Automatically DCA into Bitcoin

Using GetBittr & your favorite Wallet!

6 min readMay 10, 2022

Content:

Disclaimer
What is Bittr?
Country Restrictions?
What do I need?
My Experience with Bittr
What is DCA?
My Strategy
Misc

1. Disclaimer

The information presented in this content is for informational and educational purposes only. The views expressed are solely those of the author and should not be considered as financial advice. It is important to conduct thorough research before making any financial decisions.

2. What is Bittr ? (and why it is awesome)

Bittr is a professional and efficient service that enables individuals to invest in Bitcoin in a fully automated and emotion-free manner. It offers a streamlined process for setting up the service, connecting a ledger, and creating recurring bank transfers. Bittr purchases Bitcoin at the best possible price as soon as funds become available.

Best of it: Additionally, Bittr prioritizes security by immediately transferring purchased Bitcoin to a user-specified ledger or wallet, minimizing the risk of holding funds on an exchange and minimizing transaction fees.

Speaking of Fees: The Bittr service is offered at a competitive rate of only 1.5% on deposits, making it a cost-effective option for those looking to invest in Bitcoin

Right now we are focusing on setting up the most simplistic way of buying bitcoin, right through your own online banking environment, always managing your own wallet (private keys).

2. Country Restrictions?

Unfortunately, not every Country is eligible to use Bittr. Below are the Countries who can use their Service.

3. What do I need?

A Bank Account, a Hardware/Software Wallet and a working Computer for the Setup. That’s all.

I recommend using one of the wallets recommended by Bittr, as they offer comprehensive tutorials on their website for setup

I personally used a Ledger Nano X and found the setup process to be seamless.

Register on Bitter here!
Tutorials are found here!

4. My experience with Bittr!

In 2019, I was searching for a stress-free and comfortable way to dollar-cost average into Bitcoin. At the beginning of 2020, I came across Bittr and registered for their service in January.

The Tutorials on Bittr are straightforward, I had no Problems in following them. I would say, even for People who do have fewer Skills on a Computer, it is achievable to set everything up.

Apparently, my first Deposit was done on the 3rd of February 2020.

Bittr always do send Notifications as soon as they bought Bitcoin for you, with a nice Summary. Once you get this Notification, your Bitcoins are already on its way to your Wallet.

I am pretty happy I came across Bittr. I was constantly looking for something like this, since by the Time I got tired of doing the DCA Strategy all by myself on regular Exchanges like Coinbase, Binance etc. After you have everything setup, you don’t have to do nothing at all, just make sure that you did setup everything accordingly and don’t forget to create a reoccurring bank transfer.

5. What is DCA?

Dollar Cost Averaging (DCA) is a well-known investment Strategy used by numerous Investors

An Investor sets a Savings rate on an Interval he defines to invest in an Asset he prefers. In doing so, he bypasses the Volatility of the Asset and the Emotions associated with it. The Investor buys regardless of the Price, with the aim of accumulating the Asset, not having to Time the Market and at the same time getting a better Average price.

It is Important to understand that Dollar Cost Averaging is not a form of “buying the Dip”. It is a Saving Strategy with a long Time Horizon to be set.

However, it is to say, that Dollar Cost Averaging only works with an Asset that rises in Value, over the Time Horizon set by you.

Here’s a little Example. Let us assume we buy Bitcoin on a Weekly basis, over the course of 15 Weeks. Spending $500 a Week, resulting in a total of $7'500.00.

Week 1 — Buy @ $10'000.00 = 0.05 BTC
Week 2 — Buy @ $7'000.00 = 0.07 BTC
Week 3 — Buy @ $3'000.00 = 0.16 BTC
Week 4 — Buy @ $5'000.00 = 0.10 BTC
Week 5 — Buy @ $3'000.00 = 0.16 BTC
Week 6 — Buy @ $2'000.00= 0.25 BTC
Week 7 — Buy @ $5'000.00 = 0.10 BTC
Week 8 — Buy @ $8'000.00 = 0.06 BTC
Week 9 — Buy @ $3'000.00 = 0.16 BTC
Week 10 — Buy @ $3'000.00 = 0.16 BTC
Week 11 — Buy @ $1'000.00 = 0.50 BTC
Week 12 — Buy @ $5'000.00 = 0.10 BTC
Week 13 — Buy @ $10'000.00 = 0.05 BTC
Week 14 — Buy @ $15'000.00 = 0.03 BTC
Week 15 — Buy @ $9'000.00 = 0.05 BTC

In total, this gives us 2.00 Bitcoin with an average buy Price of $5'933.33. As stated above, the total invested is $7'500.00, if we assume now that the Price of Bitcoin is at $9'000.00, which is the last Price seen above in the Chart, you would have made a Profit of $10'500.00. (2 BTC x $9'000.00 = $18'000.00 | $18'000.00−$7'500.00 = $10'500.00) — please understand that this is simplification.

Would you have bought at $10'000.00 you would get 0.75 Bitcoin, at $7'000.00 it would be 1.07 BTC and at $3'000.00 you would get 2.5 BTC.

Of Course, it would be better to buy always Low, but hitting the Low, is like playing Roulette, not saying that there aren’t People that can achieve that, but most can’t. So taking out the Emotions along with a decent Time Horizon will generate better and more Profit in the end.

Again: DCA does not mean to buy the DIP — it is a simple investing Strategy for saving Money. As stated Above.

5. My Strategy

Following is my Dollar Cost Averaging Strategy, as already stated this is my Strategy, and it certainly does not fit to everyone. I am not going to tell how much Money I do used to accumulate, for Example purposes we will assume its $500.00 a Month.

I only DCA about 75% directly into Bitcoin, through Bittr, the remaining 25% are going into Stable Coins, manually using SwissBorg.

75% = $375.00 | 25% = $125.00

I do Dollar Cost Average every Week, so 4 times a Month. I choose to DCA on two specific Weekdays, namely on Monday’s and Friday’s. With that, I try to catch the lowest Price possible — might not be the best Strategy though, but it works for me.