How to buy coins using the ‘Recurring Buy’ order type?
Our recurring buy feature allows you to specify an amount and regular frequency for purchasing any coin supported on Cointree, helping you manage volatility risks and maximise your total investment without eyes on the charts 24/7. The system will automatically buy the cryptocurrency of your choice at the time you have set in advance. To be able to use our recurring buy feature, you will need to make sure you have enough funds available in your account each time you want the buy to take place.
Below, we’ll talk you through setting up a recurring order on the Cointree platform:
To set up a recurring buy, click on ‘Buy/Sell/Trade’, then the ‘Buy Coin’ tab. This will lead you to the ‘Buy Coin’ page. Here, you’ll be able to select your order type and complete your purchase.
Firstly, you’ll need to choose the ‘Recurring buy’ order type.
Enter the recurring amount of AUD you would like to purchase of the coin in the ‘Amount’ field, then click on ‘Select a coin to buy’ to choose the coin that you would like to buy.
You can then set the date you want the recurring buy order to start in the ‘When do you want to start the recurring buy?’ field, and set the frequency of how often you want the recurring buy to occur in the ‘How often do you want to buy?’ field.
Review your ‘Buy summary’ to ensure that you are buying the right coin and that you have set the correct ‘Recurring’ time, and AUD purchase amount for the order.
The ‘Buy summary’ lists the amount you’re spending - your ‘Order amount’, the fee charged by Cointree - ‘Cointree fee’, an estimate of the amount of the coin you will be buying - ‘Coin to buy’, and the frequency set for the recurring buy order - ‘Recurring’.
You can then tick the “I accept the Cointree terms of service & refund policy” box and ‘Confirm’ to proceed with the setting the recurring buy.
You’ll get a successful message stating “Buy created” once your recurring buy has been set.
Funds will need to be available in your account for each recurring buy. You can automate some of this with your banking provider by setting up a recurring transfer for the set amount from your bank account to your Cointree wallet.
To review your recurring buy, you can visit the ‘Auto-actions’ page listed under the ‘Buy/Sell/Trade’ menu. Here you will be able to review and manage current price alerts and auto actions, and review past price alerts and auto actions.
What if I have a current recurring buy and don’t set it up?
For customers who have an existing recurring deposit set up with their bank, your AUD funds will be credited to your Cointree account. However, your trade will not be executed. All customers are required to set up new recurring orders as per the steps above.