BTC Markets is pleased to introduce recurring transactions to our feature-rich exchange.
Recurring transactions provide a simple and convenient way to automate the purchasing of digital assets through our easy to use interface.
Assets bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are available to buy over daily, weekly or monthly time periods.
Time of purchase can be specified so that clients can organise automated deposits from their individual Australian bank account.
Recurring transactions allow clients to divide their investments into smaller amounts over time. This strategy is known as dollar-cost averaging.
The maximum purchase amount for a recurring transaction is set $1,000.
Clients will receive email notifications if there are not enough funds in the account, or if in the event of a failed transaction. If there is a system outage/downtime during the scheduled transaction time, the transaction may not be executed.
Asset: Select the asset you wish to create a recurring transaction for.
Amount: The amount of the asset you wish to purchase in AUD.
Repeats: Specifies how often you wish for the recurring transaction to occur. Daily, weekly and monthly time periods are available.
Time of day: Allows you to specify the time of day of the recurring transaction occurs.
Time zone: Selecting your time zone by typing in the name of your capital city.
Alex lives in Perth and she wants to set up a weekly recurring bitcoin (BTC) transaction.
She first selects ‘Bitcoin (BTC)’ in the asset box. Her plan is to invest $200 per week, so she enters ‘$200’ in the amount box.
Alex wants to have this transaction occur on Wednesday at 11:00 AM each week. She selects ‘weekly’ from the repeats box, and then selects Wednesday. Alex then sets up a weekly Osko deposit for $200 at 10:00 AM each Wednesday from her bank account to BTC Markets.
As Alex lives in Perth, she types ‘Perth’ into the time zone box.
Alex then confirms the information she’s entered and approves the recurring transaction.
Video example of how to set up a recurring transaction:
Music from bensound.com.
If you have any questions about how to use our recurring transactions feature, you can contact client services here.