The Berlin-based company Bitwala brings together Bitcoin and Banking. For the first time, users can open a German Bank account with a built-in Bitcoin Wallet, and in a few minutes, in a communication dated 29. August 2019.
Contents
Blockchain Banking for iOS and Android
It’s never been easier to buy Bitcoin, you will be sure to sell and manage his checking account, the company promises on its Website. Supported by the Solaris Bank, offers Bitwala the only one in the European economic area active banking service, including regular Bank account, Bitcoin Wallet and Trading.
Account opening via Video-legitimization in the App
Also, the opening of an account should be easy and little time. Bitwala has worked “for months and months hard at it”, in order to offer its users the best possible App experience. The time required could be reduced to account opening for new customers on minutes, wherein the process is conducted entirely through Video-legitimization in the App. For identity verification, a valid identity card or passport is required.
After that, users will benefit from “all the advantages of a German Bank account, including the statutory Deposit guarantee for Euro deposits up to 100,000 euros.”
Bitcoin directly from your Bank account to buy and sell
With the new product, the company could simplify the most complicated purchase and sale of Bitcoin significantly. Who wants to buy Bitcoin, this can have to the Banking App, without the need for a Trading service to take. The integrated Wallet allows customers to buy Bitcoin directly from your Bank of the Congo and to sell. In this case, the balance should be, whether in Euro or BTC in less than an hour available in the account.
“We reserve the Bitcoin directly to the Blockchain by a Multi-signature Wallet: Only the user itself can access it, and is the sole owner of the private key. This has the great advantage that nobody can get to your Bitcoin. Also a Hack in Bitwala would run into the Void. Therefore, we sell the safest way to buy Bitcoin, and manage – and now even on your mobile phone,” says Christoph Iwaniez, Chief Financial Officer of Bitwala.
Spending of funds is facilitated by a Mastercard debit card. This will get users to each opening of the account and can withdraw at over 40 million outlets worldwide for free money and contactless payments.