The team at Coinbits wanted to bring you the best possible DCA experience. Over the past two months, we’ve been hard at work building something new for you.
Today, we're excited to announce the launch of Coinbits Saving Habits.
What is Coinbits Saving Habits?
Saving Habits is a feature that empowers you to save in bitcoin by making scheduled, recurring buys of bitcoin on a daily, weekly, biweekly, or monthly basis. This allows you to harness the power of dollar-cost averaging.
How do I create a Saving Habit?
Follow this video tutorial to activate your Saving Habits in less than five minutes.
For first time creations: You can create a new Saving Habit by clicking on the “new” button inside the Saving Habit section.
For more creations: The “new” button will appear on the top right side of Saving Habits.
You can then customize the amount you want to purchase, along with the frequency and start date.
Once you have selected the amount, frequency, and start date, click “continue”. This will take you to an overview of the Saving Habit.
Here, you’ll need to acknowledge information regarding the Saving Habit by checking the checkbox.
Note: For a daily Saving Habit, funds will be pulled for the week and bitcoin will be bought daily.
How is it different from Round Ups?
Saving Habits allows you to make scheduled, recurring buys of bitcoin on a daily, weekly, biweekly, or monthly basis. With Round Ups, your change is rounded up weekly and used to save in bitcoin.
If you have both Round Ups and Saving Habits turned on, you will be making two different transactions.
What are the Saving Habits fees?
There is a 1% ACH processing fee incurred for any Saving Habits transaction made on Coinbits. If you want to learn more, we have an explanation of Coinbits fees on our fees page here.