Bitwala is a natural step towards a combination of traditional banking and crypto. The aim of the project is to synthesize these two worlds on one platform to make life in the digital economy even easier.
Bitwala offers several services known to us from traditional banking, such as a bank account in EUR and a debit card. In addition, the account holder has a BTC wallet and a bilateral BTC-EUR exchange office. Below we describe the platform itself, the registration process and how to take advantage of the welcome bonus for new users, which is EUR 30.
Description of the Bitwala platform
Bitwala has set the goal of solving one of the most pressing industry problems – filling the gap between cryptocurrencies and traditional banking. Currently, the service is only available to EU citizens, and the opinion of the community on the Internet is very favourable to the project.
The beginnings of Bitwala date back to 2014, when it dealt with transfers in BTC and sales of pre-paid cards. During the first three years of its operation, the company obtained financing for over 20 million Euros and re-processed transactions for a total of over 65 million Euros.
Subsequently, the company started cooperation with the German solarisBank corporation to provide joint blockchain and cryptobanking services. The current Bitwala is the result of a long-term commitment to the cryptic market, as well as traditional banking.
The functions of the Bitwala
At the moment, the company’s main services are:
This is a traditional bank account, with all the standard functionalities we may require from electronic banking. It can serve as an ordinary euro savings and settlement account.
A wallet for storing bitcoins (BTC), from which we can send and receive transfers and store our “Internet gold”. Additionally, Bitwala claims that no one (including them) has access to the private keys of the wallet. The private key generated when creating a wallet can easily be used to restore it on any other device.
From the client’s panel on the desktop or mobile version, the exchange office allows you to change BTC to EUR with one click or vice versa.
Easy access to the above mentioned functions on our smartphone. Additionally, through the Bitwala mobile application we can operate the Ethereum wallet.
MasterCard payment card
It is directly linked to your Bitwala bank account with a German bank. It allows you to use the funds as with a traditional payment card.
EUR 30 bonus for start from Bitwala
For new clients, Bitwala offers a welcome bonus of EUR 30, which will be granted to us within a maximum of 15 working days after account verification. After we receive the bonus, we can immediately withdraw it to another account in EUR or convert it to BTC with the help of an exchange office in the client’s panel and send it to a bitcoin wallet.
In order to receive a welcome bonus of EUR 30, you just need to register and verify your account, which in total may take several minutes. What will we need for this?
- A document with a photo – an identity card or passport,
- A document that shows the address of the residence we provided during registration (if we have an old proof with the address, we do not need a second document).
Below we describe step by step how to register:
Registration in Bitwala
Start registering for Battlefield by clicking on this link: https://app.bitwala.com
Using our partner link you support the development of the portal and thus the adoption of the crypto in Poland and worldwide. Thank you!
Name: At the beginning, the system will ask us to add basic information, such as name, surname (we enter it without Polish characters).
Email: We provide our email address.
Country: Then we will be asked to provide the country of residence and origin of our identity document.
Eligibility: The next step is to deny (or confirm) that we are a US tax resident.
Terms: It’s time to accept the approvals and terms and conditions, the last one is optional.
Password: Then we choose a password for our account.
Email: The next step is to verify the previously provided email. To do this, click on the “Confirm Email” button in the message received from Bitwala.
When you click on it, another window will open in your browser where you will continue to register.
Security: At the next stage we will be asked to try to log in to your account. You will then be informed about the e-mail verification.
Confirmation: Next time we click on “Confirm Email”, we will proceed to the next registration step.
Title: We choose a way to title our person – Woman or Man.
Date of Birth: We give the date of birth.
Birth Place: We enter the country and city of birth.
Nationality: We state our nationality.
Employment: We enter our current employment status.
Contact Information (Contact)
Phone: Please give us your phone number.
Address: We provide a residential address, which should match the address on the document we intend to add as address confirmation. Enter the country, city, address of the property and its number, as well as the postal code.
Address Verification: We will be asked if the address of residence appears on our identity card. If we have an old ID with an address, we can click “YES”, if we have a new ID, we should choose one of the possible bills, e.g. for water, electricity or gas, on which our address appears. Another option is a bank statement.
Please note that if you have another ID with your address, e.g. a driver’s license, you can also select the “YES” option. Then during the verification interview (last step), we will be asked to show this document.
Tax information (Legal)
Tax: We will be asked about our tax residence and the tax identification number used in some countries also for individuals. As we do not have such a personal number in Poland, we mark “I don’t have a tax number”. (I don’t have a tax number) and then in the window that will show us the option “I don’t have one” (I don’t have one.) Now we choose the reason why we don’t have a tax number: “My country does not assign tax numbers.” (My country does not assign tax numbers).
Privacy: We accept approvals.
Verification of Bitwala account
Account verification is the last stage of registration. It takes the most time because it is carried out by an external company IDnow, which verifies users during a short video call via smartphone or webcam. The verification itself is short, but sometimes the time to connect with a consultant may be longer. We have received reports from some readers that they have been waiting more than 30 minutes for a call. Don’t forget to just turn on the speaker to hear the consultant when he shows up on the line!
Before calling, we should prepare an ID card and if there is no address on it, an additional document to confirm it. Consultants speak English or German, but they are patient and will demonstrate what we should do if necessary (and the necessary steps to verify are really trivial).
Our task will be to show your face. Then the proof (and possibly a second document confirming the address) and waving it in front of the camera as the consultant will demonstrate.
At the end, we will be sent a text message code, to the number we gave during registration, which should be entered in the appropriate place at the end of the conversation.
Ready! Your registration and verification is over. Within 15 working days you will receive 30 euros to your account.