The BISON crypto trading platform now enables its users to make automated investments in crypto assets.
The crypto broker BISON is now offering its customers the opportunity to set up crypto savings plans. The automated investments in an asset of choice are intended to offer beginners in particular, who are currently in the crypto space, an easy way to accumulate wealth.
The subsidiary of the Stuttgart Stock Exchange is thus offering a digital piggy bank into which a predetermined amount is automatically paid at regular intervals. Users are flexible in their investments. A savings plan with BISON can be taken out weekly, monthly or quarterly from as little as EUR 0.01. And if things get tight at the end of the month, you can simply pause payments.
Crypto investments at the average price
A popular strategy in the financial world has to do with the dollar cost average.
The average cost effect occurs when you invest an amount of the same amount over the long term. Specifically, this means that you get more shares for your money when prices fall and less when prices rise. This can be used to compensate for fluctuations in the price of a certain asset in the long term.
The above example shows how the concept can have a positive effect on the average price of an asset. With an automated savings plan, however, you not only have less work. This also keeps you away from the crypto price fever. Because when there is a real fireworks display on the crypto market – and that happens before – you run the risk of making impulsive decisions. With a savings plan that runs on its own without any input, you build a kind of protective wall. Depending on the market situation, a one-time investment can also generate a better return. So the average cost effect does not apply to everyone.
Although this protective wall unfortunately cannot protect anyone from financial loss, it does offer one thing: an automated alternative to the traditional piggy bank, with which you do not need a hammer to get your savings.
You can find out how to set up such a crypto savings plan in the BISON app in the following slideshow.
You can find more information about the BISON savings plan here.
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