Post
Topic
Board Beginners & Help
Re: DCA, the most convenient way to increase your bitcoin as a newbie.
by
BlackHatCoiner
on 09/10/2023, 18:56:31 UTC
DCA is good in the sense that you alleviate any potential drawbacks in price, but what you should absolutely pay attention to is transaction fees. If you're going to buy $50 of bitcoin every week, then at least $1 is mining commission, and dependent on the exchange you use, you might get charged extra. For example, Binance charges 20,000 sat for withdrawing any amount to your non-custodial wallet.

Yes, there is a small percentage of people who make money from trading, but it requires a lot of dedication, study and effort. It is much easier and safer to buy and hold Bitcoin in the long run.
And inside information. What are you going to study anyway if not that?