In light of recent bitcoin prices being more favorable I know that some of us have a deep desire to acquire as much as we can before bitcoins price "shoots to the moon!" So how does one do this without much money to invest? I'll explain briefly where Dollar Cost Averaging might just be what you have been looking for...
I Need to Get More Bitcoin, but Don't Have the Money. What Do I do?
Don't Panic! There is an investment technique that has been used by many for a long time now called Dollar Cost Averaging. This method basically suggests that you take the same amount of money each week (What Ever You Can Afford To Invest/Lose) and buy more of whatever coin you are interested in, which doesn't have to be limited to just one.
Regardless of the current price of that particular coin, stock, etc... You just keep putting in the same amount of money in every week. The idea here is that over time the long term performance of the overall investment will be profitable, hence why its an "Average". So even if the price on bitcoin today is $8200 and all you have to invest this week is $25 then that's perfectly fine! The end game here is the long term picture and how much you have acquired over time. This is a sure fire way to ensure that you do not get wrapped up in the FOMO (Fear Of Missing Out) on a particular coin, but instead are actively acquiring more on a consistent basis.
Regardless of what you investment strategies are I thought this one was definitely worth noting. To be clear you have to do what's best for your personal situation and this should not be taken as investment advice. I am not your financial adviser! I just want to get some information out to people based upon what has worked well for myself. Hope this helps!
Happy Trading
