- Trezor enables DCA bitcoin purchases through its hardware wallet.
- Users can automatically acquire bitcoin at fixed rates.
- Bitcoin purchased with the DCA service will automatically be held on the hardware wallet.
Trezor, a hardware wallet designed by Satoshi Labs, now support dollar-cost-averaging automated bitcoin purchases within the Trezor Suite, per a release sent to Bitcoin Magazine.
“The key to Bitcoin’s future is to welcome people who are currently intimidated by cryptocurrencies,” said Pavol Rusnák, co-founder of Trezor Company. “But we’ve found that new users continually worry over two things: finding the perfect time to enter the market and keeping their Bitcoin safe. This integration solves both.”
Dollar-cost-averaging (DCA) is a way to accumulate an asset overtime without trying to beat the market. Users simply denote the amount of bitcoin they would like to purchase, set the time frame for how often they’d like to make the purchase, and overtime users will make purchases during both the dips and the rips.
Additionally, using a hardware wallet like Trezor to set up a DCA enhances the process since the bitcoin is already being placed in cold storage as soon as it is acquired.
This new process was enabled by Invity, a cryptocurrency infrastructure provider. Additionally, Swan Bitcoin will support the U.S. while BTC Direct will support the platform in Germany, Belgium, Spain, The Netherlands, and the Czech Republic.
Trezor has also published a blog on its website to give a more detailed breakdown of how this new service will work in relation to the Trezor Suite.
