Topic: CryptoDCA - App to DCA into Bitcoin and other coin (Read 217 times)

We analyzed that (unfortunately) most of the users leave their coins on centralized exchanges. So in our opinion, Kraken is one of the more secure ones.

If we detect that our DCA App has demand we gonna add more exchanges and features (e.g. withdraw to own wallet). This requires more developer work so we want to be sure that there is demand.


E.g. coinbase.com charges a fee of 1,5% when executing a trade (Broker service)
Coinbase Pro charges a fee of 0,60 when executing a trade (Exchange service)

Usually, brokers use this higher fee when executing DCA plans. Also, built-in "brokers" of exchanges charge a higher fee than their standard exchange fee (see the Kraken or Coinbase example above).

Right now we plan to have a free plan that executes DCA plans with a low fee for multiple coins. Later on, there will be a premium plan with more advanced features.

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For our early-access version, I will provide you with 3 invite codes that you could use:

BITCOINTALK1
BITCOINTALK2
BITCOINTALK3

If you are interested you could create an account here (https://app.cryptodca.io/sign-up) and use an email address and one of the invite code to use the app.

I'm not sure if inbuilt DCA tools are broker though, or is there something I'm missing? Are you referring to exchanges' extra fees when the user uses their DCA tools, not a broker that helps them make DCA trades? What about yours then? Will you charge for each transaction too or you're going to monetize solely on advanced features mentioned on your OP?

One step beyond a hardware wallet is to run a BTC mining machine. It has a similar mechanism as DCA in that you're harvesting BTC into your wallet at regular intervals in the future regardless of price. Our calculations show BTC mining is a better long-term wealth creation strategy than DCA with the same amount of funds, with the caveat that a mining rig is hard to maintain for most people.

I would have suggested what you said but the  OP has such a solid confidence in Kraken exchange as we can see by their words below
Also, if you consider the profitability of the project owners, you will understand that such a business is best fit for exchanges. It is on exchanges that many buys and sells happen. The more the buying and selling the more profits for them. But if they can find a script to include hardware wallet, it will be beautiful.

I started using the DCA strategy a while ago but I do it manually because I prefer to use an electrium wallet and a hard wallet.

What I don't like about the app is its connection to the centralized exchanges (Kraken), I don't know if my assets will be safe on the centralized exchanges, also I can't use the app right now because my country is banned on the Kraken exchange.

I don't know if this is possible but I would prefer if the application is linked with a hard wallet (Trezor - Ledger) instead of centralized exchanges because it is safer.

Thanks for the interest and all the questions! First of all, let me clarify and eliminate misunderstandings that the App I described in the first post is not found on cryptodca.io (yet). Because it is in beta status it is running on a separate domain. So if you are interested in using the App as an early user we can send you an invite code or you can subscribe to the newsletter to get one.

Nevertheless, we welcome your feedback for our DCA Calculator as well. 

Let me start, by answering your questions.

Using a DCA broker usually costs you around 1,5-2% per trade but crypto exchanges usually have a lower trading fee between 0-0,25% (depending on various things). Our app can take advantage of those lower fees.

Thank you, we will take this into consideration for our free-to-use DCA calculator!

We have worked with Blockchaincenter together in the past and visualized the Trending Coin Challenge for them. We met them on a Crypto Conference recently.

For now, only Kraken because we see it as the most secure crypto exchange to hold crypto assets. We will add exchanges based on demand from users. But there will be multiple exchanges available so that you as a user could use your existing exchange.

A big difference will be the opportunity to sell assets via DCA. But there will be other features only available for the Pro Plan.

There are other similar websites for showing dollar cost average, and one I used most was dcabtc.com, but your website can be a good competition.
Both websites have very similar interface but I think yours can show other fiat currencies except dollar (EUR, GBP, CHF, CNY, etc).
I would like to see dark theme switch added, but I am not sure I would pay anything for premium DCA app.

I can attest to this, the user interface is friendly and UX is cool.

Why only Kraken for now... I think adding Binance and Coinbase would give more acceptability.
You said it takes advantage of the low trading fee of the exchange and you also said that no exchange running internal DCA can give as low fee as you do. How do we reconcile that.

What will be the difference between the paid version and free version?

You don't have to make the same but you can get ideas from https://www.blockchaincenter.net/dollar-cost-averaging/ to have tables or charts for comparisons of DCA results from some different cryptocurrencies.

One Decade of DCA Bitcoin and its result
(SSS) - A Sane and Simple bitcoin Savings plan

Two insightful resources to learn about DCA, its potential results and how to DCA when you take profit.

I liked the UI and spent about 6 minutes adjusting the numbers, you only need to add the night mode and the USDT option with the possibility of merging charts, such as if you invested $100 in Bitcoin and Ethereum, which one is better, and so on. However, I did not find the option to link the crypto API, or is your service to provide advice and notifications, and not real trading through an interface that you provide.

In general, the current site is good and I do not advise you to link the crypto API because you will bear the responsibility of executing user orders correctly. You can give users free coins to use after creating the account and offering features paid in bitcoins.

So how does "taking advantage of lower trading fees" work? Just need explanation from user side, will it have extra task to support it?
Afaik, the trading fees for each platform are static and there will be no changes except to increase the level of verification, or suggest users to alternative payment methods which of course not all users have that.

These are some good questions and let me answer them.

I tested and reviewed the Recurring Buy feature on Kraken. The feature does not have a competitive fee because it charges you at least a ~1,50% fee, depending on the payment you choose sometimes even more. I know it does not look like this at first.

Binance does offer a feature like this - which I have not tested yet. I expect the fee to be pretty high because they only accept debit and credit cards (when using Auto-Buy with national currency). There are other advantages to not using Binance and not leaving your assets on Binance.

Reviewing many of those "in-build" auto-buy features on exchanges, I can tell you that they have usually a pretty high fee. For me as a cost-conscious investor, I won't pay more than a 0,5% fee per trade.   

Another advantage will be selling crypto assets with the DCA strategy.

Kraken exchange has an inbuilt exchange feature where one can DCA at their preferred specified time interval. It's known as Recurring buys. Binance (Binance Spot DCA) and many other popular exchanges have the same feature.

My question is what advantage does your service (which will have to be paid for in the future) have over the various inbuilt exchange DCA features, which are actually free?

Hello everyone, 👋

I would like to introduce you to our DCA WebApp from CryptoDCA.io. You can use it to buy or sell bitcoin and other coins on existing crypto exchanges using DCA - this comes with a user-friendly interface. In using the app, the coins remain on the exchange (e.g. Kraken) and we cannot withdraw the coins. It also takes advantage of the lower trading fees of the exchanges.

We built the product because of:

• Existing crypto savings plan providers are too expensive.
• Existing DCA trading bots (e.g. found on Github) are designed for very tech-savvy users
• There is no option to sell via a savings plan as well (an important point to take some profits emotionless)

You can also check out our DCA calculator to see the advantages of using the DCA strategies in a visual way!

We both have been using the product ourselves for months and would like to invite you to use our app as well, as we are of course very interested in feedback. Currently, the app is in beta status and only works with DCA purchases with Bitcoin or Ethereum and the crypto exchange Kraken.

As an incentive for early participation, we are offering 3 months of premium usage after going fully live (There will be a free version of course). If interested, feel free to write me for a personal invite code, read more about the "why" and us, or post here in the forum.

I am looking forward for you and some discussion!