How to set up automatic periodic purchase (DCA)?

Regular automatic purchases are an excellent method for gradually saving in cryptocurrencies by investing smaller amounts at regular intervals, such as weekly or monthly. You can learn more about this strategy in the article on DCA – Investment Strategy.

Steps:

1. Create Your First Order: Create an order for the desired amount and complete the payment.
2. Set Up a Standing Order in Your Online Banking: Configure a standing order in your online banking system with the desired frequency (e.g., weekly, every 14 days, or monthly). Use the same payment reference as your initial order to ensure the system recognizes these as duplicate orders.
3. Enable Automatic Processing in Settings: In your simplecoin account, navigate to Settings → General settings and activate the option Set Status “Proceed” On Duplicate Orders Automatically. This will ensure that payments are processed automatically without requiring your further involvement.