Is Automatic DCA accumulation possible in Nigeria. I’m just hearing about this.

[Rubuchi]

I say make I drop this one for here. Yesterday I made a post about the 2026 Bear Market, let’s have a real talk about the DCA approach this period where I discussed about how people do find it difficult to keep accumulating their bitcoin investments despite knowing there is the DCA approach which many people are talking about here as an alternative to beat uncertain periods like the one we are currently experiencing and a response actually trapped my attention and I’m just wondering how does he do it or maybe is it because I am not familiar with it or is it a feature that it is not everyone like me and you can tap into because I’ve never heard of it from a friend before, OgNasty said:

I setup an automatic DCA to purchase BTC on the first of every month for the next 2 years.  If the price drops below $50K with a strong capitulation signal around September of this year I may back up the truck and make some market buys.

I'm wondering how realistic is it for us here as Nigerians with the Naira volatility and other banking issues like transaction failures etc. it looks like in foreign countries, as an investor you can just easily schedule a monthly auto buy DCA like a subscription and forget about it, but even our income here in Nigeria can affect the stability of achieving such.

From what I think I know, most of us are doing manual DCA which is any time we see an alert, we buy and when life gets tough, we pause and that’s our reality but if I may also engage us, has anyone here successfully set up an automatic bitcoin DCA accumulation here without stress and how did you go about that so we can also learn and avoid manual DCA which sometimes influences our decision negatively or we should just accept our faith here that our environment doesn’t give us a better option aside the manual DCA which we are all used to?


Since this is the local board the dollar cost average (DCA) which is a general term can also be taken as Naira Cost Average (NCA)

[ZeroVinsonN]

I might be wrong but I don't think this is very realistic here in Nigeria, this is because platforms that support automatic withdrawals to a self custody wallet is not something that is available yet here, and I'm talking about withdrawal to a wallet because you can not buy automatic with a wallet but instead you will need to use an exchange for that and lost or the exchange we use here in Nigeria are not open source so it's not very good to just leave your bitcoin there, so how does automatic DCAing work? You use and exchange that supports automatic buying of bitcoin (not just bitcoin of course but we are only taking about bitcoin here, I think) and set it to buy at a particular time of the month or week while the automatic withdrawal to the wallet kicks in as well, like I already said this is all being done by the exchange and not the wallet and like I also said I haven't seen any exchange in Nigeria that support automatic deposit from it to a wallet unless you are planning on doing all of this from Europe and the US.
Or you could just use a bot to do the whole thing for you, this is very dangerous though because you are giving withdrawal access to a bot but if you are going to do it then the bot can trigger a withdrawal after each buy automatically to your wallet. If you are doing this then the best you can hope for is for you both to not get compromised which means that you probably have to write it yourself as a thirdparty bot will not be able to offer the same level of security since someone else can access it's functions, another setback here is that you will have to write the programme yourself and not everyone is that tech savvy.
Just stick to automatic withdrawal if you exchange already support automatic buying, it might not offer the same level of smoothness as having everything automated but it's better to be safe than sorry.

[Kelward]

Authomatic DCA de possible in di sense that you can set the feature for scheduled payments from your bank app to an account or different accounts and on the scheduled date so far money de for your account di amount go authomatically comot and credit those accounts. You fit to make arrangement with a second party wey you de buy your Bitcoin from so dat immediately wey your naira de hit im account im go send di equivalent of di rate into your Bitcoin wallet. Anoda method be say f you get special account wey you de from collect money to buy your Bitcoin you fit to also de make scheduled payments into the bank account. Dat na di level wey I know reach wey a Bitcoin investor fit to de do authomatic DCA accumulation. I no know if exchanges get any features like that wey person fit to de buy Bitcoin authomatically, na only through p2p transactions I de aware of.

[CryptoHeadlineNews]

From what I think I know, most of us are doing manual DCA which is any time we see an alert, we buy and when life gets tough, we pause and that’s our reality but if I may also engage us, has anyone here successfully set up an automatic bitcoin DCA accumulation here without stress and how did you go about that so we can also learn and avoid manual DCA which sometimes influences our decision negatively or we should just accept our faith here that our environment doesn’t give us a better option aside the manual DCA which we are all used to?

When it comes to automated buying of Bitcoin of Bitcoin at a certain interval of time, I literally don't think there is any platform that offers it currently with the use of our Naira fiat bank. But I stand to be corrected if anybody knows about it and have been able to make automatic purchases of Bitcoin directly from their bank account via using either VISA or MasterCard smoothly. But what I know is the manual method whereby you could just set an alert from your wallet or exchange app to alert you when the price of Bitcoin rise or fall to a certain amount, and then you rushes to buy or sell manually. And also, with the use of "Stop lose and Take profit" feature on exchanges. It could help you buy and sell directly from your exchange app, but that doesn't buy directly from your fiat bank app.

Authomatic DCA de possible in di sense that you can set the feature for scheduled payments from your bank app to an account or

Okay, so which Naira bank app were you able to use to schedule such payment automatically? Because I'm interested

[Charles-Tim]

I do not know the reason you are not calling it naira cost average (NCA) if the discussion is in our local board. We are spending naira and using it to pay salaries in Nigeria.

Yes, automatic NCA is possible. It is not about the country that you are. If you have high amount of money, you can begin automatic NCA.

Do you think there are no average to rich people in Nigeria? There is wealth in Nigeria.

[Sticky Bomb]

From what I think I know, most of us are doing manual DCA which is any time we see an alert, we buy and when life gets tough, we pause and that’s our reality but if I may also engage us, has anyone here successfully set up an automatic bitcoin DCA accumulation here without stress and how did you go about that so we can also learn and avoid manual DCA which sometimes influences our decision negatively or we should just accept our faith here that our environment doesn’t give us a better option aside the manual DCA which we are all used to?

I've checked on cake wallet that I use for holding USDT for this feature but it's not existent, I think the best option would be using some sort of a third party app for the automated buys like Coinbase and use their recurring buy feature to set your duration of buys and use your non-custodial wallet address as the withdrawal destination, although it's better you'll do the withdrawal manually to ensure more security.
Checkout this article.
https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-can-i-create-or-cancel-a-recurring-transaction.

But unfortunately, I'm not sure you can use your Naira directly to buy on Coinbase, but you could still buy USDT through Bitget or Bybit and send it to your account as holding funds for the recurring buys.

[Zaguru12]

Yes, automatic NCA is possible. It is not about the country that you are. If you have high amount of money, you can begin automatic NCA.

Do you think there are no average to rich people in Nigeria? There is wealth in Nigeria.

I also think wealth wise the automatic Naira cost average is possible because it’s doesn’t actually fixes a certain price that you should use, I can be on a monthly salary of as low as 100,000 Naira and then decides to use 20,000 Naira, more or less as my average monthly.

The real question that I think OP is asking is that is it actually feasible in Nigeria to have this automated? Just like cryptoHeadlineNews pointed out I don’t think there is any platform for that because we are all know we are yet to have direct interaction between our banks with exchanges even after relaxation of the countries laws to cryptocurrency. So for me everything is still Manual just like it is in most countries too.

But unfortunately, I'm not sure you can use your Naira directly to buy on Coinbase, but you could still buy USDT through Bitget or Bybit and send it to your account as holding funds for the recurring buys.

I wanted someone to point this out because here lies the problem, will you be willing to entrust your funds to an exchange and leave everything there which goes against self custody and you know the risk involved in that. Or you’re actually going to be sending in those funds timely yourself? If so isn’t this as good as a manual method?

[Jubilee58]

Buying Bitcoin automatically using DCA is possible, and their is a way it works, you will need to connect your ATM card to the platform you are using, and you will be required to schedule how frequent you want to be buying and  the amount of money they will be deducting from your account, it could be daily, weekly or even monthly, and whenever the scheduled date reaches, they will automatically deduct the money. This method gives you less stress while investing in Bitcoin. Furthermore, this automatic DCA is very common among cryptocurrency exchanges such as binance, bybit etc; and is not practicable to wallets that are not connected to the internet.

[Loyang]

It is completely up to the investor to choose which method he wants. But I personally prefer manual. Because many times it is seen that our expenses increase unexpectedly, if I do not have money at that time then I have to sell the investment prematurely and if the investment continues to fall then I have to face a loss. So manual buying is very preferable for me.

However, this method can be very beneficial for a high-income person. For example, many people have very big businesses and it is very difficult for them to find time, and if they fall into any kind of financial crisis then there are many types of funds and people to deal with that crisis. If these people use this method then it will be very good for them. It will be beneficial for them

[Creeper0]

First of all, my financial situation is not suitable for automated DCA, and I don’t even trust any program in financial matters. So I still prefer manual financial matters and complete transactions manually. Country-wise, this is not possible in Nigeria at the moment. Even if the volatility of the naira is excluded, I cannot use my bank account directly to buy Bitcoin due to government restrictions.

Buying Bitcoin requires P2P, I don’t think any exchange has or will launch automated P2P. When you have a lot of money and Bitcoin buying and selling is completely free in your country, then you can consider automated DCA. I am comfortable with manual DCA and may not change in the future, especially to stay active with the market.

[Fiatless]

From what I think I know, most of us are doing manual DCA which is any time we see an alert, we buy and when life gets tough, we pause and that’s our reality but if I may also engage us, has anyone here successfully set up an automatic bitcoin DCA accumulation here without stress and how did you go about that so we can also learn and avoid manual DCA which sometimes influences our decision negatively or we should just accept our faith here that our environment doesn’t give us a better option aside the manual DCA which we are all used to?

For now, the Naira is performing absolutely well against the dollar. And has not experienced high volatility for more than one year now. So it is no longer an excuse.

With proper planning, automatic DCA is possible in Nigeria. If they can have a substantial emergency fund, salary earners or profitable business owners can buy Bitcoin consistently without restrictions.
Some of us here are privileged to DCA with the money we earn on this forum. Since we have full-time jobs outside, forum earning is strictly for DCA.

[Jamestown70]

From what I know, I’ve not come across any platform that those automatic DCA, I do it manually, set an alarm on a time plan for monthly reminder, when it get to that time of the month, despite the current Bitcoin price I buy as my discretionary fund can carry. To some extent I don’t feel safe with a third party (bot) having access to DCAing for me. So even if there were to be automatic DCAing, I would prefer the manual DCAing just to be on a safer side.