- Bitcoin self custody service provider, Casa now allows its customers to buy and hold their own bitcoin.
- Selling BTC is not supported yet.
According to the official announcement, Casa now allows buying bitcoin with Apple Pay, which gets deposited instantly into the Casa App — straight to the multisig storage. The digital asset here is the real bitcoin and not the IOUs from an exchange. The Colorado-based bitcoin security service provider said,
“With this update: purchasing bitcoin is fast, safe, simple, and direct. You can grow your investment without the risks that come with using a centralized exchange.”
Traditionally, bitcoin investors have to register with the exchange, deposit funds for trading, and then move their digital asset to the wallet. But Casa wants to make the bitcoin journey of new users simpler and faster, said chief executive Nick Neuman. He said,
“With the dollar declining in value and a new era of potential inflation on the horizon, consumers are naturally looking for a safe asset class that’s outside the turbulence of the existing financial system.”
With the Casa app, one can buy up to $250 per day, with a $20 minimum order size, and up to $1,500 per year. The company plans to increase these limits over time.
The Casa app charges a flat processing fee of $0.30 per transaction, plus 2.9% of the total amount purchased. It further includes a mining fee as BTC purchase is sent straight to the Casa wallet.
The purchase feature is launched in their iOS app only and soon will be coming to the Android app too.
The company also clarified the feature as a 100% opt-in, so if one decides not to buy bitcoin, all the existing KYC-free features are preserved. In case you are buying BTC, know-your-customer requirements include no documents and no photo ID scans but card information, full name, email, phone number, and address.
All the information is collected and verified through Apple Pay and processed by their purchase partner Wyre.
“Minimal info collected,” says the company adding, KYC data is also “never stored on Casa’s servers.”