Recurring Buy is a feature on the Bitfinex Mobile Lite application that allows you to automate cryptocurrency purchases. With Recurring Buy, you can schedule regular automated purchases of a particular cryptocurrency over daily, weekly, and monthly periods.
Recurring purchases simplify the process of Dollar-Cost Averaging (DCA), allowing you to quickly invest a chosen dollar amount in the cryptocurrency you want to purchase on a regular basis. Through the Recurring Buy feature, you can build your long-term cryptocurrency portfolio over time and monitor the history of purchases under Account > Reports.
Note: Once you set Recurring Buy orders, your cryptocurrency orders will be automatically executed with a Market order according to the parameters you have defined. This means that the purchases will occur regardless of the current price of the cryptocurrency as long as your account has sufficient funds to cover the transactions.
How to set up a Recurring Buy Order
1. Open the Bitfinex Mobile app in Lite mode and log in to your account.
2. Select the Trade tab.
Choose the cryptocurrency you want to purchase and tap Buy.
3. You can then fill out the amount.
Alternatively, you can select the 25%, 50%, or 100% to allocate your available balance.
4. Configure Recurring Buy parameters by changing the default One-Time setting to daily, weekly, or monthly.
5. Here, you can also select the day and time for the recurring purchase. Tap Confirm to save your preference.
Important: A Recurring Buy order cannot be set when there is an existing Recurring Buy order with the same amount, interval, or frequency.
6. Tap on Review Buy to initiate the order.
7. Great! Now your order will appear in your Recurring tab, showing information about your Recurring Buy order. You can also tap on the order and cancel if you wish.
8. Once your order has been executed, the funds will be credited to your Exchange wallet.
Note: Please ensure that your account maintains an adequate balance in your Exchange Wallet to support your Recurring Buy orders to prevent any interruptions in your scheduled purchases.
If you have any questions, please feel free to reach out to Bitfinex Support. We are happy to help!