How To Use Binance Auto Invest Plan: All You Need To Know
If you are someone who is confused and have no idea about how to use the Binance auto invest plan then this article is for you.
Gone were the times when cryptocurrency was only a thing for instant traders. Now many serious investors are looking at crypto as a high return investment strategy.
Due to the stability which is coming into the market with time, sustainable returns can be expected in the long run, and to avoid falling into the trap of market trends, a constant investment strategy is required. Binance is the leading crypto exchange in the world and has come up with a long-term auto investment plan.
This Binance auto investment plan could be the starting point for your smart investment journey. In this article, we’ll cover Binance Auto Invest Plan and share how to use it.
Contents
What Is Binance Auto Invest Plan?
If you are a regular investor in the traditional trading markets then you know how crucial it is to keep investing regularly in the stocks that you believe in as most of the market trends are less likely to stay for a long term and thus investing in the good or the bad phase of an asset could lead to stable wealth creation.
Binance Auto Invest lets users establish a bucket of cryptocurrency for long-term investment. You can invest in one or more cryptocurrencies with a fixed amount and recurring date.
On this date, a fixed amount of crypto will be bought on your behalf automatically. Unless you withdraw or swap them, these cryptos will keep building up in your wallet. Binance Auto Invest plan makes sure a regular investment saving strategy. Along with it, you can earn interest on your present holdings which we will discuss late in the article.
Benefits Of Binance Auto Invest Plan
In this segment of the article, we are going to discuss some of the benefits which are included in the Binance Auto Invest plan
Dollar-Cost Averaging
We all are aware of the high volatility in the crypto markets but Dollar-Cost Averaging which is being offered by the Binance Auto Invest plan makes sure that you divide your investment over a long period of time at regular intervals irrespective of the present asset prices.
This strategy makes sure that your investment keeps going in the bullish and bearish markets equally and thus creating a cost average to skip the volatility and research required to invest in the short-term trades.
Manage Emotional Investing
Another crucial factor while investing in highly volatile markets is the aspect of emotional investing.
Most of the people who have high hopes for an asset decide to sell their entire lot once the price starts falling due to the fear of losing more and making a safe exit. This makes the asset prices fall lower and causes the market to crash.
On the other hand, some people start to invest only after the mooning of a coin due to greed and thus face terrible losses. Binance Auto Invest invests in tokens regardless of their market price, avoiding emotional investing.
Passive Income
Once you invest with Binance Auto Invest, your assets are staked in their currency with no lockin period. By staking these assets in your wallet, you’ll generate a passive income that’s not only regular but also far higher than typical market interest.
With the flexible lock-in period, you can take out your cryptos without the need to wait for a specific period.
How To Use Binance Auto Invest Plan Tutorial
In this segment of the article, we are sharing a short tutorial on how you can start your Binance Auto Invest Plan without any hassle. Follow the steps down below to start
Create An Account On Binance
The very first thing you would have to do while starting with your Binance Auto Invest Plan is that you have to register yourself on the Binance crypto exchange. The steps to do so are mentioned below.
- Sign up on the Binance crypto exchange website
- Enter your contact information and create a strong password
- Once the registration is done login with your account
- Complete the verification process
- After verification, Log in to your Binance account
After you have a Binance crypto exchange account you can start trading with your Binance Auto Invest Plan.
Click On Earn And Click On Auto-Invest
On the main screen of your Binance account, you will be able to see an investment tab. There you will find a segment named Auto Invest. In this section of the website, you will be able to find all the information regarding the Binance Auto Invest Plans to start your systematic investment journey.
Choose A Coin
On the auto-invest tab, you will request to choose one or multiple tokens for a recurring payment. You can choose the coins that you fundamentally trust. Choosing the right tokens is crucial and hence we advise you to choose the token as per your research.
Create Plan
Now is the time to choose the tokens and start a plan in your Binance Auto Invest. You’ll be asked to specify a regular investment amount and date. Hence choose these dates at your convenience.
How Many Binance Auto Invest Plans Can I Subscribe To?
Binance Auto Invest Plan looks like a solid investing method, but you may be wondering about its maximum membership.
But the good news is the fact that there is no upper limit on the number of subscriptions that you want to have in your Auto-invest plans for Binance which allows the investors to choose as many tokens they want for regular investment.
How To Edit My Binance Auto Invest Plans?
You can edit your investment plan right from the same section of the website where you choose the dates and amount of the investment. Binance Auto Investment Plan is easy to customise and has no modification constraints. This is one of the major advantages of the Binance Auto Invest Plans.
What Risks Are Involved With Auto Invest?
Because Binance Auto Investment Plans carry the same risks as conventional systematic investment plans, they are expected to perform better in the market when prices are decreasing and provide a better dollar average.
However, if the market keeps moving up from the time that you start investing then the returns at the time of withdrawal could be lower than your expectation in the lower market.
Binance Auto Invest Plan: Final Thoughts
Traditional exchanges use a systematic approach to investment, making it less hazardous. Binance Auto Investment Plan brings consistency and regularity to crypto investment.
In this article, we tried to sum up all the details required the get started with the Binance Auto Invest Plan and we hope that it will become a fruitful guide for those who are looking to invest in the Binance Auto Invest Plan in the future.
