Dollar-cost averaging with regular purchases is an easy and stress-free crypto investment strategy. On OKX, you can set recurring buys with a credit card or debit card, or with our sophisticated trading bot.
This beginner-friendly tutorial will walk you through setting up a recurring buy with a credit card on the OKX app. By entering an investment over time, you average your entry price out and don’t need to worry about trying to catch the exact bottom — which is no easy feat!
How to do recurring buys with a credit card on OKX
From the OKX app home screen, tap Buy crypto.
Next, tap the Buy [crypto] button at the top to select the cryptocurrency you will buy at regular intervals. Then, select the local currency you will pay with by tapping the menu next to the amount.
Enter the amount you want to buy per purchase using the on-screen keypad. You can enter the amount in either local currency or cryptocurrency.
To set up your recurring buy, tap One-time purchase.
Select your desired interval between buys on the “Select frequency” pop-up. The options are daily, weekly, bi-weekly and monthly.
Tap the appropriate interval and then tap Buy [crypto].
On the next screen, tap Debit/Credit card and then Confirm.
You’ll be prompted to verify your identity if you haven’t already done it. Tap Verify to begin.
Enter the details requested and tap Next.
Then, tap Add new card.
Enter your card details and tap Next.
Then, select your payment method from the list. Check the terms of service box and tap Confirm.
On the “Confirm Order” screen, check the details and tap Pay. If the timer runs out before doing so, you will need to refresh the price.
The next screen will confirm that you have set up your recurring buy with a credit card. You can view the assets you just bought in your account by tapping View assets.
Tapping Recurring plan details will display all the information about your recurring buy order. Tap Manage to edit the details. You’ll find the option to temporarily pause dollar-cost average buys and resume them later, and cancel the plan entirely.
Take the stress out of crypto investing with OKX recurring buys
Dollar-cost averaging is a popular strategy for both traditional and crypto investors because of its simplicity. By entering an investment over a period of time rather than with a single purchase, you are not tied to a single entry price. If the price goes down after your first recurring buy, your next will be lower, and your investment’s cost basis will be the average of the two prices.
Thanks to its ease of use, recurring buys are ideal for less experienced investors or those that don’t want to spend great lengths of time analyzing previous price action for the perfect entry point. When using OKX’s recurring buy with a credit card, you can set it and forget it!
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Source: https://www.okx.com/academy/en/recurring-buys-with-credit-card