We’re excited to announce a new feature that we just shipped in Kollider Wallet! Starting today, users can set an automatic recurring purchase of BTC from their synthetic USD balance on Kollider. In other words, you can hold funds in USD but automatically buy BTC at your chosen interval.
Some users of Kollider Wallet primarily hold funds in fiat-denominated synthetic stablecoin balances in order to ensure stable value over time. A number of these users have requested the ability to make a recurring automated purchase of Bitcoin, allowing them to dollar-cost average (DCA) their way into BTC from their fiat account balance.
Dollar-cost averaging is an investment strategy that allows you to purchase a fixed dollar amount of an asset at regular intervals, regardless of its price. This approach helps reduce the impact of market volatility and streamlines the investment process. Dollar-cost averaging is a popular investment strategy, especially for highly volatile assets like Bitcoin. We’re happy to now offer this option to our users!
To access the DCA feature within Kollider Wallet, simply navigate to Settings —> Dollar Cost Averaging.
Enable the feature, select the amount you’d like to convert from your USD balance to your BTC balance, as well as the interval (daily, weekly, or monthly) and click save.
Once that happens, your purchases will happen automatically!
If you haven’t yet downloaded Kollider Wallet, you can do so here!