Bitwala - Blockchain Banking

[bitwala]

Bitwala, thanks for implementing the multi wallets feature, I noticed it this week only, it was something I always wanted to have. It's good to see continuous improvements from Bitwala.io. Who knows maybe a day we will have our dedicated IBAN  ...
What about adding a feature that auto sell/transfer our bitcoins to our bank account: For exemple, my wallet receive bitcoin and it gets sold and transfered to my bank account (after setting a minimum amount) at the current rate the day of the transaction. (considering we set for example a 250$ minimum to trigger the SEPA transfer out, once I sold for 250$ Bitwala makes the transfer)

Hi LeGaulois,

Thank you for your feedback . We love hearing that our improvements are noticed and appreciated by our users. I like your idea with an automated payout function.

My train of thought in regards to your idea:
It would only work if Bitwala had access to users private keys and this is something that brings a lot of potential "issues" with it. At the moment Bitwala can't access anybody's funds and this is the highest level of security that can be offered. It means we as a company can't be pressured by any individual, group or governmental institution to access anybody's funds. Furthermore, no hacker could ever access any of our user's wallets by attacking our site or servers.

I guess it is a question of how small the minimum amount to trigger a payout would be and if users were willing to accept the "issues" that could occur. How would you decide?

Best regards,

Robert @Bitwala

[CharlieCox]

Hey Team,

Since you are discontinuing the current card for us folks outside the EU, is there a planned replacement card for non-EU residents?

[LeGaulois]

Bitwala, thanks for implementing the multi wallets feature, I noticed it this week only, it was something I always wanted to have. It's good to see continuous improvements from Bitwala.io. Who knows maybe a day we will have our dedicated IBAN   ...
What about adding a feature that auto sell/transfer our bitcoins to our bank account: For exemple, my wallet receive bitcoin and it gets sold and transfered to my bank account (after setting a minimum amount) at the current rate the day of the transaction. (considering we set for example a 250$ minimum to trigger the SEPA transfer out, once I sold for 250$ Bitwala makes the transfer)

Hi LeGaulois,

Thank you for your feedback . We love hearing that our improvements are noticed and appreciated by our users. I like your idea with an automated payout function.

My train of thought in regards to your idea:
It would only work if Bitwala had access to users private keys and this is something that brings a lot of potential "issues" with it. At the moment Bitwala can't access anybody's funds and this is the highest level of security that can be offered. It means we as a company can't be pressured by any individual, group or governmental institution to access anybody's funds. Furthermore, no hacker could ever access any of our user's wallets by attacking our site or servers.

I guess it is a question of how small the minimum amount to trigger a payout would be and if users were willing to accept the "issues" that could occur. How would you decide?

Best regards,

Robert @Bitwala

Hi Robert,

I forgot to consider the part with the keys. As Bitwala has no access to users keys, it is one of the good points to use Bitwala.io.
But what about if the users need to create a separate wallet to enable this feature, or create another wallet with this feature sets by default? It can be something great for individuals but it can be also useful for businesses, for example, those who are worried about the volatility in crypto.
For me, I would create a second wallet where each coin received is sold at the rate of the day, and set the wallet to send me a SEPA once it reaches 100 euros at least (minus fees)

[bitwala]

Hi Robert,

I forgot to consider the part with the keys. As Bitwala has no access to users keys, it is one of the good points to use Bitwala.io.
But what about if the users need to create a separate wallet to enable this feature, or create another wallet with this feature sets by default? It can be something great for individuals but it can be also useful for businesses, for example, those who are worried about the volatility in crypto.
For me, I would create a second wallet where each coin received is sold at the rate of the day, and set the wallet to send me a SEPA once it reaches 100 euros at least (minus fees)

Hi LeGaulois,

We discussed your idea today in our group meeting and the tech team will look into our options. Maybe we will offer this service in the future. I will post it here if and when it goes live.

Thank you again for your feedback and idea!

Best regards,

Robert @Bitwala 

[bitwala]

We are excited to be heading to BlockchainUA in Kiev this Friday! Come hear our CTO, Ben present the latest insights from Bitwala.

[CharlieCox]

Since you are discontinuing the current card for us folks outside the EU, is there a planned replacement card for non-EU residents?

Need to quote myself.

[2weiX]

Since you are discontinuing the current card for us folks outside the EU, is there a planned replacement card for non-EU residents?

Need to quote myself.

everyone in the sphere is scambling to get a provider for non-EU members, I think they'll all sign on pretty much at the same moment.

[bitwala]

Since you are discontinuing the current card for us folks outside the EU, is there a planned replacement card for non-EU residents?

Need to quote myself.

Hi CharlieCox,

Sorry for the delayed answer to your question. We are looking into finding new ways to offer our cards to customers in the EEA and selected adjacent states https://help.bitwala.com/card/which-countries-can-the-bitwala-prepaid-card-be-sent-to. We will inform you here and on all other social media channels as soon as we have a solution in place.

Sorry for any inconveniences that have occurred because of this unwanted change.

Best regards,

Robert @Bitwala

[bitwala]

Our CEO Jörg and CTO Ben will be attending this year's Bits and Pretzels,
a 3-day founders festival that connects 5.000 startup enthusiasts, on September 24-26.
You will find them at stand: ST035

[erbobby]

Hey Erbobby,

Thanks for your message and your patience while we address this issue. We are working hard on bringing a convenient solution very soon and will publish an update on that shortly.

Kind regards,
Bitwala Team

Hi, is there any ETA for this. BCH has been around for a while, and you guys are the only wallet that I'm using that hasn't provided me an option to withdraw the BCH from the wallet. My understanding is that this is a Bitgo wallet, and Bitgo already provided a solution.  Can you please let me know when do you expect to have a solution?. Thanks

[bitwala]

Hi, is there any ETA for this. BCH has been around for a while, and you guys are the only wallet that I'm using that hasn't provided me an option to withdraw the BCH from the wallet. My understanding is that this is a Bitgo wallet, and Bitgo already provided a solution.  Can you please let me know when do you expect to have a solution?. Thanks

Hi Erbobby,

Our team is working on it as we speak and it is a high priority but sadly I can't give you an ETA at the moment.

Best regards,

Robert @Bitwala

[ledio]

I use private and business Bitwala account and everything goes like it should go.I am very satisfied.But....
This will maybe sound stupid but it is a really big problem.My company main occupation is MINING and has hard pressure from banks in Germany, they close my company bank account after 2 or 3 payments from Bitwala and Bitpanda, saying there is a risk for them from possible money laundering. My question is do you have plans to offer regular IBAN numbers in near future so we can skip banks once for all? Or provide some document what can be used to clear this misunderstanding with banks when we pay out money.

[bitwala]

I use private and business Bitwala account and everything goes like it should go.I am very satisfied.But....
This will maybe sound stupid but it is a really big problem.My company main occupation is MINING and has hard pressure from banks in Germany, they close my company bank account after 2 or 3 payments from Bitwala and Bitpanda, saying there is a risk for them from possible money laundering. My question is do you have plans to offer regular IBAN numbers in near future so we can skip banks once for all? Or provide some document what can be used to clear this misunderstanding with banks when we pay out money.

Hello Ledio,

I will send you a PM because I would like to get more info about your bank provider. We have never had this issue because our partner bank is from inside the EU.

We are working hard on providing our own IBAN bank accounts for customers.

Please check out our vision page https://vision.bitwala.com/ and roadmap page https://vision.bitwala.com/roadmap/.

Best regards,

Robert @Bitwala

[poordeveloper]

When do you plan on having IBANs ready? Will they be named?

[Samarkand]

...

Please check out our vision page https://vision.bitwala.com/ and roadmap page https://vision.bitwala.com/roadmap/.

...

Interesting link!

Can you elaborate on FIAT pegged tokens? Are you planning something similar to Tether? Thank you for your help.

[poordeveloper]

If so, they are in for a multimillion business.

[networkcoin]

Yes, it certainly could be!

Join the Telegram group here: https://t.me/BitwalaTGE

[bitwala]

When do you plan on having IBANs ready? Will they be named?

Hi poordeveloper,

Yes, the IBANs will be named and we are working hard to bring them live in the beginning of 2018. The release date depends on how fast our legal team can get everything in order but we have made some big steps in the last months.

Best regards,

Robert @Bitwala

[bitwala]

If so, they are in for a multimillion business.

Hi poordeveloper,

Thank you for your assessment

Best regards,

Robert @Bitwala

[onnz423]

I have noticed that recently there have been alot more problems with the card loads than before. Your service used to have no problems but as time goes by there are more. I already sent a ticket in about this subject. I hope you can add some kind of live chat for this type of problems or at least an option for an refund if the invoice is paid and the transfer is confirmed.