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What, Why, Where, When and How to DCA
You may be wondering what DCA means. It stands for Dollar Cost Averaging – you could change the word ‘Dollar’ for your currency – and put simply just means that if you buy small amounts regularly, the Bitcoin exchange rate becomes less relevant.
Here’s the thing. Human nature – fear and greed – lead us to buy high because we have a Fear of Missing Out (FOMO), and sell low because we think we’re about to lose everything.
Obviously Buy High, Sell Low is a bad strategy for any investment.
DCAing will remove – or at least reduce – your predisposition for acting on your emotions rather than acting logically.
I’d highly recommend visiting DCABTC.com to see for yourself just how effective the strategy of DCAing into Bitcoin is. For fun, think of when you first heard of Bitcoin, and use DCABTC.com to see how much your Bitcoin would be worth if you’d invested $10 a week from then til now.
I warn you however, you’ll be shocked at what you’ve missed out on!
Ask any Bitcoiner you know, and I’m guessing they will all tell you they wish they’d ‘got in’ earlier. The good news is, you’re still very early if you’re reading this.
Why you should Get Off Zero?
Imagine for example that you have a total wealth in the world of $10,000. It could be $10 or $1m, but we’ll use $10k.
Although I strongly believe in Bitcoin, no-one – including me – can tell you that it is going to succeed. It is still a binary Yes or No. If No, at worst it goes to 0, if Yes, it will go to $1m a coin (actually I think a lot more, but let’s not get ahead of ourselves).
So, let’s take $500 – 5% of your $10k – and invest in Bitcoin at a price of $50k per Bitcoin. If it goes to 0, you lose $500. If it goes to $1m, you’ve got $10k. Are you willing to ‘risk’ 5% of your wealth to protect your current wealth if your fiat currency goes to zero?
In this example, I would argue that it is financially irresponsible for anyone to not have at least 5% of their total wealth in Bitcoin. I also believe that it is irresponsible for anyone to invest too much in Bitcoin until they fully understand how to buy and store their Bitcoin securely.
See for yourself at DCABTC.com and then Get Off Zero.