What is dollar cost averaging
Dollar-cost averaging (DCA) is a technique used by many investors, where the investor purchases a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price. The investor purchases more shares when prices are low and fewer shares when prices are high.
Why I use it trading crypto
Lowering the dollar cost average on existing projects in my portfolio is an approach I like to take while in a bear market. In this video we will look at what the dollar cost average is, and how can you use it to strengthen your portfolio. You may find yourself giving into FOMO (fear of missing out) and paying more for a certain crypto than you should. Those projects in particular are great for lowering the dollar cost average by purchasing much deeper when there is a market correction.
Even if you are a long term investor, it is always good to use dollar cost averaging to leave yourself more options should things go awry, aside from the obvious financial benefits if the project does exceptionally well.
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Disclaimer:
I am not a financial advisor and you should not take this video as financial advice. Thoughts and opinions are my own and should give you a unique perspective and hopefully some helpful information. Always do your own research before investing your money.
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