You can finally sit back and relax when it comes to trading crypto. Abra just released a new, simple feature to automate your crypto trading experience on Abra — recurring transactions.
Our recurring transaction feature enables you to schedule automatic ACH deposits from your bank and execute recurring crypto trades on the Abra app.
Recurring transactions give you full control and flexibility, making your crypto journey quick and easy.
Sit Back and Invest
When scheduling recurring transactions, all you need to do is choose the crypto you want to buy, choose an amount, and then choose how frequently you want to buy the asset — weekly, twice a month, or monthly. It’s up to you.
Abra will then automatically repeat that purchase until you change or cancel it. This feature makes it easy to build good saving habits or use Dollar Cost Averaging to mitigate the risk of volatility in the crypto market.
What Is Dollar-Cost Averaging?
Dollar-cost averaging (DCA) is a trading strategy in which you purchase a specific amount at a set time interval — no matter the market conditions.
The idea behind DCA is that you don’t overreact when the value of your portfolio increases or decreases.
You’re simply focused on the long-term market trajectory, with the hope that the value of your portfolio increases over several months or years.
An automated DCA strategy is useful if you have a set amount that you want to trade, but don’t want the burden of trying to time the markets to trade all at once. Spreading out your trades over weeks or months makes it less likely that you purchase during all-time highs or local highs.
How Recurring Transactions Work — ACH Deposits
Here’s a look at how it works:
- Open up the Abra App
- Click on “Add Money”
- Then click on Bank ACH Transfer
- Once you’re on that screen, you can choose the asset you want to buy, and the amount.
- Now, right below the amount, you’ll see “Schedule.”
- And from there, you can set the amount and frequency — again weekly, twice a month, or monthly — for your recurring ACH deposit.
How Recurring Transactions Work — Crypto Trades
Here’s a look at how it works:
- Open up the Abra App.
- Click on “Exchange”
- Click on “Schedule a recurring transaction instead” at the bottom of the screen.
- On the “Exchange from” screen, select a cryptocurrency you want to sell from the list. You must already have an available balance of that cryptocurrency in your Abra wallet.
- On the “Exchange to” screen, select a cryptocurrency you want to purchase.
- Finally, on the “Exchange asset” screen, you can set the amount and frequency — again weekly, twice a month, or monthly — for your recurring crypto trade.
Recurring Transactions Limits
Please be advised that there are limits to how many transactions and the amounts you can purchase.
There is a maximum of five simultaneous recurring transactions allowed per user.
The daily minimum is $5 per transaction, and the maximum is $20,000 per day across all scheduled transactions per user.
Recurring ACH deposits are only available in the U.S. Recurring crypto trades are available in the U.S. and globally.
Try Abra Recurring Transactions Today
Once you’re on the app, be sure to try out the new feature by scheduling recurring transactions for ACH deposits and/or crypto trades.