially more rewarding. These cryptocurrencies often have innovative technologies and concepts behind them, which could disrupt industries and create new opportunities. They have the potential for rapid growth and can provide early investors with significant returns. However, it's important to note that many new cryptocurrencies fail to gain traction and become worthless. It requires thorough research and understanding of the project's fundamentals before investing.
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• Nov 23, 2021 · 3 years ago
  As an expert at BYDFi, I would recommend diversifying your investment portfolio by including both established and emerging cryptocurrencies. Established cryptocurrencies provide stability and act as a hedge against market volatility, while emerging cryptocurrencies offer the potential for high returns. By spreading your investments across different types of cryptocurrencies, you can mitigate risks and take advantage of opportunities in both established and emerging markets.
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