We’re making saving even easier with our BISON Savings Plan! Interested in regularly investing in cryptocurrencies over a long period of time, for a fixed amount?
Try it out now!
What You’d Benefit From
Save Better with the Cost Average Effect
As with other financial products, cryptocurrencies are also subject to market volatility. You can offset these price fluctuations by regularly investing a steady amount in your savings plan. By doing so, you’ll receive more shares when prices are falling and fewer shares when prices are rising. Depending on how the market is doing, a one-time investment could also yield a better return – so the cost-average-effect doesn’t necessarily apply to everyone.
The first customer decides to buy 5 shares of their favorite coin each month. The price of the shares depends on price fluctuations:
The second customer has created a savings plan and buys the corresponding shares of their favorite coin each month for €100. As a result, they receive the following amount:
Here’s How Easy It Is to Set Up Your Savings Plan:
1. Click on “Manager” in the BISON app navigation bar (when creating your savings plan online, you do not do this first step).
2. Go to the Savings Plan section and click on “New Savings Plan”.
3. Select the cryptocurrency of your choice.
4. Specify your custom amount and frequency of your investment.
The BISON Savings Plan is a bit like a standing order to buy cryptocurrency. It allows you to buy your choice of cryptocurrency on a recurring basis without having to do anything.
First, you choose a cryptocurrency to invest in. Then you specify an amount in EUR to invest and a time interval for the transaction. The transaction will then be executed automatically according to your specified time. After each successful execution, you will receive a confirmation message.
You can start your savings plan with an amount of €0.01.
Your savings plan is flexible! You can pause or even terminate your savings plan at any time.
You can either buy your cryptocurrency on a weekly, monthly, or quarterly basis. With a weekly purchase, you can specify the exact day of the week. With a monthly purchase, you can decide between the 1st and the 15th of each month. With a quarterly purchase, the withdrawal also takes place on the 1st or the 15th, but of each new quarter.
The amount you choose for your savings plan order will be withdrawn directly from your BISON clearing account; it is therefore important that, on your selected withdrawal date, there are always enough funds in your BISON account. Once you have verified your BISON account, you can click on "Deposit Money" in your settings and transfer the necessary amount from your personal bank account.
If there is not enough money in your account at the time of withdrawal, the withdrawal will be re-attempted several times during the day. If your account still does not have a sufficient amount of funds by the end of the day, your savings plan will remain active and be executed on the next scheduled date.
The cost average effect occurs when a certain amount is regularly invested over a long period of time. As a result of price fluctuations, you receive more shares when prices fall, and fewer shares when prices rise. Many investors use a savings plan to profit from the cost average effect in the long term. As with other financial products, cryptocurrencies are also subject to market volatility. You can offset these price fluctuations by regularly investing a steady amount in your savings plan.