How to implement a DCA strategy for buying Altcoins with BTC?

I'm currently using Dollar Cost Averaging as my Crypto investment strategy across the big 3 (BTC, LTC & ETH). I'd like to allocate a small portion of my portfolio to a small number of other coins that I've researched and I think have a lot of potential and continue to slowly increase my holdings by a set amount each month with DCA.

It seems like the best way to purchase Altcoins is by buying BTC in local fiat (AUD), transferring to Bittrex and then purchasing using a BTC-Altcoin trading pair. I'm cautious of buying a lump sum of BTC and transferring to Bittrex in the event that the price decreases significantly. It seems as though you double-expose yourself here as (I think) BTC declining in value reduces your buying power plus the regular risk of the coin being purchased decreasing in value.

Am I missing something or overthinking it here? What's your recommendation for implementing a DCA strategy for buying Altcoins with BTC?

submitted by /u/rheotron
[link] [comments]

Read More

Popular posts from this blog

World Economic Forum Bitcoin Discussions Validate the Movement

The World Economic Forum WEF has long been a lightning rod of global discussion on economic, social and political trends. This years gathering in Davos, Switzerland, was no exception.Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions.
Read more