DCAProfit has released its new dollar-cost averaging calculator supporting dozens of cryptocurrencies. Moreover, investors can compare these results to Stocks, Commodities and Market Indices like the S&P 500 and the Dow Jones Industrial average.
The DCAProfit team takes the next step in teaching people the potential of dollar-cost averaging for their investments. DCA investing is a prominent investment strategy to spread out one’s investment capital across periodic purchases of a specific – or multiple – asset[s].
Opting for this approach helps offset the impact of market volatility one may experience with these assets. Through DCA investing, users make regular purchases regardless of an asset’s current price. It is a more favorable approach to “timing the market,” which requires luck and patience, and comes with a steep learning curve to fully understand the market. DCA investing also removes the need to make one substantial investment which may suffer from poor market timing.
Those who engage in dollar-cost averaging will often rely on a DCA calculator to measure their performance. DCAProfit has put together such a calculator for cryptocurrency enthusiasts. This calculator goes beyond supporting just Bitcoin or Ethereum, as it tracks the performance of dozens of currencies, including Binance Coin, Cardano, XRP, etc.
The DCA calculator by DCAProfit stands out in various ways. The growing list of supported cryptocurrencies is a solid reason to give this tool a try. Moreover, investors can compare their DCA performance for specific assets to investing the same amount in stocks, commodities and market Indices like the S&P 500 and the Dow Jones Industrial average.
The constant updating by the DCAProfit team will enhance the appeal of its new DCA calculator. Investors need access to historical data before beginning their DCA journey or analyzing their individual market performance. Moreover, the comparison to other established and popular markets is interesting and showcases the potential of each industry.
Dollar-cost averaging is a viable investment strategy anyone can employ. Whether one wants to acquire cryptocurrencies, investing in the DJIA, or explore gold, gauging market performance remains crucial. The DCA calculator by DCAProfit is a priceless tool to see how one’s investment can perform