Some exchanges offers to set up an order to buy bitcoins or any other crypto on a daily, weekly or monthly basis. This is what is called “recurring payment” or “savings plan”. If you are in doubt whether it is a good idea to buy crypto right now, then it could be very useful to use recurring purchases as it would spread your purchases out and you would then be less affected of price drops. By buying in smaller chunks then you are spreading you risk.
Recurring purchasing also called dollar cost averaging. dcabtc.com is a really good site where you can see how much you would have spent and earned if you would have set up a recurring purchase.
In the image above you would have spent 10$ every week the last two years. However even though Bitcoin has gone down more or less the whole 2018 you are in profit of 33%, this is because you have bought all the way down to the bottom and continued to buy. In that way you will also be sure to have bought at the bottom and this will be beneficial as soon as the market turn and go up again. Of course there are no one that can tell if bitcoin will go up again. But if you believe that this is they case then it is a good way to build up a crypto portfolio.
Exchanges with recurring purchase option
Both Bitpanda and Coinbase offer recurring purchases via credit card.
|Name||Region||Credit card fees||Go there|
|Bitpanda||Europe||1.5%||Go to Bitpanda|
|Coinbase||Australia, Europe, UK and US||3.99%||Go to Coinbase|