If you start searching for the best and proven investing strategy online you might stumble apart the word “DCA”. Dollar Cost Averaging means investing/buying an asset periodically no matter if the price is up or down.
The picture below is the best example I can give you.
If enough people say it works then it is worth the time looking into it. So what did I decide to do? Try it.
Usually, when people talk about DCA they mean investing 1–4 times a month into one or various assets.
“Every 15 and 30 when I get my paycheck I will put %10 into the coolest dog coin.”
That’s great, but for someone who is looking at the market each day and got itchy fingers that strategy just doesn’t work.
I need to be doing something every day to get that rush, that feeling of moving a step forward toward financial freedom. Even though sometimes that step forward is more like a toe forward.
Either way, that’s why I tried DCA for 40 but to the extremes.
The goal was to still use the principles of DCA but to increase the number of purchases per month. So each morning upon waking up I was there on my phone looking to buy my $10 worth of Crypto.
So far I have invested $410 which is 41 days. My coins of choice have been BTC, ETH, AVAX, NEAR, and MATIC. That is not because I don’t like other projects but because I think it makes more sense to first have a good allocation in some projects before investing in others.
Below you can see each of my transactions, quantity, the price at purchase, and percentage gain/loss since the trade.
You might see some transactions be a little bit more/less than $10, that is because I was using market orders instead of limits.
I can be certain that the strategy does work.
- I have been able to decrease my hunger for investing just by buying $10 worth of crypto every day.
- My average buy prices are good because they are spread out.
- I don’t feel I am missing out because after 24 hours I again have the chance to throw a little bit more money into a project.
Now let’s take a look at my stats:
My biggest positions at the moment are BTC, ETH, and AVAX.
Below you can see how much I have made in profit versus how much I have invested in total.
Not bad! 17% gain in less than 2 months.
Some questions you might have:
Are you staking these coins?
These coins are being staked on Binance just because I like risk haha. I also have some of my Near on a validator.
I have been using Binance for years and never got an issue, plus these coins are a very small amount of my total portfolio. The rest are on a cold wallet, so no worries Bubu 😘.
If you don’t have a Binance account feel free to use my ref link:
A transaction per day means a lot of fees!?
Nope. Fees are charged per volume, not per transaction. So making 10 $100 trades is the same as doing 1 $1,000 trade.
10 x $100 x 0.01% = $0.01
1 x $1,000 x 0.01% = $0.01
Is DCA better than trying to beat the market?
Most likely yes, you and I are dumber than what we think. I’m sorry to be the bearer of bad news.
You might beat the market for some time, but not for long unless you are REALLY great at this.
Also, DCA makes things simpler. It will not matter if you buy AVAX at $17 or $22 when it hits $300.
What’s the end goal?
First was testing this to bring you this amazing content.
Second is to grow this over the bear market and see if I can 10X the portfolio when the next bull run is here 2023–2024.
If I continue with my $10 for 500–1,000 days I should get to 5–10k invested before the next “bull run”, that is if that bull run ever comes haha.
The same article but in the video version, go watch me: https://www.youtube.com/watch?v=KxbB6XkiTX8
Are you into passive income and you are looking for a nice way to track your income?
Check out my spreadsheet, you add the data and it calculates everything for you plus it has some sick graphics. 😁
Road to 10k/Month Crypto Passive Income | July Review
If this is your first time, read my intro 👇
On February 29th I started a personal challenge where I would try to build a $10,000 Passive Income portfolio starting with just $800. I’ve been investing in crypto for some time but have always had the same issue.
Being a young guy who lives in a 3rd world country, saving and investing more than $300 per month can be an impossible task.
I started dabbling into the idea that I could generate some passive income when I got into Wonderland last year. I know that most of you were only thinking about the crazy +80,000% APY, but all I could think was that I could cash out every week and create a new revenue stream to funnel it back to my blue-chips coins.
A few weeks later Wonderland crashed, but because I am always so optimistic I thought, there might be more Wonderlands out there that could make it. Maybe If I buy into 10 or 20 of them, at least 4 of them might survive and be my new revenue stream.
That’s how my 10k/month challenge started. I took some profits on some of my Luna position. $800, was my starting point for all of this.
Why 10k/Month? It’s a crazy idea, laughable. But with that goal, my brain has to think way more and be more creative with that target. 1k-2k is totally achievable, but I wouldn’t be as creative as I am now.
If you want to read my previous updates, here are the links to them:
6 Months already went by and I am still super far from hitting my crazy 10k goal. But I am still pulling some profits each month.
Thanks to the help of Grape Finance, Spring Game, and Vapor Nodes I was able to make a decent revenue this month. Below you can find a video review for each project;
Spring Game: https://www.youtube.com/watch?v=eQNuON7dav0&t=932s
Grape Finance: https://www.youtube.com/watch?v=v-ko7sWPqnk&t=14s
Vapor Nodes: https://www.youtube.com/watch?v=6jBKF1IXHCo&t=203s
If you do decide to go with these projects feel free to use my referrals;
Spring Game: Use the creator code ‘DEFICHRONICLES’ for a 2% discount.
Projects like Polar, Pirate Nodes & Ruby Mine are still paying some rewards but the amounts are so insignificant that I see these as noise.
Adding everything up I made in total $521 in passive income for the month of July.
As you can see on my chart below;
- Week 27 — $168
- Week 28 — $152
- Week 29 — $100
- Week 30 — $101
So far I have invested in Titano, Thor, Polar, Vapor nodes, Pirate Nodes, Bamboo, Spring, Emp Money, Grape, Ruby and Sphere Finance.
Some of them I think were good investments, others just trash.
Below you can see the current ROI for each project.
Ruby mine ~135%
Spring Game ~ 106.08%
Pirate Nodes ~ 28.83%
Emp Money ~17.71%
Bamboo was a rug, my node on Thor got deactivated because I did not pay the fees and I sold 100% of my position on Titano.
These are my top performers so far:
This has been a rollercoaster. But I am glad I decided to try this, I have learned way more by doing, investing, and trying than just reading and watching youtube videos.
I know that this is highly risky, that’s why I only use play money. If I lose it all I will be ok.
I will continue searching for projects worth my time and money and grind my way to that 10k passive income.
If you want to support me, you can purchase my spreadsheet using the link below:
Or subscribe to my newsletter to keep up with everything I am doing in the DeFi space.
DeFi and Crypto can be lonely places. If there is any way that I can help you, feel free to send me an email at firstname.lastname@example.org
As always, thank you for reading,
Keep building the life you deserve. 🏗️
Disclaimer: This is not financial advice, I am just a guy with a laptop sharing his opinions and experience. This is for entertainment purposes only. Always do your own research before investing.