Bitwala is a platform that allows users to buy and sell bitcoin directly from their bank account. It was initially founded in 2015 but had to take a break to work on launching a full banking experience using a German license.
The time has finally come, Bitwala just announced they will be launching their banking application in 30 European countries. The mobile application works on iOS and Android and anyone from those 30 European countries can open an account with a German bank easily.
With Bitwala, users will be able to receive their salary on it, pay rent or send and receive SEPA transactions. Additionally, Bitwala enables users to buy and sell cryptocurrencies for a 1% fee from their account.
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. Therefore, we are the safest way to buy, sell, and store bitcoin – now even on your smartphone
Said Christoph Iwaniez, the CEO of Bitwala.
Bitwala is licensed and regulated by the BaFin and the ECB (European Central Bank).
Bitwala also provides users with a debit card that can be easily managed through the mobile app. If it’s lost or stolen, the card can be blocked directly through the application.