The auto-forwarding feature will take all new deposits into an account and send a percentage those into another bitcoin/litecoin address of your choice. The destination address can be inside Coinkite or an external external Bitcoin or Litecoin service.
We’ve introduced this feature to protect retail establishments from volatile bitcoin exchange rates. Since they typically pay their hard costs in fiat, they need their revenue converted instantly in to fiat. That’s easy now by sending these amounts directly to an exchange.
This can be used for:
- Sending part of deposits into cold storage
- Send to an external exchange (such as Coinbase, Bitstamp, Vault of Satoshi, etc..), which would auto-convert the deposit into your favourite fiat currency and send that to your fiat bank
- Automate separation of taxes
- Split income between different Coinkite sub-accounts as it comes in.
- Revenue Share/Split
- Split mined coins to different wallets
- Set aside savings from every deposit
- Send money to charity
- Get creative!
Found a creative use for this feature? Tell us about it!
Get your account!