How Dollar Cost Averaging (DCA) Fit Help You Handle Bitcoin Volatility

[Dulen007]

I dey do my normal research  before I come across this method wey dem dey call  Dollar Cost Averaging (DCA), and I feel say e go really help beginners like me wey dey fear Bitcoin price wahala.

Wetin be DCA?
DCA just mean say you go dey buy small small Bitcoin steady  like every week or month no matter how the price be. E no concern you if price go up or down, you go just dey buy your small piece dey go.

Example:
Instead make you wait to buy ₦100k Bitcoin once, you fit dey buy ₦10k every week. After some time, your average price go balance, and you go dey less worried about big dips.

Why I feel say DCA make sense:

1.E go help you avoid panic buying/selling

2.You no go dey guess market tops and bottoms

3. E go train you to dey save and invest small small

4.You no go lose everything at once if market drop

This one really dea good for people wey dey earn salary or get steady income. Even if price drop, you dey still buy am cheap and balance everything later.


References: What is Dollar-Cost Averaging? – Investopedia  

[Charles-Tim]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

[BIT-BENDER]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

If we want to protect the originality them it should be Naira cost average but many of are familiar with the dollar me I like to value things in dollars than the Naira because we are mostly on the global space so it is easier seeing things in Dollars than Naira.
But the topic is already too much on the forum, adding more on this topic with nothing really new is unnecessary. The search can help anyone get information .

[Ambatman]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

I don't know. I'm not sure I have seen an exchange where Bitcoin is gotten in naira.
Though Naira is our local currency, Bitcoin and others are usually valued in dollar
I personally don't even know the Naira equivalent price of Bitcoin now.

But since OP used Naira as an example, I guess it wouldn't hurt to also call it NCA.
Already used to measuring Bitcoin value in Dollar.

[Joy- maker]

Normally this particular topic had been discussed over and over both here in the local board and outside the local board, and here in the local board we call it NCA strategy and not DCA strategy since dollar is not our country currency but Naira, But outside the local board you can call it DCA strategy. And secondly NAC strategy is a strategy that allows any bitcoin investor to buy bitcoin at anytime with his or her discretionary income, without been bothered about the bitcoin price as at that time he or she is buying the bitcoin, since the person's mindset is already long term holding. But still on still I encourage your effort your thread is a very nice topic, so don't feel bad if you are getting the comments you where expecting to get.

[Mate2237]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

I don't know. I'm not sure I have seen an exchange where Bitcoin is gotten in naira.
Though Naira is our local currency, Bitcoin and others are usually valued in dollar
I personally don't even know the Naira equivalent price of Bitcoin now.

But since OP used Naira as an example, I guess it wouldn't hurt to also call it NCA.
Already used to measuring Bitcoin value in Dollar.

You're right Bitcoin is a global asset and is usually associated with the dollar in the international market just like any other business which involves foreign exchange even though @Charles Tim made a point I don't personally think that using Naira cost Average is necessarily because everyone understands what the OP is trying to pass in his thread.


Dollar cost Average/Naira cost Average is actually an investment method not only restricted to Bitcoin or crypto currency only but also can be applied to other business it involves saving our small amount of money for the purpose of investment over a period of time so it can help anyone who is really serious about investing in Bitcoin especially those who are new to Bitcoin investment as it will not cost them much since you are using small amount of money in investing

[Cryptohygenic]

I dey do my normal research  before I come across this method wey dem dey call  Dollar Cost Averaging (DCA), and I feel say e go really help beginners like me wey dey fear Bitcoin price wahala.

Dcaing strategy no be for people way dey price issues oh bcos anyhow the price for always remain volatile and unpredictable. So if u buy bitcoin for a particular dip value no tink say e no fit fall further.
Dcaing individuals accumulating strategy particularly for discretionary incomes investors way dey but bitcoin on the regular and no care about the price. The strategy dey helpful to acquire much satisfying value of bitcoin if person get target of particular amount to acquire whether in the short or long term.

[Asiska02]

~

I don't know. I'm not sure I have seen an exchange where Bitcoin is gotten in naira.
Though Naira is our local currency, Bitcoin and others are usually valued in dollar
I personally don't even know the Naira equivalent price of Bitcoin now.

But since OP used Naira as an example, I guess it wouldn't hurt to also call it NCA.
Already used to measuring Bitcoin value in Dollar.

The word NCA (Naira Cost Average) may sound new and dull to hear but it is actually a good one if we represent buying of bitcoin using Naira as NCA instead of DCA that it’s popularly known as. Every other thing one needs to know about DCA is the same thing as what NCA will mean because they’ve the same thing and just the currency used to represent them will differ.  This is my first time hearing NCA and its meaning serves well what it’s used for in this local board. Common let’s NCA into bitcoin😁

Dollar cost Average/Naira cost Average is actually an investment method not only restricted to Bitcoin or crypto currency only but also can be applied to other business it involves saving our small amount of money for the purpose of investment over a period of time so it can help anyone who is really serious about investing in Bitcoin especially those who are new to Bitcoin investment as it will not cost them much since you are using small amount of money in investing

You have made a good point but it doesn’t mean that the money we are doing NCA with has to be a very small amount, it can be a big amount of money which to the person doing the NCA will see it as a small one. And since they can’t accumulate all at once, they need to just buy them with the little they have and continuously do it anytime they get the chance. It is just a fact that many of us have being involved in NCA all these years but we never knew we are until how the concept of DCA/NCA works was explained.

[nelson4lov]

As someone that one starts doing the DCA method, I'd say it's one of the best strategies to buy into bitcoin no matter what price you're getting in. Someone that thought $20k ATH years ago was the top and DCA on the way down will be super happy likewise the $60k top buyers in 2021. If they kept DCAing, they'd be pretty much huge by now.

If anyone is going to DCA, they should also keep separate funds go bigly in a serious market dip like the $74k dip we had in March or the $98k dip in May.

[Dr.Bitcoin_Strange]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

You are right, I agree with your idea, but I also think that the acronym DCA or NCA can be used by a member based on the fiat they are using to buy Bitcoin. For example, if am directly spending naira for Bitcoin, when posting on the local board, I will definitely use the NCA which is right, but what if am spending dollar directly to purchase Bitcoin, that means even if am posting on the local board, I could also use the DCA which is also right. My thoughts tho.

[Wiwo]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

You are right is very important to mentioned that NCA is the currency we use for local board discussions since whatever we are discussing here is peculiar to pur Nigeria situation and we shouldn't be using other currency for measurement like dollar's or other foreign currency so we have to focus more on converting everything to our local currency for easy understanding onnthe computing process for newbies.

Beside do we really sneed another thread for this discussions, i advice we front our focus to the old discussions since alot of helpful contributions are already made there in the old thread.

[SatoPrincess]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

I don't know. I'm not sure I have seen an exchange where Bitcoin is gotten in naira.
Though Naira is our local currency, Bitcoin and others are usually valued in dollar
I personally don't even know the Naira equivalent price of Bitcoin now. 

You can set the fiat price to NGN in “preferences option” in your settings. If you are familiar with Remitano or l ola exchanges you would know that the exchange has btc price equivalent in naira.

[cxtreenal]

Normally this particular topic had been discussed over and over both here in the local board and outside the local board, and here in the local board we call it NCA strategy and not DCA strategy since dollar is not our country currency but Naira, But outside the local board you can call it DCA strategy. And secondly NAC strategy is a strategy that allows any bitcoin investor to buy bitcoin at anytime with his or her discretionary income, without been bothered about the bitcoin price as at that time he or she is buying the bitcoin, since the person's mindset is already long term holding. But still on still I encourage your effort your thread is a very nice topic, so don't feel bad if you are getting the comments you where expecting to get.

The NCA strategy is a fascinating one that we can discuss in our local board, but out of local board we are more comfortable calling it the DCA method even for use outside the local board and for the sake of understanding by all. Our basic point is to accumulate Bitcoin and build ourselves up to a decent level so that we can enjoy financial stability.
The main point of the thread is to discuss the best method of accumulating Bitcoin through discretionary income and to introduce a level of longer term accumulation among investors and if we talk about Naira here it will be more encouraging for us. Usually many investors buy dollars using local currency and engage themselves in Bitcoin accumulation and keep Bitcoin for the long term so it can be encouraging.

[Frankolala]

I love the DCA method because it will discipline you to always use part of your discretionary income to buy bitcoin whenever you have it and that will become part of you. It's a good way to save and pile up your bitcoin overtime without much stress on you financially.

I don't know. I'm not sure I have seen an exchange where Bitcoin is gotten in naira.
Though Naira is our local currency, Bitcoin and others are usually valued in dollar
I personally don't even know the Naira equivalent price of Bitcoin now.

But since OP used Naira as an example, I guess it wouldn't hurt to also call it NCA.
Already used to measuring Bitcoin value in Dollar.

I buy bitcoin via p2p with Naira and not Dollar which I believe that most Nigerians buy like that. Apart from those in signature campaigns. DCA/NCA it means the same thing, because you must still convert your Naira to Dollars for someone living in Nigeria to buy bitcoin.

[SmartCharpa]

This method dey help people like newbie wey dey fear Bitcoin price. If person dey buy small small every week or month, e no go too worry when price rise or fall. You no go dey panic or dey rush sell, you just dey follow your plan. I like the way you break it down say instead make person wait to gather ₦100k once, e better make you dey use ₦10k dey buy every week. That one go make you balance well.

Na this kind method go help person wey dey earn salary or person wey get small income. Even if price drop today, you fit still buy small and when price go up again, na profit you go see. E go give you confident to know how save and invest without pressure. You no go dey stress say, when be the best time to buy? because you dey buy anytime. You just dey build your own holding small small, and na so e suppose be.

[Derekfunds]

We have discussed about this before and I remembered that I corrected the OP of the thread that it is NCA here on local board because we spend naira in Nigeria and not dollar.

NCA means naira cost average.

If we want to protect the originality them it should be Naira cost average but many of are familiar with the dollar me I like to value things in dollars than the Naira because we are mostly on the global space so it is easier seeing things in Dollars than Naira.
But the topic is already too much on the forum, adding more on this topic with nothing really new is unnecessary. The search can help anyone get information .

You are absolutely correct and I don't think there is something wrong with using the term DCA here in our local board since more than 90 percent of us knows what it is already and we are conversant with it. So using the NCA to explain this doesn't really make sense because I don't think it is recognize outside this our local board unlike DCA that is recognize almost everywhere. There is a scenario where someone will mention NCA instead of DCA to be honest with you I may not understand like I said I don't know if it is recognize anywhere maybe I will try and check Goggle to confirm.