After a week of watching the zcoin price Matt and I decided to finally make purchases. I made my initial purchase of roughly $1150.00 at 0.00405120. This is not where I want the price to be but not much I can do about it. I was able to get 30 xzc. On my way to 500 total.
The next night bitcoin’s price is at $9660. I decide to buy all the bitcoin I can and place buy orders for zcoin.
I looked at the current prices (bid, ask, 24 high, 24 low) and made notes at what prices I would like to buy at. I then put my bid price in, decided how many units I wanted to buy. Left type the same so it will stay until filled or I cancel it. Then I clicked buy zcoin. That’s it.
Once my order was submitted it showed in the order book. My order has a star by it so I can see where I am in line.
I did a total of 6 orders. The reason for this dollar cost averaging. Dollar cost averaging is something you will want to do when investing. You won’t do it all the time but it is a good practice.
Let’s say you have $500 and you want to invest in bitcoin. You could just buy it all at once, but what if the price falls dramatically the next day. If you had money left you could of bought more at a lower price. There is also the chance of the price going up, which would work in your favor.
My open orders are shown in…..the open orders section. Crazy I know. This is what it will look like. All of these screenshots are on the same webpage in your bittrex exchange. It is important to familiarize yourself with all of the different section. Now let’s hope all of my orders get filled at the prices I want.