What are Round Ups?
Round Ups lets you automatically buy bitcoin with your spare change. First, link at least one account, such as a bank account or credit card, to Coinbits, and enable Round Ups. Now, whenever you make a purchase with that account, the purchase amount will be rounded up to the nearest dollar. Coinbits keeps a tally of these Round Up amounts and buys bitcoin for you with the total at the beginning of each week.
How do you calculate the amount of spare change to invest after my purchases?
We partnered with a software provider called Plaid to connect you external financial accounts to your Coinbits account. It also allows us to view the amounts and business line item names associated with your transactions.
Does Coinbits keep a record of my purchase details?
No, we do not. Each time you sign on to Coinbits, your transaction data is retrieved via Plaid.
Can I use Round Ups to accelerate my savings beyond just spare change?
Yes. You can activate a "multiplier" for your Round Ups to accelerate your savings, which multiplies each Round Up amount by 2, 3, 5 or 10.
For example, if you made a transaction resulting in a $0.10 Round Up, and you had your multiplier set to 2x, the transaction would result in an addition of $0.20 to your weekly bitcoin saving amount.
How to link debit and credit cards to Round Ups
You can link as many debit and credit cards to your Coinbits account as you’d like. The Round Ups from all your linked cards will be added together to purchase bitcoin each week.
To link a debit or credit card, head over to Settings and click "Add Card". A Plaid interface will appear. Enter the username and password that you normally use to access this account online. Note that Coinbits does not see your username and password during this process.
How to pause Round Ups
You can pause Round Ups at any time, for as long as you like. This option can be found on the Settings page.
Here's a screenshot of what to look for: