Frequently asked questions
How CoinOperated works, where your crypto goes, and what you need to get started.
How does CoinOperated work?
CoinOperated gives each user a non-custodial wallet via 1Shot's embedded wallet platform. When you create a recurring purchase plan, you sign a cryptographic permission that lets CoinOperated relay your purchase plan to the blockchain even when you are offline. You control the purchase plan, including the amount per period, asset, and recipient address. The onchain permissioning system is built on MetaMask's delegation framework smart contract suite. See the How it works page for more details.
How do you get the Bitcoin and Ethereum for DCA buys?
Onchain purchases are routed through LI.FI. When a purchase is staged, a quote is fetched from LI.FI's quote API and relayed to the Arc Network with your signed plan permission. LI.FI's protocol handles bridging from USDC on Arc to mainnet ETH and Bitcoin.
Do I have to do KYC?
If you already have USDC, you can deposit it into your CoinOperated address and set up a DCA plan without KYC.
Where do I get USDC to start my DCA plan?
If you don't have USDC already, you can use Circle Onramp to convert USD from your bank account or debit/credit card into USDC on Arc at no cost.
Can I set up recurring deposits so I don't have to keep a large USDC balance?
Yes. Circle Onramp supports free ACH deposits. When you choose "Pay with bank transfer" in Circle Onramp, you'll be assigned a virtual bank account from Lead Bank.
To transfer funds to this account from your bank, you may be asked to verify microdeposits. Click the Buy USDC button in the CoinOperated dashboard, open Circle Onramp, and tap the profile icon in the top-left corner of the panel. After you sign in to your Circle Onramp account, open Bank transfer accounts, select your virtual bank account, scroll to the bottom, and tap Micro payments.
Once you've verified your virtual bank account, you can set up recurring payments to it from your personal bank account. Funds will arrive in your wallet as USDC on Arc 1-to-1 from your USD transfer.
How do I access the Bitcoin and ETH I get from CoinOperated?
CoinOperated automatically creates non-custodial accounts for you to receive your Bitcoin and ETH purchased from your plans. You can transfer your balances out of these addresses at any time. When setting up your plan, you can also choose to have the funds sent directly to another address, like a cold wallet or multi-sig account you control. Be sure that any external address you set in your plans is correct. CoinOperated cannot recover funds sent to the wrong address.