Here is something that can transform your cryptocurrency investment journey. Investing in cryptocurrency can be tricky, especially when prices keep going up and down without warning. But here’s some good news – Bybit has created something called Auto-Invest that makes everything much easier.
In this guide, I will explain what Auto-Invest is, why it’s good for you, and how to use it. Even if you’re just starting with crypto, you’ll understand everything clearly.
What is Bybit’s auto-invest?
Auto-Invest is like having someone who helps you buy cryptocurrency automatically. Instead of sitting down every day to check prices and buy manually, this tool buys crypto for you at times you choose. It uses something called dollar-cost averaging (DCA).
Let me explain DCA in simple terms – you put in the same amount of money regularly, no matter what the price is. This way, when prices are high, you buy less, and when prices are low, you buy more. It’s that simple. This helps you deal with those times when crypto prices change too quickly.
Note: Go here to get started on auto-invest
Why should you use auto-invest?
Here are the main reasons why Auto-Invest makes sense:
- It keeps you disciplined: Once you set it up, Auto-Invest keeps buying crypto for you automatically. You don’t have to remember or worry about forgetting. It just works.
- It reduces your risk: We all know crypto prices change all the time. With Auto-Invest, you don’t have to worry about buying at the wrong time. The system buys regularly, so you get good prices and bad prices – it balances out.
- It gives you more free time: Instead of always checking prices on your phone, Auto-Invest does the work while you focus on other things.
- You stay in control: You can change or stop your Auto-Invest plan anytime you want. It’s your money, so you decide what happens.
How to set up auto-invest on Bybit
Here’s how to start:
Step 1: Get your account ready
Sign in to your or sign up for a Bybit account if you are new. If you are new, after signing up, you have to verify your information by completing a fast KYC.
Step 2: Find auto-invest
You can visit the auto-invest page directly by clicking here. But if you want to find it on the platform by yourself, there are 2 ways you can access the Auto Invest feature on Bybit. The first is to click on Buy Crypto then click on the auto-invest feature. Please see the screenshot below:
The second option is to go to Bybit spot trading page then click on tools and you will see auto-invest. See the screenshot below:
Step 3: Set up your plan
Now, you need to:
- Choose how you want to pay (with regular money or crypto)
- Pick which cryptocurrency you want to buy
- Decide how much money you want to invest each time
- Choose when you want to buy (every day, week, or month)
Take your time to check everything properly.
Step 4: Start your plan
After you’re sure everything is correct, accept the rules and start your plan.
How to manage your auto-invest plan
You can easily control your investment:
Want to Change Something? Just go to “Plan Details” and change whatever you need to.
Want to Stop? You can stop anytime you want, no problems.
Important Things to Remember
Before you start, keep these things in mind:
Always have money ready: Make sure you have enough money in your account for the automatic purchases. If you miss three purchases because you don’t have money, the plan will stop.
Know about the fees: Setting up Auto-Invest is free, but you still pay the normal fees when buying crypto.
Different rules for different places: Some countries have special rules:
- If you’re in Russia or Belarus, you can only use RUB
- If you’re in the Netherlands, you can only trade certain pairs
An example of how Auto-invest works
Let’s say you want to buy Bitcoin. You can set up Auto-Invest to buy $100 worth every month. If Bitcoin costs $50,000 or $30,000, the system will still buy $100 worth each month. This way, you don’t have to worry about buying at the wrong time.
Conclusion
Bybit’s Auto-Invest is perfect if you want to invest in crypto without stress. It works well whether you’re just starting or you’ve been buying crypto for a long time.
If you want to start, just log in to your Bybit account and set up Auto-Invest. It’s easy to use and helps you build your crypto investments step by step. If you need more information, you can check Bybit’s questions and answers about Auto-Invest.
Remember, the best way to invest is not by trying to guess the perfect time to buy, but by being consistent. Auto-Invest helps you do exactly that.
