Have you ever thought of buying cryptocurrency through Dollar Cost Averaging?
Maybe it is the best way to buy cryptocurrency.
If you dont know what Dollar Cost Averaging is, read this blog.
Dollar Cost Averaging (DCA) is a method to buy cryptocurrency daily, weekly, biweekly or monthly. Doing this helps people make more money and it is far better than trying to time the market.
With the recent recession it has been very hard for people to time the market on best times to buy so they have been DCA more as it buys cryptocurrency whenever they tell it to and can still generate a profit without timing the market. sometimes DCA might buy when a coin has dropped in price and the next day it could be up and it will buy it again then the coin could continue to go up making a profit.
Here shows what putting 5 dollars a day for 2 years using DCA would turn into. as you can see it has went up 31.63% making a profit showing that DCA daily is very efficient.
On this one you can see putting 140 dollars a month for 2 year also creates a profit. However you have invested less on the monthly and had a larger percentage change than daily. This shows that DCA monthly would turn out to be alot more efficient than daily if you put the same amount of money in each one.
Tell me what you think about this blog in the comments below.
Ryan,
