Building an investment portfolio in bitcoin and other cryptocurrencies using dollar cost averaging
For some cryptocurrency investors, their preferred investment approach is to invest on a regular basis, not to try and buy the dips. For a highly volatile market such as cryptocurrencies, this method known as Dollar Cost Averaging (DCA), means that investors are investing in the overall long-term trend of the market.
Clive Jimmieson of Crossgate Capital – New Zealand’s first regulated share offer in a company investing in bitcoin and other cryptocurrencies – says ’the approach of considering cryptocurrencies as a long-term investment removes the near impossible challenge of picking the bottom of the market”.
There has been a number of recent announcements in the world of cryptocurrencies, the most notable being, Libra, Facebook’s entry into the market. Jimmieson noted, “this could move the dial for other companies who may have just been focused on a blockchain approach without considering the need for a cryptocurrency strategy.”
Jimmieson stated, “we have been approached by a number of investors who are looking for an easy way to buy bitcoin and other cryptocurrencies on a long term regular basis and add to their investments in a simple quick method.“
Jimmieson added, “Crossgate Capital provides an easy on ramp into the world of cryptocurrency investing. We have now made it even simpler by introducing an automated reinvestment option”.
“This provides a great option to our investors as it lets them stick to an investment plan and build their portfolio over time.”
For investors who buy bitcoin or other cryptocurrencies using the DCA approach, they are not fixed to their screens watching the charts.
Crossgate Capital provides investors an easy, convenient and non-technical path to cryptocurrency investment, says Jimmieson. We take care of which cryptocurrencies to buy, storage, tax, reporting and keeping track of this fast moving market – removing the complications to invest is what we are all about.