Auto Buy™ avoids day-to-day Bitcoin volatility through regular automated purchasing, while new super simple account sign-up takes the friction out of Bitcoin ownership
LONDON: 31/03/2020 – Today, Coinfloor is making bitcoin buying even easier with the launch of Auto Buy™. The new service is the latest move to bring bitcoin to ordinary people following last month’s announcement around launching a range of consumer-focused Bitcoin investing services and a no-nonsense crypto education platform.
Auto Buy™ is a quick, simple and unique automatic bitcoin buying service that has been created to help Bitcoin enthusiasts easily build a portfolio of the digital currency. The service makes regular or one-off, automated purchases of Bitcoin easy for users so they never need to worry about the daily peaks and troughs of the underlying market, and instead tie their investment to long term trends. Users will no longer need to log-in to a Coinfloor account to purchase Bitcoin. Instead, they simply set-up their purchasing preferences (i.e. bitcoin purchase amount and frequency) in their own personal bank account and then purchases are made automatically, making Auto Buy™ the most hands-off and hassle-free way to invest in Bitcoin.
Discussing the launch of Auto Buy™, Obi Nwosu said: “Everyone understands that Bitcoin experiences incredible fluctuations in value, but there’s an easy way to protect yourself against this volatility – and even use it to your advantage. Although it may sound boring, by purchasing small, consistent amounts of Bitcoin every day, week, or month, you can avoid the risk and stress of buying at the top of the market, ensuring your investment tracks Bitcoin’s value over the long term. There’s simply never been an easier way to buy Bitcoin.”
Alongside Auto Buy™, Coinfloor is introducing a super simple sign-up function, designed to take users from account registration to bitcoin ownership quicker than any other exchange. Users don’t need to provide formal ID verification or two-factor authentication to register an account. Instead, ID and verification requests are performed when the first Auto Buy cash deposit is made from a user’s personal bank account, or when a user attempts to deposit more than £3000 into their Coinfloor account. This means users can register and immediately begin buying bitcoin with Auto Buy™. Those wanting to trade on the Coinfloor exchange, however, will require immediate full account verification.
Commenting on the super simple sign-up, Obi adds: “One of the only advantages cash retains over digital currencies is that it is frictionless because most users already have a bank account. Our mission is to make Bitcoin better than fiat currency in every way, which is why this service is such an important step for the whole market. The new streamlined sign-up process is the result of Coinfloor’s work with our regulatory, design and developer team to constantly enhance the Bitcoin ecosystem, without ever compromising on our values around compliance and security.
Learn more about the new Auto Buy™ services at: coinfloor.co.uk/autobuy