Good day,
Today we will be talking about Accrue, when you think about buying a particular thing, the first question that should come to your mind is the price, how much does it cost? The second question is, will buying at this price allow me make profit subsequently?
These two questions are the primary sources of anxiety when it comes to investing, you buy in on an investment at a low price point aka The Dip, and right after you buy, the dip dips even further, this leaves an investor with the biggest question of all “When exactly should I buy?”
Over the years, investors have come up with various strategies to figure out exactly when to buy, however for today we will be focusing on a strategy that has been proven to work for risk averse people who are investing in volatile assets like stocks or cryptocurrency, this strategy is called Dollar Cost Averaging (DCA), if you plan on investing $500 in a particular stock or coin, instead of investing the entire $500 and developing anxiety over how the price of the asset affects your lump sum investment, you can spread out your $500 across 5 weeks and buy $100 worth of Bitcoin every week for 5 weeks. This way regardless of what the price of Bitcoin is in 5 weeks, you have bought the asset at different price points to hedge against price volatility.
Think of Dollar Cost Averaging as being in a relationship with the market, in order to avoid see finish, you spread the exciting things about yourself (your money) at various points in the relationship (hedging), that way the market never sees enough of your qualities to arrive at see finish, in the end you still retain your mystery and respect.
In today’s newsletter, we will be talking to a founder who has built a product that helps you buy in on cryptocurrency and stocks, using Dollar Cost Averaging.
Today we will be speaking to Adesuwa Omoruyi, she is a Co-founder/CMO at Accrue and she currently works as a Product Marketer at Buycoins. She really loves growth marketing. For her, there is just this thrill that comes with thinking and working on ways to grow products/customer base.
What is Accrue:
Accrue is an app that provides users with an easy and convenient way to invest in Stocks, Crypto & USD, using dollar-cost averaging.
How was the idea for Accrue sparked?
Was having a conversation with Zino -the CEO of Accrue- a few months ago, and he mentioned an idea that he had to create a platform to help people invest using dollar-cost averaging. I thought it was a fantastic idea because many people hold back from investing because they don’t know when to buy their favourite assets. I love that Accrue lowers the barrier to entry when it comes to investment.
I got more excited about it after speaking to a couple of people who also had this problem; they were so excited to hear that a product like this would exist months down the line
What propelled the team to start building Accrue?
I’d say that we wanted to solve a problem and do something interesting. At least that’s what got me interested.
Was Accrue a side project at any time? Or did you always believe it would take off from the first day?
Yeah. When Zino mentioned it, he asked if I’d like to work on that, and I was excited to. I was working at Buycoins at the time; I still work at Buycoins.
About believing it would take off, I’d say I hoped it would because I found it very interesting. Random people I mentioned it to were excited about the idea too, this somehow kept reinforcing that we were doing something worthwhile.
How exactly does Accrue work?
Accrue helps users invest using dollar-cost averaging as an investment strategy. Many people don’t always know when to buy assets, so you reduce the impact of volatility by spreading your purchase over a range of price points.
An example of this is setting up a plan on Accrue to buy $5 worth of Bitcoin every week for one year. Since there are 52 weeks in a year, the lump sum purchase would have been $260, but you don’t know if after that lump purchase, It’ll become a bear market but if you use DCA, you will reduce the level with which volatility will affect your investment.
The truth is, you can be lucky, and the market never dips again after a lump sum purchase, but since you don’t know that, this method works for risk-averse people who don’t have so much knowledge about the best purchase time. You can try out our time machine here.
What is the most satisfying part about building this product?
The most enjoyable part is that I love what we’re doing. We all do. Something I find thrilling is that we get to build from literally zero users. I’ve looked forward to being on a project that allows me to do this. I find it exciting because there’s a lot of room to experiment.
You can check learn more about Accrue by clicking on this link. Accrue is also running a beta program, the app is currently not available to everyone yet, so if you want to get early access, scroll to the bottom of the website and type in your email address.
Here at Ivory Finance we believe everyone should have the opportunity to build wealth, regardless of your income bracket, with Accrue you can start building wealth with as little as $3 monthly.
If you have any questions or concerns you can reach out to the Accrue Team with this link.
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Have an awesome week, moisturize, stay hydrated and mask up!
Regards,
Kenechukwu Eze (Co-Founder, Ivory Finance)