Germany’s Bitwala Launches All-In-One Mobile Bitcoin Bank App

Must Read

Eight Things in Crypto You Can’t Afford to Miss This Week

In this roundup, we cover China's market-rattling resistance to Bitcoin, the increasing drumbeat toward crypto regulation, the...

Why the Cloud Industry Needs to Become Greener

According to Energy Post, the Internet will consume 20% of the projected electricity demand...

Your Wallet May Not Be as Secure as You Think; Here’s What To Do

Remember the egregious breach that exposed Ledger’s entire trove of customer data to the public?...
- Advertisement -
Earn Free Bitcoin

On Aug. 29, German blockchain-based banking startup Bitwala announced the launch of its smartphone app for Bitcoin banking on iOS and Android. Customers in over 30 European countries can now open a German bank account with integrated Bitcoin wallet and trading. 

Open an account directly from within the app in minutes

The onboarding process for new customers has been directly integrated into the app. It uses a video identification feature, with which residents throughout the European Economic Area can verify and open an account within minutes. Bitwala CTO Benjamin James explains:

“Once you have an account, you can seamlessly integrate your daily banking activities — whether in Bitcoin or Euro — into your everyday life.”

The account comes with a free debit Mastercard, and euro deposits up to €100,000 ($110,100) are covered by the German deposit guarantee scheme.

Integrated Bitcoin wallet and trading

The integrated Bitcoin wallet works just like conventional online banking. In this respect, it is different from an account at a cryptocurrency exchange as it can be used to manage daily finances.

Users can buy and sell Bitcoin directly from their bank account. The wallet has P2P functionality to transfer Bitcoin to friends and family, and transactions can be authorized using biometrics. Private keys are held by the customer at all times. 

Bitwala CFO, Christoph Iwaniez, spoke about account security:

“With Bitwala your bitcoin are booked directly on the Blockchain via a multi-signature wallet. This is another way of saying that hacking Bitwala is as useless as breaking the Blockchain itself and that our customers are fully in control of their Bitcoin wallets at all times.”

- Advertisement -
- Advertisement -

Latest News

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...
- Advertisement -Earn Free Bitcoin

Earn Passive Income with Nhash Cloud Mining Services

Cloud mining services are an easy way to earn passive income online. Although...

Afri-X and DigiShares Bring Tokenization to Africa

DigiShares is proud to announce its partnership withAfri-x.com to deliver the power of tokenization to Africa. DigiShares has licensed its tokenization platform to...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to announce that it has been...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...