The French Bitcoin savings company Bitstack joins Y Combinator and launches its mobile application on the App Store and Google Play.
Paris, July 6, 2022 — Bitstack, the French Bitcoin savings company registered as a digital asset services provider (PSAN) with the Autorité des Marches Financiers (AMF), announces that it has been selected by the most prestigious American startup accelerator Y Combinator, officially launches its mobile application today on the App Store and Google Play on the App Store and Google Play after 4 months of beta, and draws the first conclusions from its pre-launch.
Initially launched in beta in March 2022, the Bitstack mobile application allows you to create savings in Bitcoin in a simple, fun and painless way. Thanks to the mechanism of automatic rounding of expenses (example: a coffee purchased for €2.60 is rounded up to €3.00 and the €0.40 is set aside), savings are created easily and in Bitcoin, in a responsible way, without thinking about it.
Bitstack addresses the problem of Bitcoin price volatility by using the DCA (“Dollar-Cost Averaging”) method, a long-term investment strategy consisting in making regular purchases to smooth out the risk associated with volatility, while being exposed to the long-term bullish performance of Bitcoin.
Now available on the App Store and Google Play, the application can be downloaded for free to start rounding up your expenses and saving small change in Bitcoin. Users can then buy, sell, and send Bitcoin.
Designed to be simple and accessible to everyone, the app offers solutions for different lifestyles: automatic rounding of expenses, recurring purchases, and one-time Bitcoin purchases from €1 per card.
“We saw a real enthusiasm for Bitstack, even though we were in beta. More than 5,000 French people have already created an account and save an average of €76 in Bitcoin per month, without any effort.”, comments Alexandre Roubaud, CEO and co-founder of Bitstack.
Y Combinator, the Californian accelerator that discovered and supported global successes such as Airbnb, Stripe and Coinbase, chose Bitstack for its latest promotion.
Entering the program will allow Bitstack to be supported by the best international mentors for 3 months and to receive $500,000 in funding, completing the one million euros fundraising already carried out.
“We have a lot of ambition for Bitstack, which is positioned as the simplest solution in Europe for investing in Bitcoin. Our decision to register as a PSAN with the AMF allows us not only to offer a secure solution that respects the French regulatory framework, but also to anticipate the European MiCA regulation. This is what convinced Y Combinator to support us in accelerating our growth and becoming the reference Bitcoin Account for Europeans.”, concludes Alexandre Roubaud.
The initial results of Bitstack are promising and users are proving it. After a few months of use in beta, Bitstack comes back with a few key figures on the use and expectations of its customers.
“The study showed that 94% of savers are not worried about the recent fall in the Bitcoin price. On the contrary, 83% see it as an opportunity to buy cheap Bitcoin and that is also our vision, which is why it is interesting to do DCA with Bitstack!” , adds Alexandre.
Survey conducted on 742 French users of the Bitstack application, from Tuesday 28 to Wednesday 29 June 2022, based on quantitative questions.
Created in April 2021 by Alexandre Roubaud and Kabir Sethi, the French company Bitstack based in STATION F in Paris offers a mobile application that allows you to save in Bitcoin in a simple, fun and painless way.
Bitstack is a regulated company, registered as a digital asset service provider (PSAN) with the AMF and the ACPR Banque de France under the number E2021—027.
media@bitstack-app.com
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Press Release
Europe’s leading Bitcoin savings app set out to raise $2 million. Faced with exceptional demand — $26 million in investment pledges from over 25,000 people on the waitlist, a record in Europe — Bitstack expanded the round to $4.5 million. By bringing together over 8,000 investors, Bitstack has completed the largest crowdfunding round in the European Union.
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A trip. A deposit on a home. Your children's future. Behind every saving habit, there's a horizon.
