Hi fellow Hodlers,
I hope Im right in this subforum to ask the following question that has probably been asked plenty of times?
When do you buy or do you spread out buying Bitcoin with FIAT?
I myself buy Bitcoin every month no matter the price for a set amount from my paycheck, in hopes of averaging the price I buy for.
Before doing that Id wait and hope to catch it at a lower price but that always seemed to go in the wrong way, aka. price went up =)
Im just asking because I want to know if there is a more effective way to do it?
Ideally, you should not buy Bitcoin through intermediaries. they will buff the price up very high and buy bitcoin will be different from the price on the CEX in crypto market. When you receive your salary each month, you should buy USDT, the price will not be too much difference and then you will use USDT to deposit to exchanges, then will buy Bitcoin, the price will be much cheaper.
I agree with you. If you buy, you should only buy USDT with Fiat, and after you have USDT, you should buy Bitcoin because it will be more accurate than buying Bitcoin directly.
Of course, the spread is very low and is usually only available to large investors entering this market. I also usually take profits in USDT and switch back to Fiat when enough and everything often happens very fast.