What is Recurring Buy?
The Recurring buy feature allows you to set up automatic cryptocurrency purchases at regular intervals into any cryptocurrency or CoinJar Bundle of your choosing, using your EUR account, debit or credit card, to ensure your portfolio is diversified.
You can easily set up a recurring buy schedule from within the CoinJar app and begin adding funds to using the Dollar Cost Averaging (DCA) method.
Note: Recurring Buy is only available to CoinJar members who have completed ID Verification (KYC).
Benefits of Recurring Buy with CoinJar:
- Allows you to spread your purchases across high and low prices, which reduces your chances of buying at market tops
- Set, schedule, forget: CoinJar will automatically buy into the cryptocurrency at the frequency you have selected
- Start with small amounts: DCA does not require a large upfront investment
How do I set up my first Recurring Buy?
If you're using CoinJar app:
There are 2 options to access and set up a Recurring Buy in the CoinJar app.
Option 1: Using the Trade button
Tap Trade, select Buy, then click the "One-Time" dropdown menu.
Select "Recurring" as your order type, then set your preferred order amount. The minimum amount is €20 EUR.
At the Pay with section, ensure you select an existing cash account or you can link a new credit or debit card.
At Schedule, set your preferred interval. You can choose either "Weekly", "Every two weeks", or "Monthly". Then tap Review Order to proceed.
On the Review page, ensure to check if all details are correct and tap Confirm. You’re all set!
Option 2: Using the Portfolio button
Tap Portfolio, then select the Upcoming Buys tab:
Select Start Recurring Buy to begin setting up a new Recurring Buy.
From here, you can follow the same steps above (from Option 1) to set your preferred amount and intervals:
If you're using CoinJar web:
There are 2 options to access and set up a Recurring Buy on CoinJar web.
Option 1: From Trade panel
At the Trade panel on the right of the page, select Buy, then click the "One-Time" dropdown menu.
Select "Recurring" as your order type, then set your preferred order amount. The minimum amount is €20 EUR.
At the Pay with section, ensure you select an existing cash account or you can link a new credit or debit card.
At Schedule, set your preferred interval. You can choose either "Weekly", "Every two weeks", or "Monthly". Then tap Review Order to proceed.
On the Review page, ensure to check if all details are correct and tap Confirm. You’re all set!
Option 2: From Portfolio page
Head to your Portfolio page, scroll to the middle, and select Upcoming Buys
Select Start Recurring Buy to begin setting up your Recurring Buy.
From here, you can follow the same steps above (from Option 1) to set your preferred amount and intervals.
How do I edit a Recurring Buy?
To view and edit your existing Recurring Buys, tap Portfolio, then select the Upcoming Buys tab:
Here you can view your existing Recurring Buy schedules or set up a new schedule.
At Manage Recurring, more detail about the Recurring Buy schedule is shown here with options to Pause, Edit or Cancel the schedule.
Tap the "Active" toggle to Pause your Recurring Buy which will put a temporary hold on new payments. You can resume at any time.
Selecting Edit schedule allows you to change the amount, interval or next payment date.
If you make any changes here, be sure to click Save changes.
To cancel your Recurring Buy, select Cancel Recurring. This will show you a screen asking if you are sure you want to proceed.
If you are sure, click the Confirm button.
Frequently Asked Questions
What payment methods are available for recurring buy?
CoinJar currently supports recurring buy purchases from your Cash Account.
How often will purchases be made?
Recurring buy can be configured for weekly, fortnightly and monthly schedules at this time.
When will my purchase be processed?
Your first transaction will take place when you set up the transfer schedule.
After your initial purchase, your recurring transfers can be changed to a date that best suits you.
You'll find these transfer schedule settings in your bundle under the "Recurring buy" section.
How many recurring buy can I set up?
You can only set up one recurring buy per cryptocurrency.
What’s the minimum amount for recurring buy?
The minimum recurring buy amount is €20.
What’s the maximum amount for recurring buy?
A maximum recurring buy limit of €2,000 per transfer (regardless of the transfer frequency selected) applies. At this time, CoinJar only supports one recurring buy schedule per cryptocurrency.
Can I set the exact amount of crypto that I want to purchase?
At this time, it's not possible to set an exact amount of cryptocurrency to be purchased.
CoinJar automatically calculates the cryptocurrency amount to be purchased on the day and time that the purchase takes place.
The purchase amount is set based on the schedule when you set up the recurring buy.
At what price will CoinJar place a buy order?
The price that’s displayed in the CoinJar App on the day, and at the time, that the purchase takes place, is the price CoinJar places a buy order at.
What happens if a scheduled purchase fails?
If a scheduled purchase fails the recurring buy schedule will be paused and you will be notified via email and push notification regarding the failed recurring buy.
Will I be alerted when a purchase doesn’t execute?
We will notify you via email and push notification if a scheduled purchase fails.
What are the fees for buying through a recurring buy schedule?
Recurring buy carries a low 1% fee.
Can a recurring buy schedule wait until the price of a cryptocurrency reaches a certain level before buying?
The purchase transaction occurs at the same time that the scheduled transfer is processed, which means it's not possible to wait until the price of a cryptocurrency is at a certain point.
Disclosures
All investments involve risk and loss of principal is possible. Investors should consider their investment objectives and risks carefully before investing. Recurring buy does not ensure a profit or guarantee against loss. This is not investment advice, a recommendation, an offer to sell, or a solicitation of an offer to buy any security.