How to set up an automatic investing on Binance
2 min readBinance brings a long-awaited novelty, which is very much lacking in the crypto world. Automatic investing is a very popular thing, especially for newcomers, but also for stable cryptocurrency fans who want to buy cryptocurrencies based on various DCA strategies. It is now possible to set up an automatic purchase on the Binace exchange very easily and with a few clicks. In this tutorial we will show you how.
The Binance Exchange is currently the largest and one of the most trusted exchanges in the crypto world. That is why it can be expected that this is where the trader and the investor should feel at home. But one important service was missing, namely automatic investing. Many people do not have time to be on the exchange practically every day or week to be able to invest on the exchange on a regular basis. The exchange therefore came up with an automatic investing service. Just with one click you can set how much and how regularly I want to buy and the bots on the Binance exchange will already do everything for us.
Procedure for automatic investing
If you don’t have a Binance account yet, make one. Subsequently, once you have an account, you need to have the stable cryptocurrency BUSD, or USDT, on the exchange. It is through these 2 currencies that you can make an automatic investing.
Now that we have bought stable coins, which have a value of 1: 1 against the US dollar, for example, we can go to the Earn and Saving section in the menu.
Now we come to the autoinvest section, where we see some cryptocurrencies in which we can invest. At the same time, the exchange also shows us the performance for the last period set by us. In this case, we have set 3 years. This appreciation does not guarantee a return for the following years. This is a historical gain for the last period. On the other hand, the cryptocurrency, which has recently shown stable performance, has relatively great potential in the future.
Click on create a plan or even create an investment plan. We then enter the amount and in what currency we want to actively buy. We can even specify how often and which hour we want to buy on a given day.
There is also a section on the right Use Flexible Savings Balance. We recommend checking this, we will get it later passive income from staking which is around 5% per year. But if we pick up coins for a different wallet once a week, for example, it is useless.
Now we have everything set up. All you have to do is wait for the first active purchases to start.
