My self tested technique for DCAing

[348Judah]

If we have tried this method and see that it best works for us, then it is advisable that we keep to using it, because DCA is one of the most advisable strategy for a long term investor to use, it is safe, freely available for use at any stage or category we may found ourself, has the best affordable plan to invest as our source of income works in line to the market performance so that we buy at every dip and hold, maybe more suitable for the monthly income earners as well.

[Stalker22]

Putting money in a bank isnt really dollar-cost averaging (DCA).  Your money loses value every day it sits there, which is what Bitcoin is supposed to fix.  DCAing means buying an asset, like Bitcoin, regularly (daily, weekly, etc.) to deal with volatility and remove emotional decision-making.  Your way is just delayed lump-sum buying.  This contradicts the idea of DCA.

Bitcoin is also an effective strategy for those who don't have huge money to go for lump sum investment. DCA gives you the authority to chose whatever you want to invest per week or per month into Bitcoin. But it's important that you remain consistent with amount you choose for investing. It's also important that you remain patient while you are following DCA strategy because it's a long term strategy and one may encounter scenarios where his portfolio is in negative. DCA is effective only if employed for long duration.     

Yes, but the OP suggests opening a bank account and putting the money in a savings account.  Thats not Dollar-Cost Averaging (DCA); its just holding depreciating currency while waiting to perform a single, delayed lump-sum purchase.  Waiting in a bank account is simply delayed action.  The proper DCA strategy involves converting fiat into Bitcoin as soon as it is available (daily, weekly, monthly, etc).

[Xchange$]

To use DCA as an investment strategy comes with ease, because it renders you the opportunity of getting into the market at every comfortable rate and market situation for buying as affordable by you, then holding it, some will mostly say that we buy the dip and hodl, this comes as a result of a continues market speculations, seeing the opportunity on buying when the market falls and holding to when it pumps at your desirable rate before selling.

Buying when the market fall to sell when it pump up is what traders does and most of them think they can predict the market some after buying to sell when the price increase sell at lost bitcoin is volatile and can even dip more at that condition will sell out of panic and fear if it dip more and more and they sell at lost but if you can be buying with the DCA strategy and be hodling for a very long time without thinking of selling there might be a bigger Profit for you than those who buy and sell in a short time .

[Xcode7]

If we have tried this method and see that it best works for us, then it is advisable that we keep to using it, because DCA is one of the most advisable strategy for a long term investor to use, it is safe, freely available for use at any stage or category we may found ourself, has the best affordable plan to invest as our source of income works in line to the market performance so that we buy at every dip and hold, maybe more suitable for the monthly income earners as well.

The DCA method must be carried out consistently regardless of what happens to market prices, but we must make defensive purchases regularly to continue to add to the portfolio and indeed this strategy is quite good, of course, for someone who wants to invest long term and has regular money ready to be invested every week or month.
I have tried it, making small investments every week, without realizing it, my assets continue to grow and we don't feel any financial disruptions, that is an advantage of investing in my opinion when we are able to stabilize our finances without being disturbed.

[Lanatsa]

If we have tried this method and see that it best works for us, then it is advisable that we keep to using it, because DCA is one of the most advisable strategy for a long term investor to use, it is safe, freely available for use at any stage or category we may found ourself, has the best affordable plan to invest as our source of income works in line to the market performance so that we buy at every dip and hold, maybe more suitable for the monthly income earners as well.

The DCA method must be carried out consistently regardless of what happens to market prices, but we must make defensive purchases regularly to continue to add to the portfolio and indeed this strategy is quite good, of course, for someone who wants to invest long term and has regular money ready to be invested every week or month.
I have tried it, making small investments every week, without realizing it, my assets continue to grow and we don't feel any financial disruptions, that is an advantage of investing in my opinion when we are able to stabilize our finances without being disturbed.

The beauty of the DCA method is that it keeps you disciplined and consistent it removes emotion from investing and allows you to build your position over time without worrying too much about short term price changes when you invest small portions regularly, whether weekly or monthly, you average out your entry price and reduce the risk of buying everything at the top. The most important part of dca is consistency it doesn’t matter if the market is red or green the idea is to keep buying regardless because over time the small dips and rises balance out this is why it works best for long term investors who believe in Bitcoin’s future and understand that volatility is normal.

Many people who earn a monthly income find DCA perfect because it aligns naturally with how they receive money they can set aside a fixed amount from each paycheck and invest it without pressure this way, they’re growing their portfolio slowly while still managing daily expenses comfortably. The other big advantage is how stress free it feels when you invest small amounts regularly you don’t feel the financial strain or panic if the price drops you actually see dips as an opportunity to accumulate more with the same budget after months or years of doing it you look back and realize how much your assets have grown even without big capital dca might look simple but its strength is in patience and discipline it’s the best way for regular people to build wealth quietly over time without taking reckless risks.

[uchegod-21]

‎
‎Here's an effective trick for DCAing that I discovered, and upon exploration although briefly, this technique I am about to divulge, turned out to be more helpful and safe than purchasing fractions of BTC from an exchange on a regular basis.
‎
‎The technique is to employ the use of either an old or a new bank account without debit cards or alert notification or bank apps or USSD code options for countries who use it, and in which the withdrawal option demands physical presence in the bank.
‎
‎After a while of saving up these funds in the bank, one can then go there to withdraw it over the counter maybe quarterly and then use it to buy BTC directly from any good exchange after which it can be sent to a cold wallet for hodling and continuation of the DCA strategy until the expected duration is complete.
Mind you, this technique would be more effective where it is kept a secret from partners or close friends and associates.
‎
‎* Have you discovered any better ways to DCA your BTC for long term? If 'yes', please share and if 'no', do you think my technique is worth a shot when considering a long term DCA plan?

* Are there any pitfalls that you notice and that may cause problems for one when they try out this technique of DCAing?

Have you considered the following?

• that while you save your money in the bank waitingfor the perfect time to withdraw it and buy bitcoins, the value of your fiat savings might reduce due to inflation?
• that while your money is still there in the bank, you might miss the opportunity to  make some profits as the value of bitcoin fluctuates?
• that while you save in fiat, the value of your fiat saving might reduce due to some unnecessary bank charges or your account might suddenly get restricted for some reasons?

If you want to DCA, do it right. This your method defeats the essence of Dollar Cost Averaging. Or, maybe you should let us know why you think that this your method is better than the DCA strategy we all know.

[XOOMBOX]

If we have tried this method and see that it best works for us, then it is advisable that we keep to using it, because DCA is one of the most advisable strategy for a long term investor to use, it is safe, freely available for use at any stage or category we may found ourself, has the best affordable plan to invest as our source of income works in line to the market performance so that we buy at every dip and hold, maybe more suitable for the monthly income earners as well.

You are right because if a method works well for us then it would be wise to continue it  without any worry. However, the real idea of ​​DCA (dollar cost averaging) is to invest directly over a period of time not just keep money in the bank and buy something all at once after when needed. If you keep it in the bank the effect of DCA is actually lost and the value of money also gradually decreases. So, my honest opinion is regularly buying and selling in small amounts to smooths out market fluctuations and provides good profits in the long run, especially for those who want to invest in per month.

[₿itcoin]

‎Here's an effective trick for DCAing that I discovered, and upon exploration although briefly, this technique I am about to divulge, turned out to be more helpful and safe than purchasing fractions of BTC from an exchange on a regular basis.
‎The technique is to employ the use of either an old or a new bank account without debit cards or alert notification or bank apps or USSD code options for countries who use it, and in which the withdrawal option demands physical presence in the bank.
‎After a while of saving up these funds in the bank, one can then go there to withdraw it over the counter maybe quarterly and then use it to buy BTC directly from any good exchange after which it can be sent to a cold wallet for hodling and continuation of the DCA strategy until the expected duration is complete.
Mind you, this technique would be more effective where it is kept a secret from partners or close friends and associates.
‎Have you discovered any better ways to DCA your BTC for long term? If 'yes', please share and if 'no', do you think my technique is worth a shot when considering a long term DCA plan?

Ha ha ha,  you have taken this move very cleverly. You have spent your emotional access to fiat &  whenever you get a little more money in hand, you are stacking BTC with it. This decision will help you get rid of over-trading or panic buying.

But the main concern is that inflation will eat up the fiat lying in your account &  if BTC pumps then, you may lose some profits due to that.
There is another risk that banks, looking at the situation in the country, may freeze or flag inactive accounts.
I personally prefer automated DCA from the exchanger to direct cold storage because of the less hassle. But of course, this method of yours is very profitable for those who lack discipline.

[ChocolateBitcoinK]

\
‎Here's an effective trick for DCAing that I discovered, and upon exploration although briefly, this technique I am about to divulge, turned out to be more helpful and safe than purchasing fractions of BTC from an exchange on a regular basis.The technique is to employ the use of either an old or a new bank account without debit cards or alert notification or bank apps or USSD code options for countries who use it, and in which the withdrawal option demands physical presence in the bank.After a while of saving up these funds in the bank, one can then go there to withdraw it over the counter maybe quarterly and then use it to buy BTC directly from any good exchange after which it can be sent to a cold wallet for hodling and continuation of the DCA strategy until the expected duration is complete.
Mind you, this technique would be more effective where it is kept a secret from partners or close friends and associates.
‎* Have you discovered any better ways to DCA your BTC for long term? If 'yes', please share and if 'no', do you think my technique is worth a shot when considering a long term DCA plan?
* Are there any pitfalls that you notice and that may cause problems for one when they try out this technique of DCAing?

The method you have chosen to invest in is basically a safe strategy. The advantage of the DCA method is that it maintains mental stability and reduces risk so that the impact of market fluctuations or volatility can be eliminated through averaging. The DCA method is to buy assets in stages and regularly. You can definitely continue your plan in the long term if you can invest regularly, be disciplined and control excessive risk taking. Every investor should adopt a strategy that is consistent with their financial system, goals and mindset.

[Bitcoin Smith]

There is a flaw in this strategy because you are encouraging the fiat money to be held for long term and anyone who know how money works will say that is bad, and you don't need to hold and accumulate fiat money either because you can buy bitcoin even for $10 on an exchange and just keep accumulating on the exchange wallet until there is considerable amount that is worth withdrawing to your wallet because there will be a withdrawal fee which usually on higher side for the bitcoin.