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Buy Cryptos Easily and Cheaply with Binance’s “Recurring Buy” Feature.

source-logo  altcoinbuzz.io 01 April 2022 07:56, UTC

Because of the volatile nature of the crypto market, traders and investors find it difficult to “time the market” and determine when to enter and exit trades. Many investors use recurring buy techniques to decrease the impact of market volatility and remove the stress of market timing.

Therefore, in this article, you will find out more about “recurring buy“, the latest feature of Binance.

What is the “Recurring Buy” Feature of Binance?

Crypto exchanges all over the world have started to offer systematic/ periodic buying plans as a method to invest in crypto assets such as Bitcoin, Ethereum, among others. Therefore, Binance offers this option for more than two years.

Also, reading signals and making calls based on technicals is difficult. However, a recurrent buying crypto is easier to understand and much easier to implement.

You can now set up recurring buys using Buy Crypto on https://t.co/AZwoBOy3iq and in our mobile app:

💥 20+ cryptocurrencies to choose from
💥 Pick weekly, bi-weekly or monthly orders
💥 Get the lowest #crypto trading fees in the US

Need help setting up your first? Let us know!

— Binance.US 🇺🇸 (@BinanceUS) June 16, 2020

The “recurring buy” feature is an ideal crypto buying method for beginners and small investors. Instead of investing a large sum all at once, you can invest little amounts each month over a long period. Furthermore, there is no need to time the markets.

Therefore, investing on a recurrent basis can help you focus on long-term growth while reducing risk and the stress of market timing. This is a strategy known as dollar-cost averaging. In the animation below you can see an example of the benefit of this kind of investing.

Source: Robinhood
Three Advantages Recurring Buy in Binance
  • Expanded Access: Large and small investors can perfectly use the “recurring buy” option. They are a great option to consider if you just have a limited amount of money to invest. Because the allocation is phased, you will not have to pay a significant sum of money all at once.
  • Risks are Reduced: The recurring buy can be used as a hedge against crypto volatility. You may not always get the best deals, but the average purchase price is expected to be within the acceptable limit. Long-term RBPs can help you in flattening out volatile market behavior.
  • No need to time the market: You don’t have to think about drawing charts, identifying trendlines, identifying support and resistance zones. Also, you do not need to hunt for the correct momentum and volatility indicators to find a value buying zone when you use RBPs.

While you will still need to perform some fundamental analysis to discover the most promising assets, you will not need to do any complicated technical work to determine the best entry and exit positions.

How To Set Up Recurring Investments on Binance

The “recurring buy” option allows users to buy crypto with fiat on a weekly, biweekly, or monthly basis. Also, you can specify the day and hour when the recurring transaction will occur. Simply connect and pay using your VISA/Mastercard to get started.

Here are 5 steps to set up your recurring buy on Binance:

  • Select Your Crypto and Enable Recurring buy: Log in to your Binance account and go to the app’s homepage. After that, tap on the [Credit/Debit Card] option. Next, select the cryptocurrency you want to buy and enable the Recurring Buy function on the same page.
  • Choose your favorite fiat currency
  • Configure the frequency: On the same screen, tap the date and select weekly, bi-weekly, or monthly intervals. You can also choose the day and time of your Recurring Buy
  • Choose your payment methods
  • Confirm the details of your order: Binance has another option called Auto-Invest. It is Binance Earn’s tool that allows you to automate crypto investments while also earning passive income. Auto-Invest plans, unlike “Recurring Buy” plans, only allow you to buy crypto regularly using the stablecoins USDT and BUSD.

Also, “Recurring Buy” and “Auto-Invest” are ways to begin investing regularly, although they don’t have the same features. In the picture below, you can see the differences between these two options. It can assist you in determining which investment approach is best for you.

SOURCE: Binance

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