0 sats \ 4 replies \ @sudonaka 12 Jun 2023 \ parent \ on: Switching to Strike from Coinbase. bitcoin
Why would you keep hold of Fiat when you could trade it all whenever you have it available for Bitcoin? Lump sum is better. Don't miss the big gain days. When you have extra fiat money for savings, trade it for Bitcoin immediately and withdraw asap.
I get sometimes get paid in fiat and sometimesneed to pay in fiat. So I still need a bridge.
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Same here, that's why I say just what you want to save.
I have it worked out in budget:
- Incoming Fiat pay
- Fiat bills (hold fiat)
- Refill Emergency fund (hold on lightning for quick conversion, or hold fiat)
Anything other than that trades for cold storage in lump sums.
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I used to do this. Just ape in as much as I can when I can. Did it for years. I don't really think any one method is that much better than the other at the end of the day because it seemed to me had I done DCA instead it would have been about the same. I decided to start DCA instead because it gives me a chance to spend my fiat for immediate unexpected needs that might pop up week to week that I don't have if I lump sum it. It just allows me to adapt more dynamically as my needs change in a financially tight situation.
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Fair, for me I think emergency fund helps that situation, held in fiat or lightning.
keep it topped off for those unexpected expenses-
and keep enough fiat for fiat bills-
then everything else cold storage.
this way the dynamic thing each month is extra Bitcoin, not extra fiat.
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