Buying 150 USD of Bitcoin every month for 3 years.

Bart Eggermont
3 min readApr 27, 2021

--

Four years ago, around mid-2017, I found out about bitcoin. That was the period just before the last bull market and everything was going up. Much like the bull market that is taking of about now.

I learned “trading” from some friends and dove right in. Bitcoin was valued at around 2000 USD at the time. I put in 1000 USD for around 0.5 Bitcoin and managed to trade that up to 6 bitcoin with massive leverage. Which is really not that hard in a market that keeps going up. Early 2018 that changed when everything crashed and I, the smartest trader ever, got liquidated.

At current prices, this would have been over 300.000 US dollars

Bild von Gerd Altmann auf https://pixabay.com/de/

Then the bear market started and the hype slowly dissipated. For me, this was the time to dig deeper and come to understand the revolution that this technology represented. I realized that Bitcoin and cryptocurrencies were not going to go away any time soon. So how could I make sure I did not lose all my bitcoin as I did the year before?

DCA or Dollar-cost averaging was the answer.

My answer was to buy a little bit every month instead of one chunk all at once. This allowed me to do two things:

  • Not really notice the amount of money I spent so much
  • Ride the volatility and minimise that effect

I had quit smoking and I just rounded up the amount I had been spending anyway and in the beginning, just considered it as lost. I set up an automated wire transfer to my crypto exchange here in Switzerland at the end of the month and sent over 150 CHF (which is about the same in USD).

Over that time, since 28.05.2018, I have invested 5250 USD and no longer consider them as lost. I now own 0.73 Bitcoin and hope to join the one coiner club someday.

In the chart below you can see:

  • My investment in green,
  • What it would have been as gold in yellow
  • Bitcoin in orange.

So my cigarette money turned into around 40,000 USD which is a 660% profit and gold would have made a 15% profit.

It is not too late to start

My advice to all is to take a little bit of cash money you can spare and put it into this new asset every month and forget about it for a few years. This does not need to be thousands as can be seen here in my example. I fully expect the value of Bitcoin to drop along the way but also am fully convinced that if we look back in 10 years we will all be very happy.

It is time to get off 0!

For me, this is a practice I will continue till my retirement which is in roughly 20 years, or until I can retire from the interest that my crypto is providing me every month. This is a newish development that is slowly coming to the cryptocurrency scene and is allowing for decentralized or semi-decentralized yield. But that is a matter for another post so follow for more and find out…

--

--

Bart Eggermont
Bart Eggermont

Written by Bart Eggermont

Cryptocurrency fan and private investor since 2017

No responses yet