With the price of BTC going up, so does the minimum limit order on GDAX, which is .01 BTC. My bi-weekly DCA is less than .01 BTC (BTC is $9692 right now). In fact I’ll have to wait 3 cycles…if I can even keep up with that requirement. Should I buy ETH or LTC (also .01 ETH or .01 LTC minimum limit order) and stuff it in my exodus wallet to exchange it for BTC right away, or just do a market order for BTC and pay the fees? Fees, fees, fees. I’m still working on my ticket, so I’m all about just getting my BTC right now.
If you can buy on GDAX you should be able to buy on Coinbase and Coinbase doesn’t have a limit that I am aware of but you do have the 4% fee.
I would say use coinbase on the weekly auto pay. The fees will be insignificant with the growth.
We hate fees, but you’ll hate missing profits even more.
Also, if you want extra justification, since you can predict prices anyway… Buying at $9700 with a $20 fee and buying at $9720 are relatively the same thing right?
Bitcoin (BTC) and Bitcoin Cash (BCH) have been getting all the attention the last three months, but take heart. Buying into Litecoin (LTC) instead of Bitcoin can certainly be a winner. Over the last three months, Bitcoin has barely outperformed Litecoin while BCH and XMR (Monero) and DASH have all outperformed Bitcoin over prior three month period.
Etherium and Litecoin have been trading somewhat sideways for a few weeks now, so they’re finally showing some breakout action, especially as something like 30,000 new Coinbase accounts a week (or was it a day?!?) are being created by first time crypto-buyers who immediately see their first choices as BTC, LTC, and ETH. That means, to me, that both of these coins will show continued potential to grow significantly and you can hardly go wrong buying into either ETH or LTC as a means of working towards your BTC holdings.