Binance Auto Invest can also be done from the Binance mobile app. However, because of the extra options, it will be clearer to demonstrate on the website which unlike Kucoin bots is an option on Binance. This tutorial assumes you have some BUSD stablecoin in your Spot wallet although you can choose from some fiat currencies and other stablecoins. This will become clear as we proceed.
- Select Earn from the main menu and select Auto Invest as shown next.
Select Auto Invest
Notice from the following options you can select Portfolio and pick a whole basket of currencies and invest as little as $1. As you can select up to 5 tokens per portfolio, this means you can buy as little as 20 cents per token per purchase period. We will just buy Bitcoin.
- The next image shows how to begin configuring auto-invest for Bitcoin. Find BTC and click Create a plan.
- Observe the next image to easily follow the next set of instructions.
Configure BTC DCA
- By number 1 we can see we have chosen BTC, by number 2 type the amount in US Dollars you want to invest with each purchase. You can invest as little as $0.2 per purchase. I have chosen $1. By 3 you choose the token or currency to use for your purchases. By the number 4, choose the frequency of the investment. I have chosen Daily. By the number 5 choose the time of day to make your purchase. Review the Summary section on the right to make sure you have configured it how you want it and by the number 6, check the box to agree to Binance’s terms and conditions.
- Finally, click Confirm to set auto-invest in motion.
- In the next image, you can see your newly configured plan. Click on the edit icon (the pencil) to change or click on the orange switch at the bottom to pause/cancel it.
BTC a dollar a day
Congratulations you now can invest in Bitcoin without constantly logging in to an exchange or fixating on the price.
It is important to remember that just because the DCA feature is useful you should still take the time to periodically empty any tokens from the exchange. On Binance that will be easy because all the DCA purchased tokens are put into your Spot wallet and can be withdrawn as normal.