Buy Bitcoin by Stacking Sats with FastBitcoins
2020 is quickly becoming the year of Bitcoin, or should that be the year of Satoshi? Most people can’t afford to buy a full Bitcoin, so getting off zero requires buying sats, or ‘stacking sats’ as we say in the Bitcoin space.
Stacking sats is the term used for someone buying small but frequent amounts of satoshis, and building up their value in Bitcoin over time, but with the limited options available worldwide, it’s not possible for everyone.
Stacking Sats with FastBitcoins
By building on top of its existing product, FastBitcoins’ new launch has made the possibility of stacking sats available to more people than ever, and in doing so – making Bitcoin more accessible to the common person.
FastBitcoins remains a non-custodial exchange and sends payment on within minutes of the transaction going through. In doing so, the company has kept within the strict E.U. regulatory guidelines.
Want To Buy Bitcoin? Get Off Zero by Stacking Sats
Stacking sats is a similar method to what is commonly known as dollar-cost averaging (DCA), and FastBitcoins has just launched its stacking sats product.
It’s a great way for anyone wanting to buy Bitcoin, especially small amounts.
The website accepts USD, GBP, EUR, CAD, AUD, and the UGX, and you can buy with as little amount as you like, and with charges from 1.75% for a bank wire, the rates are highly competitive.
For anyone wanting to buy Bitcoin and stack sats, the setting up process is simple, but to make it a recurring thing they will have to make sure their account is regularly funded with enough fiat.
Stack Sats In Physical Locations
As well as online buying, FastBitcoins offers in-person buying at physical outlets in several locations around the world.
To use this, someone would find a merchant on the FastBitcoins website, and they can take their cash to the partner outlet, hand over the cash and buy Bitcoin or sats that way.
It seems like a more energy-sapping way to stack sats, but some people don’t have access to the online financial system, so this opens up more opportunities for anyone wanting to buy Bitcoin.
Payments Made via Lightning Network
Because LocalBitcoins is a non-custodial exchange, the buyer’s sats will be transferred to their account immediately via the lightning network.
The lightning network is a layer two payment gateway built on top of Bitcoin, with the main purpose of minimizing the cost and time of a Bitcoin transaction, and any purchase you make with FastBitcoins will appear in your wallet in moments.
Bitcoin Payment Options Opening Up
Managing Director of FastBitcoins, Danny Brewster said of the new product launch,
‘From today, registered FastBitcoins users can automatically buy bitcoins at a frequency of their choice. The only thing they will need to do is ensure that their FastBitcoin account remains topped up with a sufficient cash balance. When a purchase is made, users receive an email from FastBitcoins confirming it and requesting a delivery address or Lightning invoice for their bitcoins to be delivered straight away.’
‘New features such as automatic dollar-cost averaging gives users the ability to hold balances denominated in their local currencies and will ultimately allow them to have complete flexibility when purchasing bitcoins. We also ensure users get delivery of their bitcoins straight away.’
FastBitcoins remains a non-custodial exchange and delivers any bitcoin bought on the exchange immediately to the buyer.
By maintaining this procedure, the company has kept within the strict E.U. regulatory framework, even with the integration of the new product.
It’s yet another way for the average person to buy Bitcoin, or stack sats as is becoming the more likely as the value of Bitcoin continues to rise.
Most people are on zero, but getting off has never been easier with stacking sats is quickly becoming the most common way for anyone wanting to buy Bitcoin.
Author: Tommy Limpitlaw
How can I buy Bitcoin in Africa?
There are many reputable Bitcoin exchanges operating around Africa, and each country has their own local exchanges. However, the most recommended exchange is Kraken or CEX, or you can buy Bitcoin from Bitcoin marketplace, Paxful which you can find sellers willing to accept pretty much any currency. All of these exchanges and marketplaces are global with high liquidity and excellent customer service. Feel free to read the reviews of each one.
Why is one bitcoin so much?
Every bitcoin has value because they are useful as a form of money. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. And as the digital age continues to dominate, a currency that is built on the Internet and for the Internet, especially one that requires no third party and can be programmed, it just shows the potential of Bitcoin. But the truth is, it’s not really that expensive. The actual price isn’t really a true reflection of its value. It’s the market cap, and that is just over $200 billion today. A lot of money to me and you, but as an asset, $200 billion is tiny
How can I get free Bitcoin?
Nothing is really free, because even when you earn free Bitcoins you’re giving up your time, which is precious. But you can earn free Bitcoins. If you are a gamer, there are games like Bitcoin Bounty Hunt which allows you to shoot your way to Bitcoin riches. Or you can save your Bitcoin in an interest bearing account and earn some BTC interest. Be careful with these, and only go with legitimate companies, though.
Why should I buy Bitcoin?
Bitcoin is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.