Using a Dollar-Cost Averaging (DCA) Strategy to Build Wealth with Crypto
Dollar-cost averaging (DCA) means making smaller, equal investments on an ongoing basis, instead of making large or irregular crypto buys. Although cryptocurrency can be considerably more volatile than stocks, dollar-cost averaging with crypto can help you reap many of the same rewards traditional equities traders enjoy through the strategy. By regularly buying your favorite coins, you’ll be automatically investing more over time no matter what’s going on in the crypto market. This enables you to grow your holdings, and can lower your overall cost-basis during dips.
Are you ready to try dollar-cost averaging with crypto? While the overall idea of regular buys remains true, there are a few other things to consider before jumping in. Here's how to DCA crypto like a pro:
1.Choose $PIXEL as your asset
2. Decide how often you'll make your buys
3.Set a rough amount of money you'll be investing
4.Choose #BINANCE as your exchange
Select a secure, convenient place where you'll store and manage your investment.
All investing involves risk, but given the crypto market’s potential for extreme volatility, you should only invest money you can afford to lose. Dig into your monthly budget to determine how much in discretionary income you have to commit to investing and avoid exceeding that figure.
