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How to set up recurring trades and deposits in your Finder Wallet
You can auto-invest in crypto by using the Finder Wallet recurring trade feature, and auto-deposit into Finder Earn..
You can easily invest in Bitcoin, Ethereum and 5 other cryptocurrencies using recurring trades in the Finder app. Head to the Crypto tab to get started. Get it here.
How recurring trades work
Recurring trades let you automatically invest in certain assets at specific times and for certain amounts. For many investors, recurring trades can be an extremely useful tool as they eliminate a lot of the stress and risk associated with investing.
Recurring trades are based on a popular investing principle known as dollar-cost averaging, and are an easy way to automate your investing.
By setting up recurring trades in your Finder Wallet, you can choose when to invest in cryptocurrencies, and also choose how much you want to invest each time.
Recurring trades are made using the Cash balance in your Finder Wallet, so you'll need to make sure you have enough in your wallet to cover the value of any recurring trades you have set up. The easiest way to ensure you have the right amount of funds to cover your trades is by setting up an automatic, recurring deposit from your bank account to your Finder Wallet.
Find out how to set up recurring deposits and trades using the step-by-step guide below.
How to set up recurring deposits to your Finder Wallet
Log in to your banking app or site.
Navigate to the payments section.
Create a new payment.
Choose the account you want to use to make deposits.
Select Finder Wallet as the payee using the Finder Wallet account number and BSB provided in your Finder app.
Enter the amount you want to deposit.
Select the "recurring" or "repeating" payment option.
Choose the frequency that you want deposits to be made. This should match the recurring trade schedule you have set up in your Finder Wallet. For example, if you've set up weekly recurring trades in the Finder app, set your recurring deposit to be weekly as well.
Pick which day you want the deposits to be made. Make sure it is at least 2 days before your recurring trade is due to come out to make sure the money arrives in time. For example, if you have your recurring trades in the Finder app set to happen every Friday, set up your recurring deposit so that it comes out on the Tuesday or Wednesday before.
Check the details you have entered are correct.
Confirm the payment.
Check your deposits are arriving in your Finder Wallet.
How to set up recurring trades in the Finder Wallet
Tap the "Tradeable" toggle at the top right to display tradeable coins.
Tap on the coin you want to set up a recurring trade for.
Scroll down to the "Recurring buys" section and then tap "Set up".
Enter the amount you wish to purchase. The minimum trade amount is $5.
Pick how often you want to make a trade. You can choose daily, weekly or monthly trades.
Click "Review" to confirm your trade details.
Swipe up to submit your recurring trades.
Frequently asked questions
A recurring trade is when you automatically purchase a certain amount of cryptocurrency at the same time every day, week or month.
Joe has $50 and sets up a $25 recurring trade to buy Bitcoin every week on the Finder app.
In the first week he buys $25 worth of Bitcoin at a price of $50,000. In the second week, Bitcoin went down to $49,000 and he buys another $25 worth at this price.
Since Joe divided his investment into 2 smaller amounts, his dollar goes further than if he decided to invest $50 in the first week. His average buy-price using this method is $49,500.
Easily automate your buys in line with your budget.
Protect yourself from crypto price fluctuations.
Incrementally grow your wealth over time.
You can set up a recurring trade in under 10 minutes.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Tom Stelzer is the Members Publisher for Finder, specialising in content for Finder app and website members. He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney.
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