How can I monitor the performance of my Recurring Buys on Altify?
You can easily track your Recurring Buys and overall investment performance through your Altify Profile. Just navigate to the "Recurring Buys" section for detailed insights, including your Buy Streaks and the number and value of successful transactions.Few readersWhat is a Recurring Buy?
At Altify, our Recurring Buy feature, also known as a Savings Plan, is designed to automate your investment in cryptocurrencies or Crypto Bundles. This feature allows you to consistently allocate funds from your cash balance to purchase your chosen cryptocurrency on a weekly or monthly basis. It’s a straightforward way to engage in a Dollar-Cost Averaging (DCA) strategy, which can help minimise the impact of market volatility and enhance your investment returns over time.Some readersHow do I set up a Recurring Buy on Altify?
Setting up a Recurring Buy on Altify is a breeze! Just follow these simple steps:
Head over to the Products page and select the cryptocurrency or Crypto Bundle you wish to invest in.
Click 'Create Recurring Buy.'
Enter the amount you want to invest regularly.
Choose weekly or monthly purchases, and pick a specific date or day.
Confirm your details, and voila! You’re all set to make your investing practically effortless.
Alternatively, you also have the option to set up a RecurrSome readersWhat is Dollar-Cost Averaging?
DCA is an investment strategy where you invest a fixed amount of money into a particular asset, like a cryptocurrency or Crypto Bundle, at regular intervals regardless of the asset's price. This method helps reduce the impact of market volatility and can lead to improved investment returns by mitigating the risks associated with market timing.Few readersIs a Recurring Buy the same as Dollar-Cost Averaging?
While they are related, Recurring Buys and Dollar-Cost Averaging at Altify aren’t exactly the same. Our Recurring Buys automate your cryptocurrency investments at predetermined intervals, supporting the DCA strategy by regularly investing fixed sums to reduce the effects of market fluctuation.Few readersWhat are the benefits of creating a Recurring Buy on Altify?
Creating a Recurring Buy with Altify streamlines your investment process, saving you time and effort. This method allows you to harness the compounding effect of DCA, smoothing out the risks of market volatility and potentially leading to more stable and higher returns in the long-term.Few readersHow do I pay for my Recurring Buys on Altify?
Your Recurring Buys are automatically funded by deducting the investment amount from your fiat cash balance. We support multiple currencies, including rands, US dollars, and euros. All you need to do is ensure you have adequate funds on your chosen investment day to maintain a smooth investment flow.Some readersWhat happens if I don’t have enough funds in my Altify account for a Recurring Buy?
Keeping sufficient funds in your account is crucial for the success of your Recurring Buys. If the balance is too low, the transaction will not proceed. Don't worry, though—we'll send you a reminder six days before your investment date to top up if needed.Few readersWhich assets can I create a Recurring Buy for on Altify?
Our platform offers the flexibility to set up a Recurring Buy for any available investment option, including a wide range of cryptocurrencies and our specially curated Crypto Bundles.Few readersWhen setting up a Recurring Buy on Altify, is my cash balance invested immediately or is it held in cash until it's invested?
Yes, you have the option to choose whether to start your Recurring Buy immediately or at a later date.Few readersWhat are Recurring Buy Buy Streaks on Altify?
A Buy Streak on Altify represents a series of consecutive successful purchases. Visit the "Recurring Buys" section in your profile to view and track the consistency of your automated investments.Few readersCan I change how often my Recurring Buys happen?
At Altify, you can choose whether your Recurring Buys occur weekly or monthly and select the day they take place. Once you set the frequency, it’s locked in to help maintain a consistent investment strategy. Want to adjust the pace? Simply end your current plan and start a new Recurring Buy with your preferred frequency. This flexibility allows you to adapt as your investment needs evolve.Few readersCan I pause or cancel my Recurring Buys at any time?
Absolutely! Your investment journey should fit your life’s rhythm. You can pause or cancel your Recurring Buy at any time through the "Recurring Buys" section under your Profile in the Altify app. We're here to make investing convenient and responsive to your needs.Some readersAre there fees associated with Recurring Buys on Altify?
Indeed, there are fees associated with Recurring Buys, but they’re just the same as those for regular investments, no surprises there! For details on the specific fees, you can check out our complete fee schedule here. It's all part of our commitment to transparent and straightforward pricing.Few readersCan I change the frequency, date or day of my Recurring Buy?
Once your Recurring Buy is set up, the frequency, date, or day can't be modified directly. But no worries—you have complete control to start anew. Simply create a new Recurring Buy with the settings you prefer, and cancel the existing one. This way, you always have the flexibility to adapt your investments as your schedule or goals change.Few readersHow many Recurring Buys can I create at one time with Altify?
With Altify, the sky's the limit! You can set up as many Recurring Buys as you like, providing ample opportunities to diversify your investment portfolio across different cryptocurrencies and Crypto Bundles. Just remember to keep an adequate balance in your account to ensure all your investments are executed successfully on your chosen days. This feature is designed to empower you with endless possibilities to grow your wealth.Few readers