2020 is quickly becoming the year of Bitcoin, or should that be the year of Satoshi? Most people can’t afford 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.
Stack Sats with FastBitcoins
By building on top of its existing product, FastBitcoins’ new launch has made 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.
Get Off Zero by Stacking Sats
Stacking sats a similar method to what is commonly known as dollar-cost averaging (DCA), and FastBitcoins has just launched its stacking sats product.
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 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 exchange it for sats.
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 get into 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 to minimize the cost and time of a 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.’
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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 some bitcoin, or stack some sats as is becoming the more likely as the value of Bitcoin continues to rise.
We should continue to see products like this open up globally, and as we do, it’s without question that Bitcoin adoption will naturally grow. Most people are on zero, but getting off has never been easier with stacking sats products available.
Author: Tommy Limpitlaw