Coinfloor Slashes Fees Auto Buying Bitcoin
The longest-running bitcoin exchange in the UK, Coinfloor, has announced that if you set automatic dollar cost averaging (DCA) into bitcoin with them for 12 months, you will get your fees waived completely. They have also slashed fees for single one-time buys.
Getting your fees slashed completely after 12 months of auto-DCA doesn’t happen all at once. When you now buy bitcoin on Coinfloor via auto-DCA, your fees drop every three months by 25% until it eventually hits 0%. So starting today, all fees have been reduced to 0.99% per transaction for all customers to start off.
“Removing fees for autobuy is not just about making bitcoin more affordable, it’s part of our ongoing responsibility to both new and experienced users,” said Coinfloor CEO Obi Nwosu. “We want to instill the right investment behaviour in every customer by making it easy for them to stack sats and iron out the daily fluctuations in bitcoin’s price through dollar cost averaging. Autobuy enables anyone to build their investment easily by scheduling regular purchases via standing order through the Coinfloor app.”
The importance of having an option to DCA into bitcoin with no fees can not be underestimated. As Hass McCook explains in “How The DCA Army Will Drive A $1 Million Bitcoin price,” the more people that DCA into bitcoin, it builds an army of stackers taking bitcoin off the market. The more bitcoin that is taken off the market, the scarcer bitcoin gets, the more demand increases, and the higher the price rises.
DCA is a great way to stack sats and help move the world closer to hyperbitcoinization. And financially incentivizing users to use your platform with no fees is a great way to draw in new bitcoiners.
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