Bitcoin is a new currency that has been gaining popularity in recent years. It’s decentralized, meaning it doesn’t rely on any central authority to issue or regulate the currency.
The recurring bitcoin purchase robinhood is a process that allows users to set up automated recurring purchases. This can be done through the use of different apps such as Robinhood.
Are you looking for a way to purchase Bitcoin on a daily, weekly, or monthly basis? Or are you searching for the most efficient method to acquire Bitcoin via regular purchases?
If that’s the case, this article is for you.
Bitcoin is climbing the charts, nearly every week hitting an ATH (All Time High). Investing in Bitcoin, particularly in these uncertain times, is a risky proposition for most individuals.
Setting up a recurrent purchase (also known as a Dollar Cost Averaging plan) may be a fantastic way to increase your crypto holdings over time if you’re ready to take the leap but don’t want to risk putting all of your money in at once.
You purchase a specific quantity of Bitcoin at regular periods, independent of price, volatility, or economic circumstances, rather than making a single large investment today.
This manner, you can decrease the danger of investing at the incorrect moment and lower your anxiety of losing money. No one wants to purchase at the peak of a market just to watch it collapse and enter a bear market. However, no one can predict the market.
That being said, it’s best to adhere to the plan, put away money on a regular basis, and convert your FIAT currency savings into Bitcoin savings. Slow and steady wins the race. You’re probably going to purchase Bitcoin at a discount anyhow.
Fortunately, buying Bitcoin on an automated and recurrent basis is simpler than you may expect.
There are a lot of cryptocurrency exchanges that provide a function that allows you to make recurring Bitcoin transactions.
It’s really straightforward. Investing in Bitcoin on a recurring basis allows you to set it and forget it thanks to dollar cost averaging. Everything is completely automatic after you set up the auto-buy. The trading platform will continue to purchase Bitcoin at regular intervals.
Does this seem appealing to you?
Let’s get started.
You’ll know precisely how to plan automatic Bitcoin purchases at the lowest costs feasible at the conclusion of this article.
What does it mean to buy bitcoin on a regular basis?
Let’s take a look at a strong investing technique called dollar-cost averaging to better comprehend recurrent Bitcoin purchases (DCA).
Dollar-cost averaging (DCA) is a long-term investment technique in which you put a certain amount of fiat money (USD, GBP, EUR, etc) into Bitcoin at regular intervals – daily, weekly, or monthly, for example.
Recurring Bitcoin purchase is a tool or product that enables you to buy Bitcoin (BTC) on a pre-determined timetable, regardless of how wildly the price fluctuates.
If you want to acquire Bitcoin for the long term but aren’t sure when is the ideal moment to do so, you might consider dollar-cost averaging Bitcoin.
Why should you set up automatic Bitcoin recurrence purchases?
Benefits of the DCA
1. Make a plan and stick to it. You won’t have to log into your exchange each time you want to purchase Bitcoin.
2. Remove emotion from the equation when it comes to investing. Regardless of the price, you will remain on a fixed source of changing a specific number of dollars into BTC.
3. Be confident in your financial future. Slowly accumulate wealth. Starting three years ago, buying $100 of Bitcoin per week for three years would have converted $15,700 into $120,588 (+668 percent).
4. Avoid the costs and taxes associated with active trading.
5. Reduces the likelihood of purchasing shirts. FOMO should be avoided at all costs.
Should you make Bitcoin purchases on a regular basis?
Is dollar cost averaging effective?
If you’re risk averse and uncomfortable with crypto-market volatility, regular buys may help mitigate the effect of short-term price fluctuations by allowing you to make more frequent (smaller) purchases.
Recurring purchases may save you time and effort if you’re weary of trying to timing the market to obtain the greatest pricing. Because you don’t have to keep track of the price all day and don’t have to trade manually.
If you don’t have the discipline to invest, dollar cost averaging (DCA) is a good option since it’s completely automatic.
What is the best way to set up an automatic Bitcoin purchase?
Even if you’re completely new to Bitcoin and have never invested before, you may set up a plan to receive BTC automatically and on a regular basis.
Here’s how it works in general:
- You create a free account on one of the platforms mentioned below.
- You authenticate yourself and link your bank account.
- You decide how much and how often you want to purchase Bitcoin (BTC) – daily, weekly, or monthly.
- That’s all there is to it! On a regular basis, you will get BTC straight in your wallet.
Best Bitcoin Buying Sites that Buy Bitcoin for You Every Day, Week, or Month
We can go right to the meat and potatoes of this post now that we’ve examined one of the most effective investing methods.
Here are the six best methods to put aside a specific amount of money to purchase Bitcoin on a regular basis.
Swan Bitcoin is number one.
Swan With regular recurring buys, Bitcoin is the simplest and most user-friendly method to acquire Bitcoin.
Swan is a “Bitcoin-only” onramp that focuses only on Bitcoin, unlike other trading platforms. There are no rival cryptocurrencies, no trading platforms, and no needless complication.
Swan Bitcoin makes it easy to set up automated recurring Bitcoin purchases:
- Create a Swan Bitcoin account for free and verify your identity.
- Connect to any bank account in the United States.
- Set an amount and decide whether you want to save Bitcoin daily, weekly, monthly, or by salary.
- Take a seat and unwind. Swan will gradually convert your dollars into Bitcoin savings and deliver BTC to your wallet or to a safe licensed and regulated custodian for free.
Swan has three outstanding qualities.
1) When the price of Bitcoin falls, this simple Bitcoin savings software will buy more.
2) The auto-withdrawals function enables you to plan Bitcoin withdrawals in order to transfer a certain quantity of Bitcoin to your own private wallet on a regular basis.
3) Save money on transaction costs by paying all of your fees in advance for the whole year.
Swan Bitcoin is the greatest method to grow your BTC stack over time, whether you’re just starting started, a Bitcoin maximalist, or a crypto enthusiast.
Bitcoin may be purchased for as low as $10. Allow Swan Bitcoin to do the legwork for you, allowing you to purchase modest quantities of Bitcoin on a regular basis, independent of the dollar price.
Coinbase is number two.
Coinbase, which was founded in 2012, is probably the most user-friendly bitcoin exchange in the world. The platform provides a full range of crypto financial services, including the ability to store, buy, sell, trade, manage, and transfer crypto assets all from a single account.
Recurring Buys, on the other hand, is Coinbase’s most underappreciated feature.
Many people are unaware that they may utilize the Recurring Buys function to invest more wisely. Recurring Buys allows users to invest in Bitcoin over time by arranging purchases on a daily, weekly, or monthly basis.
With Coinbase, there are two primary methods to set up a recurring purchase:
- using the internet
- using the Coinbase mobile application
It’s simple to set up a recurring purchase using Coinbase. You pick the cryptocurrency you want to purchase, the amount you want to spend, and the payment method and frequency you want to use. Unless you cancel it, Coinbase will carry out your planned purchases and transfer bitcoin directly to your wallet.
What’s more, by setting up a regular purchase on Coinbase, you may now receive rewards. Set up a $50 recurrent purchase and you’ll get a $10 incentive after your fourth and eighth purchases.
When it comes to transaction costs, Coinbase charges a fixed fee for transactions under $200.
|Amount of the Total Transaction||Fee|
|Less than ten dollars||$0.99|
|From $10 to $25||$1.49|
|ranging from $25 to $50||$1.99|
|ranging from $50 to $200||$2.99|
Coinbase imposes a variable percentage fee of 1.49 percent on trades above $200.
Are you considering utilizing the Coinbase cryptocurrency exchange? Here’s all you need to know about our review.
BlockFi is number three.
BlockFi established a reputation for itself as one of the first businesses to provide Bitcoin interest accounts and quick crypto-backed loans. It enables you to make a high return on your Bitcoin while also allowing you to get cash loans without having to liquidate your crypto assets.
BlockFi has just expanded its services by introducing a new Recurring Trades function, which allows you to conduct recurring auto-trades on a daily, weekly, or monthly basis.
Both the online platform and the BlockFi mobile app support recurring transactions.
BlockFi is unique in that it will pay you a high rate of interest for keeping bitcoin in your account while you wait to buy your chosen crypto asset. Furthermore, BlockFi does not charge you a fee for making automated Bitcoin purchases.
However, before you can use your USD, EUR, or any other local currency to buy Bitcoin on a regular basis, you must first convert it to a stablecoin.
The following is how it works:
- Go to your BlockFi account and sign in. If you’re new to BlockFi, create a free account here and deposit to earn up to $250.
- Deposit money into your BlockFi interest account.
- Choose whether to repeat the transaction on a daily, weekly, or monthly basis (on the 1st or 15th of every month).
- Select a stablecoin that you’d want to sell (choose from USDC, PAX, or GUSD).
- Choose a cryptocurrency to purchase (choose from BTC, LTC, or ETH).
BlockFi will take care of the rest and continue to buy Bitcoin for you after you’ve set up this recurring transaction. You may modify or remove the recurring transactions at any time.
Do you want to get the most bang for your buck with BlockFi? Check out my full BlockFi review and instructions here.
Gemini, another reputable cryptocurrency exchange founded by the Winklevoss Twins, allows you to convert your dollars into Bitcoin savings on a daily, weekly, or monthly basis.
It’s easy to use the Recurring Buys feature on Gemini (on the mobile app or the online platform) to plan future purchases.
You put aside money for Bitcoin purchases, select how much you want to buy, and define how often you want to buy – every day, week, or month. That is all there is to it. For as long as you wish, the exchange will place automatic orders and purchase crypto on your behalf until you discontinue the service.
For each recurrent purchase, Gemini charges a transparent and modest trading fee. Their pricing is comparable to Coinbase’s:
|Amount of an online order (USD)||Fees for transactions (USD)|
|Less than ten dollars||$0.99|
|From $10 to $25||$1.49|
|ranging from $25 to $50||$1.99|
|ranging from $50 to $200||$2.99|
|In excess of $200||1.49 percent of the total value of your purchase|
Crypto.com is number five.
Crypto.com is a user-friendly smartphone software that enables you to buy, sell, trade, store, earn, loan, invest, and automate cryptocurrency transactions.
You may buy set quantities of your favorite cryptocurrencies on the Crypto App on a weekly, bi-weekly, or monthly basis with a recurring buy.
Trades in the following cryptocurrency may be automated:
- ADA, XRP, AAVE, YFI, UNI, DOT, XLM, LTC, ZIL, BTC, CRO, ETH, LINK, BAND, VET, ADA, XRP, AAVE, YFI, UNI, DOT, XLM, LTC, ZIL
When creating a recurring purchase, you have the option of using one of three payment methods:
- Bitcoin is a kind of cryptocurrency (Tether, USD Coin , Dai, Paxos Standard, TrueUSD)
- Fiat money is money issued by the government (AUD, EUR, GBP, USD)
- Credit cards are accepted.
With my code “heq9qnuzam,” you may earn $50 USD by downloading the Crypto.com app on your phone.
To make your first bitcoin recurring purchase, you may start with as little as $50 USD. Once you approve the transaction, Crypto.com will invest a specific amount of USD on your behalf, regardless of the asset’s price, and at predetermined intervals. Additionally, Bitcoin will be sent to your Crypto.com wallet.
Currently, Crypto.com allows for a maximum of 5 recurring purchases each month.
Crypto.com is a simple method to build your stack and convert your dollars into Bitcoin over time if you don’t have a lot of money to invest up front.
Binance is number six.
Binance, the world’s biggest cryptocurrency exchange by trading volume and number of users, now provides a variety of crypto services, including periodic bitcoin purchases.
Sign up for a free Binance.US account to begin placing Recurring Buy orders for more than 20 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, BNB, and others.
Click “Buy Coin” on your Binance dashboard to automate your crypto investment. Select your preferred cryptocurrency, payment method, and frequency. Binance.US offers the following frequency options:
Once you’ve agreed to the terms, Binance.US will make your first purchase and continue to buy Bitcoin for you without you having to do anything.
There you have it: six of the finest cryptocurrency exchanges for automating Bitcoin purchases and saving time and effort.
Use the Recurring Buys function to your advantage. You may just sit back and relax, allowing the exchange platform to process your orders and effectively grow your crypto fortune.
Overall, dollar cost averaging is an excellent approach for individuals who wish to purchase Bitcoin gradually over time in order to reduce timing risk and mental stress.
Taking a little portion of your salary each month and making small contributions on a regular basis may build up to significant benefits over time.
What are your thoughts?
Would you want to have your Bitcoin purchases automated? Why do you think that is?
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Because I am not a financial adviser, my suggestions should not be considered professional investment advice.
The gemini recurring buy fees is an automated process that allows you to set up a recurring bitcoin purchase.
Frequently Asked Questions
What are the 7 steps to buying Bitcoins?
Buying bitcoins is easy. You need to be aware of the risks, and you need to have a wallet where you can store your coins.
How do I setup a recurring buy on Coinbase?
You can setup a recurring buy on Coinbase by going to Settings -> Recurring Buy and then setting the amount of time, how often it should happen (daily, weekly, monthly), and what address you want your payments to be made from.
How do you automate crypto purchase?
I am not able to automate crypto purchase.
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