First rule (which we all ignore) is: spread your risk.
funny, I'd take the opposite position in this case. Spread your risk across your entire portfolio, but not necessarily diversify in the crypto currency world. Of your life net worth, I assume a couple hundred dollars are not going to break you. If you can afford to lose those couple hundred in an extremely high risk investment (anything in the crypto world qualifies as that), I'd argue to do lots of research - find a new idea you believe in, and invest in it.
Mining and mining based stocks have returned worse than simply buying and holding currency so far. There are no "new ideas" in mining, that I know of, everyone appears to be selling hardware r producing it and mining for themselves. Right now there are lots of new crypto-assets being developed. Do lots of research, don't be fooled by nice words - look for hard data. Stay away from, "trust me" companies, even if lots of forum people are chiming in. You need to see balance sheets, income statements, and business plans (if you're buying stock). If you're investing in a new coin, understand what gives that coin a competitive edge, what is the backing funding, how is development organized, what are the threats to success. Find something you believe in, support it, and follow it closely. Diversifying too much, sprinkling around money to lots of things you don't have a strong understanding of, will probably lead you to losing money.