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Casa Rolls Out ‘Bank-to-Wallet’ Bitcoin-Buying Services for US Customers
The cryptocurrency custody startup said users will now be able to buy bitcoin on the Casa app using their bank accounts.
Updated Sep 14, 2021, 10:25 a.m. Published Oct 29, 2020, 3:00 p.m.
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Users of cryptocurrency custody platform Casa can now purchase bitcoin on the platform using their bank accounts.
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The platform announced on Thursday it is rolling out the service for its U.S. customers, and the bought BTC would be directly deposited into a user’s wallet. Casa said users can buy a maximum of $20,000 worth of bitcoin per month using this service, with a fee of 0.99% on every purchase.
- According to Casa CEO Nick Neuman, the BTC is bought via partner platform Wyre. He said that because all BTC purchased with Casa is being sent on-chain directly to users' wallets, every purchase also includes a mining fee.
- A mining fee is also levied by crypto exchanges, generally at the point when users transfer their digital assets to their own wallets.
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BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative
Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
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- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
- Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
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