Blog: Benefits of monthly savings
Monthly savings is an easy and effortless way to start saving for the future. Regular monthly savings offers several different benefits, such as a way to spread your investments over time. The purpose of this text is to tell the reader about the benefits of monthly savings and how monthly savings in cryptocurrencies is possible in Northcrypto’s service.
What is monthly savings?
Monthly savings means that a person systematically saves the amount of money they want for several months. Savings can be made to any destination you wish, such as cryptocurrencies. At its simplest, regular monthly savings are the easiest way to start investing.
The benefits of monthly savings materialize even with smaller amounts, and the amount saved monthly does not have to be enormous. With the help of regular monthly savings, it is possible to increase your investment amount to a large investment capital over time.
For the benefits of monthly savings to materialize, monthly savings must be regular. Time is everything in monthly savings. The earlier you start regular monthly savings, the more you will benefit over time
Benefits of monthly savings
Monthly savings in cryptocurrencies allow the investor several different benefits, which will be discussed next.
Perhaps the most significant benefit of monthly savings is risk diversification. Monthly savings provide an excellent way to diversify your investments over time. With the help of monthly savings, it is possible to reduce the risk due to exchange rate fluctuations.
By investing regularly every month, exchange rate fluctuations change from threats to opportunities. As prices fall, you get significantly more with the same amount you invest each month than when prices rise. As prices turn upwards, investments made during price declines become highly profitable.
Exchange rate fluctuations in cryptocurrencies can be very strong, even in the short term. The risks associated with exchange rate fluctuations are most comfortable to manage with regular monthly savings. If the strong exchange rate movements of cryptocurrencies and the timing of purchases are worrying, regular monthly savings provide an excellent solution to the problem.
Monthly savings spread purchases over the long term. In this case, the investor does not have to stress about the correct timing of purchases. With monthly savings, the average price of monthly purchases is determined by the longer term. There is no need to worry about the high volatility of cryptocurrencies on the average investment rate. Monthly savings are an excellent way to manage the risks caused by strong exchange rate fluctuations.
Monthly savings can also be automated. In this case, a predefined amount of money is automatically transferred from your own account to the selected investment each month. Automating your monthly savings allows your monthly savings to be automatically transferred from your account to your savings. Without automated monthly savings, the risk of spending money on something other than monthly savings would increase significantly. Also, automating monthly savings makes investing more effortless than ever before.
Monthly savings at Northcrypto
Northcrypto enables its customers to start fully automated monthly savings in cryptocurrencies. With fully automated monthly savings, anyone can buy cryptocurrencies easily and effortlessly.
In the Northcrypto service, you can set up your account to make automatic purchases when you make a deposit. Automatic purchases are made on the service at the current rate when the deposit is credited to your account. If you wish, you can set a recurring payment in your online bank and start saving monthly in the cryptocurrencies you choose. Once the deposit has arrived at our service, the system will automatically purchase the cryptocurrencies you have selected, and you don't have to do anything. After completing your purchase, we will send details of that purchase with a message to your provided email address.
You can start automatic monthly savings by clicking the user icon in the main menu at the top of the page and selecting My account. After that, you will go to a page where you can see the currencies you own and, if you want, you can start automatic monthly savings on the same page. You can begin monthly savings by clicking the green Add new automatic buy -button. Saving in cryptocurrencies has never been easier.
Mikko Soon
Cryptocurrency specialist
Last updated: 09.02.2023 12:33
