To make the platform even better for our users, we launched a new feature on the platform: Recurring Purchase.
With this function, you can schedule automatic purchases at 4 different time intervals, including every day, every 3, 7 and 30 days.
The recurring purchase function will help you to implement the strategy called "Dollar Cost Averaging", an investment strategy in which the investor divides the total amount to be invested in the periodic purchases of a target asset, such as Bitcoin. The purpose of doing this is to reduce the impact of volatility on the overall purchase.
Before creating your Automatic Investment Plan with the Recurring Purchase function, you can use the Simulation back test function to have a reference on how many Bitcoins you can earn.
As you can see from the print, if you had invested €50 every 7 days during the last 12 months to buy BTC, your return on investment would be 139.24% at the end of the period.
How to apply Dollar-Cost Averaging to Bitcoin investment?
Dollar-Cost Averaging does not require any technicalanalysis, so it is quite simple even for beginners.
You can establish an automatic investment plan at NovaDAX to invest regularly and automatically in Bitcoin little by little.
Steps to do it:
1. Enter the Buy and Sell page to make a Recurring Purchase. (If you don't have a NovaDAX account, you can register first.)
2. Click on the space where “one time purchase” appears, to see possible purchase frequencies. The options include every day, every three, seven and thirty days.
3. Choose the purchase frequency you want, enter the amount for purchase and click on “INSTANT BUY BTC”. Now your automatic investment plan is set up!
To check, pause, reactivate and terminate your automatic investment plan, you can follow the instructions below:
1. Click on the wallet button in the main menu and choose “Automatic Investment Plan”.
2. Click on the respective buttons on the next screen to pause, reactivate and terminate your plan.
Attention: You must ensure that the account balance is always sufficient so that the recurring purchase orders can be executed successfully.
For further questions regarding the recurring purchase and the automatic investment plan that NovaDAX offers, you can contact us via firstname.lastname@example.org.