Crypto survey reveals lazy investors are the best investors
The bizarre secret to making money in crypto has been unveiled and it’s very simple – be a lazy investor.
Following the release of 2021’s investment performance results, Australian micro investment platform Bamboo is calling on users to trade less and set and forget their portfolio.
Bamboo CEO, Blake Cassidy says after reviewing the platform’s user performance in 2021, a pattern emerged.
Mr Cassidy suggests crypto investors consider removing cryptocurrencies from their watchlists in order to avoid temptation and market-induced anxiety.
The winning strategy for Bamboo users is doing less.
“We like to say the best investors are dead investors because they never touch their assets in volatile times like what we’ve seen recently.” Mr Cassidy said.
“So what we are suggesting is for users to tune out of the crypto noise so they don’t feel the temptation to fall into a trading trap.
“We’ve run the numbers and average return in 2021 was 66.22% for Bamboo users that dollar cost averaged without trying to make trades,” Mr Cassidy said.
“Interestingly, those who tried trading were outperformed, averaging 58.55% returns, and those who opted for a combination of both performed the worst at 56.22% for 2021.
“Many investors think more time and effort equals a better return, but what we have seen is investors who did their due diligence upfront and put their crypto investment on auto are reaping the rewards.
Bamboo is an effortless micro-investment platform that encourages dollar cost averaging as a way to gain exposure to cryptocurrency to help navigate volatility.
The platform offers Australian investors the simplest access to digital currencies like Bitcoin and Ethereum.
Bamboo user Troy Riordan has made the commitment to minimising their interaction with crypto content online, even installing a content filter on their browser as a means for staying diligent.
“When I first took the plunge and bought into crypto I was faced with genuine anxiety, wondering if the price would drop by half overnight, but over time I understood that crypto was a volatile asset and developed a strong long-term investment thesis,” said Troy.
“There is so much noise on what is surely the world’s most talked about asset, so taking crypto off my watchlist and blocking any mentions of crypto when on the internet has been a breath of fresh air.
“It’s a bit like putting on a set of blinkers.
“Each week my auto investment goes into Bamboo, and I get a real sense of satisfaction in being able to stick to my long-term investment plan without that constant temptation to cash out at a bad time,” said Troy.
Troy made the decision to commit to a pure fortnightly dollar cost averaging strategy in 2021 of $100 every other week.
Troy believes adopting a set-and-forget approach has been a win-win decision for him.
“Now I spend less time thinking about crypto, don’t experience the constant worry I used to, and am achieving better returns. So it’s literally a no-brainer as far as I’m concerned.”
