Beaver Bitcoin, a Toronto-based non-custodial platform, earlier today announced its launch, allowing Canadian users to set up an automatic weekly Bitcoin purchase or Dollar-cost averaging (DCA) directly from their bank account.
Beaver Bitcoin to Boost the Accumulation of Bitcoin
Being a non-custodial exchange and a DCA-based platform, the idea behind Beaver Bitcoin is to introduce a buying strategy that avoids speculation in a volatile market as well as enhance the accumulation of more Bitcoin over time.
The platform’s chosen method of operating is somewhat decentralized to some extent. Beaver Bitcoin enables users to purchase Bitcoin right from their bank account to their self-custodial wallet, eliminating any form or risks associated with custodial exchanges.
Aubrey Jesseau, founder and CEO of Beaver Bitcoin, stated in an announcement, “We’ve seen how custodial exchanges can misuse customer funds to engage in highly risky trades. When these exchanges collapse and declare bankruptcy, customers lose everything. We see an opportunity to serve Canadians in a way that existing platforms and exchanges have not. We’ve streamlined the experience of buying Bitcoin, making it accessible to the next wave of Bitcoin adopters in Canada.”
When making use of Beaver Bitcoin, users can choose to deliver their weekly purchased Bitcoin to any preferred Bitcoin address controlled by them. Given the non-custodial concept, the “exchange never holds Bitcoin on behalf of the customer,” according to an announcement.
Speaking of Bitcoin, the largest crypto by market cap has so far been struggling to make any significant move given the turmoil in the market and the upcoming events, including U.S CPI, FOMC rate decision, and BoE rate decision set to happen this week.
Bitcoin is currently trading at $16,989, down by 1%, with a 24-hour trading volume of $17,919,207,927, at the time of writing.