How to execute Bitcoin DCA (For EU residents)
When you want to use the DCA method to increase your bitcoin portfolio you need to find the right tools and tricks. In this article we will show you some tools that work great if you are a EU resident.
In order to DCA bitcoin you need a bank and a bitcoin onramp or exchange. You can use any bitcoin exchange. But it depends if your bank will let you deposit your fiat money on that exchange.
A company from Switzerland called RELAI is focusing on making bitcoin DCA easy. The startup has a good reputation in the bitcoin space and so far has done everything right to become a major player in the space.
With relai you can setup a recurring purchase accordingto your DCA or VA plan. In order to make deposits you can use your bank account. Not all bank accounts will be compatible but users reported that Revolut is working seamless with Relai.
Next you need a wallet that you can use for cold storage. You might want to use a hardware wallet such as Trezor. But also an old phone could be used for the start. You just install a mobile wallet like blue wallet and use it as a savings account.
Always ensure that your backup is in perfect condition because in case you lose or break your phone nobody can restore your bitcoin unless you have a backup of the private key.
In the following video you can learn how to use Relai in combination with bluewallet.