Auto DCA service? timing exchange

[Husires]

Almost all of us know DCA's strategy and for more I quote the definition

Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals.

Is there any way to do it automatically, meaning that I deposit 1000 USDT/ANY COIN, and the platform automatically buys (or place buy order) every week at five o’clock, for example, or every day at four o’clock with an amount of $100 instead of relying on the price of Bitcoin

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[mk4]

Swan[1] is the platform I've been seeing a lot when it comes to recommendations concerning auto DCAs. It's a US-only platform though as far as I know. Though you can probably use the likes of Binance, etc using scripts.

[1] https://swanbitcoin.com/

[edgycorner]

I think all major exchanges have an auto-investing feature.

Binance: https://www.binance.com/en/savings/auto-invest
Crypto.com: https://help.crypto.com/en/articles/4170965-recurring-buy-how-does-it-work
Kucoin: https://www.kucoin.com/blog/kucoin-introduces-its-trading-bot-for-making-passive-income

and Swanbitcoin, which is already mentioned by mk14

Even coinbase offers it too ig
Good luck

[Maus0728]

Coinbase have also similar function.
- https://blog.coinbase.com/coinbase-makes-investing-easy-with-with-dollar-cost-averaging-1231b556b4bf?gi=4a72688c6897

And as far as I know you can also have a binance bot that will automate dca for you. Personally, I am planning to create a bot for this to serve as practice in learning JS using this as a reference^[1] -- check that out.

[1] https://github.com/lukeliasi/binance-dca-bot

[Husires]

Swan[1] is the platform I've been seeing a lot when it comes to recommendations concerning auto DCAs.

Binance: https://www.binance.com/en/savings/auto-invest
Crypto.com: https://help.crypto.com/en/articles/4170965-recurring-buy-how-does-it-work
and Swanbitcoin, which is already mentioned by mk14

I don't think I can access those options either because it's in the US or because I can't verify identity.

Kucoin: https://www.kucoin.com/blog/kucoin-introduces-its-trading-bot-for-making-passive-income

This might work with me, I'll try it out soon and update it

[1] https://github.com/lukeliasi/binance-dca-bot

I will look at the code, but it will be nicer if you develop it for the rest of the platforms that are not KYC strict, such as OKX and Kucoin.

[Maus0728]

[1] https://github.com/lukeliasi/binance-dca-bot

I will look at the code, but it will be nicer if you develop it for the rest of the platforms that are not KYC strict, such as OKX and Kucoin.

Hey! I didn't make it!

I'm just recommending it to you because I think it's a good resource, especially for someone like me who is learning to code with Javascript. Plus, it will help me practice and apply the concept I've learned throughout the course.

I only have a basic understanding of algorithms, therefore I'm still not heavily involved in some of the technical aspects of this bot..

[teosanru]

Almost all of us know DCA's strategy and for more I quote the definition

Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals.

Is there any way to do it automatically, meaning that I deposit 1000 USDT/ANY COIN, and the platform automatically buys (or place buy order) every week at five o’clock, for example, or every day at four o’clock with an amount of $100 instead of relying on the price of Bitcoin

I think you'll find many bots doing this, this isn't a very big or complicated strategy to be coded into any bot, but should you go with a bot? I don't really think so, preferably go for Manual DCA only it's not that tough all you have to do is keep on buying a certain percentage on every fall in price. Bots are scary not only there are chances that bots can run into bugs there are major chances that bots might also not be very safe from hacking etc. Go for manual DCA.

[tranthidung]

DCA is better to use when price drops to 20% or 30% so I think it is very applicable to do it manually. People must prepare money and wait for chances to do DCA manually. Sometimes, they DCA no matter what price movement is and when they see -20% or -30% drop, they don't have money in hands to DCA.

You can set up buying orders on exchange manually, and wait. I don't think we actually need DCA service or bot for this investment approach.

[Husires]

You can set up buying orders on exchange manually, and wait. I don't think we actually need DCA service or bot for this investment approach.

Manual purchase may be the easiest solution, but it requires that emotions intervene and therefore will affect your decisions. For example, if you think that tomorrow the price of Bitcoin will be cheaper, you will sell now and vice versa.

Unfortunately, when people lose, they withdraw all their money, and therefore greed and fear are the biggest threat to trading withered.
The automatic DCA forces you to save and the amounts will be deducted directly from your account.

[logfiles]

DCA is better to use when price drops to 20% or 30% so I think it is very applicable to do it manually. People must prepare money and wait for chances to do DCA manually. Sometimes, they DCA no matter what price movement is and when they see -20% or -30% drop, they don't have money in hands to DCA.

You can set up buying orders on exchange manually, and wait. I don't think we actually need DCA service or bot for this investment approach.

The whole purpose of DCA is to buy an asset at a specified time interval, regardless of the price of the asset. Once you start waiting for price dips in order to purchase the asset, even of which they are random, then that's not DCA.


A trading Bot like 3commas.io also has an option for DCA

[LoyceMobile]

There's a Dutch service that offers this, through SEPA deposits, but if that doesn't work for you I won't mention the name.
Some instant exchangers offer a "fixed" exchange pair, where you can deposit several times to the same address. But you'll still need to manually schedule the deposits.