Japanese exchange Zaif introduces the Coin Reserve service
A couple of days ago, Tech Bureau, the operator of the Japanese Zaif digital currency exchange reportedly managed to raise $6.2 million following a Series A funding round.
Now, according to a recent blog post, it seems like the funds are being put to good use. With this in mind, the Zaif Exchange is proud to announce a new service, called the Zaif Coin Reserve, meant to allow automatic purchases of digital currencies.
With this in mind, once the option is enabled, the service will proceed to deduct the set amount, directly from the users’ bank accounts each month. Once the funds are debited from the bank accounts, they are then converted into the cryptocurrency of choice, at the current exchange rate.
Zaif believes that the new service will play an essential role in reducing investors’ anxiety associated with the volatility that bitcoin and other digital currencies are known for. The strategy, also known as Dollar Cost Averaging, isn’t new for investors, but the fact that Zaif allows bitcoin conversation makes the difference.
The idea behind the strategy is that this way, users are unable to predict the cost and hence, investments will be made no matter the value of bitcoin. In the long run, if bitcoin is successful, this will bring out the great efficiency of the investments made in the past.
At this moment in time, the minimum threshold for the reserve is of $9, whereas the maximum limit is of roughly $9100. It’s important to point out the fact that users retain the right to change the reserve amount whenever they wish to do so or give up on using the service.
Based on everything that has been outlined so far, what do you think about the Zaif exchange’s newest feature? Let us know your thoughts in the comment section below.
Source: Zaif post
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