Multisig Bitcoin Vault Maker Teya The company announced yesterday that it will enable users in the United States to buy Bitcoin through the app and then transfer it directly to self-directed accounts via hardware wallets and multi-sig vaults, including those from Ledger, Trezor, Foundation and ColdCard.
🚀 Start buying Bitcoin 🔥
We are launching a much requested and exciting feature that will allow US-based users to buy Bitcoin directly into their Self-Covered Vaults.
Low fees and no complicated transfers from exchanges. pic.twitter.com/aWB9vwDErZ
— Theya Inc (@TheyaBitcoin) August 20, 2024
This unique feature not only includes instant funding and low fees, but also takes the hassle out of moving your Bitcoin from an exchange into your self-custody.
“We are excited to introduce this highly requested feature,” said Sriram Bhargav Karnati, co-founder of Theya, in a press release shared with Bitcoin Magazine. “By enabling the purchase of bitcoin directly into our self-managed storage, we eliminate the need for complicated transfers from exchanges and provide our users with unparalleled flexibility in how they acquire and store their bitcoin.”
Other key benefits of the new feature include a faster identity verification process that makes buying Bitcoin quick and safe, and no longer requires address whitelisting (getting permission from an exchange to send Bitcoin to a specific address).
The new feature currently leverages the ACH payment system for Bitcoin purchases, with Theya planning to introduce a wire transfer option for larger purchases.
To enable ACH transfers, Theya Cybridis a regulated payments platform registered as a Money Services Business (MSB) in the United States. Know Your Customer (KYC) Theya will process it so that it is not necessary for it to collect, store or process any of its customers’ personal information.
“This is a major step forward in making acquiring bitcoin accessible and secure,” Carnati added. “We believe in the importance of giving users choice in how they manage their bitcoin, and we’re focused on developing tools that make self-custody easy, powerful, and user-friendly.”
For more information on Teya and Karnati, Founder’s Work About the company and its co-founders.
