How to perform recurring buy?

Publisert 20. mars 2023Oppdatert 29. jan. 20262 minutter å lese43

What is dollar-cost averaging?

Spot recurring buy is a trading bot where you invest a fixed amount in a selected cryptocurrency portfolio at regular time intervals. When the marketplace is volatile, using an appropriate recurring buy trading bot can help average out your purchase costs. Once created, the recurring buy trading bot does not allow modifications to the amount or timing.

How to perform recurring buy?

1) Create a recurring buy

On the OKX app homepage, click on Trade > Trading bots to enter the Bot Marketplace. Select All > Recurring buy. Next, go to the bot creation interface to set the cryptocurrency, recurring buy period, and other details. Tap on Create.

Note:

You can choose up to 20 cryptocurrencies for recurring buy. OKX currently supports USDT and USDC as the assets for purchasing.

2) Stop the recurring buy

Select Trading bot > Recurring Buy, select the bot you want to stop, then tap Stop.

The recurring buy now supports setting a price range. This feature allows customers to automatically run their investments only within the specified price range, eliminating the need to manually stop the bot when prices exceed the range.

  • Example of application: If you set a 20,000 USDT buy price for BTC, the recurring buy bot will only buy BTC when the price is greater than or equal to 20,000 USDT.

  • Setup method: When creating a dollar-cost averaging bot, set your price range for specific cryptocurrencies in the Advanced Settings, including the minimum and maximum prices. If you do not set these, it will be considered unlimited.

  • Note: This applies to bot created manually, but not to bot history.

Important notes:

  • Funds reminder: Please ensure you have sufficient funds before each recurring buy time to avoid recurring buy failures.

  • Trading account risk warning: After making a recurring buy, please be aware of the risk of forced liquidation due to changes in asset value in your trading account.

  • Alert for unusual situations: If the cryptocurrency encounters unforeseen issues such as suspension or delisting during the recurring buy bot, the bot will stop automatically.

  • Risk warning: Please read the OKX dollar-cost averaging product description thoroughly. Assess your risk tolerance and make informed decisions.