Topic: SaveinBitcoin - free open source software to buy bitcoin automatically every day (Read 178 times)

Save in Bitcoin

Buy bitcoin automatically every day, with SaveinBitcoin

SaveinBitcoin is a free and open source software, that automates the recurring conversion of money from your bank account to your own bitcoin wallet.

Everyone can download and use this software safely and for Free.

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Why use SaveinBitcoin

Imagine you decide to invest a small amount of money every week into Bitcoin, with a very long term vision (many years).

Doing that manually might involve creating an habit of making a new deposit to an exchange every week, log in there, place an order, and then withdraw the proceeds.

This requires a lot of discipline, and there is some work to do on each step – every single time.

That approach is prone to forgetfulness, mistakes, and temptations to steer away from the original plan.

It’s simply a recipe for failure, and indeed, many people fail to save any significant amount for these exact reasons.

You don’t want to find yourself among those people who fail to save because of a flawed approach, do you?

Automation is the key to solve this problem.

SaveinBitcoin can help you with that.

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What exactly SaveinBitcoin does?

It automates a recurring investment in bitcoin, while minimizing costs and risks.

Once it is set up, as you send money from your bank account to your own exchange account, SaveinBitcoin will manage those funds, and execute buy orders for you.

The software will spread your acquisitions evenly over time, and right after each purchase it can send the bitcoins to a wallet of your choice.

You just need to instruct your bank to (repeatedly) wire some money to an exchange you trust; SaveinBitcoin can safely take care of everything else for you.

You will get alerts if something gets stuck in the process, and you can opt in to receive notifications upon any new deposit, purchase, and withdrawal.

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How it works

* When a new bank wire transfer is received by the exchange, and credited to your account, it gets detected by SaveinBitcoin, which then moves the money to its own dedicated sub-account at the exchange.

* Those funds are splitted into one or more buy orders (up to 1 per day) of equal amounts, that are scheduled to be executed at regular intervals.

* The order type is instant, meaning it will immediately trade a fixed dollar amount for BTC, at whatever the market ask price is in that moment.

* As soon as bitcoins are purchased and made available in your exchange sub-account, SaveinBitcoin sends them to your own wallet.

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Features of SaveinBitcoin

Security

SaveinBitcoin can manage your funds safely without the need for you to trust any part of it, as long as you set up your exchange account correctly, and limit the permissions for the API keys used by SaveinBitcoin.

For detailed instructions on how to do that, please refer to the section named “Security Measures” under “How to install and set up”.

Also, as usual you should take care of your own bitcoin wallet private keys. For myself, I am using an hardware wallet.

If you follow the best practices for bitcoin wallet management, and the instructions provided here, you will be the only person who can spend your own funds.

Alerts

SaveinBitcoin will send you an email if something goes wrong:

* When new deposits fail to arrive at the exchange after a given amount of time (so you can check with your bank and review your wire orders).

* If scheduled trades don’t get executed for any reason.

* When your own wallet hasn’t received any new bicoins after a given amount of time (so you can check with the exchange why the withdrawal requests failed).

* If you set up everything according to the instructions, you will get an email also if SaveinBitcoin itself fails to run (so you can check your own server for uptime or other issues).

Notifications

SaveinBitcoin can send you a notification each time an action is performed:

* A new deposit is received

* A new trade is executed

Reports

When you enable this feature, SaveinBitcoin produces an (optionally password protected) online report that shows in real time:

* The available balances at the exchange

* Your own bitcoin wallet’s balance

* A list of all the deposits received by the exchange

* The current queue of pending orders

* An history with details for each executed orders

* A log of all bitcoin withdrawal requests sent to the exchange

* A list with the details of each blockchain transaction that resulted in bitcoin sent to your own wallet

Logs

* SaveinBitcoin stores text log files of everything it does.

* You can choose for how long it will retain the log files.

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Technical Requirements

Basically: a bank account, an exchange account, a web server, a wallet and an email.

* A bank account that allows you to send money to cryptocurrency exchanges (preferably, your banking also supports scheduling of recurring transfers).

* An active exchange account (Bitstamp is the only supported in the initial release, I chose it for many good reasons you can read on SaveinBitcoin.com).

* A bitcoin wallet address to be used only for this purpose (a paper or hardware wallet would be perfect).

* A web hosting environment that supports PHP and MySQL.

* SMTP settings to send emails (that can be from your email or hosting provider).

* An email address to receive alerts and notifications.

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More info and download

Find detailed Install and Set Up instructions, FAQs, a roadmap of the project and more resources at SaveinBitcoin.com

* Website: Saveinbitcoin.com

* Source: https://github.com/SaveinBitcoin/Save-in-Bitcoin

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How you can contribute

Please, Try it

This is the first public release of an homemade piece of software currently running on my servers only. I'd love if you could try it on your own server. Your feedback will be immensely helpful!

Tell others about SaveinBitcoin

If you know people who may benefit from using an automated approach to Save in Bitcoin - tell them that it's possible. Help them try doing it, if you can.

Please, Donate

I was originally planning to use the code for my family, then soon realized that releasing it publicly could be a contribution to the greater Bitcoin family.

I am loving every moment spent on this project, and I'm proud of the result, but I only got so far during my last 3 weekends, and on this 4th one I'm finally releasing it in public.

I'd love to commit more of my time to see it grow, if only, not on weeknds after other work.

If you like this project and want to support its further development, Please, donate BTC:

3CQgnFPtcChK7SqH6HzRhBTULZEpdhH3Kv

Thank You!