How to build your crypto portfolio with a low income
I have given these tips to fellow family and friends before and it is working out great for them, which is why I write this post with confidence knowing that if you follow some of these steps you will easily grow your portfolio over the coming months and years.
The aim I have is to grow my portfolio reliably and as fast as possible but like most people I don't have a couple thousands £ laying around to invest. So how did I start? I saved every penny I could and once a week I would buy as much of a currency as I could, my job pays me weekly so every week I have a set amount I put into crypto as soon as I get paid.
Now if your going to do this remember only put in what you can afford and don't need. I am not planning to withdraw any money out of my portfolio for a long time as I only add in cash that I don't need. It doesn't matter how much you have anything a week will do it all adds up over a year even if it's just £10 or £20 a week.
So your willing to put some money aside weekly to invest but what do you invest in? This is completely up to you and you should always do your own research on every coin you invest in, never invest in a coin because you saw someone say some good things about it do your own research! However I will show you how I structure my own wallet
10% Bitcoin
10% Ethereum
10% Litecoin
20% Fiat cash
50% Alt coins
Why have I structured my wallet like this? One word diversification! If you have 80% of your funds in one coin and that coin for whatever plummets to nothing you will have lost a lot of money and it will more than likely put you of from investing again. No matter how confident you are in a coins success never but more than 20% of your whole portfolio in to it.
Another question some people ask is why do I keep 20% of my portfolio in fiat money, this is because sometimes a coin will dip a lot a huge amount and if you know that it will rise again then you need some funds to be able to purchase it.
What I suggest with investing in altcoins is do a lot of research. There are hundreds of coins out there and not all of them are good, many are pointless and doomed in failure so you need to find the good ones. How? Research! You want to invest in coins that have real world uses and have some sort of value to the world, read the white paper and make the choice yourself, technical analysis is also good but should not be used on it's own.
One final tip I have for growing your portfolio is when you see one of your coins has risen above 50% or maybe even less just when they are doing very good and are in profit sell some of it and reinvest it into a new coin or another coin you own that has not yet boomed. By doing this you will grow your portfolio much faster then just sitting round and waiting. Don't forgot to carry on with your weekly payments either, when your portfolio grows big enough the weekly investments will seem pointless but trust me they're not they got you to where you are now!
If you would like to learn how to keep your cryptocurrency portfolio safe read this post I made the other day on how to keep them away from thieves and criminals the link is below.
https://steemit.com/cryptocurrency/@s10/how-to-keep-your-cryptos-safe-from-nasty-hackers
