How to configure DCA on Botcrypto?
Dollar-Cost Averaging strategies are investment strategies that reduce the risk of investing at the wrong time by smoothing investments over time. You can learn more about Dollar-Cost Averaging in our article With Dollar-Cost Averaging, invest serenely in bitcoin and cryptos.
A Dollar-Cost Average strategy simply consists of investing a fixed amount at regular intervals.
You can create a Dollar-Cost Average strategy on Botcrypto from a blank page, but you can also import one of the two customizable strategies from the store. You can import them for free and then configure them according to your needs:
- Weekly DCA
- Monthly DCA
Here is the Monthly DCA strategy from the store.
Its a simple strategy. We start with the Start block, then we send a buy order for a fixed amount in asset quote (here 100), then we wait for a fixed number of days (here 30 days), then we start again.
If I launch a real bot on the Kraken BTCUSD pair with this strategy and with an initial volume of 1000USD, the bot will buy for 100USD of BTC every 30 days. It is thus a monthly purchase of 100USD. You must obviously first fund your Kraken account with 1000USD.
You can also launch a real Dollar-Cost Averaging bot on any pair available on Kraken and Binance. This way you can gradually invest in altcoins!
You can change the amount of the regular purchase by clicking on the Buy block and changing the Volume field.
You can change the interval between each buy by clicking on the Wait block and modifying the Day, Hour and Minute fields.
Configure your strategy
A Dollar-Cost Average strategy simply consists of investing a fixed amount at regular intervals.
You can create a Dollar-Cost Average strategy on Botcrypto from a blank page, but you can also import one of the two customizable strategies from the store. You can import them for free and then configure them according to your needs:
- Weekly DCA
- Monthly DCA
Strategy presentation
Here is the Monthly DCA strategy from the store.
Its a simple strategy. We start with the Start block, then we send a buy order for a fixed amount in asset quote (here 100), then we wait for a fixed number of days (here 30 days), then we start again.
If I launch a real bot on the Kraken BTCUSD pair with this strategy and with an initial volume of 1000USD, the bot will buy for 100USD of BTC every 30 days. It is thus a monthly purchase of 100USD. You must obviously first fund your Kraken account with 1000USD.
You can also launch a real Dollar-Cost Averaging bot on any pair available on Kraken and Binance. This way you can gradually invest in altcoins!
Setting up the regular purchase amount
You can change the amount of the regular purchase by clicking on the Buy block and changing the Volume field.
Configuring the interval between each buy
You can change the interval between each buy by clicking on the Wait block and modifying the Day, Hour and Minute fields.
Updated on: 04/12/2020