[2018-12-12] Bitwala Begins Offering Bank Accounts With Bitcoin Wallet and Debit

[tyz]

Cryptocurrency banking provider Bitwala has started offering its banking service to cryptocurrency users in Germany, starting with 40,000 pre-registered customers. A spokesperson for the company has shared details with news.Bitcoin.com about this new service which will soon add support for additional countries and cryptocurrencies.
https://news.bitcoin.com/bitwala-bank-bitcoin-wallet-debit-card/

[Harlot]

Loving this move by the cryptocurrency bank and this is just one of the first good news I have seen in days. This just shows that the era of the cryptocurrency industry is just getting started with 40,000 pre-registered accounts on their service you know that there is still demand on going even on the consumer market for cryptocurrency which it is really meant for, with this kind of link between bank and cryptocurrencies having a crypto-centered business is possible now in Germany, this will also attract a lot of business entities to accept crypto in their business.

[Kakmakr]

" 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. " - It is a good start. 

I always said, if one Bank are willing to gamble on losing their Banking license by being the only Bank that are going against other Banks, then this Bank will surely garner a lot of support from the Crypto currency community.

We are seeing a lot of Banks that are closing people's accounts, when they find links to Crypto currency business and these Banks does not deserve our communities support or our money. 

[buwaytress]

Hoping that soon becomes sooner. Not a huge fan of kyc but I'm not uncomfortable doing it for a nifty bank account that's safe to use for regular trading and Bitwala's the lesser of all them Bitcoin corporate evils. My Bitpanda's just about hit its limit for unverified accounts (doesn't verify outside of EEA anymore after GDPR) and there's only so much I can do with p2p. Hoping they bring back their debit cards too, don't mind them small limits, just another option of spending without going through 2/3 hoops losing fees each time for my coins.

[stompix]

Title:
Bitwala Begins Offering Bank Accounts

Content:
The bank accounts are hosted by Berlin-based Solarisbank.

Conclusion:
Facepalm!

Bitwala GmbH offers the brokerage of transactions on the purchase and sale of financial instruments in accordance with §1 Section 1a Sentence 2 No. 1 of the Banking Act exclusively in the name and for the account of the solarisBank AG. Bitwala GmbH is recorded as tied agent of solarisBank AG within the meaning of § 2 Section 10 of the German Banking Act in the register which is kept by the German Federal Financial Supervisory Authority. The register can be accessed under  www.bafin.de.

And, why are we cheering that we can store our coins in a bank? Am I missing something here?