Bitcoin Forum

Economy => Exchanges => Topic started by: barathchoudry on January 14, 2020, 12:11:47 PM



Title: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: barathchoudry on January 14, 2020, 12:11:47 PM
hi guys im planning to invest in bitcoin through DCA strategy. Can you guys please tell me best platform or website which offers this service?


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: Icygreen on January 14, 2020, 12:47:19 PM
Bitstamp (https://www.bitstamp.net/market/tradeview/) is often referred to here as a trustworthy exchange and they are one of the longest running exchanges around today. What makes them so reputable is that they do not offer leverage, uptime is very consistant and support is top class.  Most exchanges support API keys which is how you'd set up DCA buys. You may want to post in technical support to learn how to do this.
For Canadians, I really like Bullbitcoin (https://bullbitcoin.com/) they offer DCA and it's a non-custodial exchange for Bitcoin only.  Highly recommended but you must be Canadian.
There are indeed plenty of reputable exchanges to choose from and regardless of which exchange you decide to use consider these Pro tips, unless you're a experienced trader, try to avoid the urge to trade and do not keep any more value on the exchange than you're prepared to lose. Bitcoin or fiat.
Happy DCA'ing and congratulations on your journey into monetary freedom.



Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: ChrisPop on January 14, 2020, 02:47:54 PM
I think that with a bit of time you cand DCA on a daily basis manually. Otherwise you can use a bot coded by yourself if you possess the necessary skills or you can have a well-versed programmer to create a custom one for you.

Feel free to search on google for open-source algorithms  you can easily connect those to most of the major exchanges.


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: ChrisPop on January 14, 2020, 04:59:44 PM
Bitstamp (https://www.bitstamp.net/market/tradeview/)

Absolutely not. I don't trust exchanges with such a bad reputation.

Bitstamp has a bad reputation? If you had one bad experience it doesn't mean that's the norm. As far as I know Bitstamp is between the most used major exchanges especially in Europe. If you are in United States I recommend using the Gemini exchange as they have that NY license if I remember good.


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: LeGaulois on January 14, 2020, 05:17:45 PM
I did it with a bot before, the only option I found ^^. You can do it semi-automatically with Imacro too, however, if you never used it you will need some time to create your own (about 30 min.)

Coinbase had a feature to buy every X days/weeks/months. You should probably take a look to see if the feature is still alive. It will make it easier for you instead.

The comments are old but it confirms it was implemented
https://www.reddit.com/r/Bitcoin/comments/1un733/is_there_a_way_to_automatically_buy_bitcoin_every/
https://www.reddit.com/r/Bitcoin/comments/2xtwn6/is_it_possible_to_automatically_buy_a_small/

There is this script in Python to do the same on Coinbase Pro
https://github.com/brndnmtthws/optimal-buy-cbpro

There is also Pionex, never used so can't comment about it


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: Icygreen on January 15, 2020, 01:35:07 AM
Bitstamp (https://www.bitstamp.net/market/tradeview/)

Absolutely not. I don't trust exchanges with such a bad reputation.
Speaking of reputation, You an account farmer?
Your posts are all one line or less replies with zero substance. For you we reserve Bitfinex's tether and Bitmex's 100x leverage shorts.  ::)


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: avikz on January 15, 2020, 05:10:39 AM
hi guys im planning to invest in bitcoin through DCA strategy. Can you guys please tell me best platform or website which offers this service?

Coinbase is really good if you are willing to invest a certain amount of money into bitcoin at a certain interval. So go check coinbase website if they are available in your country. But the fees is higher compared to the other exchanges available in the market.

Otherwise, you can just use your own calendar and choose a reputed exchange like Binance to buy into bitcoin at a certain time interval. That will not be automated and requires a manual effort.

I also know about a platform named "bitdroplet.com" which allows automatic investment in bitcoin. But I have never used them so I am not sure if they are good or not! But you can check online reviews and decide for yourself!

Hope this helps!


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: barathchoudry on January 15, 2020, 12:17:49 PM
thanks for the reply guys its what we called https://humancatch.com/ (https://humancatch.com/)


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: GreatArkansas on January 15, 2020, 01:00:51 PM
When doing Dollar Cost Averaging (DCA), I think it is also much better to withdraw your bought Bitcoins after buying, storing it on exchange for me is not safe at all especially you doing Dollar Cost Averaging (DCA) which is probably a long term before selling it.
So for me, select an exchange that has also less withdrawal fee besides an exchange with low transaction fees for every trade you made.
Also, the KYC problems, avoid them. Try Binance or Coinbase.


Title: Re: which is the best platform to invest in bitcoin using dollar cost averaging DCA?
Post by: barathchoudry on January 29, 2020, 12:16:58 PM
Thanks all I have found a service at last. https://bitdroplet.com/ (https://bitdroplet.com/) allows investing in bitcoin through Dollar-cost averaging. This is similar to SIP in mutual funds. Now i can buy bitcoin in a regular interval using their SPP(systematic purchase plan) which is what they call it. This allows me to invest as small amount that i can in a regular interval so that i can accumulate wealth overtime.