There was a post today showing a notifications list of $2.50 hourly buys on Strike. The comments were flooded with people screaming about how OP was getting screwed on fees (there are none buying on Strike), or if they had more than two braincells assuming that OP was getting screwed on the spread.
I've also been buying hourly on Strike, though for quite a bit less than the other guy. I have had $0.50 hourly buys going since Dec 10th, and yesterday I upped it to $0.60. I have been monitoring the buys and comparing the price I paid to the current spot price and found it's usually $50 to $100 higher (~0.1-0.2%). But that's just me randomly checking it, not real data, so today I bring you some real data.
I took the high/low data from the minute chart on Binance and calculated the hit I took on the spread. As you can see the average "fee" I paid is 0.12%. There was one buy where the cost was much higher than the others (5:34 AM), but for the most part it's pretty consistent.
The data is a bit imperfect since Binance is probably not the source that Strike uses to buy your BTC, but I think it's safe to say it's close enough.
Personally I really like the hourly recurring buys. It takes the guesswork out of trying to time your buy on a dip, or getting FOMO when it is pumping. You really do get a true average.
Don't @ me about recordkeeping either. It's really not a big deal. If you can't handle it then don't do it, but don't assume everyone else is as dumb as you.
Edit: Also withdrawals are free.
Submitted December 23, 2021 at 04:18PM by Cats_n_Porn https://bit.ly/3qoewnx
No comments :
Post a Comment