The biggest trap in the world of cryptocurrencies is to excessively diversify your positions. - You know what I mean, right? I have encountered various people who want to show me their portfolio to "confirm" if their purchases were "correct." What I can definitely see is that they have spread ... See More their money across many different currencies. Sometimes, I have even seen more than 30 different currencies, with 10 or 20 dollars in each.

Do you know where the trap lies in this strategy? If one of these currencies gains double or triple its value, someone might say, "Well, it's just 30 dollars!" But if those dollars had turned into 100 and then into 300 dollars, I doubt they would say the same thing, right?

What I'm trying to say is that regardless of the number of currencies you have, the profits are not apparent and ultimately disappear. Moreover, with so many projects, you can't stay updated on everything. So, what exactly do you do? Do you throw your money around and see what sticks?

Hold a few, but well-selected projects so that you can stay informed about the developments and, in the end, have visible profits that show you when to take profit! ✌🏼

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Sometimes you gotta remind yourself that crypto won't be the solution to every problem in the world. - I have seen this in comments regarding a lot of "problems" that are highlighted by news posts or opinion pieces here in this sub. Like the issues with certain economies or the ... See More US inflation or anything else that might be going wrong in the world which is even slightly related to crypto.

And the comments usually seem to parrot the same thing.

"Crypto can fix this!"

We're all big on crypto and its possibilities, that's why we're here, but let's try to remember the limitations it has and not just praise it endlessly like a cult and offer it as a solution to literally everything, from inflation to world hunger to curing cancer.

As a small example with the US inflation thing, how exactly would crypto be able to "solve" that, other than give a certain number of people a way out of dealing with it while others inevitably suffer the effects nonetheless? Remember, crypto is a zero sum game in some regards.

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