RoundlyX Review — Bitcoin Dollar-Cost Averaging
RoundlyX takes your everyday purchases, rounds them up to the nearest dollar, and invests that spare change into Bitcoin and other digital assets of your choosing.
Dollar-cost averaging into Bitcoin and other digital assets used to be difficult. One had to manually make cryptocurrency purchases at regular intervals, which takes time, effort, and more fees. RoundlyX simplifies this process.
“Crypto” needed a safe and responsible investing tool to further mainstream adoption. RoundlyX might just be it.
Pros and Cons
- No more logging into all your crypto accounts separately to check balances and make buys!
- No FOMO (Fear of Missing out) and a responsible dollar cost averaging.
- Accumulate your favorite digital assets when making everyday purchases.
- RoundlyX is still not international (US only) but are working on an international launch.
Connect the top digital asset exchanges to RoundlyX to view and manage all your digital assets in one place without security risk.
Roundup spare change into different (or just one) digital asset on any or all of several top exchanges.
Access curated news/analysis/services in the digital asset space for free.
How it Works
- Signup at RoundlyX.com
- Connect your bank/card account via Plaid.
- Connect your Digital Asset exchange account.
- …and you’re up and running.
The whole process takes less than 5 minutes. Roundups will start to populate in your Roundup Tracker as you use your connected bank account/card for everyday purchases. Depending on your connected exchange, once a certain threshold of accumulated roundups is reached a purchase order will fire for your pre-selected asset allocation (Bitcoin, Ethereum…over 30 different altcoins).
Comparison with other products
It’s a lot like the Acorns app but for digital asset investing.
If you’ve been in the tech or finance industry for any period of time, odds are you’ve heard of Acorns. Acorns app rounds up your everyday purchases to the nearest dollar and invests that spare change into an investment portfolio at regular intervals. This method of investment is referred to as “ dollar-cost averaging.”
An advantage of a dollar cost averaging investment strategy is that it protects you from FOMO (fear of missing out) when the market (crypto or stock) fluctuates.
RoundlyX is to crypto what Acorns is to stocks.
See all your connected exchange balances in one place…
Manage each connected exchange account via the RoundlyX dashboard without security risk…
Performance and Security
Unlike actual cryptocurrency exchanges, RoundlyX does not hold your assets. The assets are all stored in your existing exchange account that you have connected to RoundlyX (Coinbase, Voyager, Kraken, Binance, etc.). Therefore, if a hacker got into your RoundlyX account they could not steal your assets. That is the coolest part. You keep the best parts of your current exchange but then get a safe roundup and portfolio aggregator tool via RoundlyX too.
Flat price of $1 a month. Get $4 in Bitcoin after purchasing $100 of crypto via RoundlyX. Use code COINCODECAP at signup to qualify.
Exchanges are still figuring out big tools to build (futures, options, etc.) but RoundlyX focuses on crushing the basics with a solid roundup tool.
It is still early in the space but this startup is definitely customer-focused and provides a valuable service in a volatile but exciting asset class.