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RE: START MISSION POWER UP - Selling my cryptocurrencies to invest in Steemit!
Great post! If you are buying and selling large values of cryptocurrency I would consider Dollar-Cost Averaging to minimize the effect of market fluctuation. Essentially, you buy/sell the same dollar value every day, regardless of price, over a long period.
Example, if you wanted to buy 5,000 STEEM (about $15,000) to power up then you would buy $1000 worth of STEEM each day over 15 days. The average price per STEEM would be the average daily price over that period.
It is approximately what I want to do, in the long run take advantage of the favorable moments to be able to collect more STEEM possible at the lowest proportional cost.
This by exploiting the differences in value between STEEM and the other crypto I own.
Thanks Samuel :) I am thinking about converting some of my crypto over to Steem ( A relative beginner, first bought crypto in November) I'll definitely dollar cost average when I go for it :) Only a minnow, but you have my upvote :)
Good idea, we can grow one step at a time :).