MoonPay Launches Automated Crypto Purchase in the U.S

Cryptocurrency infrastructure provider MoonPay has announced the rollout of its Recurring Buys feature for users in the United States. This new functionality allows users to automate the purchase of cryptocurrencies at regular intervals.

Having initially launched in Europe in January, the Recurring Buys feature enables users to schedule and automate crypto transactions through their MoonPay Balance, a service that facilitates instant and fee-free deposits for cryptocurrency purchases. The feature supports over 60 different cryptocurrencies, offering users the flexibility to set up automated purchases at their preferred frequency.

This functionality aligns with the Dollar Cost Averaging (DCA) investment strategy, which involves buying a fixed amount of an asset at regular intervals to potentially reduce the impact of market volatility. MoonPay emphasizes that users retain full control over their recurring transactions, with the ability to customize multiple automated purchases across various tokens available on the platform. Users will also receive notifications regarding their transactions. While MoonPay does not charge fees for these automated purchases, standard network fees will still apply. The service is now available to US users, with the exception of residents of New York. Users have the option to cancel their automated purchases at any time. A MoonPay representative stated that the expansion of this feature aims to provide users with a streamlined method for managing their cryptocurrency investments without the need for manual transactions.