CoinTree to allow users to make bitcoin purchases from their bank account

Investing | January 28, 2016 By:

CoinTree announced a new feature that will allow users to make bitcoin purchases from their standard bank account.

To ensure the security of each user’s accounts the new feature of automatic purchases will be available with at least a five days interval between regular purchases and capped at AUD $200 per order. The company said that the limits are to deter internet banking fraud, which continues to rise in Australia. Regular purchases are designed to help people accrue bitcoin gradually over time, and this tradeoff is a nice balance.

“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.

CoinTree is an Australia-based Bitcoin exchange.