What are some popular strategies for purchasing bits at a lower price?

3 answers

• Dec 17, 2021 · 3 years ago
  One popular strategy for purchasing bits at a lower price is to take advantage of market dips. Cryptocurrency prices can be volatile, and there are often periods of time when prices drop significantly. By monitoring the market and buying during these dips, you can get bits at a lower price. However, it's important to do your research and make sure you're buying from a reputable exchange to avoid scams or security risks.
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• Dec 17, 2021 · 3 years ago
  Another strategy is to use limit orders instead of market orders. With a limit order, you set the maximum price you're willing to pay for bits, and the exchange will only execute the order if the price reaches or falls below your specified limit. This allows you to potentially buy bits at a lower price than the current market price. However, there's no guarantee that your order will be filled if the price doesn't reach your limit.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we recommend using dollar-cost averaging as a strategy for purchasing bits at a lower price. This involves investing a fixed amount of money at regular intervals, regardless of the current price. By spreading out your purchases over time, you can reduce the impact of short-term price fluctuations and potentially buy bits at a lower average cost. This strategy is particularly useful for long-term investors who are not concerned with short-term price movements.
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