ZenDCA is an application for automatically buying or withdrawing digital currency. It helps users to leverage dollar cost averaging (DCA) investment strategies in their repeat purchase plans. It also helps users keep their cryptocurrencies safe by withdrawing them from exchanges (not keys or coins).
I first heard about Bitcoin in 2013, but didn’t take it seriously until mid-2017. I even had my own youtube channel to document my journey in the crypto space as I was learning. One trend that seemed clear is dollar cost averaging over 4+ years was a solid bet. Also I’ve seen a lot of alt coins disappear or lose battles against Bitcoin (e.g. Bitcoin Cash). Another thing that remaining and will always be king is Bitcoin.
It’s tough to say, but as technology evolves, it’s hard to rule out that some roles can be fully automated. However, the human touch will always be needed to form an opinion on current events (political, global, environmental, etc.) In the end no one really knows what will happen in the market, but utilizing true and tested methods (whether automated or manual) is usually a safe bet.
Integrating with the exchange APIs was slighly tricky, especially for Binance US. However, what we got hung up on the most is the UI/UX experience to make sure it’s seamless for the user.
The main issue was communicating the value properly to let people know about fee savings and why it’s a good idea to withdraw from exchanges. Also, it’s tricky to get people to justify using ZenDCA to save on fees when DCA-ing instead of just using the recurring purchase feature on the exchanges.
Since Bitcoin’s inception in 2009, the true and tried method, when utilized for 4 or more years has been dollar cost averaging. Of course if someone can time the market, lump sum investing would beat DCA-ing any day. Since no one has a crystal ball, investing regularly, especially when automated makes it easier to have skin in the game and not guess tops or bottoms. It really helps take the emotions out of investing and help our users achieve Zen.
Yes, Kraken has been a very reputable exchange that has the highest volume of trading with euros. Their security, usability and reputation makes them the best candidate for us to integrate with. For us, it’s much more about quality than quantity when we decide on what exchanges to integrate with.
Yes,I think this goes for any investment vehicles, there will be bull and bear markets alike. The blockchain technology has been around for a while, but Bitcoin really brought it into the spotlight showing the capabilities of it for digital money. It has only gotten better since 2009 and with the some of the smartest engineers working on it, I can’t imagine it’s going away any time soon.
Million dollar question, but we’ve actually been seeing a nice pump recently. Complete shot in the dark, but I’m thinking we might be in it for another year or two, so maybe 3-6 months after next halvening. Again, complete guess and opinion, I wouldn’t be surprised at a huge pump at the end of 2023 either.
Never stop learning or asking questions. You don’t have to be the smartest person in the room, and if you are, you’re probably in the wrong room. Don’t settle for complacency or be afraid to be coachable. We’re all learning as we go, so stay curious and don’t give up. Most importantly, don’t get too hung up on failures, embrace and learn from them and learn to enjoy the journey.