These upcoming technologies are quite exciting, as they have come as a source of profit, confusion, and anxiety for many traders. Basically, to challenge the old system, new concepts like cryptocurrency, ICO, blockchain, and many others have come into light.
There a few crypto enthusiasts who are quite confident and striving hard to reach greater heights. Hence, it is necessary to build favourable conditions for such crypto enthusiasts. Do you know about CoinDCA?
There are many traders who are wondering about a trading platform like CoinDCA. Whether you are aware of this cryptocurrency company or not, here is the detailed review of this site to let you discover the details of CoinDCA.
So, here is the big picture…
CoinDCA was introduced by Mark Neyer. It is a cryptocurrency dollar-cost averaging platform that allows users to set up their own recurring buys using the Dollar-cost-average technique. The investment technique means purchasing a fixed dollar amount of a specific cryptocurrency, regardless the market cryptocurrency rates. Additionally, it also involves purchasing a high number of cryptocurrencies when the prices are lower and purchasing a lower number when the prices are higher.
Basically, the platform aims at financially empowering everyone by displaying them to the world of cryptocurrencies. Moreover, it claims to raise the adoption of cryptocurrencies by enabling traders. Thus Benefiting users buying small amounts of Bitcoin at zero charges
Mark Neyer decided that just periodically buying small amounts of bitcoin was something that he really wanted to do. Initially, he was using Coinbase and disappointed with the investment. Later, he had a simpler system working for his own use and realized this system may help others too.
The Platform consists of a super simple algorithm. It allows a user to create a “buy plan” to buy an “X ” dollars worth of a single cryptocurrency each day. The system comply one limit order a day for each purchase plans. However, if the order is failed to fill within an hour, the system automatically gets canceled, and a new order is created. Moreover, if your orders are below $10, which is the least value, the system will batch those orders up. So if you want to buy $1/day, the system will place a $10 order every 10 days.
Confused?
Let me clear it with an example!!
In case, if one user seek to buy cryptocurrencies worth 1$ daily, the system can place $10 order every 10 days. Thus, the traders will no longer face an issue of price drops days after their monthly purchases.
On the other hand, there’s also a deposit plan you can set up, to make sure your exchange account has a balance 0r else the orders won’t get filled. Since you need a dollar balance in the exchange to give orders, the deposit plan submits deposit requests once a month. Further, you will receive an email from coinbase when it occurs.
To begin the exchange and trading on the platform, users need to create a deposit plan. This assures the exchange account is full to avoid the canceling of orders. This is crucial because a dollar balance is necessary in the exchange account for the system to give the orders. However, users can recharge their deposit plans once a month. The purchased coins are credited into the Coinbase cryptocurrency exchange wallet instead of usual Coinbase wallet.
Quick And Inclusive: Once a user has add their API credentials and created their purchase plan, the platform automatically purchases the Bitcoin on behalf of the user by submitting the purchases each day according to the specifications of the user.
Personalised and user-friendly : Through the control panel, users can customize their purchases to meet their needs by altering the purchase plan.
No Transaction Fees : The platform knocks out the need for users to pay fees for their deposits each month. Rather, it allows them to make smaller deposits.
Excellent Protection : The platform assures total security for its users by using latest technology based digital exchanges as well as running the platform on Google cloud when submitting orders on behalf of the users.
Feasible Trading Opportunity : The platform facilitates users to make investments in leading cryptocurrencies such as Bitcoin, using a fixed amount of money frequently from the comfort of their homes since the platform will make purchase plans on behalf of the users.
As the platform is recently established it better for you to be extra vigilant and do your own research before placing an order or making an investment. Hope you found all the details you were searching for.
What are your thoughts on CoinDCA? Share your thoughts in our comments section.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
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