alright so i have zero experience in investing but i've been reading and watching videos about dollar cost averaging, is it a good idea to begin right now? and buying bitcoin once monthly? let's say an amount of 40€-60€?
im asking in order to optimize my approaches and position myself correctly to be prepared for gain/loss.
i'd really appreciate advice and help.
Posted by AirDear9764
3 Comments
Yes, or small quantity weekly if you prefer, up to you.
No loss as long as you never sell 🙂
Study more and set goals in btc, good luck out there.
Welcome to the real world
DCA works mainly because it removes the need to be right all the time.
Most people don’t fail because the strategy is bad, they fail because they stop when it gets uncomfortable.
If you can stick to €40–€60 consistently without second guessing it every month, you’re already ahead of most.
DCA is a good approach, especially for long term investors. The first key step is understanding what you own and why. I’ve found that makes all the difference when holding Bitcoin.