During Build Week 2023 we created some new ways to buy shares. Shareholders and new users can now buy immediately, skipping the deposit step, and we’ve also added automatic monthly purchases with Dollar Cost Averaging.
Here are the details and links for all the options:
Depositing money into your account is done in the “Deposit” tab of KmikeyM. The button for “Deposit Funds” will let you choose any amount for deposit.
Note: If the email address you use on Gumroad matches the email address on your KmikeyM account the funds will be automatically added to your account (minus the processing fees).
If the email addresses used on Gumroad isn’t in the KmikeyM system a new account will be created and the funds will be deposited. You can always reach out to firstname.lastname@example.org if there is any issue.
Once funds are in your account you can accept offers from the “Trade” page.
If you are depositing funds just to immediately buy shares you can just choose the “Buy Shares” option on the Deposit page. This works just like a deposit but will automatically purchase shares at the best possible offer. Any remaining amount will be deposited in your account.
Dollar Cost Averaging
One of the issues with a lower volume market is that accepting a lot of offers will move the price. For example as I write this you can buy 100 shares for $7.71 share, which is just a little higher than the best offer of $7.69. But if you want to buy 1000 shares the price jumps up to $11.46 per share!
With Dollar Cost Averaging you set up a recurring purchase which allows you to lower the per share price by buying a set dollar amount each month. So if you choose to spend $50 a month you’ll always get the best offers with less impact on the price per share.
This is the most cost effective way of increasing your stake in KmikeyM!
New User Buy Now
Once we had the Buy Now feature we realized we could onboard people at the point of purchase. The New User Buy Now page let’s someone buy shares even without an account! Once they make a purchase an account will be created for them and the shares purchased. Then they get a welcome email and can log in to cast their votes!
This is a great way to invite new people to become shareholders, and the URL is easy to remember:
Withdrawals + Manual Deposits
Withdrawals are still a manual process. Email email@example.com and I can send you whatever funds you have in your account.
Currently all these deposit and payment methods operate using Gumroad, which means we’re dealing with high fees (and the sometimes strange behavior of the founder). If you’re looking to make a major deposit you can contact me directly at firstname.lastname@example.org and we’ll manage it manually.