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RE: Wealth Tips - Cost Average for Investing

in LeoFinance3 years ago

I bet 99% of the people in crypto don't buy when there's blood on the street. I am pretty much in the same category and tbh I have never DCAed... I am planning to do so if we will have a serious uptrend on some coins I hold for a while like ADA and XTZ, but I like how organized you are with investing.

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Cost averaging works best when the price is dropping. It helps you to correct the purchase price so you go into profit sooner. On the way up, it increases your average cost. I have done it but you have to watch it because a drop puts you in the red faster. Hope you are over your cold.

Even if the price is dropping or going up, if the DCA-ing is done constantly and with a long term plan, it's hard to get it wrong.