Understanding Auto-Invest and How It Works
Canvas
Hello friends! A happy Christmas and prosperous New Year to you! I trust you are having fun with your loved ones. Today, I want to discuss "Auto-Invest" with you.
As a trader, you may wish to automate your crypto investments with Auto-Invest so you can earn more cryptocurrency in your holding. Having said this, let's take a look at what is Auto-Invest.
What is Auto-Invest? |
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Just as I have earlier said, as a trader, you can automate your crypto investments with Auto-Invest and get passive income. Auto-Invest is an investment strategy based on dollar-cost averaging (DCA). You can decide which cryptocurrency you want to regularly buy.
You can get passive income from your investments by having your acquired cryptocurrencies automatically paid into your Flexible account, which we are going to look at using Binance exchange.
The Process of Auto-Invest |
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Auto-Invest works in the following steps:
- Decide which cryptocurrency to purchase.
- Create a strategy plan in Step 2 by deciding how much you want to spend and your favorite stablecoin.
- Decide how often you want to buy cryptocurrency by choosing a recurrence cycle.
- You're finished!
How Auto-Invest work |
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Auto-Invest works in the following way, and through this way, you can purchase and invest in any of the available cryptocurrencies. Now, in order to automate your cryptocurrency on Binance, follow the steps below.
Step1: After you have logged in, select [Earn] and [Auto-Invest] from the menu.
screenshot from Binance
Alternative: Launch the Binance App and select [More]. Earn money and auto-invest. The available cryptocurrencies for Auto-Invest subscriptions will be displayed to you on your device.
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Screenshot from Binance
At this point, you have the option to build an auto-invest plan for a single cryptocurrency or a portfolio auto-invest plan to purchase numerous cryptocurrencies in a single portfolio.
Additionally, you may quickly buy a carefully chosen selection of various cryptocurrencies using the [Auto-Invest] tool while still having total freedom to change their allocation within your portfolio plan.
Step2: You can choose the asset's timeframe to check the simulated ROI before subscribing. The history of the performance of the asset can be viewed by clicking on the chart icon.
Step3: Prior to establishing an auto-invest invest, research
How to Create an Auto-Invest Plan |
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Step1: On the Auto-Invest homepage, click [My Auto-Invest Plan] to view your current Auto-Invest plans, portfolio value, and profit and loss.
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Step 2: Visit [Auto-Invest] to see every one of your plans. Use the [On/Off] button to change between pausing and continuing a plan. Click [Edit] to make changes to a plan, such as altering the frequency of an investment. Click [Remove Plan] to permanently halt a plan.
Step3: You can view your cryptocurrency purchases in [Auto-Invest History].
Conclusion:
With Auto-Invest, you can automate your cryptocurrency investments and earn some good passive income for yourself. The practical step that is used in the post is Binance Auto-Invest.
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