Elite dollar cost averaging strategy for the bear market.
Have you Ever gone “ALL IN” buying the dip in an attempt to catch the bottom but then it drops deeper? The anguish packed in the failed attempt. If you just bought, your only option is watch and wait, but if you leverage your position I wish you the mental strength to survive the pains that come with liquidation text from your exchange.
There are many ways to overcome any of the above scenarios,but the most prominent and most effective being: Dollar cost Averaging!
What is Dollar Cost Averaging(DCA)
Dollar cost averaging is a renowned investment strategy that requires you to divide up the total amount you wish to invest with across periodic purchases in an effort to reduce the effects of volatility and price fluctuation on your final holdings.
There are very many known disadvantages of going all in on a purchase as you run the risk of buying in at an unfavorable price regardless of how long you intend to hold onto the investment.
DCA strategy rests on the idea that you spread the purchase of your investment over different times.
Timing is essential to successfully implement DCA strategy when investing in cryptocurrencies. It requires calculated thoughts and up to date knowledge of the crypto market which Might sound tedious initially, but what if you can keep going about your daily routine while an efficient bot gets the job done for you?! that is possible. Today I’ll be telling you about the Kucoin DCA trading bot and all the numerous advantages of using it.
On kucoin, you can run a DCA bot that will purchase your crypto at the frequency you specify ranging from every hour to 2 weeks regardless of the asset price at the time of purchase. To get started, you need a Kucoin account. KUCOIN is one of the Largest Crypto Exchanges in the World with
💰 700 Billion Total Traded Volume on the Platform,
🌎 Over 10 Million Registered Users from 207 Different Countries.
Kucoin has been Rated the Best Crypto Exchange by Forbes Advisor
📌 kucoin sits in the TOP 3 in terms of Overall Performance According to Coinmarketcap
🚀 Best altcoin exchange of 2022 by ascent.
On Kucoin, you’ll get access to; Margin Trading, Spot Trading, Trading Bot, crypto staking lending & borrowing, Mining Pool and most importantly a free DCA strategy bot for new users to try out.
If you don’t have an account already, you should sign up right away to get a 20% lifetime rebate on trading fees and a chance to win $500 in Bitcoin or $3000 just by guessing the closing price of bitcoin.
Now, What is Kucoin DCA strategy bot and how does it work?
Kucoin DCA strategy bot gives you the ability to spread your investment amount on a single asset across different time frames and ranges. This also reduces the overall impact of price volatility on your crypto purchase.
Seeing that we are in a bear market where Bitcoin and other cryptocurrencies can be purchased at a discount from their all time high, Dollar Cost averaging is the most efficient strategy for you and kucoins top tier grid trading bots are here to enhance your investment capability.
When the crypto market is up, it is common knowledge that more profit is made from investments made during the bear market. Risk free investing during the bear market is the primary advantage DCA trading bot offers you on KUCOIN.
You can choose from Bitcoin and over 600+ other cryptocurrencies which you would like to purchase and set up the DCA bot on kucoin to do the rest.
Here is how to setup your DCA trading bot on kucoin in 5 Easy steps.
- Create a kucoin account and complete verification process or login if you already have an account and buy crypto or deposit funds through any of the numerous deposit methods available.
See guide on making a fiat or crypto deposit
See guide on how to buy crypto on kucoin
2. On the homepage of the kucoin app you can locate and select the trading bot option. On desktop you can find it here
3. On the trading bot homepage, select your preferred bot. In this case we want to use the DCA trading bot.
4. select the “create bot” option,
5. fill in the required parameters to suit your investment strategy and proceed to create bot. You can use the advanced option to specify a profit target for the DCA bot. once the bot meets this target is met, the bot automatically closes all position and stops running. Similar to the Take Profit function.
It is that easy. Now you’re on track for complete buoyancy and financial freedom come the next bull run.
I hope you’re able to get on board and get started trading and making smart investment decisions using kucoin DCA strategy bot. I’m open to questions and comments if you are still not clear. for more information regarding kucoin DCA bots and all other trading bots, please refer to the articles below.
Everything you need to know about kucoin trading bot
Is KuCoin trading bot a money making machine?
Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing
