- Users will be allowed to purchase bitcoins directly by linking their bank accounts to their Casa wallets
- All the bitcoins which are purchased on Casa will be directly reflected in the user’s wallet
As per recent report, the cryptocurrency custody platform Casa, will be providing a bank-to-wallet service to its users. According to Casa, a maximum of $20,000 worth of bitcoin can be bought by the users per month with the help of the new services. In this platform, a fee of 0.99% is imposed on every purchase made. Mostly when the users transfer their digital assets to their own, a mining fee is said to be applied.
Further Details Regarding the New Update
According to the new update, the users will be allowed to purchase bitcoins directly by linking their bank accounts to their Casa wallets. Users are allowed to secure their holdings with the help of the self-custody service provided by Casa. Overall, the users get to have complete control over their holdings, including all their private keys.
All the bitcoins which are purchased on Casa will be directly reflected in the user’s wallet. These services are currently provided only for the users from the U.S. The limit of the purchase of bitcoin using this particular service is $5000 per week.
Nick Neuman, the CEO of Casa, mentioned that since the BTC purchases are made through its partner platform Wyre, all the bitcoin purchases made via Casa goes directly to the user’s wallet, this includes the mining fee as well. Although the crypto exchanges usually charge mining fee for the transfer of digital assets by the users.
Earlier in August, this year, the self-custody service launched by Casa allows the users to purchase and have their own bitcoin. This has been made completely hassle-free for the users to opt this service. Although there are some risks carried in this service, it still is a much better secure option rather than the assets being kept in an exchange.
The chief executive of Casa had explained the benefits of the self-custody service to its users by stating how the possibility of getting hacked is very low and the near impossibility of having the bitcoin stolen.
This latest update is also said to allow its users to grow their HODL stash without having their independence compromised. The announcement also notes that the price of the purchased bitcoin will be locked in right away. Since, the time taken by the ACH network to clear electronic transfers, five business days are held on before the bitcoin has been deposited into the Casa wallet.