Bitstack is a very interesting mobile app that allows you to round up your daily expenses and automatically save them in Bitcoin.
This is a particularly convenient service for all those people who are new to crypto investments and do not know how to approach with caution.
If you do not have an entry strategy and/or do not have a suitable initial capital to start the adventure in the crypto world, Bitstack is for you.
Let’s see how it works below.
What is Bistack?
Bitstack is a mobile application designed to facilitate saving and investment in Bitcoin. Its mission is to provide people with the tools to participate in the revolution of the cryptographic world, through easy steps.
The service acts as a native Bitcoin neobank, where users can choose to what extent to allocate a portion of their savings to purchase the cryptocurrency.
Bistack comes to the aid of all those people who do not have enough capitale to make an investment and who do not have the skills to do so.
Through the “arrotondamento” function, it allows you to allocate a predefined portion of your spare change and use it to purchase Bitcoin on a recurring basis.
In this way, the commitment of saving becomes almost imperceptible, adding a few coins gradually as you carry out daily transactions.
Each user can choose their own amount to set aside, based on their economic needs, and enjoy the fruits of the growth of the crypto market.
The motto is: “Save without doing nothing”.
Very important to emphasize that the company of Bitsack is based in Paris, France, and is regulated as a PSAN operator with the AMF.
This formality reassures French and European investors who prefer to opt for safe solutions that comply with the regulatory standards of the Union.
Furthermore, the financial operations of Bitstack users are private and secured by an encrypted system for data storage.
Since its launch, the application has allowed its customers to set aside a total of 182 billion sat, for a total of 1,820 BTC.
How to easily save money with Bitstack and participate in the Bitcoin revolution
Bitstack works in a very simple and intuitive way.
To use it, simply download the app on Android or iOS and connect your bank account, which will be used to deduct a predetermined savings amount.
We point out that to use Bitstack it is necessary to enter your phone number and complete the KYC verification.
Once the registration is completed, you can activate the “rounding” function and decide with what commitment to allocate money to invest in Bitcoin.
In practice, the application rounds up all your daily expenses made from the specified account and transfers the remainder into a digital piggy bank.
Periodically, the amount set aside will be used to accumulate the cryptocurrency through a convenient and automated process.
It is not necessary to determine the right time to buy and no specific knowledge in the field of investments is required.
Even if it is just about rounding up the cents, over time it could amount to a significant sum, especially considering the performance of Bitcoin.
Bitstack lets its users choose the multiplier with which they wish to set aside savings from expenses.
From purchases for food and clothing, to bill payments and subscriptions, the application adds up all the change until it forms a weekly “money pot”.
For example, if you purchase an item for €19.60, the Bitstack app will round up to €20 and deposit the 40 cents into your account. The 40 cents are then immediately converted into bitcoin. And so on for all your purchases.
Rather than playing the “scratch and win” with the leftovers of your expenses, Bitstack provides a simple and effective way to build a Bitcoin portfolio effortlessly.
Small negative note: the application charges a fixed fee of 1.99% on every type of transaction made on the platform (cashout, internal operations)
DCA and long-term investments: the best way to approach Bitcoin as beginners
Bitstack not only allows you to set aside the remainder of your expenses and convert it into Bitcoin, but it also offers the possibility to start a Dollar-Cost Averaging (DCA) plan.
This simple strategy of investment consists of regularly purchasing a certain quantity of assets, leveling the average load price.
By doing so, the risks of a single purchase at a market price that is too high are mitigated, averaging the overall value of the investment each time.
Very often those who approach Bitcoin for the first time do so only in the middle of a bull market, when the cryptocurrency’s prices are at all-time highs.
The same people invest without initial preparation, aiming to make stellar profits in a short time. The result is that the majority of these individuals end up selling at a significant loss, making the operation a colossal failure.
Rather, the best method to get a foothold in the crypto world as beginners is to look at the long term and be patient.
Thanks to Bistack, users are facilitated in managing the recurring purchase plan in BTC, leveraging a secure and fully automated service.
To give an idea of the potential of Bitcoin in the long term, we can observe the following simulation.
As shown in the figure, if in the last 5 years we had regularly invested 50 euros a week in Bitcoin, we would now have a wealth of 58,220 euros.
You can make your personal simulations by entering the amount you intend to save each week. Depending on the period and the price of BTC, the evaluation can obviously be more or less high.
How to spend your crypto instead?
Among the various things, Bitstack also allows you to spend the Bitcoins accumulated through weekly savings and/or DCA.
Bitstack is indeed also launching a debit card, with which users can convert crypto into FIAT and make purchases at a wide range of merchants.
In any case, the commission costs, as mentioned earlier, stand at an excessively high figure (1.99% on each transaction).
There are other more convenient methods (and sometimes more anonymous) to spend one’s crypto at a lower cost.
One of the most used means by Bitcoiners is Bitrefill, an e-commerce store where it is possible to purchase gift cards, e-sims, and digital top-ups by paying directly with crypto.
For Italian users, this platform is particularly convenient as it does not require KYC and allows spending without revealing their data to the authorities.
Other similar solutions, but less known and reliable compared to Bitrefill are: Coinsbee, Coingate, Cryptorefills, Bitpay, and Paywithmoon.
Also consider the option of going through centralized exchanges and using the respective credit cards, or executing cashout to a bank account (with the respective declaration in case of capital gains).
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