Bitwala is seeing increasing customer growth. In its first year, the Berlin-based German crypto-banking company Bitwala won more than 50,000 customers from 32 European countries. Bitwala even expects 100,000 customers by the end of 2020, as many banks are becoming more and more expensive.
Bitwala, Germany's flagship crypto-banking service, has already attracted over 50,000 customers from 32 European countries. In December and January in particular, customer growth skyrocketed, exceeding Bitwala's own forecasts more than significantly. The strong growth is due to viral spread and recommendations.
A year ago, Bitwala was the first provider to introduce a free bank account service with an attached Blockchain Wallet. Since then, the company has been trading crypto-currencies throughout Europe, and it is running so successfully because the service is much more consumer-friendly and cheaper than most crypto-exchanges. The customer base consists of people resident in Germany, Spain, Austria, Italy, Poland, Switzerland and many other countries.
Ben Jones, CEO and founder of Bitwala said in this regard:
We are very proud that our clients recommend us to their friends. We reward recommendations that lead to new registrations with 15 Euros. This is a start to test trading crypto currencies without risking much yourself. Bitwala is the fastest and most convenient way to interact with the growing digital economy worldwide.
100,000 customers expected by the end of 2020
The growth forecasts for 2020 are to reach 100,000 customers by the end of the year. In addition to the growing interest in crypto-currencies, the general increase in bank fees is likely to be one of the reasons for this.
The use of Bitwala and Mastercard Debitcard is completely free of charge. Bitwala only charges a fee of 1 percent for trading Euro with Bitcoin (BTC) and Ether (ETH). Beyond that, Bitwala customers incur no costs whatsoever.
At Bitwala there will even be interest for customers in the near future
So says the CFO at Bitwala Christoph Iwaniez:
In a few weeks Bitwala will become even more attractive as we will offer block-chain based interest rate products. In other words, Bitwala customers will be the first to have access to very attractive block-chain interest rate products. This is only the beginning of a massive disruption of the traditional banking system, which will be able to offer direct access to block-chain-based financial products in 10 years at the earliest.
Bitwala customers alone will hold a total of 1,500 Bitcoin by the end of 2019. They also use the Bitwala Mastercard Debitcard in over 120 countries.
Philipp Beer, Chief Growth Officer at Bitwala, adds:
Bitwala has become the most important bank account for Europeans for trading in the two most popular crypto currencies, Bitcoin (BTC) and Ether (ETH). This is because it is the only offering worldwide that makes access to block-chain-based assets as easy, secure and convenient as users expect from a modern mobile banking solution.
About Bitwala
Bitwala is a company in the field of cryptocurrencies with the goal of representing a bank as a bridge between the traditional and the block-chain-based financial world. Thus Bitwala offers the first complete solution that combines a regular bank account, crypto wallets and trading. Customers can buy and sell Bitcoin and Ether directly from a bank account managed by a German partner bank. Bitwala charges a fee of just one percent per transaction.
Customers in all countries of the EU benefit from the advantages of a German bank account, including the statutory deposit insurance for Euro balances up to 100,000 Euro. A free debit card is also available with the account. To protect the Bitcoin and Ether in the Bitwala Wallets, the private keys remain in the hands of the customers. These legal and technical standards make Bitwala one of the safest and fastest ways to trade and manage crypto currencies.
Bitwala was founded in 2015 by Jan Goslicki, Benjamin Jones and Jörg von Minckwitz and completed with Christoph Iwaniez and Philipp Beer. Investors include Earlybird Venture Capital, Global Brain, Sony Financial Ventures, G1, High Tech Gründerfonds, ALSTIN and the Digital Currency Group.
Here you can register your very own Bitwala account
