Buy IOTA automatically – mothly, weekly or even daily
Bitpanda offers the possibility to set up savings plans on cryptocurrencies.
Savings plans are known from shares, for example, where a certain amount is automatically invested in a share or ETF every month.
Thanks to Bitpanda, this is now also possible with all the listed cryptocurrencies on their exchange.
Of course, IOTA can also be saved in this way.
Starting from 25Euro such a savings plan can be furnished.
Here it is left to one freely whether one would like to buy monthly, weekly, bi-weekly or even daily.
The amount is simply debited from your bank account and the coins appear in your Bitpanda wallet.
When you set up the savings plan, you can even enter the exact day and time of the purchase.
Settings can be changed at any given time and the savings plan can of course be cancelled at any time and has no minimum term.
The advantage of such a savings plan is the so-called “cost average effect“.
Here you “swim” with the market.
So you buy sometimes at higher prices, sometimes at lower prices, which results in an average price.
The advantage of this buying method is that you don’t time the market, which in most cases doesn’t work anyway.
The risk of buying at all time highs decreases – but of course also the chance of buying the bottom.
But you will have a nice average price, which is prefered by many investors.
Your savings will appear in your Bitpanda wallet, from where you are free to transfer them to your own wallet or swap them for e.g. to other cryptocurrencies.
If you don’t want to continue with your plan, you can easily cancel it and buy your favorite currencies with the accepted local currencies and other payment methods, as usual.
Further information can be found on the Bitpanda website.