![]() ![]() ![]() ![]() There's a term for this, it's called Dollar Cost Averaging (DCA) and the premise is, by investing a set amount each day/week/month, with a volatile asset such as crypto, you'll get a price that's on average lower than just throwing your money in at one price point.ĭCA is a common long-term investment strategy outside of crypto, it's been commonly used in the stock market for decades and has proven results. Where no matter the price of my favorite projects I was going to invest money. ![]() Well I've got news, there's never a perfect time.įor me the way I was able to overcome this paralysis by analysis was to set a daily/weekly/monthly investment plan. This effects people in one of two ways, either they mourn the 5% they could have saved by being patient, or are frozen in fear and neverinvest again - waiting for the perfect price. They will be rather upset if they jump into Bitcoin when it's at $40,000, then a dip happens and they could have bought at $38,000 if they'd just waited a few more minutes. It's not a crazy amount in cashback but it's money I have to spend anyway, getting BTC back is a great benefit.Īnother common misconception I see is a lot of crypto newbies think they need to jump in at exactly the right time. I've also been able to setup my monthly rent payment and all utilities to be paid via my BlockFi and Nexo credit cards. I use them to double dip my rewards with Lolli and for other expenses. I like using this if what I'm looking for isn't included on Lolli.Ĭredit Cards - Between 1.5%-3.5% cashback on all purchases. You can choose to get also get their prepaid debit card which further rewards users in BTC. I like using this for purchases I'd be making online anyway, from groceries to shoes.įold - Similar to Lolli, cashback paid in BTC when you shop. Lolli - Up to 30% cashback paid in BTC when you shop. And since you'll be spending the money anyway, you might as well earn some cashback for it! There's a lot of really good crypto cashback options that have come out recently, I'll just share what I use here. I recommend you do the same! Take a look at your budget and really find out where the money goes.Īfter cutting your expenses you'll be left with just what's necessary. I started with just cutting out a little and have become addicted to seeing how low I can go and still live a comfortable life. Since then I've adjusted my own personal budget so I live off about 30-40% of my income and invest/save/donate the remaining 60-70%. I saw very clearly why I thought I didn't have money. So when I was forced to write down each time I spent money during the day, I got a little bit disgusted with myself. With so many transactions today being digital I can quickly lose track of spending. What worked well for me was to just write it down. There's a lot of really good tools out there to help you with spending. If that $6,570 was invest into BTC a couple years ago, even with deflated prices as they are now, you'd have 300x what you had initially put in. What looks like a few dollars a day quickly adds up. I've got a little bit of a sweet tooth and spending can quickly get out of hand. I see all sorts of stats come out about this, with average spending for Millennial/Gen Z'ers ranging between $18-$30/day on coffee and eating out. Rather than tell you about the next low market cap gem that will 10,000x your investment, I'd like to share with you the 1,000 tiny things you can do to help grow your wealth and get that Lambo.Eventually.įor most young people it's coffee or eating out. Well today I'd like to be that boring guy. Everyone is in awe of the trader who makes a massive gain on one risky investment, nobody gets excited about the trader who makes 100 smart, tiny wins. It isn't glorified by movies or television. The mentality of Stacking Sats isn't based around making one big break, but by building your wealth the sustainable way, slow and steady. Stacking Sats has been a term commonly used in the Bitcoin community that describes building your holdings through small, incremental increases. While that may happen from time to time, it's usually not how massive amounts of money are created and sustained. That by jumping in at the perfect time they'll be able to 1,000x their initial investment and finally be able to get that Lambo they've always wanted. Many people I know, myself included, when first introduced to Crypto think that making one massive trade is the key to wealth creation. ![]()
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