How to DAI-Cost-Average (DCA) into ETH Using dca.land

Transcript

hi everyone this is d5 dad i just discovered a new defy application today that i think will be very popular uh it's called dca.land it stands for dollar cost average uh dollar cost averaging is a popular investor strategy where you put in a certain amount of money over time and you do that regardless of what's going on in the market so an example of that would be i am going to buy 70 die of eth in this case you notice there's more options coming but we're going to buy eth once per week the reason in this case that i've chosen to do that is just that if you were to buy let's say 10 die of each per day instead

you end up paying a lot more in terms of transaction fees so i just want to save on that and i'm going to pay a larger lump sum weekly and that way my transaction fees are now just 0.4 percent so the reason this is all really cool is that uh this feature is popular with centralized exchanges like coinbase and while it works really well i've used it with coinbase in the past uh the idea here of course with these defy applications is that you're always in control of your assets and you don't have to trust any middlemen now that being said this is a brand new unaudited application please proceed with extreme caution and always remember

this is not financial advice so the first thing i'm going to do uh beyond choosing how much i want to convert into eth and how often is i'm going to go ahead and enable the dap to actually move my die so that the smart contracts can execute this transaction weekly for me all right so i'm just going to double check what exactly i'm allowing dca.lan to do so you'll notice here permission i'm going to edit this it's defaulting to me allowing them to

move an unlimited amount and i would prefer to not do that so in this case i'm just going to use an example here of let's say 2000. all right and then the other thing is i've already checked the eth gas station uh if i put in a gas price of around four gwei or more the transaction should go through really quickly so looks this all looks good just a reminder if you don't check the eth gas station

you run the risk of putting in too little of gas or a lower gas price that could cause you to have a stuck transaction all right so now that i have uh unlocked the ability for dca land to work with my die i can actually kick this off and start it all right so same thing i'm going to keep the gas price around five again if you're not familiar with gas price just a reminder that if you lower this the transaction will still go through in this case it's just that i save a little bit so i went from 26 cents to 20 cents of ether

all right so i'm going to hit confirm [Music] and that is it so uh if you want to try out dca dot lan just go to dca.land again please be cautious in what sort of money you put into this or how you test this you can assume that anything you put into this you can potentially lose all of it just because it's brand new and it's unaudited and uh you'll notice here that now that my transaction has gone through i can log into this application using my metamask wallet

and then i'm able to ultimately see uh when my transactions are going through so in this case it's going to buy some eth with my 70 die in five minutes and then uh it'll be 168 hours between then and the next purchase which is again one week and then if i ever want to pause it i can come back here and ultimately hit pause so that's it let me know if anyone has any questions and hopefully this is helpful