Lovers of every cryptocurrency do praise their beloved digital currencies and want everyone to see things from their angles regarding what they can invest in. This time around prominent Ripple employee, Josh Lin, has advised that crypto enthusiasts to stop investing in lone digital currency but share their fund on 5 cryptocurrencies they are bullish about.
Josh, a Talent Sourcer at Ripple Inc., posited on Quora that investors in cryptocurrency should do research on at least 5 cryptocurrencies and not buy XPR alone.
He suggested that investors “put in an equal amount of capital” in all of the 5 cryptos they are bullish about and sit tight after that.
He said: “So if you had $10k to invest, I’d put in $2k into 5 cryptos that you’re bullish on. This way, you create a basket (and diversification!) to apply your bullish view on the entire sector as opposed to just one crypto.”
Josh said investors need to be right one out of the 5 cryptos they choose. With one of them having 20% success rate.
Following this guideline, the Talent Sourcer is betting that the upside of crypto will be in multiples, and not just a few percentage points. Meanwhile, it is not that Josh does not believe XRP is going to have a weighty return in the next 5-10 years, but the Ripple official is trying to advice investors not to put their entire eggs in one basket as crypto is known for extreme volatility.
“I do believe XRP will “explode,” but it will take time. Think about a timeframe of 5–10+ years.”
Ripple’s XRP is gaining wide acceptability across nations. The integration of MoneyGram into the XRP ecosystem increased trust in the digital currency especially when the firm declared they will be working on xRapid, a remittance innovation making use of XRP token.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.