Marco has been involved and invested in the crypto market since 2014. He has been sharing his accumulated knowledge on the German-language blog and YouTube channel Kryptokenner since 2017. Marco is a Bitcoiner and has visited various Bitcoin conferences and the Bitcoin country El Salvador several times. Nevertheless, he is not closed to other altcoins, such as Ethereum, which he believes are just as relevant as Bitcoin.
Carlos began his journey with cryptocurrencies at the end of 2019, and with Marco's help he started to get interested in the technology of Web 3.0 and its different projects. Carlos has participated in several conferences where he has strengthened his interest and admiration for Bitcoin, as well as his interest in projects of different altcoins, which he sees as having the potential to create an Internet with greater transparency and interoperability.
As early investors in bitcoin and cryptocurrencies, we have witnessed pretty much every event - good or bad. The coming and going of crypto exchanges, investing and speculating in ICOs from 2016 to 2018, the hype around meme coins, DeFi, NFTs and more.
Very few coins and assets have stuck around and caught on. Passive investing has never been possible in the crypto market - except in Bitcoin in retrospect. The industry has moved far too fast. Much was promised in whitepapers and then not delivered. Shitcoins? Yes, most have earned that term, even if not all were designed to be a "scam."
And yet, there are a few who have made a lot by timing their crypto asset investing right. It's probably more luck than skill.
With Marco investing in many projects, he was aware that it was speculation and finding the right time to sell was an everyday task. A plan for buying and selling had to be made. When is the best time to buy? When is the best time to sell?
Following trading patterns? No, this is total nonsense. Listening to the analysis of "experts"? Difficult, because many have conflicts of interest, having invested in the project themselves.
The website "What Bitcoin Did" by Peter McCormack had an interesting approach. Buying and selling at fixed-defined price increases (e.g. Sell 10% of your Bitcoin when the price increases by 25%). All of this is captured in an Excel spreadsheet. Sort of dollar cost averaging, but for both buying and selling.
I was determined to buy and sell my crypto holdings using this strategy as well. With this strategy, I didn't buy at the local peak and I was able to "lock in" the gains on the way to the unknown peak of the bear rally. Because the price collapse comes furiously and reacting to it is impossible.
In theory, this all sounds very good. The problem? I didn't do it because I thought I knew better! Because of the rapid price increases, FOMO set in. I kept buying more and more unscheduled. In the process, I sold nothing at all on the way up, as initially planned, because I thought to myself "If I get out now, I'll miss the next doubling of the price in the next few days" and "the price has to double 3 more times, then I'll never have to work again".
I completely threw out my strategy and traded with a lot of "gut feeling".
"Next time, do it right and follow your strategy!"
Automation. At the time, there were hardly any automated savings plans on crypto exchanges. Only Coinbase had offered a completely overpriced service. Now there are many providers, but the fees are still higher than when trading on the crypto exchange itself. There are hardly any providers charging below 1% per trade.
An automated trading tool that takes advantage of the low fees and large number of cryptocurrencies on a crypto exchange. There are quite a few trading tools (and trading bots) out there. Unfortunately, many of them are designed to be very technical or are meant for professional traders and are thus very expensive.
With the cryptoDCA trading tool you can buy your coins in a very user-friendly way using your favorite exchange. You can rely on the security and infrastructure of the exchange.
The functions in detail: