Dollar Cost Averaging on Binance — The best way to grow your crypto portfolio
Let’s face it, many of us cannot afford to buy a huge chunk of Bitcoin in one go.
That could be because of the current high cost of living plus the other financial obligations that we may have.
But that should not be a hindrance to obtaining it as one can buy fixed or small amounts at different times. This habit will eventually build a crypto portfolio.
Buying fixed amounts of crypto at regular intervals and at different prices is called Dollar Cost Averaging ( DCA)
Example:
An employee that receives a monthly salary can choose to buy $50 worth of crypto at the end of every month regardless of the price.
They can do so by setting up a recurring buy on Binance using their Visa or Mastercard.
Benefits of DCA
When DCA a buyer is cushioned from experiencing huge losses.
Because they buy the asset at different prices. In the long run especially in bear markets, their entry prices balance out giving them an average entry price.
