Have You Tried SIP In Crypto?
I've been doing SIP (Systematic Investment Plan) or investing periodically with some consistency in Mutual Funds for a long time. Over the course of the duration that I've been investing the markets have moved up and down.
I didn't bother timing the market when it comes to SIP and i've seen good gains on my investment over time. However, I generally tend to keep a little extra capital to invest when I find the markets going downhill, and this has allowed me to buy in a bit more.
I've applied the same when it comes to cryptocurrency as well over time. During the absolute lows of last year I resumed buying some BTC/Alts once again and almost on a regular basis (as and when it was feasible for me). It helped me diversify more as well as enter back in at a good price. Top cryptos have gone up so much since then.
Trading regularly will help as well but it is risky if you can't figure your way around the charts, timing of your trades and the market movements in general. As much I am online, even I've missed out on pumps and dumps several times.
Small but periodic investment even with a 3 or 6 month time frames has certainly helped me through this bearish market.
So far many cryptos have been quite bullish but we're a while way from hitting previous ATH levels, but this is good as we have enough time to accumulate some more.
Bearish market has given us a good window of opportunity to stack up on some cheap coins from good projects. Just analyse the gains for major names in the space over the last 6 months.
I used to invest in stocks but crypto is more fun and also more profitable. Especially top coins like BTC and others. This year infact even STEEM has been 'briefly profitable' in USD as well as Sats (a rare event together) if you had bought some around December-Jan.
Overall, SIPs are good for most people, ofcourse everyone's financial goals whether its short-term or long-term are different. I'm just sharing my observations and this isn't a financial advice.
If you've tried investing regularly in order to accumulate more tokens over a period of time in crypto, please drop your views in the comments below and let us know if it has helped you or not.
Here's a quick video explaining SIP in a bit more detail
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I buy a set dollar amount of ETH each month. Nice to see the stack grow. Unfortunately I wasted to much crypto on ICOs in 2017.
I plan to never sell a crypto for a crypto again. If I want more exposure then I need to buy in with new fait.
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Crypto can be far more profitable than stocks but you can lose way more money! Even with a strategy like SIP you can lose due to coins dying where as with stocks (assuming we’re not gambling via options, penny stocks, etc) it’s far less likely.
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