All About Crypto Portfolio Management

The past decade has seen an exponential rise in the number as well as the investment in cryptocurrencies. It has caused significant changes in the financial market. The crypto market is highly-rewarding and presents an unprecedented opportunity to make short-term and long-term gains. However, the market is also subject to extreme volatility and frequent fluctuation.

Most retail investors invest in a popular cryptocurrency with hopes of making massive gains. However, it is not advisable to put all your eggs in a single basket. All cryptocurrencies experience a period of high rises and lows. This can cause significant financial losses for the retail investor.

Hence, it is crucial to have a risk-adjusted portfolio of cryptocurrencies.

Crypto portfolio management allows you to generate high incomes while managing your investment risk. Let us understand crypto portfolio management and its many benefits.

Crypto portfolio management

For many people, investing in cryptocurrency means buying a few Bitcoins. However, Bitcoins are just a part of the huge crypto market that consists of more than 6500 currencies.

Your crypto portfolio refers to the unique selection of cryptocurrencies you chose to buy. Investor tries to maximize their returns while reducing their risks. The value of your crypto portfolio depends on the market price of these cryptocurrencies.

However, it is essential to understand that different investors have different risk appetites. Hence, what works for someone else may not work for you.

Crypto portfolio management refers to risk management by creating a unique mix of cryptocurrencies.

Benefits of Crypto portfolio management

Some of the benefits of crypto portfolio management are as follows:

1. Diversification

The benefit of a well-balanced portfolio is the diversity it offers. The Crypto market is volatile and highly unregulated. It is very often seen that the price of a cryptocurrency skyrockets and then takes a nosedive.

If you invest in a single cryptocurrency, the changes in the market value of the currency will directly impact your investment. As a retail investor, you may not be able to accommodate such fluctuations, and it can destroy your wealth.

Hence, it is advisable to diversify into a few different cryptocurrencies. This will enable the downfall in the value of one currency to be balanced by the rise in others.

2. More chances of selecting an outperforming asset

When you invest in different cryptocurrencies, you increase your chances of picking an outperforming asset. Years ago, when bitcoin was launched, nobody could anticipate its capability and future market value.

Similarly, there are a few cryptocurrencies that may achieve exponential growth in future years. Crypto portfolio management increases your chances of picking such currency.

3. Rebalance your portfolio

Crypto portfolio management allows you to rebalance your portfolio to help you maintain an adequate ratio of the asset. The gains in an outperforming cryptocurrency are used to invest in other assets to rebalance your crypto portfolio.

What Niche Market Should You Target?

I recently posted a question on Facebook… It went like this: “It’s a lot easier to turn a ship that’s moving in the wrong direction than it is to turn a ship that’s not moving at all” What do you think, is that true or false?

Well, just as many commented and agreed with me – in niche market terms, it’s true!

If you’ve been getting “analysis paralysis”, scratching your head and trying to figure out what niche market you should focus on, do some research, select a niche market and start heading toward it. If you’re off course, I promise you, the market will correct you.

Consider this when Selecting your Niche Market

If you’re not heading in the right direction, the market will quickly give you the necessary feedback that will help you adjust your niche. Don’t get overly concerned that what you decide today is a fixed decision. Be prepared to change your niche as the market demands.

Be prepared, you may at first select the wrong area or niche market to focus on. Many successful small business marketing experts have made that same mistake.

It’s very interesting how areas of expertise can change. But you can only change your direction if you have already set out in one to begin with.

Learn from Marketing Experts – Bob Burg, Dan Kennedy

Bob Burg is the author of a book called “Endless Referrals.” He is now positioned as a referral expert and an expert on helping people to generate referrals for business.

When he first started out, his niche market was memory experts. He noticed that people who took his memory courses wanted to improve their memory to remember the names of people they’d met at networking meetings and events. They wanted to improve their memory to achieve better business results.

As he spotted that connection, he started to focus more on being the referral expert. No one accused him of being a fraud because he was now a referral expert instead of a memory expert. The market let him know in which direction to steer his business.

When you set course in your chosen direction, look for niches and markets where it’s going to be easier for you to establish personal relationships and position yourself as an expert.

If the niche market you do choose turns out to be an enormous amount of effort, you have to weigh whether or not it’s worth your while to continue down that road or take a different road to get business.

When Dan Kennedy, the marketing expert, was invited to submit a proposal to give a speech in Switzerland, he opted out. While plenty of other people would jump at the opportunity, and spend a day putting together a proposal to bid, that is not the way he wants to go after business. Perhaps it didn’t seem worthwhile to spend the time writing the proposal. The point is that you have to make the determination of how you want to do business.

Your niche market will evolve with your business. It’s an actual evolution that happens in most any business. In my own business I have seen this happen too. I started out as specializing, by trial and error, as an effective cold calling expert. But I didn’t stop at teaching cold calling techniques. Today, I’m teaching people how to find new business.

One niche market I specialize in is helping small businesses market to big business. I help small business owners land big contracts. When you’re marketing to corporate clients it’s very important to target a specific niche. That way your corporate client will see you as an expert!

My encouragement to you today (especially if your goal is to attract corporate clients) — is to select your niche market. Make a decision now and go for it. If you need to change down the track then let the market guide you.

When you let the market guide you, then you’re guaranteed success.

How to Attract the Right Attention Using Emotional Direct-Response Marketing

There are loads of ways to attract attention to your business using emotional direct-response marketing.

Some people create ads with beautiful photos… some men will stand on the side of the road wearing a costume or pay someone else to wear a costume – maybe they are dressed up like a bear in 90-degree heat here in Florida, or maybe it’s a scantily clad woman standing outside in the freezing cold, up north.

Some will get on television and be outlandish or crazy, and others will appeal to your sympathy – “Buy this because it’s the right thing to do… you’ll feel better and so will your conscience.”

The problem with most of these strategies is that there’s a HUGE difference between attracting attention and attracting the RIGHT attention.

See, if you want to attract attention, you have to roust people out of their normal routines.  You have to pull them up and out of the dull and mundane habits of their lives.  You have to be able to interrupt the silent hum of their ordinary routines, yet not be so overt that you’re saying, “BUY SOMETHING!”

And while each of these techniques I first mentioned might do this to some degree, they miss out on the most critical aspect of attracting favorable attention, effectively.

They don’t direct their appeal to your prospect’s interests – they direct it to yours.

This is the problem with the lion’s share of most marketing messages.  They scream and shout and yes, even some whisper.  But the message doesn’t resonate because it’s lacking the guttural emotional self-interest people need to feel, in order to get them to take action.

Most marketing is so focused on the creation of the message instead of the answer to the question, “Why are we creating this message?”  When you focus on this instead- kind of like starting at the destination and then working your way backwards – the answers to this question allow you to start attracting the RIGHT attention using the RIGHT emotional direct-marketing.  And that… is why you’re here.

Now go sell something.