The Blocktrade team is excited to begin 2023 with a new release – Blocktrade 2.3!
Blocktrade 2.3 offers a variety of new and improved features. One of the main highlights of this update is the introduction of the “Recurring investment plan” that allows you to buy your preferred cryptocurrencies automatically on a daily, weekly, or monthly basis. Another significant update is that Apple Pay and Google Pay are now available on Blocktrade platform. You now have a bigger variety of payment methods, which makes your crypto investing experience more convenient.
Recurring Investment Plan
The recurring investment plan is a new feature that many Blocktrade users have been waiting for which brings ease and consistency to investing. As we know, the term “bearish” has been used more frequently for the past few months to describe the state of both traditional and crypto markets. It means that we are experiencing a bear market now, as the market has been in decline for an extended period.
For investors, this market condition may raise questions about whether they should continue to invest in these markets. The answer is yes! A bear market can be a great opportunity for investors to explore various investment strategies that can generate long-term value.
One of the most popular strategies that can be particularly beneficial during a bear market is “dollar-cost averaging” (DCA). The idea behind DCA is to consistently invest a fixed amount of money in an asset, regardless of market conditions. DCA is very simple and accessible for investors of all levels, as well as suitable for any budget size. It can help investors to remove the emotion of investing and help avoid the pitfalls of buying assets at high prices and selling them at low prices.
If you’re interested in trying out the dollar-cost averaging strategy, there are three steps you’ll need to take. First, determine how much money you’re willing to invest. Second, decide how often you’ll be investing. And finally, consider what assets you’ll be investing in.
Here’s an example of using the DCA strategy to buy €100 worth of an example token (ABC) every month, we simplified the number for a better understanding of the concept.
| Date | | Example token (ABC) price | Amount of ABC token you bought |
| Nov 1, 2022 | €300 | €300 | 1.00 |
| Oct 1, 2022 | €300 | €360 | 0.83 |
| Nov 1, 2022 | €300 | €200 | 1.50 |
| Dec 1, 2022 | €300 | €280 | 1.07 |
| Jan 1, 2023 | €300 | €220 | 1.36 |
| Feb 1, 2023 | €300 | €380 | 0.79 |
| Total | €1,800 | Average price: €290 | 6.56 |
Now, let’s calculate together
Let’s say you wanted to invest €1,800 in Example token (ABC) over 6 months, but instead of investing all at once, you decide to invest €300 each month, no matter the price of the token.
During the 6 months, the price of ABC token fluctuated between €200 and €380. By using dollar cost averaging, you were able to buy more tokens when the price was lower and fewer tokens when the price was higher, which helped to even out your overall cost per token. In this case, your average cost per token was €290.
With the dollar cost averaging strategy, you ended up owning 6.56 ABC tokens, which is 0.56 more than if you had invested your full budget of €1,800 in October when the price was €300. This additional gain is because you were able to buy more tokens when the price was lower.
Assuming the current price of ABC token in February is €380, now let’s compare two options in profit
Buy in October : (6 * €380) – (€1,800) = €480 in profit
DCA strategy : (6.56 * €380) – (€1,800) = €689 in profit
Using the dollar cost averaging strategy, you gained an additional €212 in profit compared to if you had invested all your money at once in October.
Google Pay and Apple Pay
One more great update is that new payment options were recently added, so now Blocktrade has Google Pay and Apple Pay! This is a major achievement for our team, and we are thrilled to offer these convenient and secure payment methods for our customers to make the deposit and investment processes easier.
These payment options not only provide an easy and seamless experience for our users but also offer added security through their advanced fraud protection systems. With Google Pay and Apple Pay, our users can be sure that their financial information is safe and secure while using our platform.
The addition of Google Pay and Apple Pay is a big step forward for our platform, and we are excited to see how it will benefit our users. Thank you for choosing Blocktrade, and we hope that these new payment options will enhance your experience with us.
