⭐ Merited by JayJuanGee (1)
I am pretty sure that most major exchanges have such an option to employ some kind of an automatic DCA. Below is a screen shot from BinanceUS's description of various automatic buy options... From the drop down menu, you can choose to buy one time (which is not automatic, it is right away) or you can set up automatic buy parameters within one of the four options that are available through their system.
It is likely that Binance (not BinanceUS) has some similar options, and some of the exchanges will allow the client to customize their automatic DCA more than others, yet I still have not found an exchange or service that allows the customer to select the hour of the day that his automatic buy is executed, so that is part of my objection to all of the automated DCAs getting executed around the same time or maybe just the lack of transparency regarding when they are actually executed.. but you can see that Binance's automatic DCA is pretty strict (or limited) in terms of when/how you can employ automatic DCA, which is daily or the various other increments that they show which amount to Binance's likely executing the DCAs in somewhat non-transparent ways on about a daily basis for their varying customers with differing automatic DCA preferences...and surely some people don't really care about those kinds of details that might ONLY end up affecting their buy orders by a percentage point or even less.. which is part of the reason that I would just prefer to manually execute my own, in the times that I am inclined to do it... but for some folks it is surely not any big deal as long as they get their buys in at the period that they had specified the exchange to execute their automated DCA buy orders.
Automated DCA! This is something that has crossed my mind for some reasons but believe me it will definitely not still be near perfect as that of a manual DCA done. First off I think there will be discrepancies on the time that the orders will be triggered or rather will have all those using the automated method orders triggers at same time. Like a daily set up will trigger just immediately after the day goes off. Each investor will have his preference as to when they wish to have set trigger, for example some incoming fundamentals will require one to go in early or join the late trade but automatic set will definitely just trigger when the exchange time comes without taking advantage of this fundamentals.
The manual method still remains the best, just that you will need to be available when you wish to take the trade but yet a limit order can still be placed for certain market price and it will trigger this only just depends on price and not time again like how the automated will be. The awareness or ability to place the order yourself to me is even a key to how you manage your finances or how you pay attention to them.
I haven’t tried this but with your information of binance offering it triggers me to have a glimpse of it, I will have to give it a try and compare with my manual purchase