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Does anyone have a recommendation on what to do with their cash while they're waiting to buy shares using dollar cost averaging? Like, let's say I have $120, a
by asimpletune 5y ago
Does anyone have a recommendation on what to do with their cash while they're waiting to buy shares using dollar cost averaging?
Like, let's say I have $120, and I plan on buying $10 of stock per month. Is there a good way thing that you can do with the money while it just sits?
- patwolf 5y agoI've been in the same boat. I ended up putting it in a robo account with my risk profile set to be very conservative. Most of it ends up getting invested in a bond ETF under the covers, like $BND. Unfortunately with interest rates so low, it's not going to keep up with inflation. I can see why crypto is so attractive--every other "safe" investment seems like it's bound to lose money when considering inflation.
- valzam 5y agoIf you are slightly risk-tolerant you can use services like nexo or blockfi to earn interest on fiat. You don't take crypto price risk and they generally only lend out money on an over-collateralized basis, so the default risk is small.
- ac29 5y agoYou can earn interest on stablecoins, not fiat. Theres a big difference there, since the stablecoin itself has risk in addition to the risk of whatever those services do with it to generate returns.