Lava, a leading bitcoin fintech company Peter Thiel’s Founders Fund, Khosla Ventures announced today an angel investment by Alex Crognale, the first professional soccer player in the United States League (USL) to receive a portion of his salary in bitcoin. This investment coincides with Lava’s launch of its innovative “Get Paid in Bitcoin” This allows you to instantly convert your paycheck into bitcoin. “zero fees”According to a Bitcoin Magazine press release,.
Crognale is a San Antonio FC defender who gained fame in 2021 after he chose to pay a portion of his salary with bitcoin. The asset grew by 136% since October 20, 2021, when the defender publicly announced the first bitcoin payment.
Although the amount of Crognale’s investment was not revealed, his faith in Lava, which has the mission to make Bitcoin accessible for daily financial management, is evident. “As an athlete, I’ve always approached my career with discipline and a focus on the long game—that’s why I became the first USL player to get paid in bitcoin,” Crognale added in a press release that “with Lava, I see a company that’s also building for the long term and creating products that Bitcoiners need, to maximize and protect their savings—today and into the future. I’m excited to be both an investor and a user!”
Lava’s “Get Paid in Bitcoin” Feature allows direct deposit of paychecks in the Lava App, which is available on iOS and Android. and convert them automatically into bitcoins without fees. This feature is compatible with dollar-cost averaging (DCA)It is a popular strategy among bitcoin investors because it allows them to reduce volatility by making regular purchases, regardless of price. Lava allows its users to use their bitcoins to make purchases, while still retaining the upside potential of their investments.
Shehzan Maedia, the CEO of Lava cited Crognale’s example and expressed his hope that more people would consider investing a part of their pay directly in bitcoin. “I believe we’re moving towards a world where people save in bitcoin and spend in dollars. This is one of many tools we’re building to make that possible,” He added.
Lava is now positioned as the leader for bridging bitcoin and traditional finance. This feature caters to an increasing number of people who want to include cryptocurrency in their financial strategy. They have a platform that is focused on self-custody. Their services are integrated deeply into the Bitcoin network and they support USDC as well. “decentralized finance” Most measures are designed to keep a company in business. By eliminating conversion fees from bitcoin purchases, Lava removes a significant barrier to entry, making it easier for users to stack sats—a popular term in the bitcoin community for accumulating small but significant amounts of the cryptocurrency over time.
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Source: bitcoinmagazine.com
