Dollar Cost Average investment strategy and recurring payments
The Dollar Cost Average investment strategy is the best option to eliminate market volatility. The stock market fluctuates daily, and its short-term variations are difficult to predict. For instance, you may inadvertently buy an asset at the highest price and have to wait a long time for the market to return to that level. The strategy’s main principle is that every asset’s price should rise over time. If you want to use this strategy, be ready to invest the same amounts of funds into the same asset at the same intervals (let’s say, once a month for a year) without focusing on its price.
Moreover, experts support the approach that the investor should not be concerned with checking charts every day and determining the optimum time to acquire cryptocurrencies. Just let things go for a while and take it easy. By the way, bit4you cryptocurrency trading platform is pleased to inform you that you can take advantage of recurring payments also with our App and no longer worry about your regular payments with crypto! In addition, it is a great opportunity to get familiar with DCA strategy and make your crypto trading more diverse.
Thus, that’s why the recurring payments are extremely useful there: they eliminate the necessity to concentrate on daily market fluctuations and concerns about constantly checking your balance. Also, you will become more disciplined once you have established recurring payments because there is no need to interfere with technical aspects or be concerned about the quantity of investment. In general, by combining the DCA approach with the services of bit4you recurring payments, you can further simplify your trading and investment as well as reduce the risk of a severe portfolio drop.
As you know, every strategy has its advantages and disadvantages. For instance, DCA guarantees that you will receive the average price over the last X weeks. You never buy something that is either expensive or extremely cheap, so balancing out the volatility. On the other hand, the strategy, as some crypto investors believe, may cause lost earnings during a bull market. In this way, the strategy limits investment growth as the market grows. However, everyone should make their own choice based on their feelings and experience when it comes to such volatile crypto assets.
In recent years, the faster and easier a provider can supply its goods or services, the more likely you will use them again. Subscription through recurring payments is an ideal model in this regard. You do not have to worry about making a payment on time. The money is automatically deducted from your account, and you continue to do the things you like without worrying. Keep reading this article to know how to make recurring payments work and to understand their advantages and disadvantages.
Recurring payments is a procedure whereby the merchant/service provider makes continuous automatic withdrawals from your account for a specific product/service at regular periods. The payments schedule must be agreed upon in advance and a one-time consent from you should be required for subsequent withdrawals. When using a product/service for the first time, you will be requested to provide card details. All further transactions will be automatic. The main objective of this payment model is to improve payment quality. You can enjoy services without having to worry about monthly fees. However, comfort can also be a disadvantage. In reality, such a payment scheme carries some risks. So let’s see why recurring payments are also risky.
Once you have agreed to periodic withdrawals, this payment system carries additional points. Firstly, you may simply forget that you have accepted the service and agreed to periodic withdrawals. If the provider bills you again for the service provided, you may demand a refund or even apply for a return. If the number of chargebacks exceeds the limit, you could face serious charges from the payment system. Secondly, if an error occurs, it cannot be changed. In the case of one-off payments, an error in the amount or other inaccuracy can be quickly corrected. However, in the case of a recurring payment, you will have to pay for the service, and only then you can claim a refund. And thirdly, you may wish to cancel the contract. Often recurring payment contracts are open-ended. Therefore, to stop paying for a service, it is necessary to terminate the contract by first finding out how to do so. This can also lead to complaints and negative attitudes in the future. That is why it is best to pay attention to all the terms of the recurring payment in advance and to read them out in the contract.
Despite all the risks mentioned above, recurring payments have many advantages. For example, you can make your life easier and free your head from the daily payment tasks. These payments can also be set up on the bit4you website. You can also set up scheduled top-ups if you have a planned holiday or business trip, for example. You can set up a recharge every week by a small amount and when you know the dates of the holiday, you can edit or delete the automatic payment for that time. If you don’t have any funds on your card, you have several days to refill it. By setting up a recurring payment there is no need to re-enter your card details manually — payment of important bills will be automatic.
Thus, that’s why the recurring payments are extremely useful there: they eliminate the necessity to concentrate on daily market fluctuations and concerns about constantly checking your balance. Also, you will become more disciplined once you have established recurring payments because there is no need to interfere with technical aspects or be concerned about the quantity of investment. In general, by combining the DCA approach with the services of bit4you recurring payments, you can further simplify your trading and investment as well as reduce the risk of a severe portfolio drop.
As you know, cryptocurrency is an extremely unpredictable kind of digital asset, so many people lose money as a result of a lack of information and abilities. We recommend you to check bit4you Academy before integrating the DCA strategy into your recurring payments. Also, we are very pleased to announce that the option of recurring payments is already available on bit4you’s app version! In this way, you are able to test how recurring payments work together with the DCA strategy risk-free with the help of our Demo mode.
Take advantage of the new option on the bit4you cryptocurrency trading platform and make your crypto journey more fascinating!
However, although recurring payments are great for you, don’t forget the potential pitfalls. Recurring payment settings make life easier for the modern person by converting routine into automatic payments. With them, you won’t forget anything, meaning you won’t be in arrears.
