I went ahead and pulls the trigger and took a small position with Nexus cryptocurrency earlier today. Like many others, interested in cryptocurrency, I started off with a little bit of Bitcoin, Ethereum and Litecoin. Adding a bit here and there if various alt coins that seem to have some potential. I am not trying to promote one coin over another...I really don't have an infallible crystal ball that will let me know which coins might be huge, say, 1-10 years from now. So my approach is to listen to what some others say, filter it through my own mind, let it marinate some--then gradually have a "basket" of a few different alt coins that sound promising. Since I am not rich, I have to take a patient approach and gradually accumulate a humble position in a few alt coins. I am also not against doing some short term swing trades if I see an opportunity here and there to ride a quick upward spike in momentum...even if it turns out to be a pump an dump, some money can be made at times with those if a person just takes the meat of the move and cuts his or her position size before the coin goes back down. But since hardly anyone can time the market exactly as scenarios unfold, I will plan on spreading my risk with some diversification and pretty much be a buy and hold with several alt coins. But not limit myself to any one strategy...got to be flexible and adaptable as scenarios unfold and new information comes along.
