Buy Crypto In Canada Using Recurring Interac e-Transfers

In today's fast paced world — where time is as valuable as money, the concept of "set it and forget it" has gained traction among savvy investors. For those who are sending money to platforms like MyBTC.ca to buy bitcoin and ethereum in Canada, the utilization of scheduled Interac e-Transfers helps automate the investment process, giving a number of advantages from dollar cost averaging to optimizing your time — which can help speed up the process of sending funds and make one’s crypto trading life much easier.

How to Schedule Recurring Interac e-Transfers?

Canadian banks such as RBC Royal Bank, CIBC, Simplii Financial and Desjardins offer their customers the ability to set-up recurring scheduled Interac e-Transfer sending capabilities. Using RBC as an example, below you’ll find the quick and easy steps on how to set these up. The process may vary slightly from bank to bank but overall are quite similar.

Step 1: Login to your RBC online banking and from your Accounts Summary page navigate to “Transfers and Payments” and press “Send an Interac e-Transfer”.

Step 2: Select the account you would like to send money from and select MyBTC Canada from your recipients list if you’ve already added our company. If you haven’t added MyBTC.ca to your recipients list, use this set of instructions to guide you before you proceed with scheduled e-Transfers.

Step 3: Now that you’ve selected the account and the recipient, enter in the amount you’d like to send as a recurring scheduled payment via Interac e-Transfer. Now press the downward arrow on the “How Often” dropdown menu to select the frequency you’d like to send funds.

Step 4: Now you can select the frequency. For this example we’ll choose “Weekly” so an e-Transfer will be sent each week from the account.

Step 5: Use the date-picker to select when you’d like to begin sending funds automatically on a recurring schedule and end the series by selecting a date or number of payments as shown below. Then click the blue “Next” button.

Step 6: Review the recipient name and email and press the blue “Continue” button.

Step 7: Review your details and make sure all the information is correct.

Step 8: At the bottom of the page you will see a blue button that says “Schedule”. Give that button a press!

Step 9: All done! Your scheduled Interac e-Transfers will now automatically deploy on the recurring date you’ve selected so you can let the automation do the funding for you! Remember: you can still send manual e-Transfers to MyBTC.ca from within your online banking’s recipient list and it won’t disrupt the flow of your scheduled fundings.

Why use scheduled recurring Interac e-Transfer?

Let's take a look at some of the reasons Canadians can benefit from this tool:

Effortless Investing and Dollar-Cost Averaging

Ease of investing is at the front of the line in terms of advantages. The traditional approach to crypto investments using constant attention via manual transactions can be useful for single trades, but can also be taxing and time consuming for those who want to continually trade or purchase.

On the other hand, scheduled Interac e-Transfers take away the burden of manually executing sending funds to MyBTC.ca by automating your investment strategy. Automation is not just about convenience — it's a strategic maneuver known as ‘Dollar-Cost Averaging’.

By regularly investing a fixed amount into cryptocurrencies at consistent intervals — regardless of the crypto market's price, you end up averaging out the investment cost over time. This strategy mitigates the risks associated with market volatility… something we know all about in bitcoinland. This approach is lauded by those looking to invest over time in the often unpredictable crypto-space.

Time Management Discipline

Automatic payments build a disciplined investing habit. An “out-of-sight, out-of-mind” style approach can help make sure that your investment goals are always met without the need for daily, weekly, or monthly reminders.

This methodical approach leaves nothing skipped due to forgetfulness or dreaded phases of procrastination with minimal effort. The time and headspace saved by reducing the amount of clicks doing manual transactions can’t be overstated. This convenience allows investors to focus on other areas of their personal lives or otherwise.

Better Financial Planning

Knowing precisely how much money will be put toward investments on a regular basis gives MyBTC.ca clients the power to plan their budgets and manage their finances more effectively.

Every dollar counts in today’s economic climate — so finding ways to provide more clarity and make financial planning is yet another way to help traders benefit.

Canadians looking to buy bitcoin or ether can simply set their RBC Royal Bank online banking scheduled Interac e-Transfers and let the system perform their fundings automatically so they can enjoy better financial planning with less friction.

Flexibility | Control | Market Timing

Scheduled Interac e-Transfers offer the flexibility and control traders want over their investment strategy. MyBTC.ca clients using RBC Royal Bank, CIBC, Simplii Financial and Desjardins can tailor their funding send frequency and amount to match their cash flow either as weekly, bi-weekly, semi-monthly or monthly automatic Interac e-Transfer transactions.

This flexibility gives peace of mind that crypto investing does not become a strain on the person’s bandwidth. The “set it and forget it” approach reduces the temptation to time the market, which is a behaviour that can lead to impulsive decisions based on shorter term market moves or emotional responses to economic news. In short, automated scheduled Interac e-Transfers help investors “stick to the plan” and assists to combat veering off the beaten path set forth.

Recap

Scheduled Interac e-Transfers for RBC Royal Bank, CIBC, Simplii Financial and Desjardins customers using MyBTC.ca to buy bitcoin in Canada is a leap forward with the advantages of investing in the digital age. This approach follows suit with the lifestyle and financial goals of modern consumers — offering a meld of convenience, strategic advantage and discipline when sending funds to MyBTC.ca.

By automating cryptocurrency investment contributions, Canadians can take hold of the benefits of dollar-cost averaging as one can adhere to the "set it and forget it" model of scheduled Interac e-Transfers. Doing so allows RBC Royal Bank, CIBC, Simplii Financial and Desjardins online banking users to achieve their investment goals quickly with ease — and let’s not forget an upgrade on efficiency.

Have you scheduled your next Interac e-Transfer within your online banking yet?

Published: 2024-04-15

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