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Creating a crypto DCA

6. How to create a crypto DCA

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Aikido

September 2022 · 5 min read

With Aikido Finance you can set up a Dollar Cost Averaging bot in minutes.

What is a DCA?

Dollar Cost Averaging is an excellent technique to decrease volatility and invest for the long term. A DCA is an investment approach that divides the total investment amount into periodic purchases. This reduces the impact of volatility of a particular asset on your overall investment.

Let's assume we want to invest $2,000 in Bitcoin. We could do this with a one-off purchase or we could divide our investment amount into smaller sums so that we get an average cost over a period of time.

Rather than investing the $2,000 at once, we could invest $50 a week for 40 weeks.

How to set up an automated DCA with Aikido Finance

You willl need an account set up with a cryptocurrency broker before you get started. Aikido Finance offers seamless integration with Coinbase, Binance, Kucoin, FTX and Kraken.

Once you have that in place the process is easy. Simply connect your broker, choose your cryptocurrency, investment amount, and the period you want to place purchases.

1. Create your DCA

Log in or Launch App on Aikido Finance and navigate via Strategies to the Crypto Strategies page . From there click on Create DCA .

aikido create dca button
2. Connect your Crypto Broker

Select your cryptocurrency exchange. Currently, you can choose from Coinbase, Binance, Kraken, FTX, and Kucoin.

choose crypto broker aikido

After you have selected your broker or exchange, you will need to enter your credentials (API Key and Secret Key) to set up the integration. Details on how to find this information are shown for each broker.

enter credentials crypto dca aikido

Click Integrate and you will be set up straight away!

3. Make your selections
  • Choose your coin (eg. Bitcoin)
  • Choose your base currency (eg. USDC)
  • Choose the investment amount (eg. $10)
  • Choose the frequency (eg. Weekly)

Click Continue and away you go! Your DCA is all set up.

choose your coin aikido dca

Note: Please ensure you have funded your brokerage account with the fiat or stablecoin that you wish to create the DCA with. Your DCA will fail until you have enough funds to cover the cost of your transaction. You can create DCAs with any fiat or stable coin the exchange supports, these include USD, EUR, GBP, USDC, USDT etc.

4. Additional DCA

From the confirmation screen, you have two options, either Set Another DCA or Finish which will take you to view your new crypto DCA portfolio.

Aikido dca confirmation
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