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Xaman Integrates Dollar-Cost Averaging (DCA) with BTCDirect’s On/Off-Ramping Solution
We are happy to announce that we have integrated Dollar-Cost Averaging (DCA) functionality in collaboration with BTCDirect via their recurring payments feature.
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This new feature is live for all Xaman users in countries BTCDirect supports, offering a seamless and automated approach to purchasing XRP through their On/Off-ramping xApp.
What is Dollar-Cost Averaging (DCA)?
Dollar-cost averaging (DCA) is a widely known strategy that is based on users making recurring purchases of assets at fixed intervals, regardless of the asset's price.
By spreading out purchases over time, users can minimize the impact of market volatility and avoid the pressure of trying to "time the market."
Market volatility is a challenge, especially within the decentralized finance space. With DCA, users can maintain a steady, hands-off approach to accumulating assets without needing to monitor the market constantly.
By automating this process, Xaman provides users even more flexibility by allowing them to opt-in to this feature to manage their asset acquisition over time.
BTCDirect Offers a DCA Feature to Xaman Users
With BTCDirect's integration, Xaman users can access a DCA feature. Here's how it works:
- KYC Registered Users: All users who have completed their KYC (Know Your Customer) verification with BTCDirect can access this feature.
- One-Time Setup: Users only need to set up their DCA once, where they can choose their preferred timeframe and investment amount. After that, purchases will be automatically executed at the chosen intervals and can be canceled at any time.
How DCA Enhances the Xaman Experience
Incorporating DCA into Xaman through BTCDirect's On/Off-ramping solution offers several key advantages:
- Consistency in Purchases: Automatically execute recurring buy orders at set intervals.
- Predictable Asset Allocation: Users can accumulate assets steadily, regardless of price fluctuations.
- Timely Asset Accumulation: Spread out purchases to avoid lump-sum investments during market highs.
How to Get Started
Users can set up recurring purchases directly through BTC Direct's On/Off-ramping xApp in their Xaman wallet.
- Open your Xaman wallet.
- Navigate to the “BTC Direct” xApp.
- Select "Buy" and “Recurring” to set up automatic purchases.
- Choose your preferred interval and the amount you'd like to invest.
- Recurring purchases will happen automatically based on your set interval and amount.
Ready to Simplify Your Asset Accumulation Approach? If you're ready to take a more structured, automated approach to asset accumulation, this new feature gives you the flexibility to do so.