DCA-ing in a bear market = BIG Profits in Crypto Bull Market. Are you too busy to invest in crypto regularly, but want to make big profits? Then dollar-cost averaging is for you. See our article on this topic. Not only can you get profit from the rise of the crypto market. I also take most of the emotional ups and downs out of the game. Emotions that cost you money.
Dollar-cost averaging (DCA) for short means buying a chunk of crypto at regular intervals. For instance, every day, every week, or every month. But right now, I’m going to reveal a mysterious DCA tool that is most probably at your fingertips right now, but you’re completely unaware of it. So stay tuned.
What is Binance Auto-Invest?
So, I found a great DCA strategy that you can follow; Binance auto-invest. You can choose your own basket of crypto coins. When to buy and for how much. But it gets better. It even has an option where it does all the hard work for you. You don’t even have to think too much about it. It helps pick and rebalance your coins. More on that in a second.
Source: Twitter
How Does Binance Auto-Invest Work?
The first option is to pick one or more coins and start auto-invest. Binance has 211 coins available for this. In total, I picked 5 coins, with a $1000 budget. My low-risk picks are Bitcoin (BTC) and Cosmos (ATOM). Furthermore, I went for a marginally higher risk with Render (RNDR), KAVA (KAVA), and Injective (INJ). This turned out to be a great choice. These last three coins made my portfolio go green.
I opted for a bi-weekly DCA strategy with $100 per coin. Entry dates were 10th April and 25th April. You have options to enter daily, weekly, bi-weekly, or monthly. On BTC and ATOM, I lost $6 since 10th April. That’s within reason. With DCA, sometimes you have weeks or months that you find yourself in the red. However, having said that on the other 3 coins, I made $249. On a $1000 investment, that’s a nice overall ROI of 24.9%. Furthermore, until 18th June, there are no trading costs for auto-invest.
Binance CMC Cryptocurrency Top 10 Equal-Weighted Index
However, if this is too much work for you, here’s another option. How about the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index? You can choose from the top 10 coins on Binance. And you know what, at the end of each month, they rebalance.
Source: Twitter
So, you almost have to do nothing whatsoever. Make sure to start your campaign. Pick your coins and keep your account funded. Here, you can also pick daily, weekly, bi-weekly, or monthly DCA cycles.
However, you don’t need to pick between 211 coins. You have the top 10 coins at your disposal.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
