If you’re doing Dollar Cost Averaging do you have a specific platform you use?
I’ve found BlockFi is easy - You can make a deposit for a minimum of $20, then setup daily/weekly/monthly buys of what they have available: LINK, ETH, BTC, etc. There aren’t fees associated with these buys, and they happens at a random point in the day.
I deposit from my regular bank account, it’s converted to GUSD. Then it purchases a little bit of ETH or BTC when I say to. Super easy, set it and forget it.
- No fees for transfers/purchases
- Variable intervals setup transfers every day, every week, 1st of the month, 15th of the month
- If you make a deposit, it’s immediately turned into GUSD and earns 8.6% while it sits there. (At least for now… hope these interest rates keep holding on)
- From what I’ve read and podcasts I’ve listened to, they have reserves — if something happened, they should be covered.
- Not much to choose from if you’re looking for anything out of the popular ones - ETH, BTC, LINK, GUSD, PAX, etc. are available.
- Withdrawals have a security hold, and can only happen on weekdays after a 24 hour delay (this may not be a con if you enjoy the extra security)
- It’s centralized vs. decentralized — need to trust they are doing what they say they are doing.
What do others use and what is your experience with it?