How to Set Up a Recurring Buy

What is Recurring Buy?

Recurring Buy is a feature that allows you to automatically purchase cryptocurrencies at regular intervals—daily, weekly, bi-weekly, or monthly. This feature is designed to help you invest a fixed amount of money into your chosen cryptocurrency on a consistent schedule, regardless of price. The idea behind this is to help you invest over time, minimizing the risk of purchasing at a single high price point.

 

 

Why Use Recurring Buy?

There are several benefits to using Recurring Buy for crypto Spot Trading:

1. Reduces Emotional Decision-Making

• Crypto markets are known for their volatility, and it can be tempting to make impulsive decisions when prices swing. Recurring Buy removes the emotional aspect of trading by automating the process. With this method, you’re investing steadily, regardless of short-term market movements.

2. Simplifies the Investment Process

• You don’t need to worry about checking the market every day or figuring out when to buy. Once you’ve set up your Recurring Buy plan, your investments will be automatically processed at your preferred intervals.

3. Averages Your Purchase Price

• By purchasing at regular intervals, your average purchase price is smoothed out. If you buy during a market dip, you’ll acquire more of the asset; if the price is higher, you’ll acquire less. Over time, this can lead to a more balanced and cost-effective approach to buying cryptocurrencies.

4. Great for Long-Term Investors

• Recurring Buy is ideal for investors who want to build their crypto portfolio steadily without the stress of timing the market. This strategy works well for those who plan to hold their assets for the long term.

 

How to Set Up Recurring Buy

Step 1: Log In to Your Crypto Trading Account

Access your Flipster account and tap on the [Market] tab, then [Spot].

         

 

Step 2: Choose the Cryptocurrency You Want to Invest in.

Select the cryptocurrency you’d like to invest in, such as Bitcoin (BTC), Ethereum (ETH), or any other supported coin.

         

 

Step 3: Choose the order type, Recuring Buy

           

 

Step 4:  Start Setting Up Your Recurring Buy Plan

Click on [Create New] to begin configuring your plan.

         

 

Step 5: Enter the Investment Amount and Set Your Schedule

Input the amount you wish to invest for each scheduled purchase. Ensure the amount fits your budget and investment strategy.

Once you confirm your plan, Flipster will automatically execute your orders based on the schedule you’ve set, saving you time and ensuring consistent investments.

Determine how frequently you want your purchases to occur by choosing one of the following intervals:

• Daily: Your purchases will be executed automatically every day.
• Weekly: Pick a specific day of the week (e.g., Monday, Wednesday).
• Monthly: Select a particular date (e.g., the 1st, 15th, or 31st).

    

 

How to Cancel a Recurring Buy

If you've set up a recurring buy for a cryptocurrency and would like to cancel it, follow these simple steps:

Step-by-Step Guide:

1. Choose the Cryptocurrency:
   • Go to your portfolio or orders section and select the cryptocurrency for which you've set up a recurring buy.
2. Navigate to the Recurring Buy Section:
   • On the order page, look for the Recurring Buy option. This will display the recurring buy plans you currently have active.

         

3. Select the Recurring Buy Plan:
   • Find the recurring buy plan you want to cancel. For example, if you have a recurring buy set up for Bitcoin, locate the Bitcoin plan.
4. Cancel the Plan:
   • Tap on the recurring buy plan for Bitcoin (or the cryptocurrency you wish to cancel).

         

• Select [Delete BTC Recurring] (or the corresponding cryptocurrency name).

         

• Confirm your action by tapping [Delete].

         

 

Once you've completed these steps, your recurring buy plan will be successfully canceled, and no future buys will be processed for that cryptocurrency.

 

 

 

 

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