Great Way To Tiptoe Into Crypto!
As most of you are aware, the crypto market has been on fire the last few months as we moved into 2021. I am getting hit up by multiple people per day asking for advice on how to get in, is it too late, when is a good time to enter the market, etc. As a long-term believer in Bitcoin I personally recommend dollar cost averaging your buys into the asset and I primarily recommend only this specific asset as it is the most proven and one of the most decentralized.
Dollar cost averaging just means that you incrementally buy an asset at the same dollar cost over time. What this does is keep your buys averaging out over time to be positive as long as you have an asset class that is moving up over the long term. Through the last 10 years, Bitcoin has been the best performing asset against the US dollar over all other traditional investments. I see Bitcoin hitting $50K this year easy, and with its fundamentals, nothing stopping it from surpassing $100K. And lets be honest, most of us aren’t cut out to deal with the daily ups and downs of trading, I know I’m not plus I’m too busy in the garden!
That being said, I’ve found a great way to dollar cost average with very little risk. It’s a service called RoundlyX. Basically it functions a lot like Bank Of America’s ‘Keep The Change’ program where change from transactions is rounded up to the next dollar and then put into a holding account. Once you hit a certain threshold a buy is put in. This allows you to basically micro dollar cost average on every transaction you make with your debit card. It’s a pretty cool idea and something I have now been testing for months to great satisfaction. You just connect your bank account to an exchange like Coinbase and the app does all the work. Pretty cool idea and something I wanted to share with our co-op.
If you want to try it out, you can use our referral code mich-4CA3E0 when setting up to receive a $4 bonus. Try it out and let me know how it goes!
Kind Regards,
Mike Winner – AV Co-Founder & Technical Director
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