How to manage your Crypto Portfolio with PlatinX Exchange

PlatinX Exchange is a revolutionary P2P crypto exchange that facilitates instant transactions through secure, decentralized way. You can be a part of ever-growing crypto community with the help of PlatinX Exchange. You must have heard the phrase, "jump in to enjoy the swimming." You can never experience swimming without going in water first. Similarly, to enjoy crypto, reap benefits you have to put money into crypto first and that is possible through PlatinX Exchange.

Maybe you have a hang of it or you are natural at crypto trading. Or you can gain access to trading tutorials available through PlatinX Exchange or on Internet. This blog on How to manage your Crypto Portfolio with PlatinX Exchange will help you start the journey.

What is a Crypto Portfolio?

Like every investment portfolio, crypto portfolio is the same thing. In this you have coins, tokens, NFTs etc. How much is it worth depends on the current market prices. This also gives you the idea on crypto performance as well as need to diversify or not.

Crypto Diversification

The world has moved on from the time when only Bitcoin was available. There are many types of crypto tokens and coins available now. You can invest in stable coins, security tokens, governance tokens and much more. There are many with huge potential too. Therefore, investing only in Bitcoin is not the best strategy. Recently with market crash Bitcoin price slumped and it went down below $20000. However, some other tokens show more stability and their price slump is not that huge.

Investors all over the world employ diversification strategy even in traditional markets. Therefore, it is important to manage your crypto portfolio through diversification.

Strategies to effectively manage your crypto portfolio

• Dollar Cost Averaging – Do not buy at once instead divide it over a period of time. If you are interested in a crypto token, don’t buy for all savings at once. Divide buying over monthly or quarterly time spread. This will have price averaging affect on your crypto and would help get over the volatility too. It is a highly proven strategy especially in bearish markets.
• Emotional Trading – Remove emotions while trading. We often make mistakes and sell hastily when markets show little bearish movement. Extreme fear or greed often leads to uncertain situation and sometimes huge losses too. And don’t ever invest on FOMO that is fear of losing out. This is a hasty investment decision which is often wrong.
• Risk Management - Decide whether you have balanced out the risks. Use stop loss for all crypto investments. Invest in variety of tokens and other derivatives too to balance out any potential risks. Think about exit strategy for situations detrimental to your crypto portfolio. Successful investors always have an exit plan even before entering the market.

How to manage your crypto portfolio with PlatinX Exchange

PlatinX Exchange provides revolutionary trading platform where investors can directly buy or sell crypto to other users. They provide transactions through escrow account to facilitate transparent, secure trading. You can use Indian currency to directly trade in crypto.

Crypto portfolio management is not complicated. However, you need to about crypto market, tokens, past performance and other matrices to keep a healthy portfolio. Research on crypto assets you want to invest in and get started with PlatinX Exchange.