Trezor Debuts Direct-to-Self Custody Purchases of Bitcoin
Invity.io, the company behind the Trezor wallet software, has collaborated with Swan to let customers make recurring, direct-to-self-custody bitcoin transactions.
Invity.io, the Trezor hardware wallet’s in-app bitcoin exchange, has collaborated with bitcoin buying platform Swan Bitcoin to allow Trezor users to make recurring, direct-to-custody bitcoin purchases.
The partners announced the innovation on stage at Bitcoin 2022, framing it as a straightforward approach for bitcoin investors to adopt the important security step of self custody, rather than investing in an exchange and leaving their BTC there.
Bitcoin best practices recommend that consumers avoid storing their bitcoin on exchanges since this entails entrusting the operators with the responsibility of protecting the private keys connected with the bitcoin. Numerous hacking and breach incidents have proved that this may result in the loss of Bitcoin.
Invity has incorporated the Swan API into their Trezor Suite wallet application, which customers use to manage their bitcoin. The suite’s newly included “Save Into Bitcoin” button will direct users to the choices for making bitcoin transactions and setting up recurring purchases of different quantities. A connected bank account will then convert US dollars to bitcoin immediately, and the user’s Trezor will receive the acquired BTC straight.
Numerous Bitcoin proponents also advocate for the use of dollar-cost averaging as an investing strategy for bitcoin, since it helps minimize some of the asset’s famed price volatility.
“By providing new users with a simple option to purchase bitcoin in any quantity and on their own schedule, anybody can profit from dollar-cost averaging while keeping their investment as safe as possible,” according to an Invity announcement shared with Bitcoin Magazine.
Automated bitcoin purchases are intended to be enabled in the Trezor Suite upgrade scheduled for May 2022.