By Aleks Svetski, posted on March 27, 2019

How to Use Amber

Ready to join the rocket ship? Good work, you’re on your way to becoming a zilllllionare :P. But seriously, we know investing in digital currencies for the first time can be nerve-racking, and we’re here to help at every stage of your journey.

Here’s our complete step-by-step guide to using Amber, Australia’s newest digital currency exchange, wallet and micro-investment app.

Set Up Your Account

Setting up your account is easy, just download Amber from the App Store or Google Play, register your email address and phone number and securely link your bank account with Fabric. Once you’ve verified your account, you can start buying, selling, swapping and storing Bitcoin from the palm of your hand.

We told you we were making it simple!

Link Your Account

We use Fabric to link user bank accounts because it’s the most secure way for you to share your banking data with us. Unlike other apps, we don’t see or store any of your banking credentials in order to deliver our service. To link your account, just log in to Amber, enter your mobile number and private code, select your bank and log in to your account to link it with Fabric. Then select your funding and round up accounts and you’re good to go!

Security

Setting up your account may be simple, but our security is not. Our partners at Fabric protect all account credentials with the latest in bank-grade encryption, whilst Amber stores 100% of your Bitcoin in cold storage. This means both your credentials and Bitcoin are safe. Our goal is to provide better-than-bank security for you and your crypto.

Round Ups

By connecting your bank account with Amber, we hook up with your everyday transactions, round up the spare change to the nearest dollar and automatically invest it into Bitcoin for you. Think of it like a digital piggy bank – on auto pilot. Just select your accounts (they should be the ones you use most frequently for your daily transactions), and set them as your round up accounts.

What’s The Deal With Round Ups?

Knowing when to invest in cryptocurrencies is really hard (even the pros can end up getting their timing wrong!), and this is where dollar-cost averaging comes in. Dollar-cost averaging means choosing to invest a certain amount on a particular investment regularly over time, regardless of the asset price. Round ups just makes that even easier by focusing on the “spare change”.

Why We Do It

The idea behind Amber’s round up feature is to help you spread your investments out over intervals to achieve the best average price over a period of time. This tried-and-tested investment technique forms the foundation of the Amber app, by putting your spare change to work.

The cool thing about Amber, is that it makes dollar-cost averaging something you can do on auto-pilot, automatically swapping the spare change from your daily transactions to crypto. Rather than trying to catch the market at a specific high or low point, and getting it wrong, dollar cost averaging is the smartest and safest way for beginners and seasoned investors alike to invest.

Withdrawal

You can withdraw your Bitcoin and convert it into fiat currency at any point once you reach the $25 threshold. Just contact us and request a withdrawal by clicking the withdrawal button in your settings.

Ready to get started? Download the Amber app here and sign up to our community to be the first to hear news, tips, updates and more from our team.

Got more questions? Awesome, we’d love to chat! Email us here and we’ll get back to you as soon as we can.