Recurring buy lets you invest in crypto automatically on a schedule you choose, right from the Independent Reserve app. This guide walks through setting a recurring buy, funding it, and how to pause or cancel it later.

Log in and set up recurring buy on mobile.

Key takeaways

  • Set up a recurring buy from the buy/sell screen on the app
  • Choose your crypto, amount and frequency: daily, weekly, fortnightly, monthly or on the last day of the month
  • Recurring buys can be paused or cancelled at any time
  • No extra fees beyond the standard trading fee

What is a recurring buy?

Recurring buy is a feature that lets you invest in crypto automatically on a schedule you choose, so you don’t need to time the market or place manual orders each cycle. It’s built around dollar-cost averaging (DCA), a strategy where you invest a fixed amount at regular intervals, regardless of price, to smooth out volatility over time.

For more on how it works, see our guide on how recurring buy works.

Two methods to set up a recurring buy

Independent Reserve gives you two ways to structure a recurring buy: fixed amount and percentage of deposit.

Fixed amount

Fixed amount invests the same dollar amount each cycle, regardless of how much is in your account. It’s the simplest way to dollar-cost average, and it works with any deposit method, including cards, EFT, PayID, or PayPal.

Percentage

Use the percentage method to set a percentage of whatever you deposit into your account, so the buy amount scales with what comes in. This method only works with bank transfer or PayID deposits, since it needs an actual incoming deposit to calculate the percentage from.

Choose the fixed amount method to buy the same amount on your chosen schedule. Choose the percentage method if your deposit amounts vary and you want your recurring buy to scale automatically.

Fund your account before you start

You’ll need funds in your account for recurring buy to work. At each scheduled cycle, it checks your available balance and buys with whatever you have, so make sure the funds are there before your recurring buy is due, not added afterwards.

The simplest way to manage this is to set up a recurring transfer from your bank, timed to match your recurring buy frequency:

  1. Log in to your bank’s app or online banking.
  2. Set up a new transfer to your Independent Reserve PayID or bank account details. PayID is usually the fastest and most reliable option.
  3. Choose the recurring or scheduled transfer option (the exact name varies by bank).
  4. Match the frequency to your recurring buy, for example, weekly if your recurring buy runs weekly.
  5. Build in a buffer for the transfer to clear before your recurring buy is due. PayID is typically instant, but EFT transfers can take one to two business days depending on your bank.

Not all banks handle transfers to crypto exchanges in the same way, and some apply limits or delays. For a full comparison, see our crypto-friendly banks in Australia guide.

How to set up a recurring buy on the app

To set up a recurring buy:

  1. Open the IR app and log in to your account.
  2. Navigate to the side menu and tap on recurring orders
  3. Choose the crypto you want to buy.
  4. Enter the amount you want to invest each cycle.
  5. Select your frequency: daily, weekly, fortnightly, monthly or on the last day of the month.
  6. Review the details.
  7. Confirm to activate your recurring buy.

Once confirmed, your recurring buy runs automatically at each cycle if your account has sufficient funds. You’ll get an email confirmation each time it runs, and it’ll show as “Triggered and actioned” in your order history. If your balance is zero at the scheduled time, that cycle is skipped and marked “Triggered but not actioned”. Top up before the next cycle, and it’ll resume as usual.

Is recurring buy on the app the same as on desktop?

Yes. Recurring buy works the same way whether you set it up on the app or the web portal, and orders you create on one will appear on the other.

How to pause or cancel a recurring buy

To manage an existing recurring buy:

  1. Go to the recurring orders screen
  2. Select your active recurring buy.
  3. Choose to pause or cancel it.
  4. Confirm your changes.

Set up a recurring buy

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