Are you looking for a way to automatically set up recurring buy orders on Coinbase Pro (or Binance, Kraken, Coinmate) because you do not want to pay the high fees of recurring buy orders on the main Coinbase platform? You want to periodically buy your cryptocurrencies so you don’t have to think about it? This guide will help you out in no time! Absolutely NO costs or subscriptions required.
If you don’t know about Coinbase Pro and you are still buying your bitcoin or other currencies directly on the Coinbase platform then please take a look at this post I made!
This is also no sponsored post. I’m not getting paid nor am I getting any advantages writing about this!
Lets get started!
Let me show you how I am buying €10 worth of bitcoin every three days.
The first thing you need to do is go to https://dcabot.online/ and register a new account. This should be quick and easy, and will only take 2 minutes.
After you’re done registering go to your Coinbase Pro account and generate a new API Key with view and trade permissions. Transfer permissions are optional but not needed
Now create your API key. You’ll have to put in your 2-factor authentication key. If you are not using 2-factor authentication set it up as soon as possible! Now you will see your API Secret. This should be copied to your temporary file as well since you will not see it again.
After this is done your API Key should be created. We will need this key as well!
Okay, the hardest part is over now. All we have to do now is enter the API Key, API key secret and Key passphrase add the top of your dashboard on https://dcabot.online/ and create a new DCA Bot.
Let’s do the last and most fun part now! All we need to do is add the details about our recurring buys. You’ll have to choose the cryptocurrency you want to buy (Bitcoin, Ethereum, Litecoin, Cardano, and ChainLink are available options). Choose which fiat currency you want to pay with (EUR, USD, or GBP). Choose the amount you want to purchase and pick the frequency. You can even choose to wait for certain price drops before you buy!
We are done. All you have to do is make sure that there is actual fiat on your Coinbase Pro platform after which you can sit back and relax.
Interesting. But are there any costs involved?
I’m using it myself for a couple of months now and there are no extra costs involved!
Hi! Thanks for sharing a link to my site. It is, indeed, free – the costs to me are minimal. I built this to solve my own problem, and thought it might solve a problem for other people. Seeing the number of users go up, and knowing i’m helping more people get into bitcoin, is far more rewarding to me than the tiny amount I might be able to charge people for this service.
Thanks for the comment and a BIG thanks for making such a cool tool for free!
Dollar cost averaging into Bitcoin is super easy this way!
Keep up the good work!
Can you tell me how to get started on building something like this myself?
Thanks for linking to my site. I had a user unable to get a list of deposit accounts, because they didn’t specify the ‘transfer’ option on the API key permissions. They suggested I ask you to add a note to the blog post, explaining that you can’t use automated deposits unless you have the ‘transfer’ permission enabled. So that’s what i’m doing now 🙂
Sorry for the late reply. Thanks for your comment. I added a note in the post as well!
Thanks again for allowing the public to use your tool! 🙂
So if I understand correctly this API key has the power to withdraw money from your bank account, purchase crypto and transfer it anywhere?
…Seems like a pretty bad idea to store it on some third party website…
I completely understand where you are coming from! This is also the reason why did not include the transfer in my API key. Some people like to link their bank account though. This way they don’t need to think about anything anymore. I am using this service for over a year now and I have never had any problems with it!
It is up to you! 🙂
Hello, just setting this up on CoinBasePro. Two questions, do I need to check off transfer on the API key to transfer from bank account and what do you mean by actual fiat?
I did not check ‘transfer from bank account’!
What I meant with ‘actual fiat’ is the following: If there is no money on your account the tool will not be able to buy automatically. Simple as that 🙂
I hope this answers your questions?
Hi Michiel, when you say “if there is no money on your account the tool will not be able…” do you mean the bank account?
Thanks for your comment. I mean brokerage account!
Coinbase Pro still has Maker and Taker fees. Are you getting around those as well or just accepting them because they are less?
Sorry for the late reply, I was enjoying some holidays. I am not getting around the Coinbase Pro fees. Every platform/broker/exchange will have fees. I just want people to know that the fees of Coinbase are way higher than on Coinbase Pro.
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