Application Design: Bit by Bit Engine

In Bit by Bit, the Engine is our transaction identification and Bitcoin fusion mechanism that powers our connection to your traditional institution.

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Detection

Our program runs 24/7, ensuring all transactions you put through your connected bank accounts/cards are recognized and used to determine the size of your Bitcoin buy. Our partner, Plaid, provides this superpower, enabling any purchase made at any business around the world to be detected and utilized for your Bitcoin stacking.

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Purchase

When the Bit by Bit applied amount (e.g., spending × 10% — our default rate, which you can edit) surpasses $5, our program triggers an ACH pull from your connected bank account to fund the BTC purchase. Bit by Bit charges $0 in fees for this purchase.

Now, we know what you're thinking: how are we able to purchase spot Bitcoin with $0 fees for you when Coinbase and other major players charge 1.5–2.5% on every BTC buy?

The answer is twofold:

1. We charge every user a $5/month fee to use Bit by Bit, or $36/year ($3/month with our annual plan) for the convenient seamless service.
2. Because we do not personally hold any user funds in custody, our BTC purchasing is programmatically achieved through a licensed buyer and whitelabeled with our company for ACH draws. These draws directly and instantly fund a Bitcoin purchase and transfer it directly into user wallets.

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Fusion

Our product fuses Bitcoin accumulation directly with a consumer's spending. This practice significantly improves consumer financial outcomes, leveraging both existing traditional financial infrastructure and (almost more importantly) the existing financial practices of our users.