7 Ways to do Automatic Recurring Bitcoin Purchases in 2020
Automatic recurring Bitcoin purchases or simply dollar-cost
averaging (DCA) is an investment strategy where investor divides up the
total amount of purchases across a range of prices & timeline in
order to reduce risk and impact of volatility on overall investment.
Whether it’s because you have some extra income every month you feel
okay investing with, or just because you are not very keen on following
the price every day or both. This type of investment behavior is highly
useful for a lot of people especially for anyone that wants to have some
skin in the game but is still new to Bitcoin.
Recurring purchases of BTC can be done on a weekly, bi-weekly, or
monthly basis. And since recurring buying happens without you having to
think about it, it’s making sure you will eventually have a nice stash
of Bitcoins no matter what happens with the price.
The process to get started with recurring purchases goes like this:
- Sign up on one of the platforms below.
- Verify yourself, and link your bank account.
- Choose to buy Bitcoin weekly, monthly, or with every paycheck.
- That’s it! Bitcoin gets delivered automatically to your wallet.
Lets now look some of the best places where you can do recurring Bitcoin purchases in 2020.
Page Contents
- Crypto.com – Available Worldwide
- Coinbase – Available Worldwide
- Gemini – Available Worldwide
- Coinmotion – Available mostly in the EU
- Bitpanda – Available mostly in the EU
- CoinCorner – Available mostly in the EU
- Swan – Available only within the USA
Crypto.com – Available Worldwide
Crypto.com is one of the industry leaders when it comes to the number
of features any one platform offers. And again this can be seen with
the recurring buy feature just released on the crypto.com phone app.
Users of crypto.com can now automate their Bitcoin purchases starting as low as $50 USD.
At the moment, recurring purchases can only be done on BTC using a
credit card in the app wallet, and with a maximum of 5 recurring buys
per month.
Purchase frequency can be set weekly, bi-weekly and monthly basis,
and with credit card purchase monthly limit starting from $500 going all
the way up to $20.000 depending on the amount of MCO user account is
holding.
After recurring buy is set, the chosen amount will be put into
Bitcoin and the stack of Bitcoins you have keeps growing, while you can
sit back and enjoy as crypto.com does all the work for you.
Download crypto.com app, use code de7wtcp8hh to get $50 bonus in MCO for free!
Coinbase – Available Worldwide
Coinbase has allowed recurring purchases to be made for rather a long
time, and it’s very easy, and simple to get started. Simply start by
choosing whether you want to use a website or app, and select which
asset to buy.
Coinbase automatically asks whether you want to do recurring
purchases, you can then choose to repeat this daily, weekly, or monthly
basis, to finish the process just complete your purchase.
Coinbase will then automatically repeat that purchase until you change or cancel it.
Register an account on the Coinbase website and earn extra $160+ dollars for free!
Gemini – Available Worldwide
Gemini allows users to set recurring buys where you schedule future purchases.
Users can make recurring purchases with USD across all order books.
And recurring buys can be set on either a phone app or website, both
ways have a very similar approach.
Simply select the amount you’d like to buy, select the frequency, and
confirm your order. Bitcoins will now be delivered to your wallet
automatically.
You can then manage your recurring orders from the dashboard, where
you can also switch your recurring buys on and off at any time.
After the initial set up, Gemini keeps purchasing Bitcoin while you can enjoy your free time.
Start buying Bitcoin on Gemini!
Coinmotion – Available mostly in the EU
Coinmotion is one of the oldest Scandinavian Bitcoin companies, that
also offers a wide variety of efficient services including recurring
cryptocurrency purchases.
On Coinmotion these are called “monthly savings” and can easily be
activated by simply navigating to the “savings” section in your
Coinmotion account.
The most convenient way do to this is to set up recurring monthly
payments directly from your bank, you can choose any day of the month,
and a wide range of cryptocurrencies to begin with.
You can also set up a reminder, if you want to receive emails
whenever you are about to make a deposit. After everything is set and
done, Coinmotion will do all the work for you.
Open free Coinmotion savings account!
Bitpanda – Available mostly in the EU
Bitpanda lets users set up personal savings plans for a variety of
assets including Cryptocurrencies and precious metals such as Gold and
Silver.
Setting up a savings plan with Bitpanda is simple and easy. And can
be done on multiple fiat currencies including EUR, USD, CHF, and GBP.
Users can even create multiple plans and change the details such as
amounts and frequencies on the go any time they want.
After confirming the first payment the savings plan is all set and
Bitpanda will keep rolling on the background and will invest for you
without any hassle from your side.
CoinCorner – Available mostly in the EU
CoinCorner allows dollar cost averaging into Bitcoin with a feature called Auto Buy.
Users can purchase small amounts of Bitcoin over time and save for
the long-term while simultaneously reducing any concerns about short
term price fluctuations.
Simply choose how often you want to buy, every day, weekly, or every
month. And the minimum order amount starting from as little as £10.
Once auto buying is set up you don’t have to spend time manually
tinkering, CoinCorner will keep buying Bitcoin while you can sit back
and relax.
Auto buy Bitcoin with CoinCorner!
Swan – Available only within the USA
Swan Bitcoin platform was created for the purpose of recurring Bitcoin purchases.
And it is one of the easiest platforms for US citizens to get started
with, all you have to do is to connect your bank account, choose the
amount you want to purchase and make a deposit.
The platform will then automatically continue purchasing Bitcoin and send those coins directly to your chosen Bitcoin address.
The minimum required amount users can purchase is $5 and purchases can be made every week, month, or after each paycheck.
Get started with Bitcoin investing using Swan!
To sum up
Dollar-Cost Averaging (DCA) can be an incredibly effective strategy
for a variety of reasons. On top of using it just for investments, a
variety of trading bots and large funds also utilize this behavior when
building trading positions, as with large amounts of money it’s
impossible to enter and exit the market without affecting the price.
And speaking of just investing it can also be incredibly beneficial
especially when you are new to Bitcoin. For example: when the price is
down, $100 will purchase more Bitcoin, increasing the potential gain,
while if the market turns around $100 will purchase fewer Bitcoins,
reducing the overall risk.
That being said whether dollar-cost averaging into Bitcoin is
something you want to participate, is up to you. However, there sure is
no denying that DCA can also take a lot of anxiety from investing as you
are not committing any significant amount of capital at one time to any
specific cryptocurrency. Not to mention you can always change the
investment amount as you go.
Note that investments involve risk and profits are not guaranteed.
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