Investment applications have become indispensable and open many doors for those looking for a variety of investment opportunities. Self-investing apps are ahead of the curve, offering simplicity and ease of use for digital asset investors of all sizes, especially those who want to take advantage of one of the most popular investment strategies of all time: dollar cost averaging.
Fortunately, for investors who want to gain access to digital assets, there are also bitcoin self-investment apps that allow you to invest in bitcoins at an average dollar price.
What is the average cost per dollar?
Dollar cost averaging is a simple investment strategy that involves regularly putting a fixed dollar amount into an asset or fund to build wealth over time.
Warren Buffett, Dave Ramsey and hundreds of other investors have endorsed this method. The concept revolves around patience and the constant flow of money into investments like ETFs or mutual funds.
If you enjoy investing six to eight hours a week, do it. If you don’t, the average dollar in index funds. – Warren Buffett
If an investor regularly invests once a week in an S&P 500 ETF with a return of about 7-9% per year, he will not be a victim of market volatility because the purchase price will increase on average during these periods.
Automatic interval investing means you don’t have to spend time following the markets and figuring out the best time to buy and sell.
How does it work?
Automatic bitcoin investing follows exactly the same process as the average dollar put into an ETF or mutual fund.
For example, let’s say you want to invest $100 in bitcoins every week. If the price of the digital currency drops, you can simply buy more bitcoins with your $100. If the price goes up, you buy less bitcoins with your weekly investment. This approach allows you to average the value you pay for bitcoin over time.
Because the price of bitcoin can fluctuate wildly, you may buy the digital currency at a high point and then see the value drop again. You can also sell your bitcoins assuming the market has peaked, then find bitcoins and make a tangible profit in a short time.
The Bitcoin DCA app connects to the user’s bank account and periodically withdraws a set amount and deposits money in Bitcoin, allowing the user to stack sets (i.e. invest in Bitcoin) on autopilot.
Automatic investing allows people to invest passively without lifting a finger, and anyone can set it up in minutes. The (potential) payment is earned over a longer period of time.
Apps DCA Top Bitcoin
Several bitcoin investment apps allow users to set up periodic investments in digital assets. Bitcoin Market Journal has compiled a list of the best apps for passive crypto investing.
| Items to be evaluated | Description | Start of year | CEB fees | Minimum investment | Fiduciary valuation | Twitter user | Assessment |
|---|---|---|---|---|---|---|---|
| BullBitcoin | BullBitcoin is an online trading platform designed specifically for Canadians. The exchange allows users to buy, sell or spend bitcoins through the platform. It is important to note that BullBitocin only offers daily deposits and users must have their own BTC wallets. | 2015 | 0.5% – 1.25% Bitcoin forgery fee | 10 | 4.6 | 13100 | 4.5 |
| Independent reserve | The independent nature reserve was established in 2013 in Sydney, Australia. IR offers users a variety of tools, including self-investing, OTC markets and educational resources for Australians who want to learn more about the blockchain industry. | 2013 | The rates depend on the volume and vary from 0.05% to 0.55%. | 50 | 3.8 | 6121 | 4 |
| Bitaru | Bitaroo aims to be a bitcoin-only exchange, offering users one of the best entry platforms for those who don’t want to invest in digital assets. They will expand to DCA accounts in 2020 and promise extremely low rates combined with a user-friendly interface. Bitaru is a 100% Australian company, designed specifically for people living in Australia. | 2018 | From 0% to 0.19%. | 10 | 4.5 | 1298 | 4 |
| Swan Bitcoin | SwanBitcoin, a project launched in March 2020, offers a simple and easy way to set up recurring bitcoin investments. The interface is very user-friendly and guides the user in a clear and concise manner when setting up weekly deposits. The application is available to everyone in the United States except New York City residents. | 2020 | SwanBitcoin structures its costs based on the amount invested per week. Investors can pay up to 0.99% or up to 2.29%. | 10 | 4.5 | 19500 | 4 |
| Relay | Relai is based in Switzerland and does not require its users to create an account or register through KYC, making the process incredibly quick compared to other apps. Relai has only been on the market for a short time, but has already seen significant growth in the number of users, especially in German-speaking countries. | 2019 | 3%, 2.5% with the reference code | 10 | 4 | 2684 | 3.5 |
| CoinCorner | CoinCorner is a UK-based platform with over 200,000 users. Like many other digital asset investment apps, CoinCorner initially launched its platform with buy/sell features only, but it gradually introduced automatic investing so users could get an average value of bitcoins in U.S. dollars. | 2014 | CoinCorner has a fixed fee structure for self-investment. Costs range from 2 GBP to 1% + 1 GPB. | £10.00 | 3.3 | 6758 | 3.5 |
| Coinbase | Coinbase has established itself as one of the most popular and convenient exchanges in the world. The trading platform offers recurring investments on a daily, weekly, biweekly and monthly basis for all digital assets supported by the exchange. Investors in the United States, Canada, the United Kingdom and Europe can access and use the platform. | 2012 | The range of fees depends on the amount and the jurisdiction. The base rate in the United States is 3.99%. | 2 | 2 | 2100000 | 3.5 |
| CashApp | CashApp, a mobile payment service developed by Square Incorporated, has long been used for peer-to-peer money transactions. In February 2018, CashApp expanded its business to include bitcoin trading and, later, self-investment. If you live in the United States of America, you can set up automatic bitcoin purchases that occur daily, weekly or bi-weekly. | 2015 | CashApp charges a fee of 1.76% for bitcoin transactions, both buying and selling. | 10 | 1.7 | 1200000 | 3.5 |
Should I use the Bitcoin self-investment application?
Over the past decade, barriers to entry for investment in digital assets have gradually disappeared. What was once considered a taboo investment in virtual currencies has now changed the way we think about money.
Self-investing apps can be the most convenient way to start investing in digital assets. Minimums are usually very low or non-existent, and opening an account can be done in as little as ten minutes.
If investing is new to you, self-investment apps offer the perfect balance of education and experience. They allow users to learn about their investments by depositing a few dollars to see how it works in real time.
Supplement
If you believe in the future of bitcoin and want to build massive positions, bitcoin self-investment apps offer the perfect way to do so. These apps make it easy for you to earn bitcoins automatically, without any effort, so even people with little or no investment knowledge can become bitcoin investors.
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