Investment is all about risk taking. I understand the perception that any form of investment scheme that has a high level of risk is not worth taking. However, I also believe that everything that has to do with human life involves risk taking.
In the world of investment, bigger risk taking means a bigger potential reward. In cryptocurrency investment, there is no guarantee of success, and the same can be said of failure, but there is a guarantee of risk reduction with the right strategy.
Any investment advice that involves “risk reduction” is not complete without making mention of diversification of a portfolio.
People hold the perception that wide diversification means total confusion on the half of the investor, but that is not the case. Diversification increases one chance of finding an asset that will thrive when others fail.
This article will introduce readers to three cryptocurrencies that are cheap enough for portfolio diversification.
Bitcoin Lite (BTCL)
BTCL was launched in November 2017 and has recorded an impressive record since its inception. This digital asset presents itself as a better option to Bitcoin in terms of their functions. BTCL is lighter than Bitcoin, and more importantly, has a better average block time than Bitcoin.
Bitcoin has an average block time of 10 minutes while Bitcoin lite, on the other hand, has a block time of 15 seconds. On any bad day, it takes between 1-3 minutes to confirm transactions, which is way better than Bitcoin.
BTCL runs on the Ethereum blockchain and comes with all the advantages provided by this technology.
According to its official website, BTCL has a total supply of 21 million, and a current market price of $0.0034, which is cheaper compared to its potential.
0x is an open protocol that works as part of the Ethereum blockchain. It has been designed to offer a decentralized exchange of Ethereum tokens.
According to information, the team behind this asset has a strong belief that the emergence of many tokens from the Ethereum technology would need a decentralized way of exchanging them, and 0x would be there to provide that.
0x has an available supply of 597 million with a current price of $0.340. It is an asset with a lot of potentials to break into the market top 20 in the future.
Verge is not a private company funded by a pre-mined ICO. It is a familiar asset in the digital asset industry. Verge can be remembered for the famous John McAfee tweet that predicted a $15 price trade for the digital asset by mid-2018. It has an available supply of 15.7 billion.
After trading an all-time high of $0.3, the price has continued to struggle to bounce back from the 2018 market pullback. It has a mission of bringing blockchain to the day to day activities and transactions of people. With a current price of $0.009, Verge is regarded as a good value considering its unlimited potential.