What is DCA?
DCA stands for Dollar Cost Averaging, an investment strategy in which the total amount to be invested across periodic purchases of a target asset. The goal of DCA is to reduce the overall impact of volatility on the price of the target asset.
How does it work on Tokenize Exchange?
DCA feature allows you to automatically make purchases periodically (daily, weekly, monthly).
For example, you choose the monthly option. Next, you will be able to choose which day of the month you want to buy. For instance, 1st day of every month. Then, you’ll choose the time, eg, 6 pm.
Then, at 6:00 PM 1st monthly, it will auto buy at whatever price (Auto place makes order).
For the weekly option, it will process the same way, you choose the date and time. Then on the exact time & date, it will execute the order.
How to DCA on Tokenize Xchange
Step 1: Select Trade > Dollar-Cost Averaging
Step 2: In the DCA Setting, click on the drop-down list for the selection of coins. Check on the boxes to display the coins you wish to place DCA. There are 15 types of coins (BTC, ETH, XRP, BCH, LTC, TKX, LINK, DOT, KSM, ZIL, LDO, APT, MATIC, OP and SOL) in 2 types of investment (SGD and USD).
Step 3: Input the amount for one purchase, Currency, and Interval ( Daily, Weekly, Monthly ), Repeat the purchase and choose the Start date. After that, click on “Start now”.
Step 4: Confirm your DCA