The €uro investigation has shown Thanks to Bitwala, consumers can now easily trade Bitcoin (BTC) and Ether (ETH) without any specialized knowledge. The security mechanisms were successfully tested and awarded.
More than 50,000 customers in 32 European countries already use Bitwala from Berlin to exchange digital assets online and on the move. Now Bitwala has received the €uro Award: The Berliners finished with a "very good" overall. €uro commissioned DLC Distributed Ledger Consulting GmbH for the independent test.
Bitwala is the only company in Europe to combine the security of a German bank account with blockchain technology. This, and the ease of use of Bitwala's offering, means that even average consumers can securely buy and sell crypto currencies such as Bitcoin (BTC) and Ether (ETH). In this way, access to crypto systems also opens up for a less technically experienced clientele in order to diversify their own investment portfolio.
User-friendliness and precautions: Check!
Except for the 1 percent dated trading fees for crypto currencies, the Bitwala account remains free of charge. That applies also to the travel-friendly Mastercard Debit, with which one can take off and pay world-wide money. Bitwala offers the online and mobile bank account in cooperation with the Berlin-based solarisBank, which has a German full banking licence.
Bitwala's usability and general comprehensibility were especially tested and found to be very good. The audit also focused on security mechanisms, for example in the case of legal measures against money laundering and terrorist financing. All measures took effect as planned.
Bitwala is taken seriously as a challenger
Dieter-Thilo Fischer, managing director of the Finance publishing company congratulates:
The test of the German company Bitwala shows that the customer offer is user-friendly and that the tested security mechanisms have worked. As the testers determined, the protection level of Bitwala is comparable with that of a bank regulated in Germany, which customers from 32 European countries feel up-to-date as attractive. Also worth mentioning: The account functions with the Berliners are further free of charge.
Bitwala is also pleased about the very good results in the test:
Bitwala wants to enable people to access the "Internet of Value" safely and easily. After many years of work on our blockchain solutions, this award from €uro is a major milestone on the way to digitizing the European financial market,
says Christoph Iwaniez, Bitwalas CFO.
Dr. Sven Hildebrandt, Managing Director of DLC, comments:
Due to the target group we have been aiming at, we have focused on usability and general comprehensibility. In addition, we also examined some security mechanisms, which all worked as planned.
About Bitwala
Bitwala is the German showcase company in the field of crypto-currencies with the goal of building a bank as a bridge between the traditional and the block-chain-based financial world. Bitwala, based in Berlin, offers the first complete solution that seamlessly combines a regular bank account, crypto wallets and trading. Customers can buy and sell Bitcoin and Ether with fast liquidity directly from a bank account managed by a German partner bank. Bitwala charges a competitive fee of only one percent per transaction.
Customers in all 32 countries of the European Economic Area benefit from the advantages of a German bank account, including the statutory deposit protection for Euro balances up to 100,000 Euro. The account is also accompanied by a free debit card, which can be used for contactless payment and free withdrawals at 40 million locations worldwide. To protect the Bitcoin and Ether in the Bitwala Wallets, the private keys remain in the hands of the customers. These high legal and technical standards make Bitwala one of the most secure and fastest ways to trade and manage crypto currencies.
Bitwala was founded in 2015 by Jan Goslicki, Benjamin Jones and Jörg von Minckwitz. The management team around Jan Goslicki and Benjamin Jones has since been completed by Christoph Iwaniez and Philipp Beer. The entire team currently consists of more than 50 employees. Investors include Earlybird Venture Capital, coparion, Global Brain and Sony Financial Ventures, G1, High Tech Gründerfonds, ALSTIN and the Digital Currency Group.
Here you can register your very own Bitwala account
