Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.
Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.
HODL both obviously.
Also at what point is a hardware wallet required?
both have good potential, but I am more likely to choose option 2. For the long term it is quite effective, buying assets with the same nominal value within a certain time (weekly or monthly) regardless of the price in the market at that time, or better known as the Dollar-cost averaging (DCA).Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.
HODL both obviously.
Also at what point is a hardware wallet required?
Investing is actually very simple, as long as we are ready to face the worst risks. In my opinion, DCA is very effective for beginners because the method is quite simple and easy, it can reduce the risk of loss due to bad timing. Consider the following examples of DCA strategies:
when the price of bitcoin goes up, you get less BTC, but vice versa when the price of bitcoin goes down, you get more BTC. If accumulated over a certain period of time, and can get execution at the right time, during bullrun, you can feel the benefits
