Contributor, Benzinga
March 7, 2022
RoundlyX
Overall Rating:
securely through RoundlyX's website

RoundlyX allows users to round up their spare change from everyday purchases into their favorite digital assets at their favorite exchanges. As a non-custodial platform, RoundlyX lets  users manage and view holdings at multiple exchanges without additional security risks. RoundlyX has integrated with top exchanges, gained traction with trusted influencers and raised funding to expand internationally. It supports top exchanges, like Voyager, Coinbase Global Inc. (NASDAQ: COIN) and Okcoin, and over 50 digital assets, including Bitcoin, Ethereum, Dogecoin and many more.

Best For
  • Long-term investors
  • Those who do not have large amounts of money to purchase crypto
  • New crypto users/investors
  • Anyone who does not want to invest actively on their own
  • Anyone who does not have the time to invest
Pros
  • Eliminates market timing
  • Mobile app
  • Automatically buy cryptocurrencies with spare change
  • The ability to set up recurring buys
  • Extremely easy to set up an account
  • The ability to add other investments and track them via the dashboard
  • The integration of Prizeout (gift card purchases)
Cons
  • Lack of chat support

RoundlyX Ratings at a Glance

Customer Service
Pricing
User Benefits
User Experience
Overall

RoundlyX Video Review

Purchase Bitcoin and Digital Assets With Roundups

Opening a RoundlyX account is easy. Actually, everything about RoundlyX is straightforward. Connecting a bank account takes a minute or so, and changing any other settings to your liking takes no time at all. Currently, you can connect to six different crypto exchanges, including Coinbase, Gemini, Kraken, Voyager, Okcoin and Binance International. 

After joining and configuring all the settings to your liking, you need to do nothing else. RoundlyX will round up to the nearest dollar whenever you make an everyday purchase.

When your roundup purchase amount reaches a certain threshold, a buy order to purchase Bitcoin or whatever crypto you choose will be triggered. You can even multiply your roundups 2x, 3x or 10x to reach the buy threshold faster. Another nice feature is the ability to set up automatic recurring purchases. You can choose to buy between $45 and $1,000 and schedule them to occur daily, weekly or monthly. 

Another cool feature is the ability to track all your investments from the dashboard so you can conveniently view your assets across multiple platforms. Besides your crypto holdings and savings accounts, you can also connect your brokerage accounts. For example, you could connect your Coinbase, Gemini and Kraken accounts and your ETrade, TD Ameritrade and Robinhood accounts.

Another feature allows you to add investments manually if you need to do so for crypto that is not on a connected exchange or that is stored in a wallet. You could also manually add non-fungible tokens (NFTs), real estate, precious metals or whatever else you would like to track. From the main dashboard, you have the choice of viewing all your investments in four different ways. You can view all your investments combined, or just your crypto assets, your NFTs or your manually added investments. 

RoundlyX is very similar to Acorns, which does roundups and recurring deposits but only deals in fiat currency and legacy markets. The ability to purchase crypto using spare change is a game-changer. Having a platform that you can set and forget, allowing it to accumulate automatically, eliminates trying to time the market. Dollar-cost averaging has proven to be an excellent strategy for long-term investing, and RoundlyX is a perfect way to do it. 

RoundlyX Customer Service

RoundlyX receives a rating of 4 out of 5 for its customer service. Customers can contact RoundlyX by email or by messaging it on Twitter. Its email address is in the Contact Support section, as well as a link to its Twitter page. 

RoundlyX support responded to a couple of emails within 24 hours, which seems pretty good. One improvement would be to eventually have a chat feature on the website. The addition of chat would really benefit customers who need immediate assistance and can’t wait for an email or Twitter response. 

RoundlyX Pricing

RoundlyX gets a 5 out of 5 rating for its customer pricing. For the services that it provides, $1 a month is a steal. Acorns charges three times more at $3 per month, and that’s still an outstanding deal. The ability to dollar cost average into crypto positions by using spare change is invaluable. 

RoundlyX User Benefits

RoundlyX offers numerous valuable user benefits and receives a perfect 5 rating. With a minimal amount of setup, customers can automate their dollar cost averaging. Dollar-cost averaging is a wise strategy for any long-term investment, which is especially true when dealing with volatile investment assets such as crypto. 

It is also a stress-free way to build positions versus trying to time the markets. After the initial setup, you can forget about it as your spare change is converted into cryptocurrency. You can also track your portfolio right from the RoundlyX platform. 

RoundlyX is perfect for anyone who wants to start investing in cryptocurrencies. They would first need to open an account at one of the supported exchanges, which is easy. Then they would configure their RoundlyX account. Other than that, all they need to do is make everyday purchases with their connected bank account or debit/credit card. No experience using a crypto exchange is required; RoundlyX handles everything. 

RoundlyX has also integrated with Prizeout to allow users to use their round-ups to purchase gift cards. The round-up threshold for Prizeout is $25, and you can even schedule recurring buys for your favorite brands, too, right on the RoundlyX dashboard. When making your choice, pay attention to the blue Prizeout tags below the gift cards. The blue tags indicate a bonus discount that can range up to 33%. The Prizeout integration is an excellent benefit for anyone who likes using gift cards or giving them as gifts. 

You can also earn money by referring RoundlyX to others. Using the supplied referral link, you and the link user both make $4 when they use the link and complete a round-up purchase of $45. You could pay for your yearly subscription fees with just three referrals.  As a bonus, RoundlyX also has a free 30-day trial so that you can try out its services risk-free.

RoundlyX User Experience

RoundlyX receives a user experience rating of 4.5 out of 5. Contributing to this rating is the ease of which users can open and set up their accounts. The layout and design of the platform add to a positive user experience. 

You can also add other investments and track them via the dashboard. Once added, you can view them by category, either cryptocurrency, NFTs or other miscellaneous assets. You can also view them combined as one portfolio; this feature gives you a nice visual of your investments. 

RoundlyX vs Competitors

RoundlyX is the Acorns of the crypto space. With an Acorns account, you can automatically invest your spare change from purchases that you make from your bank account, debit card or credit card. You can also set up automatic recurring investments as little as $5 into a portfolio of exchange-traded funds (ETFs).

What RoundlyX allows you to do is similar to Acorns, except you are investing in individual cryptocurrencies. With Acorns, you are investing in a diversified portfolio of ETFs with automatic rebalancing.

RoundlyX Overall

Overall, RoundlyX gets a rating of 4.5 out of 5. A lack of chat support for those who need help reduces its otherwise perfect rating. Besides that minor deduction, RoundlyX is a fantastic way to dollar cost average into a long-term crypto portfolio. Besides all of the other outstanding features, RoundlyX also has an exceptional selection supporting over 50 cryptocurrencies.

Frequently Asked Questions

Q

How much does RoundlyX cost?

A

RoundlyX costs $1 a month, which is an absolute bargain for the convenience and service it supplies. RoundlyX charges no other fees other than the usual exchange fees. 

Q

What is the production cost of one Bitcoin?

A

Bitcoin’s production cost is the sum of the costs for the infrastructure, the electricity required to mine it and an indirect cost related to the difficulty level of its algorithm. As with other commodities, the price of production can play an important role in determining the price of Bitcoin. The production cost of one Bitcoin is about $34,000 in early March 2022. With the price of Bitcoin currently trading at just under $37,000, that is only about 8% above the production cost.

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About Donald Hancock

Donald’s expertise lies in the technical analysis of both stocks and crypto.