What is DCA?

DCA stands for Dollar Cost Average, which is an established strategy for investing, including buying bitcoin.

Rather than investing an amount all at once, a DCA strategy divides that investment into multiple smaller amounts to be invested at regular intervals. For example, instead of buying $500 of bitcoin all at once, you could set a purchase of $50 to repeat every day for 10 days.

A DCA strategy is a way some users choose to help mitigate price volatility, by buying set amounts at predetermined time intervals, regardless of the price. Whether the price goes up or down, buying regularly can help smooth-out the average purchase price that you get.

Bitcoin trading apps often have a feature that lets you dollar cost average, including with different payment amounts, frequency intervals, and payment methods. The Strike app lets you dollar cost average into bitcoin using the “Recurring purchase” feature.

How to DCA with Strike

With the Strike app you can dollar cost average into bitcoin using the “recurring purchase” feature. Recurring purchases let you automatically buy bitcoin hourly, daily, weekly or monthly.

Additionally, Strike charges no bitcoin trading fees for recurring purchases after the first week for hourly and daily buys, and starting with the 2nd purchase for weekly and monthly buys. This means dollar cost averaging with Strike can help you mitigate price volatility as well as let you save on fees.

For select countries, you can set your recurring purchase to source directly from a linked payment method, otherwise you’ll need to add cash to your balance before proceeding. The Strike app has no minimums for recurring purchases, so you can set your DCA to buy $0.01 worth of bitcoin on the hour, every hour… or tens of thousands of dollars a week. You choose.

To set up your recurring purchase, visit your Bitcoin screen and follow these steps:

1. Tap “Set a recurring purchase”
2. Set the frequency for your recurring purchase
3. Enter an amount to purchase
4. Tap “Next”
5. Select your desired payment method, if applicable
6. Tap “Confirm”

Your initial bitcoin purchase will execute immediately and the recurring purchase will be set to repeat automatically at the same approximate time according to your selected frequency. If you set an hourly or daily purchase, there will be no trading fees after the first week cycles, whereas for weekly or monthly purchases there are no fees starting with the 2nd purchase.

Once set, you can view your recurring purchase on your Bitcoin screen by scrolling down. You can cancel at any time or check out the details and limits for setting a recurring purchase here.

That’s it! Set it and forget it.