Retail trading platform Robinhood has rolled out a new recurring crypto investment feature for users who want to dollar cost average (DCA) into a coin. Given DOGE accounts for 62% of Robinhood’s crypto services revenue, the move could result in a steady stream of small buyers for the memecoin.
The firm announced the launch of the new feature on Sept. 8, and users are able to set up up recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis.
The minimum purchase amount is $1, with the firm is promoting the feature as a simple way to DCA into crypto markets without paying fees.
“If you place an order and spend $100 to buy Bitcoin, you’ll get $100 worth of Bitcoin. Period,” Robinhood stated.
According to the platform’s website, recurring crypto orders will usually be processed between 2:30 pm and 4:00 pm ET (6:30 pm to 8:00