Did you know Bitaroo offers you three ways to buy bitcoin on a recurring basis?
'Dollar-Cost Averaging' (DCA), allows you to set up regular, ongoing bitcoin purchases to help negate short-term market volatility.
You have three options when setting up your recurring buy:
Option #1: Express Auto Buy
1. Head to 'Account → Deposit'
2. Next to 'AUD Deposit Details', toggle 'Auto Buy' to ON
3. Copy the PayID email or the BSB/Account details that appear on-screen (using the reference name is 100% optional)
4. On your bank's online banking platform, set recurring payments from your bank account to the PayID email or the BSB/Account details you copied from the previous step.
And that is it!
Now every time your bank drops money to Bitaroo you will be auto buying yourself some bitcoin!
Option #2: Express Recurring Buy (DCA)
1. On the app's 'Buy' screen or the web's 'Buy' page, choose 'Recurring Buy (DCA)'.
2. Enter the desired recurring amount in AUD.
3. Select the frequency (every 10 minutes, hour, week, or month) and
4. Click the 'Buy' button.
If the order is valid, it will be executed as an 'Express Buy' immediately and will continue placing Express Buy orders at the chosen frequency.
Option #3: Recurring Buy (DCA) on the Trade page
1. Head to the 'Trade' page
2. On the Order Form, change Type from 'Limit' to 'Recurring Buy (DCA)'
3. Enter an amount in AUD
4. Select your purchase frequency (daily, weekly, fortnightly, monthly)
5. Hit 'Buy BTC’
And that is it!
Your DCA will execute the first buy instantly and will continue buying at the frequency set.
Express or Trade DCA? Pros and Cons
Express:
+ The most user-friendly, straightforward way to buy bitcoin
- Slightly more expensive than Trade DCA
Trade:
+ Cheapest way to DCA
- A few more steps, less user friendly