I started my DCA journey in crypto 2 years back in the year 2020. It was the lockdown time and at that time I started my first ever DCA in bitcoin. It was the time when HIVE was born and I got so much time to invest in LeoFinance and that helped me to enhance my learning and overall knowledge of crypto. I found that DCA is the best way to invest in crypto for the long term we can average out the buy and with consistency we can buy at much lower prices than we get with spot trade. I started DCA first with bitcoin and then later I added Ethereum to the list and with April end now I have completed 2 years.
It's the time when I am adding another coin to my DAC list and it's MATIC. Polygon network is doing well these days and they have built a chain that is not fast, safe and cost-effective transaction fee is minimal. PolyCUB DeFi is built on a polygon network and in this chain MATIC is the native token like BNB in the Binance Smart chain so any fee will be paid in form of MATIC. I have been tracking the coin for the last few months MATIC is surely a coin that has much potential in the long run so now I have stated my DCA in MATIC from 1 May.
I use https://www.coinzak.com/ to set up this EIP in MATIC and here we can also see the chart and historical price and overall movement. This portal allows investing using fiat currency INR and the only thing I would need is to maintain the balance in my wallet.
I am starting this SIP from 1st My with daily frequency of INR 50 however the minimum requirement is INR 10 but I am going with INR 50 which is approx $0.66 and this can also e changed later. The entire process is so simple and hardly takes a minute time and just after clicking the Start SIP button and it's done.
Now since my SIP setup is done and it's shown like this. My next SIP would be executed on 1 may 202 and this will be purchased through Bitbns exchange. All the stats are showing zero as of now however this will be updated once the buy orders will start executing. So my SIP in MATIC (polygon) is all set and there is nothing more I need to do.
I have shared how my DCA in bitcoin worked earlier and now with added MATIC and this way I am trying to accumulate more tokens through my daily buy.
If we look at the chart for the coin then we will notice that the price has gone down by over 40% in the last 3 months. Matic price was over $2 in Feb month and now after 3 months, its price is approx $1.15 and and even its all time high price was almost $3 so I think its a good time to start the SIP in MATIC. I have done my research however if you want to do this then please do your own research and this is not financial advice anyway.
Thank you so much
Stay Safe
Posted Using LeoFinance Beta
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