Bitwala offers a number of services for bitcoin such a debit card and trading services. Established in 2015, the company is based in Berlin. One of the services is a cryptocurrency web wallet service. Bitwala initially only supported Bitcoin but through a partnership with Shapeshift, support was expanded for multiple cryptocurrencies. Users of the wallet are in control of their private keys and decide on how they are backed up and stored. The trading services and debit card integrate together which add to the use cases for the Bitwala wallet. Over 20 local fiat currencies are supported so payments can be made from cryptocurrency into a number of different currencies. Going forward, Bitwala is looking to offer banking services which combine the fiat world with the cryptocurrency world.
The wallet is hierarchical deterministic. It also has multi-signature functionality and users can enable two-factor authentication to add an extra layer of security. Users are also forced to apply a strong password to their account. One of the key features of Bitwala is payments are supported for over 20 fiat currencies with the fees being cheap. Most transactions have a fee of 0.5% to 1%.
The wallet is available in the web browser and has been noted to be easy to use. Bitwala is more of an all-in-one solution with the offerings all interacting with one another.
- Users are in control of their private keys
- Fees are low
- Easy to use
- Supports multiple cryptocurrencies
- Hierarchical Deterministic
- Multi-signature functionality
- Over 20 fiat currencies supported
- Multiple cryptocurrencies supported
- More of an all-in-one solution with users getting the most utility when the wallet is used in conjunction with Bitwala’s other services
- The wallet is only available in browsers