1/ Most people should be investing long term and not trading. Just DCA and #HODL.
But how?
It's actually easy to DCA in #Crypto, here is a guide.
-- PICK YOUR CRYPTOS --
Pick five, I would day $BTC, $ETH, $LUNA, $SOL and $MATIC or a dinasour like $LTC or $ADA
But how?
It's actually easy to DCA in #Crypto, here is a guide.
-- PICK YOUR CRYPTOS --
Pick five, I would day $BTC, $ETH, $LUNA, $SOL and $MATIC or a dinasour like $LTC or $ADA
2/ -- SPLIT --
You need to decide on a split. In my HODL portfolio, I've started focussing on #Bitcoin as my biggest hold. My split is 30% $BTC, 20% $ETH, 20% $LUNA, 20% $SOL and 10% $LTC.
Everyone has their own opinion on what to HODL and what not to and splits. You do you.
You need to decide on a split. In my HODL portfolio, I've started focussing on #Bitcoin as my biggest hold. My split is 30% $BTC, 20% $ETH, 20% $LUNA, 20% $SOL and 10% $LTC.
Everyone has their own opinion on what to HODL and what not to and splits. You do you.
3/-- AMOUNT --
Calculate an amount of fiat per month you can contribute to buying crypto. This should be money you can afford to lose. Once you know the amount you can move on to the next step ๐
Calculate an amount of fiat per month you can contribute to buying crypto. This should be money you can afford to lose. Once you know the amount you can move on to the next step ๐
4/ -- SCHEDULE --
Next, you pick a schedule, either weekly, fortnightly or monthly. This is how often you'll buy each of the cryptos on your list. Weekly is best but it is also time-consuming. Some exchanges will allow you to set up automatic recurring buys though, which helps!
Next, you pick a schedule, either weekly, fortnightly or monthly. This is how often you'll buy each of the cryptos on your list. Weekly is best but it is also time-consuming. Some exchanges will allow you to set up automatic recurring buys though, which helps!
5/ -- IGNORE CHARTS --
Just ignore charts. It doesn't matter what crypto is doing you just buy as per your schedule and hold. The whole idea of DCAing is you buy no matter what. As long as you believe crypto will go up long term then it makes sense to DCA.
Just ignore charts. It doesn't matter what crypto is doing you just buy as per your schedule and hold. The whole idea of DCAing is you buy no matter what. As long as you believe crypto will go up long term then it makes sense to DCA.
6/ -- PORTFOLIO ---
IMO most people will do better DCAing than trading. Alternatively, you could do what I do and separate your portfolios between a HODL portfolio and a trading portfolio. 40% of my capital is HODL, 50% trading, 10% high risk.
IMO most people will do better DCAing than trading. Alternatively, you could do what I do and separate your portfolios between a HODL portfolio and a trading portfolio. 40% of my capital is HODL, 50% trading, 10% high risk.
This might be the solution for you if you want the best of both worlds. Either way, now you know how to DCA!
One thing I would add is I do trade with my HODL portfolio, even though I should just HODL. That's just me though.
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