Bitstack, saving in Bitcoin (BTC) in a simple and fun way

This article is written in partnership with bit stack (find out more)

  1. Accumulate Bitcoin effortlessly with Bitstack
  2. What are the benefits of saving with Bitstack?
  3. Conclusion on Bitstack

Accumulate Bitcoin effortlessly with Bitstack

And if we could save bitcoin (BTC) automatically ? This is the idea that we had Alexandre Roubaud and Kabir Sethi, 2 young entrepreneurs to whom we owe the French startup Bitstack. The 2 friends met in Montreal, before Alexandre Roubaud left to work for a Canadian startup called Moka.

The latter had a simple, yet innovative project: to create an automatic savings system by rounding daily banking transactions up to the nearest euro. This is where the 2 partners decided to create Bitstack, a project based on the same model, but with a small difference.

Savers will not see their rounded savings either on a booklet, or on a home savings plan (PEL) or even through shares, but in Bitcoin.

But why save in Bitcoin rather than in conventional currency? According to the Bitstack team, Bitcoin is a better long-term investment for the simple and good reason that the current banking system is debt-basedand that it is therefore mechanically destined to collapse sooner or later.

An idea also defended by the creator of Bitcoin Satoshi Nakamoto himself:

The fundamental problem with conventional money is all the trust that is needed for it to work. The central bank has to be trusted not to devalue the currency, but the history of fiat currencies is full of breaches of that trust. »

Bitcoin, unlike currency issued by a central bank, cannot be printed endlessly. No more than a maximum of 21 million units will be able to circulate in the market, and Bitcoin does not belong to any central entity.

Since its creation, it has been a safer value asset over the long term than conventional currencies, as can be seen from its inflation rate.

Evolutionary graph of the number of BTC in circulation (in blue) and its inflation rate (in yellow)

It should be noted from the outset that in order to be able to offer its services, Bitstack is registered as a digital asset service provider (PSAN) with the Autorité des marchés financiers (AMF) and the Autorité de Contrôle Prudentiel et de libération (ACPR).

Let’s find out now what Bitstack actually offersand what his model returns in the long run.

What are the benefits of saving with Bitstack?

First of all, before you can enjoy easy painless bitcoin saving through Bitstack, you can register today in order to get early access to the applicationwhose official release is scheduled for the third quarter of this year. Until then, all users enjoy 0% fees on Bitcoin purchases/sales.

We invite you to sign up for Bitstack via our link belowthe latter will allow you to earn €5 in the form of Bitcoin once you have completed the identity verification process (KYC) on the platform.

Once the link has been received by email, all you have to do is download the application then proceed to verify your identity. Last step, it will be necessary to link Bitstack to your bank account in order to automate the rounding of your transactions.

Note that Bitstack uses the same security measures as the big banks and does not have access to your bank details.

Then you just need to set up your savings plan. Bitstack offers 3 options:

  • Automatic rounding : for example, if you carry out a transaction of 9.30 €, then 0.70 € will be added to the latter, this amount being then automatically converted into Bitcoin. It is possible to integrate a multiplier of 2, 5 or 10 in order to save more funds with each transaction. All rounding is calculated at the end of the week and is then transformed into Bitcoin before being credited to your Bitstack account;
  • Recurring savings : you can define a recurring savings plan of the amount you want, which will be applied every week, every 2 weeks or once a month. For example, you can automatically invest €50 in Bitcoin monthly automatically;
  • One-time purchase : Bitstack also allows to buy Bitcoin directly from 1 €. All you need is a bank card, no superfluous transaction is necessary.

You are not really convinced of the interest of saving in Bitcoin? Bitstack offers a tool to assess the amount of savings an investor could have made depending on the amount invested, the frequency of investment and a specific period. This allows you to get an idea of ​​​​the interest of long-term investment in Bitcoin.

Bitstack Simulator Bitcoin Earnings

We talk here planned investmentor ” DCA in English, meaning ” Dollar Cost Averaging “. In other words, it defines a way of investing regularly and over the long term in a certain asset in order to smooth out the risks linked to the latter’s potential volatility.

For example, by investing in Bitcoin on a regular basis and over several years, your portfolio will sometimes face to increasessometimes to dropsbut will most likely follow a long-term uptrend.

Past performance does not predict future performance, but the price of Bitcoin, thanks to its peculiarities and to its growing adoptionis expected to take the direction of the rise over a long period of time.

This is what Bitstack offers here, but fully automated way.

Note that once the BTCs are placed in your Bitstack account, these can be withdrawn at any time, they are not locked. In addition, if you have any concerns, a text chat is directly integrated into the application so that you can easily get in touch with support.

Conclusion on Bitstack Services

For some, build up savings in the form of cryptocurrencies can ask questions. We are well and truly accustomed to the banking system as we know it, with some having a livret A, others having a housing savings plan, and some even having savings in the form of physical money.

That being said, Bitcoin can however present itself as a very interesting alternative, which in no way excludes the fact of continue to save in a traditional bank account at the same time.

We are currently facing a inflationary banking system, and this, added to real estate prices which are constantly climbing throughout France and to a minimum wage which is struggling to evolve. But above all, the European Central Bank (ECB) continues to print money, creating money ex nihilo, which has the direct effect of fueling inflation.

Also, it might seem rather judicious to build up cash in Bitcoinan asset accessible to all, independent of the world market, uncensorable and virtually immune to a probable devaluation due to its immutable quantity.

Here Bitstack wants to democratize access to Bitcoin for everyone: a decentralized currency limited to 21 million units.

The French startup, based at Station F in Paris, has also been able to place itself in the list of 100 startups to invest in by the economic magazine Challenges.

Finally, it should be noted that in 2021, more than 60% of BTC held in wallets (outside centralized platforms) did not moveand thus already constitute a form of savings for many people.

👉 To not miss any future Bitstack announcements, follow their Twitter account

Graphic source: Plan B

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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Maximilien Prue

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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

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