How To Implement Dollar Cost Averaging Strategy In Coinbase

by | Jan 10, 2018 | Bitcoin

How To Implement Dollar Cost Averaging Strategy In Coinbase

Now that you have seen an example of dollar cost averaging, the obvious next step is how the F to do this. It may seem simple but if you try to do this manually (i.e. you are in charge of pressing the BUY button each week), you’re going to have a hard time staying consistent.

I want to show you how to implement this DCA strategy seamlessly in one of the most popular exchanges, Coinbase.  NOTE: many exchanges have this service, Coinbase just seems to be the most popular which is why I am using them.

Let’s walk through it.

Step 1: Decide on your Risk Tolerance and Schedule

Take the dollar amount you have to invest and follow a schedule based on how aggressive you want to be. The rule of thumb in the crypto market would be:

  • High risk – 8 weeks
  • Medium risk – 16 weeks
  • Low risk – 24 weeks

In other words, if you chose High Risk you have 8 weeks to invest all your money. That means over 8 weeks (give or take) you’ll invest your money evenly.

If you have $10,000, you would invest $1,250 each week for 8 weeks.

For Medium Risk, you would invest $625 each week for 16 weeks.

For Low Risk, you would invest $416 each week for 24 weeks.

This may seem like lifetime to some of you but you have to remember – the goal of any investment is to NOT LOSE YOUR MONEY. Making money is an awesome byproduct, but if you lose your money you’re losing the game.

Select your time frame and move onto Step Two.

Step 2. Set up a recurring transaction every week inside Coinbase.

Coinbase >

They make it pretty easy to do this – here’s a screenshot:

1) Pick your coin
2) Pick your Payment Method
3) Put in your USD amount (it will auto convert to your coin)
4) Click the “Repeat this buy” box
5) Select Weekly
6) Confirm!

You’re going to select “Recurring Transaction” and select “Weekly.” This means that Coinbase will automatically buy up the crypto you want each week automatically and withdraw the funds from your account.
Note: you will see different coin prices depending on the price on the day you purchase. Coinbase or any exchange will buy the market price each week so the amount of coin you buy each week will vary as well.

Step 3 – Make a note in your calendar to cancel the recurring transactions after the last week of your strategy.

You have to end this manually but that’s usually fine. Just keep a note on your Calendar so you can log in and cancel. So if you are doing 20 total transactions of $500 ($10,000 total) you want to make a note on week 19 to cancel the recurring payments so that you don’t go over your budget.

That’s it! You’ve just implemented the most effective investing strategy imaginable to mitigate your losses and capitalize on growth.

I know this seems “too easy” or even “boring” but that’s why it works – the reason why most people lose money with investing is because they think they can control their emotions better than they actually can.

A good example is Warren Buffet famously betting billion dollar hedge funds that they couldn’t beat a simple index fund of the S&P 500 over a 10 year period. He won.

It’s not about TIMING, it’s about buying in consistently.


Click here for $10 Free when opening up your Coinbase account.

How To Implement Dollar Cost Averaging Strategy In Coinbase

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