My Strategy Of Dollar Cost Halving
Hey Jesstackers
My journey into crypto-like many fo users was a pretty wild rollercoaster ride; I made money, I lost money, I made money again, and I am sure I will lose money again.
That is just the nature of the game when you're about spending time in the market instead of timing the market. These gains are not real until you cash them out and while you can double your money in a week if you never realise the return, it's not something you should kick yourself about.
I see so many crypto holders sulking that they never got out at a certain price and to me, it seems silly, the reason I didn't get out at a certain price, is because I didn't feel it was enough money to have e part with my Bitcoin.
Stacking sats with the help of both worlds
I've either spent money I earned working to turn it from fiat into Bitcoin, or I've earned crypto through my time and labour, and both tend to crystalise the idea that working for these tokens means I shouldn't give them up as easy as others would.
I am not saying I am nobler than those that dump at the first price dump or sell their tokens at any price as they "think" they need it and would rather miss out on future gains in exchange for something they can have now. No, to each their own, do with your money as you please, but for me, I cannot see how all this effort I've put into building a position, will allow me to part with my crypto on the cheap.
The more people who feel this way, the stronger the hands and the distribution of strong HODL'rs who keep the liquid supply fo Bitcoin to a minimum.
Dollar-cost averaging
I've spoken before about how I dollar-cost average into Bitcoin each month however since then I've become even more aggressive and started to daily cost average along with my monthly purchase, this gives me exposure to various price ranges and buying in.
I do it automatically and think very little of it with the help of the Luno app, but there are other apps to help you dollar cost average so do you really have an excuse these days?
Dollar-cost halving
I've taken people through how I put my crypto to work this could be CE-FI, DE-FI, Blogging, doing microtasks, asking to be paid for tasks in crypto as well as staking coins.
I try to either earn additional satoshis with my efforts or get into dapps that allow me to earn on my capital, such as liquidity pools or backing loans, or staking my capital in an altcoin.
Every time I earn an additional satoshi, it helps cut the price I paid in fiat in half for satoshis I purchased. This decreases my risk and is an additional hedge against volatility.
When you start to get into the mode of dollar-cost halving, it allows you to sleep better at night, holding larger positions in Bitcoin or altcoins.
Originally posted on The Bitcoin Manual
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
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Posted Using LeoFinance Beta
You got a point there, letting loose cheaply what you worked your butt of to acquire is just not advisable or even reasonable.
All I do is blogging, I barely have an energy to go into microtasks, but nevertheless I'd love to know which microtasks exactly can I indulge in and earn some pennies for myself ? :)
Posted Using LeoFinance Beta
If you're using something live BRAVE you can earn from the ads they serve you, I would also recommend setting up a lighting wallet and checking out lapps.co there are plenty of lightning network based dapps where you can earn sats i personally use mircolancer and made like 30k sats so far from it
Posted Using LeoFinance Beta
I use brave browser but I stopped earning after my first payout, i will check on your other recommendations.
Posted Using LeoFinance Beta
Yes the more you look at things, the longer your time horizon, the better you are at making decisions, it starts to become clear the various patterns repeating itself
Posted Using LeoFinance Beta
Life is just low down and high up.
Whatever, we have to move forward, isn't right?
I earn Crypto whenever I can. And I save Crypto what I earn and will Stake them in a place I believe. That can be HIVE Blockchain.
Thank for your Sharing.
Posted Using LeoFinance Beta
Well don't keep all your eggs in 1 basket, I always encourage people who earn crypto to store some in other assets too, you never know if one chain goes down and you need the money so its good to cash some out into Bitcoin or ETH if you like and keep it there for example
Posted Using LeoFinance Beta
Yes, I understand that Keeping many eggs together in one basket may be broken and lost.
But, I have no many valuable amounts of assets.
I will do by pursuance with your advice when I have to invest many capitals.
Thank you.
Posted Using LeoFinance Beta
More info why you see this here.
Posted Using LeoFinance Beta
The mighty TORUK has landed lol thanks for the visit
Bro losing money and gaining man is a part of a job that's happen often in crypto trading
I think losing and gaining money is part of life, we all making bets with the things we buy and the things we use our money on
I can totally relate myself to that... Haha!
Posted Using LeoFinance Beta
LOL and so the struggle continues, but its a fun one none the less, always interesting massaging the numbers
i simply hold everything till i see a huge pump in prices like in sbd for example. If that happens in leo or hive i may cash out something. The main goal though is to have it as a back up plan
Posted Using LeoFinance Beta
Same here, I am like at this point where I've held on so long you really need to make a tasty offer for me to open my hands and let go
hahaha exactly
Posted Using LeoFinance Beta
Earning is a great method and those who do not have capital can invest in it.
Doing the research is very important, Working for shit priced token is more beneficial then working for shit tokens. Picking the tokens carefully is a great start.
Posted Using LeoFinance Beta
Exactly, you need to find out if it's going to be worth your time in the time period you want to spend earning it, like with LEO I was picking it up at 0.02 cents not caring and now that its 10x that it worked out for the better, but there are plenty of tokens and airdrops I picked u that are a complete waste, you need to play the numbers game
Nice, picking LEO at 2 cents. Finding the strong fundamentals and picking the coin is good bet.
Did you picked AVA or RUNE too?
Posted Using LeoFinance Beta
NO I don't know about AVA, Rune I missed out on too many buying opportunities at the low prices so I thought I'd wait, I have loads of other alts I still own that I need to sell
Thanks for your link to your dollar cost averaging article. It's another reminder I need to get on with it. I've started a couple of times and then fizzled out.
I started looking into automatic possibilities last week but it was looking more expensive than seemed worth it. However, I didn't finish the research. I'll have a look at the other link you posted and check out Luno.
It's a slow old process but hopefully I'll get there in the end. 😊
Posted Using LeoFinance Beta
It starts to become very addictive, I used to only buy if the prices drop like 20% at a time, then I started with once a month, then I moved to once a day lol I am obsessed with stacking sats every day lol
Hope you get on the auto stacking train too :)
What does daily purchases do to your fees?
I find it very expensive to turn my fiat to crypto.
Posted Using LeoFinance Beta
It's charged on a % basis so it's no different if I were to make one big purchase per month of 30 small ones each day, the only difference is at the end of the month I tend to have more sats than if I only bought in at one price point, then the service I use also has an interest account so that covers any losses in fees