Australian Exchange CoinTree Adds Regular Bitcoin Purchases Feature
Australian Bitcoin exchange CoinTree announces a new option that will allow users to make recurring Bitcoin purchases from their standard bank account.
Australian Bitcoin exchange CoinTree announces a new option that will allow users to make recurring Bitcoin purchases from their standard bank account. This new feature will be available starting Tuesday, 26th of January 2016.
To ensure the security of each user's accounts the new feature of automatic purchases will be available with at least a five days interval between regular purchases and capped at AUD $200 per order. “The limits are to deter internet banking fraud, which continues to rise in Australia. Regular purchases are designed to help people accrue bitcoin gradually over time, and this tradeoff is a nice balance,” CoinTree explained to Cointelegraph.
Shane Stevenson, founder of CoinTree, commented:
"Regular purchases are a great way to invest in bitcoin without getting caught up in the market swings and drama. During the recent price spike and following crash we saw our beta users remain unfazed. Almost everyone continued their weekly and monthly purchases, increasing their holdings at a steady and comfortable rate."
CoinTree is an Australia-based Bitcoin exchange launched in 2014, and has over 6,000 Australian users. CoinTree is already accepting cash deposits, BPAY and the POLi online payment system for instant bitcoin purchases.
The goal of the new feature is “to allow Australians to gradually accrue bitcoin over time, with a simple way to slowly diversify their investments into bitcoin and remove the hassle of frequent trips to the bank or reminders to transfer funds”, states the official press release from CoinTree.