Dollar Cost Averaging: Auto Buy with Lightning Pay

By Lightning Pay

Updated August 25, 2024

This article will walk you through the process of setting up your automatically recurring purchase of bitcoin. When you setup this feature, we automatically withdraw dollars from your bank account and drop bitcoin directly to your Lightning Wallet! Follow along below if you need help. The most important thing is to ensure you have a compatible bitcoin wallet. Check out our article for the most popular bitcoin wallets that support our buy service.

Setup An Auto Buy

The first step to setting up your auto buy is to make sure you have the following setup in your Account:

1. A Lightning Address to Receive Bitcoin to your Lightning Wallet
2. A connected bank account

Now, the first two steps are to navigate to the menu in the top left of the screen, then click "Autobuy"

Now, you'll navigate the menus, choosing:

1. Your amount
2. Purchase frequency
3. The bank account from which you want to make your purchase
4. The destination Lightning Address

Choose a 2FA option, we're using the passkey below.

And you're Done! Now you can dollar cost average sats, non-custodially, direct from your bank account to your Lightning Wallet!

Inactivate an Auto Buy

Inactivating an Auto Buy is very straightforward. Simply:

1. Press Stop
2. Press OK

Re-Activate an Auto Buy

If you want to reactivate an auto buy, navigate to the "Inactive" tab in your Auto Buy menu.

Then, find the relevant Auto Buy in the list, and click, "Reactivate."

Pick one of the 2FA options, we're using the Passkey below.

That's it. Your Auto buy is active once again.