What is recurring buy
Recurring buy is a new feature that allows user to purchase specific cryptocurrency on an ongoing basis using your debit / credit card.
Advantage of recurring buy
Recurring purchase is a dollar-cost averaging (DCA) investment strategy that helps user to accumulate cryptocurrency with ease and a hassle free manner. You allows you to purchase crypto at both high and low point and as long as the underlying cryptocurrency values increases in a long term, you will benefit from a recurring buy resulting in a positive return of investment (ROI).
Available frequencies
You can choose from daily, weekly, bi-weekly (once every 2 weeks) and monthly when setting up a recurring buy plan. The plan will then automate the purchase process for you and you will have full visibility in terms of when the next purchase will happen.
Available countries and fiat currencies
Recurring buy will be available to most users and major fiat currencies who qualify for using OKX buy crypto with card feature. If you cannot see the frequency selector option, your country and fiat currency selection might not be supported.
Payment methods
At this time you can only setup a recurring buy plan using a debit or credit VISA / MasterCard. Debit card is recommended as some of the card issuing companies might applies a charge if you use your credit card to purchase cryptocurrency.
Fees
The fees are the same (1.99%) as a one-off purchase. The fees are automatically deducted before being converted into crypto and you will be shown the amount of crypto that you will be receiving when setting up the plan.
Pausing or cancelling
If you changes your mind, you can easily pause or terminate (cancel) a recurring buy plan in full by clicking the manage button on the recurring buy details page. You should use the pause function if you are planning to resume it at a later time, otherwise, you can terminate it and it will be cancelled in full. Note that termination is a non-recoverable action and you will need to create a new recurring buy plan if you are interested to reopen it.