Bitwala - Blockchain Banking

[LeGaulois]

A turning point in Bitwala’s history - https://www.bitwala.com/a-turning-point-in-bitwalas-history/

It's a good thing for the future to be honest. Bitwala will be stronger and more independent with a white-label banking. The only problem is that it's just happened suddenly without warning. The team will make Bitwala better than before for sure, keep it up guys.

Q: Bitwala was working with Fidor Bank?

[bitwala]

It's a good thing for the future to be honest. Bitwala will be stronger and more independent with a white-label banking. The only problem is that it's just happened suddenly without warning. The team will make Bitwala better than before for sure, keep it up guys.

Q: Bitwala was working with Fidor Bank?

Hi LeGaulois,

Thank you for your kind and motivating words.

We didn't work with the Fidor bank and we will not disclose this info.

Best regards,

Robert @Bitwala

[thinknow11]

Just getting to know about this fantastic project now and I think this project as something special as compare to others with similar functions.

When is the ICO stating?

Is there any bounty campaign?

What's your soft and hard cap?

Thanks

[bitwala]

Just getting to know about this fantastic project now and I think this project as something special as compare to others with similar functions.

When is the ICO stating?

Is there any bounty campaign?

What's your soft and hard cap?

Thanks

Hi thinknow11,

Thank you for your kind words.

The ICO is planned for late Q2/ early Q3 2018. I can't answer your other questions at the moment, sorry. You can sign up to our ICO mailing list on: https://vision.bitwala.com/.

Best regards,

Robert @Bitwala

[Apekool]

It has actually become a more interesting project now that both the card company and bank have let you down.

Might be just a precaution from the bank/VISA side, a mere reaction to the absence of regulation, whilst already with one foot into the project because they smell it's potential as well. Everyone wants to ride the crypto currency wave as soon as they hear of it's potential (actually the blockchain's potential but np almost nobody knows), only a bank won't go all the way without regulation.

Question is how will you manage to get a "full banking license" in Germany?

Why Germany? Have you read their BaFin's requirements?

https://www.bundesbank.de/Redaktion/EN/Downloads/Tasks/Banking_supervision/PDF/minimum_requirements_for_risk_management_mindestanforderungen_an_das_risikomanagement_marisk.pdf?__blob=publicationFile

...

https://www.bafin.de/EN/Aufsicht/FinTech/VirtualCurrency/virtual_currency_artikel_en.html


...
 

Well, at least one thing's for sure. If you pass the audit for that all doubt is going to fade away GL

[bitwala]

It has actually become a more interesting project now that both the card company and bank have let you down.

Might be just a precaution from the bank/VISA side, a mere reaction to the absence of regulation, whilst already with one foot into the project because they smell it's potential as well. Everyone wants to ride the crypto currency wave as soon as they hear of it's potential (actually the blockchain's potential but np almost nobody knows), only a bank won't go all the way without regulation.

Question is how will you manage to get a "full banking license" in Germany?

Why Germany? Have you read their BaFin's requirements?

https://www.bundesbank.de/Redaktion/EN/Downloads/Tasks/Banking_supervision/PDF/minimum_requirements_for_risk_management_mindestanforderungen_an_das_risikomanagement_marisk.pdf?__blob=publicationFile

...

https://www.bafin.de/EN/Aufsicht/FinTech/VirtualCurrency/virtual_currency_artikel_en.html


...
 

Well, at least one thing's for sure. If you pass the audit for that all doubt is going to fade away GL

Hi Apekool,
The decisions to work with the BaFin and to strive towards offering banking services under a German bank license has always been our long life dream. We believe this step will make Bitcoin more mainstream and that is the goal. This process is long and hard but we have been working on this for many years and have made huge steps in the right direction. I can't give you any details at the moment because we will make a big announcement as soon as we are ready.

Best regards,
Robert @Bitwala

[Polivka GmbH]

Hi,

 I tried contacting you by email, via LinkedIn, telegram etc...
Support request (228180).

Please respond.

[bitwala]

Hi,

it's now 14 days since your blog post where you stated you'd refund people within 14 days.

I have not had any communication from you since, nor any refund. Also my Support ticket has not been replied to since 15th January and further emails have stayed unanswered. Same for messages on Twitter :/

Have you shut down completely now and running away with our money or what's going on!?

Thanks!

Hi,
I apologise for the radio silence regarding refunds from bank transfers. Your funds have been sent out from our old bank partner and are on their way to our BitPay account. On arrival, we will begin the refund process. Furthermore, we will post a public announcement later today with more details.

Best regards,

Robert @Bitwala

[bitwala]

Hi,

it's now 14 days since your blog post where you stated you'd refund people within 14 days.

I have not had any communication from you since, nor any refund. Also my Support ticket has not been replied to since 15th January and further emails have stayed unanswered. Same for messages on Twitter :/

Have you shut down completely now and running away with our money or what's going on!?

Thanks!

Hi,

Sorry for the late response, your funds (and all other funds from users) are on its way to BiPay and will be processed as soon as they arrive. We will send out an email later today with more info.

Best regards,

Robert @Bitwala

[LeGaulois]

 Hello @Bitwala

I know you can't give us a date but do you think the company will have the banking license and operate with it during the year 2018?
I know that before this you have a lot to do, to work on the Lightning Node, API's, Altcoins and surely much more but well me too I am dreaming to see  Bitwala with a banking license lol,

[bitwala]

Sadly, so far the promised email has not materialized

Hi stupid_footer,

I apologise for the delay in regards to refunds. Our bank has sent out all the funds back to BitPay and we are waiting for them to arrive. As soon as the funds arrive we will send out the funds.

Best regards,

Robert @Bitwala

[bitwala]

Hello @Bitwala

I know you can't give us a date but do you think the company will have the banking license and operate with it during the year 2018?
I know that before this you have a lot to do, to work on the Lightning Node, API's, Altcoins and surely much more but well me too I am dreaming to see  Bitwala with a banking license lol,

Hi LeGaulois,

We believe we will have everything set up end of Q2 2018.

Best regards,

Robert @Bitwala

[bitwala]

Still waiting... why does your support not reply to any mails any more then!? As I said, there has been no reaction since the 15th!

Hi stupid_footer,

I PM you.

Best regards,

Robert @Bitwala

[Astargath]

Bitwala has been pretty transparent, unfortunately that's really not enough, thankfully I only tried to withdraw 500 euros and not more otherwise I would have had thousands of dollars hostage for more than a month now. I'm personally not going to use the service again.

[bitwala]

Bitwala has been pretty transparent, unfortunately that's really not enough, thankfully I only tried to withdraw 500 euros and not more otherwise I would have had thousands of dollars hostage for more than a month now. I'm personally not going to use the service again.

Hi Astargath,
Thank you for giving us your fair feedback. We understand the pain that has been caused by our banking partner terminating their contract with us. This was a total surprise for us and was a result of the spike in transfers we had in the months before Christmas. We will start refunds very shortly and users will receive their refund amounts in BTC (depending on the EUR to BTC rate at the moment of refunding). This can result in users receiving more BTC than they sent us. Furthermore, we understand this doesn't make the issue of funds being in limbo for weeks any better but we are doing our best to make this process fair and transparent.
Best regards,
Robert @Bitwala 

[Astargath]

Bitwala has been pretty transparent, unfortunately that's really not enough, thankfully I only tried to withdraw 500 euros and not more otherwise I would have had thousands of dollars hostage for more than a month now. I'm personally not going to use the service again.

Hi Astargath,
Thank you for giving us your fair feedback. We understand the pain that has been caused by our banking partner terminating their contract with us. This was a total surprise for us and was a result of the spike in transfers we had in the months before Christmas. We will start refunds very shortly and users will receive their refund amounts in BTC (depending on the EUR to BTC rate at the moment of refunding). This can result in users receiving more BTC than they sent us. Furthermore, we understand this doesn't make the issue of funds being in limbo for weeks any better but we are doing our best to make this process fair and transparent.
Best regards,
Robert @Bitwala 

As I said, I do appreciate the transparency and communication and if you ever resolve the issues I will be glad to give you a positive feedback here. I will give you a neutral one when I receive the bitcoins.

[Samarkand]

Hello @Bitwala

I know you can't give us a date but do you think the company will have the banking license and operate with it during the year 2018?
I know that before this you have a lot to do, to work on the Lightning Node, API's, Altcoins and surely much more but well me too I am dreaming to see  Bitwala with a banking license lol,

Hi LeGaulois,

We believe we will have everything set up end of Q2 2018.

Best regards,

Robert @Bitwala

Have you ever considered setting up Bitcoin ATMs in Germany?

According to Coinatmradar there are currently zero Bitcoin ATMs
in Germany. Even obscure countries like Guam or Aruba have at least
one ATM.

I remember that years ago all BTC ATM operators in Germany had
to close their operations, because the operation of an ATM required
a BaFin license. If Bitwala is going to be awarded a BaFin license anyway
in the next months you wouldn´t face this problem.

To me it looks like a huge untapped market full of potential and aside
from the obvious advantages for Bitwala as a company this would
also be great for Bitcoin adoption in Germany.

[bitwala]

Have you ever considered setting up Bitcoin ATMs in Germany?

According to Coinatmradar there are currently zero Bitcoin ATMs
in Germany. Even obscure countries like Guam or Aruba have at least
one ATM.

I remember that years ago all BTC ATM operators in Germany had
to close their operations, because the operation of an ATM required
a BaFin license. If Bitwala is going to be awarded a BaFin license anyway
in the next months you wouldn´t face this problem.

To me it looks like a huge untapped market full of potential and aside
from the obvious advantages for Bitwala as a company this would
also be great for Bitcoin adoption in Germany.

Hi Samarkand,
You are well educated in the way things work regarding ATMs in Germany. This is a huge potential for Bitwala and for the crypto ecosystem. Let's see what we come up with in the future .

Best regards,
Robert @Bitwala

[puffmais]

First i was very happy with the bitwala services. all went smooth, and i got the highest verification.

but now iam waiting over a month to get my stuck payment back. iam waiting quietly but now its enough. btc exchange rate is now much lower and they want transfer less btc back than i paid?! the transaction was deleted from my bitwala account. what is going on there?

[ledio]

Yes, I am now really disappointed also. I can understand the difficulty with Banks, my company have losses few times because of the Bank policy. I can understand delays of over 30 days with resolving pending SEPA Bank transfers. But I can not understand why Bitwala promised to solve pending transactions by actual price of BTC (my case:02.02.2018) on the moment of refund and then pay back the same amount of BTC in a moment of the issued transaction (my case:29.12.2017)?
In my case difference is over 4000 EUR !!!!
Should your customers pay for the business difficulties of yours?


We are CRYPTOCURRENCY COMMUNITY and we all mine/trade/work with/for crypto and we are your customers with limitless trust in your part of the job.... then....when YOU start to have business difficulties WE must take the biggest hit for what happened to YOUR part in ecosystem!!! I give to you BTC by price what I accept in that moment for EUR, you hold my EUR for over a month and give me back half of the value saying IT IS VOLATILE MARKET.
 C´MON!!!