DCA is simply an acronym for Dollar-Cost Averaging. What is it all about, How does it work, and Why Should you use it?
Please, pay close attention here to make the best of cryptocurrencies as an investor.
DCA is first an investment strategy. It is a strategy that allows an investor to invest a certain amount of money in incremental instalments over a given period of time that he or she has chosen.
With the spread in the use of cryptocurrencies, many who do not have a lot of money often bemoan their low estate, and some even conclude they may never take advantage of early entry into any crypto advantage or opportunity.
In order to mitigate against you missing out, you may want to adopt the DCA strategy.
How DCA Works
How DCA works is simple…
You decide or choose the crypto you want to buy when it is low, say ZENIQ Coin or Bitcoin, or any new coin that you have verified it’s authenticity.
But then you do not have the amount of money to buy it big. You will then give yourself a date target to have purchased the quantity of the coins you want to buy. Say, you want to buy 10 BTC over the next year. Or you want to own 20,000 ZENIQ Coins over the next 12 months.
Having decided this, you will then plan on how much of the coin or crypto you will be buying or acquiring either daily, weekly, monthly, or even quarterly. Though weekly or monthly purchases will be a better way to go, if you want my opinion.
Let us take the case of you wanting ZENIQ Coins because of its huge future use cases in real estate, coin supply and demand on exchanges, and the infusion of fiat currency swap via the ZENIQ debit cards, and more to come. A full Minting Hub (physical hub) sells for €1998, while a full Minting Share managed by Safir is selling for €1499.
Now not everyone can afford to buy immediately at these prices to start minting ZENIQ coins. So, you may apply the DCA strategy as follows:
Start buying BTC SegWit in small amounts. You may probably have €100 and quickly send to your bitcoin wallet to store. I prefer buying at dips. Alternatively you may start by using the €100 to buy a 1/32 minting share to start minting ZENIQ coins at a very slow and low level.
Then continue putting aside more money into your Bitcoin wallet. I prefer using either the wallet by Blockchain.com, Coinbase, or Binance.
(If you follow the Coinbase and Binance links, when you send $100 and above into your wallet you will receive extra $10 in your crypto wallet.).
So, when your DCA reaches €1499, you can then use it to buy a ZENIQ hub and start minting coins you can sell within 24 to 92 hours of minting. A Full minting hub has the capacity of minting 60 to 70 coins per day before the first halving that will take place February 2022.
So, if you start minting today and selling your coin monthly, you would have got back your investment in the hub within 3 months, and the rest will be pure profit for you. You can Signup to buy a Hub Here!
You can also apply this strategy to any future ventures you want to go into if you do not have the exact funds required to do it at once.
Trust you have learnt a thing or two in this writing.
If you have any questions, comments, or suggestions, kindly use the comment section below to post it and it will be attended to asap.
Thanks for reading.
To Your Success and Prosperity!
IAM Ifeanyi Uche
1 thought on “Why Use DCA In Cyptos?”
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