In Europe, 66% of respondents have heard about cryptocurrency, 9% of respondents owned some crypto, and 25% of respondents planned to own some crypto on the future.
Interestingly, the main concern people have about investing in cryptocurrency is not why, how, or where to buy cryptocurrencies.
The main concern that potential cryptocurrency investors have is WHEN to buy cryptocurrencies.
This piece introduces you to a traditional Wall Street strategy that can help you even out the risk of volatility in your cryptocurrency investment.
Dollar Cost Averaging is the intentionally strategic decision to purchase the same dollar amount of a cryptocurrency at predefined intervals irrespective of whether the price of that cryptocurrency is trading up or down at such intervals.
Skrill is one of the few platforms built specifically to make it easier for investors to leverage dollar cost averaging in their cryptocurrency purchases.
By utilizing its existing rails, Skrill enables users to buy and sell cryptocurrencies through its platform with dollar-cost averaging.
Coinbase is another platform through which cryptocurrency users can utilize dollar-cost averaging on their crypto purchases.
Coinbase is a well-known player in the cryptocurrency market having been ranked as the highest-funded Bitcoin Startup and largest crypto exchange in the world as far back as 2013.Coinbase's Recurring buys is designed to enable users to purchase cryptocurrency slowly over time with scheduled purchases daily, weekly, or monthly.
When you account for the general day-to-day volatility of the market; you'll most likely be better off with DCA than making a single lump sum investment in cryptocurrencies.
Dollar cost averaging: an investment strategy for the HODLer
Published on Sep 4, 2019
by Cryptoslate | Published on Coinage
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