How to DCA bitcoin privately

How to DCA bitcoin privately

By Tristan Borges Solari · 11/29/2024

Want to build your bitcoin savings without compromising your privacy? Dollar Cost Averaging (DCA) with Cash Vouchers offers a unique solution that keeps your personal information private while automating your bitcoin strategy. Here's how to set up your private DCA system using Bitcoin Well's Cash Voucher feature.

What you'll need

  • A Bitcoin Well Lite Account (only requires email and username)

  • Your preferred bitcoin wallet (on-chain or Lightning)

  • Cash for funding your DCA strategy

  • Access to a Bitcoin Well ATM

The privacy-first DCA strategy

Step 1: Initial setup

1. Create a Lite Account at Bitcoin Well

  • Only your email and chosen username required

  • No ID verification needed

  • Add your bitcoin wallet address where you want to receive funds

2. Get Your Cash Voucher QR Code

  • Navigate to "Buy" in your dashboard

  • Select "Cash Voucher"

  • Save your unique QR code - it remains the same for future use

Step 2: Fund your DCA strategy

  1. Visit a Bitcoin Well ATM with your cash and saved QR code

  2. Select "I want Crypto" on the ATM

  3. Choose "Bitcoin Well Portal"

  4. Scan your Cash Voucher QR code

  5. Insert your predetermined DCA amount

Pro tip: Consider funding multiple vouchers at once to reduce ATM visits. For example, if you plan to DCA $100 weekly for a month, you could create four $100 vouchers in one ATM visit.

Step 3: Execute your DCA strategy

With vouchers funded in your account, you can now execute your DCA strategy:

  • Log in weekly (or at your chosen interval)

  • Redeem one voucher to purchase bitcoin

  • Your bitcoin is automatically sent to your wallet

Understanding the Costs

ATM transaction:

  • 4% fee when creating vouchers

  • Example: $100 cash = $96 voucher credit

Bitcoin purchase:

  • Lite Account spread: 3%

  • Verified Account spread: 1.2% (if you choose to upgrade)

Limits to Consider

  • Individual vouchers: Up to $950 each

  • Daily voucher creation: Up to $3,000

  • Daily redemption (Lite Account): Up to $3,000

Why choose this method?

1. Maximum privacy

  • No bank account connection required

  • No ID verification needed

  • Cash-based system keeps transactions private

2. Financial independence

  • Bypass traditional banking restrictions

  • No risk of blocked transactions

  • Complete control over your DCA strategy

3. Security Benefits

  • Non-custodial solution

  • Direct-to-wallet delivery

  • No funds held on exchanges

4. Flexibility

  • Customize your DCA schedule

  • Adjust amounts as needed

  • Switch between on-chain and Lightning Network

Tips for success

  • Plan your funding schedule: Calculate how many vouchers you'll need for your DCA strategy and fund them efficiently

  • Set calendar reminders: Stay consistent with your chosen DCA interval

  • Keep your QR code handy: Save it to your phone for easy access

  • Monitor market conditions: Consider adjusting your DCA amount based on market cycles

Start your private DCA journey

Taking control of your bitcoin strategy doesn't mean sacrificing your privacy. With Bitcoin Well's Cash Voucher system, you can execute a disciplined DCA strategy while maintaining your financial privacy. Ready to begin? Find your nearest Bitcoin Well ATM and start building your bitcoin savings today!

Remember, the best investment strategy is one you can stick to consistently. By removing the emotional aspect of timing the market and maintaining your privacy, you're setting yourself up for long-term success in your bitcoin journey.

TB
Tristan Borges Solari

Tristan is a long time Bitcoin entrepreneur, having launched several products in the space. He now dedicates his talents to technical writing and design.