Bitwala, the first all-in-one-platform for Bitcoin and Euro
Crypto

Bitwala, the first all-in-one-platform for Bitcoin and Euro

By Valeriya Georgieva - 9 Oct 2019

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Bitwala is building a bank to bridge the world of traditional and decentralised finance. The Berlin-based company is the first to offer an all-in-one-platform, combining a bank account with an integrated Bitcoin wallet, a debit card and seamless Bitcoin trading options. With the new Bitwala app-mobile users in all 31 European countries can start trading on their smartphone directly from their bank account within minutes.

The Bitwala bank account is hosted by solarisBank, the Berlin-based tech platform with a German banking license, and is supervised by the Federal Financial Supervisory Authority (BaFin). All users can access the benefits of a German bank account and feel relaxed that all Euro deposits up to 100.000€ are protected by the German deposit guarantee scheme. The Bitwala account is free and offers all functionalities of a regular bank account. So users can easily receive his/ her salary, make SEPA transfers or set recurring payments to pay bills or monthly subscriptions.

Bitwala platform

Integrated into the Bitwala account there is a Bitcoin wallet that enables easy and secure trading of bitcoin with fast liquidity, starting from a minimum trade of 30 euros. Due to the unique integration in one platform the transactions between the bank account and the wallet are extremely fast, so the exchanges from fiat to bitcoin and vice-versa are executed immediately and the funds are usable within less than an hour. The Bitwala trading fee is transparent and fixed at 1% per bitcoin trade. Furthermore, only real bitcoin registered on the blockchain are traded, no financial derivatives like CFDs. From the other side, the multi-signature wallet meets the highest security standards while only the owner of the Bitwala account has access to the respective private keys.

Bitwala is also providing its clients with a Mastercard debit card for contactless payments and free withdrawals at over 40 Million POs & ATMs worldwide. If the user wants to spend his/her Bitcoin, s/he can easily do it with Bitwala. Trading Bitcoin to Euro and vice-versa is possible within 1 hour, so afterwards the funds can be easily spent by simply using the card.

The user-friendly Mobile App enables all Bitwala users to manage their Bitcoin in a safe, easy and super fast way. Via the app new users can to go through the verification process within just several minutes while perhaps drinking a cup of coffee. What makes it possible is the completely integrated video-legitimation process and system, upon which successful completion, the user is immediately directed to his/her new Bitwala bank account. With the new app users have full control over their finances – whether Euro or Bitcoin – at all times. The optional notification function informs account holders in real time about every financial movement in the account such transactions with the card, inbound transfers or bitcoin transactions. What is more, with only one swipe, the user can activate, lock and also reorder a new debit card.

Advanced security technologies like Face ID and Touch ID are implemented in order to facilitate fast and easy identification via biometrics, when performing “log-in” and during the authorisation of bitcoin transactions. The Bitwala wallet features innovative peer-to-peer functionalities such as transferring bitcoin between friends and family by simply using the QR codes scan feature.

The unique setup makes Bitwala a great option for experienced traders that value a safe and easy on- and off-ramp, as well as for Bitcoin beginners that want to make their first trades, but are overwhelmed by the complexity of some crypto exchanges.

Open your free bank account and start banking and trading with Bitwala today. The application is available for all iOS and Android users in all 31 European countries.

Valeriya Georgieva
Valeriya Georgieva

Crypto Finance Officer & PR @ 0301 Farm

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