many new crypto traders focus on buying a single coin however their crypto performance is relegated to the sentiment development and community behind that project building a balanced crypto portfolio can help guard against excessive losses as some projects will perform better than others in today's video we're going to take you up to the cryptos you need to own to be a millionaire so watch this video all the way through so you don't miss anything hi cryptopreneurs if you like making crazy money with crypto this is the place for you here we explore new gems and explain the best new tiny undervalued cryptos with 100x 1000x potential you will also find all the news of the crypto space every day so make sure to subscribe and activate notifications for all the upcoming videos also follow us on our social channels and join as a members for added perks now without further ado let's get straight to the point [Music] the advantage of a balanced portfolio is diversity holding on to a single coin exposes you to the ups and downs of news that affect only that coin ripple is another example of this dynamic u.s government agencies have focused on whether ripple initially violated their regulations ripple sold out to the news cryptocurrencies are largely unregulated and the laws surrounding them are still being created therefore investing in a single coin ties the returns on your crypto investment to the performance of that single coin a side benefit of a balanced crypto portfolio is that when you spread out your investments you have a better chance of picking a coin that outperforms indeed the reason there are nearly 20 000 cryptocurrencies is that each one tries to improve an actual problem with cryptocurrency bitcoin is the largest and oldest cryptocurrency and has stood the test of time however we don't know if there will ever be another coin worth more than bitcoin if that new coin improves some fundamental quality when looking for crypto currencies look for projects that can solve real problems for example chain link's solution to the oracle problem could be a potential alternative that will one day take off having a diversified portfolio allows you to rebalance your portfolio so that it does not become overweight in certain areas for example let's say you have invested in three rooms room a room b and room c you decide to allocate 50 to room a 25 to room b and 25 to room c you further decide to allow the percentages to deviate by 10 coin a skyrockets and as a result now represent 60 of your crypto portfolio therefore you decide to sell some of coin a and buy coins b and c to rebalance the 50 25 25 split in this way you use the gains from your over performing crypto to fund the rest of your portfolio having a balanced crypto portfolio means you are halfway to creating a sustainable portfolio investing in digital assets is relatively new with a lot of intimidating terminologies take the time to learn and analyze them thoroughly before diving in head first if you're ready to build you need to pay attention to some fundamental pillars to help you achieve that balance and manage your crypto portfolio many investors may not have a large lump sum that they can transfer from traditional investments to a crypto portfolio therefore making small regular investments from your cash flow regardless of crypto prices is a great way to build your portfolio therefore dollar cost averaging is one of the best trading strategies to build your portfolio that works in both bull and bear markets dollar cost averaging dca is an automatic system for making investments of a fixed dollar amount regardless of the price of a token by entering the investment in regular increments you alleviate the anxiety resulting from imperfect timing as you build your portfolio you may need to manage several different portfolios exchanges and platforms allowing you to take advantage of promotions as a result it can be tedious to manage your cryptocurrency portfolio across these wallets and try to remember which cryptocurrency is where crypto wallet trackers are one way to solve this problem a crypto wallet tracker is a software that reads your wallet data and displays the aggregated information in a dashboard for you wallet trackers make it easy for you to keep track of how much you have invested in each cryptocurrency if one cryptocurrency outperforms another you'll see it earn a larger percentage of your overall portfolio a good portfolio management strategy includes diversifying your investments you've heard the saying that you shouldn't put all your eggs in one basket in case the basket falls you don't want to lose all your eggs if you want to know which cryptos have a solid foundation we are about to tell you four altcoins to invest in the long term to build a small fortune of a million dollars before we show you that if you are enjoying the video let us know by leaving us a like and sharing this video if you haven't yet now let's continue in our opinion the first altcoin to turn to if you want to build a one million dollar portfolio is polygon matic polygon is the first well-structured easy-to-use platform for ethereum scaling and infrastructure development its core component is polygon sdk a modular flexible framework that supports building multiple types of apps using polygon one can create optimistic roll-up chains zk roll-up chains stand-alone chains or any other kind of info required by the developer polygon is the ethereum internet of blockchains and is a layer 2 solution while there are many other layer 2 solutions and other blockchains competing with ethereum it owns one of the better layer 2 solutions then at number 2 we have avalanche avalanche is the fastest smart contracts platform in the blockchain industry as measured by time to finality avalanche is blazingly fast low cost and eco-friendly any smart contract enabled application can outperform its competition by deploying on avalanche avax is the native token of avalanche it is a hard capped scarce asset that is used to pay for fees secure the platform through staking and provide a basic unit of account between the multiple subnets created on avalanche then your third altcoin to hold is solana solana is a highly functional open source project that banks on blockchain technology's permissionless nature to provide decentralized finance to phi solutions while the idea and initial work on the project began in 2017 solana was officially launched in march 2020 by the solana foundation with headquarters in geneva switzerland the solana protocol is designed to facilitate decentralized app dap creation it aims to improve scalability by introducing a proof of history consensus combined with the underlying proof-of-stake consensus of the blockchain finally we have cardano cardano is a proof-of-stake blockchain platform that says its goal is to allow change makers innovators and visionaries to bring about positive global change the open source project also aims to redistribute power from unaccountable structures to the margins to individuals helping to create a society that is more secure transparent and fair building your one million dollar crypto wallet doesn't have to be complicated however it does require a plan and perhaps some help like a portfolio tracker even if you don't have the excess cash to invest now you can use dollar cost averaging to build a balanced portfolio as with any investment you'll want to research the fundamentals of an asset before you buy it the value of your portfolio is often a result of how well you manage your crypto assets with this here comes the end of the video we hope you guys found this video tremendously valuable and especially entertaining be sure to check out our crypto brand called cryptopreneur the original crypto merch brand we have an amazing collection of crypto designs on t-shirts hoodies stickers and more check them out at www.cryptopreneur.com code yt10 for 10 off at checkout link 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