CoinTree, an Australia-based bitcoin exchange, has recently announced their latest feature that provides its users with an option to set up a recurring bitcoin purchase plan. The feature will enable users to automatically purchase bitcoin from their standard bank account at regular intervals.
CoinTree, founded in 2013, is the first Australian exchange to offer this feature and aims to allow Australian residents to gradually accrue bitcoin over time. With this new level of automation, the company aims to offer an easy way to the users to slowly diversify their investments into bitcoin and eliminate the hassle of frequent trips to the bank or reminders to transfer funds.
"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," said CoinTree founder Shane Stevenson.
However, the company said that the feature is currently capped at AUD $200 per order, with at least five days between purchases.
The company already accepts cash deposits, BPAY and POLi, the Australian online payment system, for instant bitcoin purchases. It continues to focus on simplifying the entry process for new users to bitcoin.
