How often are you exchanging fiat dollars for BTC in your DCA plan?
Daily? Weekly? I want to make sure my plan is not dumb...
Make sure that you have a plan to consolidate your funds regularly (when transaction fees are low).
If you're doing daily or even weekly DCAs, you'll end up with a whole lot of little chunks of bitcoin (UTXOs). People have mentioned UTXO management in some of the comments but in case you don't know what that means:
Each chunk that you purchase is a UTXO. By the end of the month, you'll have 30 smallish UTXOs - imagine a wallet full of $10 or $20 bills. Anything you want to do with those bills later will cost you PER bill - so it's best to combine them into one large $600 bill when you can.
Fees are relatively low now, but they're likely to go way up in the future. If you have $19 in fees for every $20 bill, that would really suck.
If you're doing daily or even weekly DCAs, you'll end up with a whole lot of little chunks of bitcoin (UTXOs). People have mentioned UTXO management in some of the comments but in case you don't know what that means:
Each chunk that you purchase is a UTXO. By the end of the month, you'll have 30 smallish UTXOs - imagine a wallet full of $10 or $20 bills. Anything you want to do with those bills later will cost you PER bill - so it's best to combine them into one large $600 bill when you can.
Fees are relatively low now, but they're likely to go way up in the future. If you have $19 in fees for every $20 bill, that would really suck.
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