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

Must Read

Beaxy Has been Revived After Rumors of Exit Scam

The Cryptocurrency exchange Beaxy, has been revived, there has been much controversy about the exchange doing a...

Bitcoin Miner Canaan’s IPO Gets $90M After Losing Banking Partner

Bitcoin (BTC) mining giant Canaan Creative has raised $90 million in its initial public offering (IPO) —...

Lamborghini Uses Salesforce Blockchain to Certify Cars

Italian luxury sports car brand Lamborghini is using Salesforce Blockchain to authenticate heritage Lamborghini cars. Salesforce, a major...
- Advertisement -

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

11 Years Ago Today Satoshi Nakamoto Published the Bitcoin White Paper

Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or...
- Advertisement -

ArBinance is Changing the Crypto Arbitrage Game with the Click of a Button

ArBinance is a professional arbitrage trading platform that aims to revolutionize cryptocurrency trading by allowing its users to conduct crypto arbitrage through...

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users SmartMixer.io is a new bitcoin mixing service especially geared toward...

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST Vienna-based fintech Bitpanda...

Bitpanda digitizes physical gold and silver

Vienna, 13 May 2019 – Vienna-based fintech Bitpanda launches gold and silver trading for its 1 million users. The new...