You asked, and we built it: recurring buys are now available on Metal Pay!
Recurring buys means more than just an easier way to stack crypto: it unlocks an entirely new investment strategy for Metal Pay users interested in growing their cryptocurrency holdings.
Why this matters
Sometimes, the time is just right, the price is looking good, and you decide to buy more of a certain cryptocurrency by watching the charts / social media chatter. This is a common investment strategy, and something most of us have tried at least once. But other times, you just want to buy a certain amount of cryptocurrency at regular intervals, regardless of what the moment-to-moment price action is doing.
This is known as Dollar-Cost Averaging (DCA).
Dollar-Cost Averaging is often seen as a more responsible, reliable, and strategic investment approach. When you DCA, you set up a recurring buy or a certain amount of money for a particular asset at regular intervals. For example, you may set up a DCA schedule of buying $100 worth of Bitcoin every two weeks, or $50 worth of XPR every week, or $600 worth of MTL every month.
It’s also worth mentioning that Metal Pay allows you to convert some of your salary directly into cryptocurrency! Just set you recurring buys to coincide with the direct deposit of your paycheck into your Metal Pay Cash wallet – which has its own unique account / routing number, with FDIC insurance through our partner bank. This means your investment strategy can become automatic, and part of your salary can get converted into crypto before you even notice that you received it.
Whatever your timeframe, whatever your budget, Dollar-Cost Averaging helps you stick to your convictions, accumulate cryptocurrency, and reduce the stress of trying to time the markets.
Some of you might already use the Dollar-Cost Averaging trading strategy on Metal Pay by manually opening the app on particular days to buy certain amounts of crypto. With the new recurring buy feature on Metal Pay, we simplify this process by creating a set-it-and-forget-it option: just set up the recurring purchase, choose the time, amount, and asset, and never worry again. Your purchases will automatically execute, and your crypto stack will continue to grow at regular intervals.
With Metal Pay, Dollar-Cost Averaging has never been easier.
How recurring buys works on Metal Pay
Step 1: Tap the Crypto card on your Metal Pay app
Step 2: Select the cryptocurrency you want to purchase
Step 3: Tap buy, and enter the amount you’d like to purchase
Step 4: Select the dropdown menu that says “One time purchase”
Step 5: Decide the frequency you’d like to make this transaction: Once, Daily, Weekly, or Monthly
As you can see, it’s never been easier to exercise the Dollar-Cost Averaging investment strategy using your favorite crypto trading app.
Have you downloaded the Metal Pay app yet? If not, there’s no better time than today – download the iPhone Metal Pay app, or the Android Metal Pay app, in just a few clicks. Be sure to follow Metal Pay on Twitter to get the latest updates and announcements, you won’t want to miss what’s coming next.
🤘 Your friends at Metal 🤘