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2022-05-03 14:47:00

Invest Automagically – How to use Binance Auto Invest Plan

  • How do you auto invest in any crypto using Binance?
  • How to invest in crypto on autopilot?

Last week I sat down to discuss long-term crypto investment strategy. I explored many different ideas. But, during this conversation, I came across an interesting question, “What is the most important skill of an ideal investor?”.

It took me a lot of time to have a consensus on one particular skill. The skill was Discipline. Without a doubt, the simple old-school Discipline can move mountains when it comes to investments or making money in general.

So, i started exploring tools, products, or services that could build discipline in our Crypto Investment process. And the first obvious strategy was Dollar Cost Averaging (DCA), also known as Systematic Investment Plan (SIP).

Dollar-Cost Averaging (DCA) means that instead of purchasing an asset in lumpsum, you divide your total investment in a number of purchases over a period of time. For example, if you want to buy BTC worth $10,000, you would not just purchase it in one single transaction, but you would purchase it in 10 different transactions worth $1,000 each over a period of 10 weeks. This decreases the impact of volatility on your overall purchase value.

But, to execute this strategy, you would need to place multiple orders on specific dates, which could be time-consuming or even impractical. So, we found an amazing tool that can do this for you, i.e., Binance Auto Invest Plan.

Also check out: Best Crypto DCA bots

What is Binance Auto-Invest Plan?

Binance is the world’s top crypto exchange as of 2022, and they offer some of the advanced features to retail users like you and me, which earlier used to be available for institutional users only. If you are new to Binance, read CoinSutra’s earlier review of Binance exchange.

You can also watch the below video for free guide on getting started with Binance:

Moving on to Binance auto-investment plan feature..

Binance Auto-Invest Plan allows you to automate your crypto investments and it is a free feature available for everyone. Thus, bringing the discipline back into your crypto investment game.

1. BTC Auto Invest Plan

Out of available tokens, you can choose the token you want to purchase on a regular basis. Further, you can choose the amount, frequency, and exact time of your investments.

Your purchased crypto assets will be deposited in your Flexible Savings Account, on which you would also receive interest as a passive income.

Now, let’s summarise the benefits of using the Binance Auto Invest Plan.

Benefits of Binance Auto Invest Plan

The benefits of using the Binance Auto Invest Plan instead of manual buy orders are as follows:

  • Investments on Autopilot

Binance Auto Invest Plan would bring an immense amount of discipline to your crypto investment process.

  • Dollar-Cost Averaging

The periodic investment would save you from price volatility and keep your overall investment cost on the lower side.

  • Prevents bad timing

Remember that one time when you purchased a crypto token, and immediately after that, it started following. I am sure that didn’t just happen one time but many times.

In the case of the Auto Invest Plan, because you are not punching all your investment in a single transaction, you are saved in case there is a sudden fall in the prices.

  • Manage emotional investing

Another benefit of running your investments on autopilot is that it keeps your emotions out of your investing process.

  • Passive Income

Assets purchased through Binance Auto Invest Plan would be by default, deposited in your Flexible Savings Wallet, on which you would get interest income. Thus generating additional passive income for you.

Now, once you decide to use Binance Auto Invest Plan, you need to follow the below steps to execute the instructions.

How To Use Binance Auto Invest Plan – Tutorial

Step 1 – Once you are on Binance. Click on “Earn” and then click on “Auto-Invest”.

2. Binance Auto Invest

This will take you to the Binance Auto-Invest page.

Step 2 – Once you are on the Binance auto-Invest page. Select the token you want to invest in amongst the available options.

3. Binance Auto Invest

Step 3 – Follow the below steps

  1. In the search bar, type the name of the token you want to invest in. Let’s say you want to invest in MANA (Decentraland) tokens.
  2. Select the total duration of your investment plan. 3 Years, 1 Year, 6 Months, 3 Months, etc.
  3. Click on “Create Plan
4. Binance Auto Invest

Step 4 – Once you click on “Create Plan”, a window would pop up. Follow the below steps

  1. Select the stablecoin (USDT / BUSD) you want to use for the plan
  2. Enter the amount per transaction. We have used 10 USDT in this example.
  3. Select Recurring Cycle. (Daily, Weekly, Bi-weekly, Monthly)
  4. Select the time of transaction
  5. Agree to Binance Auto Invest Agreement
  6. Click on “Confirm
5. Binance Auto Invest

Once you click on Confirm, you will be all set.

Step 5 – Additional Step

You can see your active Auto Invest Plans on the same screen.

6. Binance Auto Invest

Conclusion – Binance Auto Invest Plan

So, this is how you can use Binance Auto Invest Plan and bring discipline to your crypto investment process. Further, you will also be able to earn passive income on your assets through a flexible savings plan.

Although, there are also a few DCA (Dollar Cost Averaging) bots that you can use for this process. However, Binance provides you with the easiest user interface so that even a beginner can use and take benefit from it.

I hope this post was helpful for you. Let me know in case you have any questions regarding the whole process. Further, If you have not already subscribed to our newsletter, then please do. As a starter pack, you would also receive a Free Crypto Trading Ebook.

I’ll get back to you soon. Till then, Peace Out!

Can you set automatic buys on Binance?

Yes, you can. You can use Binance Auto Invest Plan to automate your buy orders.

How many Auto Invest Plans Can I subscribe to?

There is no limit to the number of Auto Invest Plans you can subscribe to.

How to do DCA on Binance?

You can use Binance Auto Invest Plan to spread your total investment in a number of orders over a period of time.

Does Binance have automated trading?

Yes, you can either use Binance Auto Invest Plan or the Recurring Buy option. Binance Auto Invest is to invest with stablecoins such as USDT or BUSD. Recurring buy is to invest with Fiat Money

News appeared first on: Coinsutra.com

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