Cryptocurrency banking provider Bitwala will offer bank accounts with Bitcoin Wallet and Debit Card, as was announced on Wednesday, Dec 12. “New users along with the 40,000 pre-registered customers will be onboarded one after the other based on their waitlist place,” the announcement said.
Roman Kessler, a spokesperson for Bitwala, said: “For now, only German residents can go through the KYC [know-your-customer] process. Very soon, hopefully already in January, this will be extended to other jurisdictions inside of the EU. Only bitcoin [is supported] at the moment. You can access them through a multi-sig wallet to which only you have the private key. Other cryptocurrencies to follow shortly”.
He also emphasized that “The online bank account and the [debit] card are free,” but trading between BTC and EUR costs 1 percent. “According to our market research that is 5 percentage points below market average”.
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