Last update date: 08-28-2024
Main conclusions
Users can save themselves the hassle of manually purchasing cryptocurrencies over a period of time by setting up automatic cryptocurrency purchases using the recurring purchase function on the Binance platform.
The repeat purchase function facilitates the dollar cost averaging strategy, helping users achieve steady cryptocurrency growth through regular and consistent investment.
Through repeat purchases, users can enjoy easy access to the rest of the Binance ecosystem, explore a wider range of investment products, and purchase non-fungible tokens (NFTs) and fan tokens.
Set up a purchase frequency in just five easy steps and start growing your crypto portfolio today using Visa and Mastercard credit and debit cards.
If you're looking for a quick and hassle-free way to buy cryptocurrencies automatically, Binance's Recurring Buy feature is exactly what you need.
What is the purchase frequency in Binance?
Designed to facilitate a dollar-cost averaging investment strategy, the Buy Frequency feature allows you to choose which cryptocurrency you want to buy, the amount you want to buy, and the frequency of your purchase. This not only saves you time but also the effort of trying to time the market correctly. Furthermore, by using Buy Frequency you can reduce the impact of market volatility, reduce the risk of buying at an inappropriate time, and steadily grow your cryptocurrency portfolio through long-term appreciation.
No matter how busy you are, recurring purchases save you the hassle of manually purchasing cryptocurrency over time by setting up automatic cryptocurrency purchases. Keep reading about the benefits of recurring purchases and how to set up recurring purchases in five simple steps.
Why use recurring purchases to grow your cryptocurrency portfolio?
The Binance Repeat Purchase feature creates a fully automated process — and you can enjoy convenience, speed, and easy access to other services in the Binance ecosystem. Here are four more reasons to use Repeat Purchase.
1. Steady growth of the investment portfolio through a long-term investment strategy.
2. Comfortable, flexible and suitable for beginners.
Say goodbye to the hassle of manual recurring purchases with this automated feature. Automating your crypto purchases to save time and make investing easier is an ideal process for beginners. You can also choose between daily, weekly, bi-weekly, or even monthly purchases, and choose the type of crypto you want to buy in advance. Recurring purchases support 45+ local currencies. In addition, Binance will add support for new and popular assets to the recurring purchase feature.
3. Easy access to the Binance ecosystem
The first step to growing your crypto portfolio is to build up your crypto holdings, which you can do by repeating your purchases. After that, you can maximize your repeat crypto purchases through other Binance products such as Earn, Yield, Trading, Launch Pool, or even buying your first NFT.
4. Elevate your personal investment experience
Not familiar with investment strategies? Here’s an easier way. By automating investments, you can better plan your finances and systematically allocate funds to meet your investment goals. A structured, recurring approach to purchasing can lead to more effective financial management and achieving your goals, enhancing your financial planning and enhancing your personal investing experience.
A detailed step-by-step guide to setting up a recurring purchase on Binance
Step 1: Choose your cryptocurrency and enable recurring purchases.
Log in to your Binance account, click the [Trade] option on the app homepage, then click [Buy]. Click [Buy Crypto] to display the drop-down menu and select [Repeat Purchase].
Next, choose the cryptocurrency you want to buy and enable the repeat purchase feature on the same page.
For web users, simply click on [Buy Crypto] in the title at the top of the homepage and select [Repeat Purchase].
Step 2: Select your preferred local currency.
Choose from over 45 supported currencies on repeat purchase.
Step 3: Set the repetition rate
Click on the date on the same page and choose between daily, weekly, bi-monthly or monthly time periods. You can also choose the day and time for the recurring purchase.
Step 4: Select payment methods
We currently accept Visa or Mastercard credit/debit cards. You can choose to use one of your existing cards or add a new one.
Note: You can only add up to 5 cards. If you want to add any more cards, you will need to delete your existing cards first. If the card is used for repeat purchases, you will need to cancel your repeat purchase plans to continue.
Step 5: Confirm your order details
Check your order details and confirm it within one minute, because after one minute, the price and the amount of cryptocurrency you will receive will be recalculated. Click [Refresh] to view the latest market price. After confirming your order details, you are all set. You can visit your order history to check the status of your recurring purchase plan.
For a more detailed guide, check out our article on How to Use Purchase Recurrence.
Conclusion
Taking small, incremental, regular steps in your crypto investment by using Binance's Repeat Buy feature can lead to bigger gains over time.
However, make sure you carefully consider your financial goals, risk tolerance, and trading comfort level before considering setting up recurring purchase plans. And be sure to do your own research before allocating.
