Bitwala’s Deal and Rates for BTC Accounts

Judy Rubio

The neobank is ready and willing to offer an interesting deal. From now on, all users can try what Bitwala, the famous neobank from Germany, can suggest. The bank’s representatives claim that most customers might get interested in the rates of almost 4,3 percent for BTC accounts.

Currently, the bank has around eighty thousand users and all of them can always purchase currencies. They can begin earning and profiting as well as storing interest using their Bitwala accounts. This has become possible due to new partnerships and collaborations with the prominent cryptocurrency platform.

There’re several fiat institutions prepared to offer various products, but Bitwala is pioneering – the team is the first one that offers interest for storing BTC. Bear in mind that there are another three decentralized finance applications that can offer you alternative products. Although the mentioned projects boast higher rates, Bitwala seems to be more balanced. It follows some certain regulations and offers fiat as well as crypto services in thirty-two countries across Europe. The team obtained licensing from SolarisBank, one of the most trustworthy German banks.

Customers may buy no more than thirty Euro worth of BTC and store this amount in the BTC Interest Account, which is free. The bank guarantees stable interest payouts on a weekly basis. The system applies and utilizes the platform to lend out the crypto. The partnership is fully trusted and it permits the users to convert their funds in case they need Euros instantly. This deal, according to analysts, may draw many people’s attention.

Bitcoin as a Tool of Earning Interest

Bitwala’s representatives refer to the latest BTC event – halving – and remind users that fiat money will not be eternally inflated. They admit that the number of people who trust in BTC is increasing. Bitwala can serve as a link to the crypto. Also, the bank collaborates with serious loan providers like Celsius Network, which enables users leverage BTC holdings from any location.

New members have to verify their identity first before they start practicing mobile investing, trading, and banking. The neobank introduces a new alternative for those who are constantly on the move. There is the bank’s debit card you can use for performing contactless payments. Cash withdrawals are free, which is another benefit of the project.

Obtaining Licensing Is a Challenge

Neobanks struggle and most admit that it’s quite a challenging mission for them to obtain licensing. Since 2016, startups have been trying to link the fiat and crypto worlds. Unfortunately, not all have succeeded in obtaining complete banking approval. More than that, none of them can offer BTC investment accounts.

Two years ago, Revolut managed to obtain full approval in the EU. The brand, though, hasn’t yet received approval from the Australian authorities.

Bitwala’s priority is to help users trade directly from their bank accounts. If a customer has the brand’s application, he can invest in crypto, buy BTC or ETH. What attracts users is that the bank charges just one percent in trading fees.

This kind of banking meets everyone’s expectations and daily requirements. As a potential user, you can start with opening a free account and use it for everyday payments and savings. The system is convenient and allows users to receive or send ETH and BTC with no hassle.

People who have already gained some experience working with BTC can make their crypto work for them. The company’s interest accounts let everyone earn from their BTC. Users can simply watch their profits grow. If need be, they can cash the funds out. Payments are direct and they’re performed every Monday.