So true. Glad the price has subsided. Btc gets less in the radar of gvts and keeps developing.
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I DCA daily into Bitcoin and ETH, also running my own node/validator that generate around 5% APY. Including stable coins I hold around 10% of my NW in crypto.
Besides taxes, mortgage, occasional fines and my cleaning lady I pay everything with my crypto card.
I see bitcoin as a bet on the decline of the current money system and if I look at the inflation rates and public debt it seems pretty probable. It is still my best investment to date and up 1000% since I bought in 2017 and expect it to recover to new ATH in the next 12-18 months.
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What platform are you using to DCA daily into BTC? Binance?
I use swissquote, it’s not cheap, but since I have most of my stocks there I can against them with a low loan plus it’s already on my tax statement.
I have contacted swissquote, lykke and swissborg. Lykke and swissborg are cheaper, but they look to me like start up companies. One of them has there servers in Netherlands. I believe my personal data would be better manage by swissquote. I don’t want to see my name in a future data breach showing I might be owning a lot of money in BTC, in case of huge revaluation. So prob I will open my account in swissquote too.
I would like to schedule automatic weekly bitcoin purchase with for with amount of CHF, but any of these three exchange offer this feature.
Why are u using swissquote for stocks? I believe Interactive Brocker is way cheaper.
I just started there many years ago and am just too lazy to switch
In my case it is this inexplicable feeling of security to have everything in CH.
So you basically deposit XXX USD / CHF / EUR and the bot invests 10 XX every day?
Yes I exchanged most of my cryptos to stable coins half a year ago and now I move them back on the exchange and buy Bitcoin/Ether at 500 USD/day until I run out of stable coins and then move them back in cold storage.
I look at the rainbow price chart indicator for general buy/sell signals:
My favorite indicator Larsson line shows that we still have more downward pressure for bitcoin though…
Etherium looks neutral ATM probably the (successful) merge will decide which direction it goes:
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I am planning to build my bitcoin portfolio by weekly DCA. I would like to do it automatically. Maybe I should use this crypto.com bot, because in swissquote I need to make the weekly purchases manually, and this may be a hassle.
Swissquote fees are:
- 1% buy/sell fee.
- 10 USD for transferring your bitcoin to your cold wallet.
My strategy is:
- weekly DCA bitcoin purchases in CHF.
- and after a while transferring the bitcoin to my cold wallet.
What are the fees in crypto.com for this strategy?
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I staked some CRO and it’s 0,075% for trading fees and 0.0005 Bitcoin for withdrawal (also about CHF 10)
For “externs” it’s 0,4% maker/taker fee, withdrawal is also 0.0005 BTC
Also it’s much faster than swissquote where it usually takes days instead of minutes.
I have a friend that uses lykke with no fees at all, but it looks too good to be true. Prob the lykke bitcoin price is worse than the spot.
Yeah same with swissborg, they have their margin hidden and withdrawal is pretty expensive
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I plan to allocate around 5% of my portfolio in bitcoin.
If I build the allocation with 20K USD average price. After some time I might experience different scenarios:
- 1 bitcoin = 100K USD. Then my bitcoin allocation might be 20% of my portfolio.
- 1 bitcoin = 5K USD. Then my bitcoin allocation might be 1.3%.
Probably I would not sleep well if my bitcoin allocation become like 1/3 of my portfolio.
Is there a popular bitcoin rebalancing strategy? what would be a reasonable percentage ranges?
I would like to write down the bitcoin rebalancing strategy and stick on it. To avoid future crypto emotional headaches by hesitating should I buy more, should I sell a bit, I should have done that…
In permanent portfolio every asset has a 25% allocation, and a popular re-balancing strategy is when any asset reaches 15% or 35%, but I have the feeling that this range may be very short for the bitcoin volatility.
If the re-balance range is too short, we can miss a lot of momentum gains.
I buy on swissborg using chf. Check premium tiers for cheaper fees and better yields
are they slower for withdrawal? or also for buy/sell btc?
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I think a good indicator is how well you sleep. If you don’t it’s too much.
Personally I like the risky stuff. It might go to 0, but it also might 20x, so the odds are fine with me
No they are usually pretty fast, 15 minutes tops