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

First things first, you’ll need to download the Strike app, complete your signup and connect your cash via a payment method.

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 supports different frequency intervals for recurring purchases, such as monthly, weekly, daily, or even hourly, and amounts can be set as little as $0.01 or as much as is in your cash balance or as your payment method limit allows. This means you can DCA $0.01 worth of bitcoin on the hour, every hour… or tens of thousands of dollars a month. You choose.

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

1. Tap “Unsure when to buy?”
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. The bitcoin will be added to your bitcoin balance whenever your purchase executes.

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.