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How to Cancel Recurring Buy on Binance App: A Comprehensive Guide
Aicha Vitalis2024-09-22 07:34:07【markets】5people have watched
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Binance, one of the largest cryptocurrency exchanges in the world, offers a wide range of features to help users manage their investments. One of these features is the recurring buy function, which allows users to automatically purchase cryptocurrencies at regular intervals. However, there may be instances when you want to cancel this recurring buy. In this article, we will provide a step-by-step guide on how to cancel recurring buy on the Binance app.
What is Recurring Buy on Binance App?
Recurring buy is a feature that allows users to automatically purchase a specific cryptocurrency at a predetermined price and frequency. This function is useful for those who want to dollar-cost average their investments or simply want to buy cryptocurrencies at regular intervals without the need to manually execute the transactions.
How to Cancel Recurring Buy on Binance App
To cancel a recurring buy on the Binance app, follow these steps:
1. Open the Binance app on your smartphone or tablet.
2. Log in to your account using your username and password.
3. Once logged in, tap on the "Funds" tab at the bottom of the screen.
4. Select "Account" from the menu options.
5. Scroll down to the "Recurring Buys" section and tap on it.
6. You will see a list of all your active recurring buys. Find the one you want to cancel and tap on it.
7. On the next screen, you will see the details of the recurring buy, including the cryptocurrency, amount, price, and frequency. To cancel this recurring buy, tap on the "Cancel" button.
8. A confirmation pop-up will appear. Tap on "Confirm" to cancel the recurring buy.
9. You will receive a notification confirming that the recurring buy has been successfully canceled.
That's it! You have now successfully canceled a recurring buy on the Binance app.
Why Would You Want to Cancel a Recurring Buy?
There are several reasons why you might want to cancel a recurring buy on the Binance app:
1. Market Conditions: If the market conditions change, you may want to adjust your investment strategy. Cancellation of a recurring buy allows you to reassess your investment decisions.
2. Price Changes: If the price of the cryptocurrency you are buying has significantly increased or decreased, you may want to cancel the recurring buy and adjust your strategy accordingly.
3. Account Security: If you suspect that someone else has access to your account, it is essential to cancel any recurring buys to prevent unauthorized transactions.
4. Personal Reasons: You may have personal reasons for canceling a recurring buy, such as financial constraints or a change in your investment goals.
In conclusion, canceling a recurring buy on the Binance app is a straightforward process that can be done in just a few steps. By following the guide provided in this article, you can easily cancel a recurring buy and adjust your investment strategy as needed. Remember to always keep an eye on the market conditions and your investment goals to make informed decisions.
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