Bitcoin custody solution provider Casa has announced today that it is offering in-wallet bitcoin purchases, allowing Casa App users to forgo exchanges when they add to their HODLings.
In a release shared with Bitcoin Magazine, Casa explained that users can make these purchases using Apple Pay or debit cards, which connect them to retail exchanges through a secure API provided by Wyre. Wyre offers similar services to other projects in the space, such as DropBit.
Casa, which positions itself as a particularly security-conscious provider of private key management, noted that while this feature adds convenience, it does not impact custody or the safety of funds. By automatically moving funds into a wallet, the service would also theoretically eliminate any risk of hack or scam incurred by leaving bitcoin on an online exchange.
“This update builds on Casa’s dedication to simplifying the entire process of buying and managing bitcoin — without compromising on security,” per the announcement. “As with all Casa’s technologies, the new Bitcoin buying service is secure-by-design. Casa does not have custody of customers’ bitcoins at any point in the process.”
In response to questions from Bitcoin Magazine, Casa said that bitcoin buying fees will be market standard for debit card payments and charged through Wyre at $0.30 per transaction, plus 2.9 percent for U.S. cards or 3.9 percent for international cards. Each purchase will also include a mining fee, as they represent on-chain transactions.
Wyre will require some KYC information from users who buy BTC through the service, though Casa said that it will never store this data.
“We’ve worked with Wyre to keep KYC as minimal as possible — for both convenience and safety,” a Casa representative told Bitcoin Magazine. “There’s no document upload required — all information is submitted and verified through Apple Pay and processed through Wyre. Once live, Android users will need to supply basic…