Bitcoin apps and wallets are flooded in the market with many financial institutions introducing new apps now and then. Talking about the crypto wallets, the cryptocurrency banking provider ‘Bitwala’ has started offering its banking services to crypto users in Germany. According to the news report, 40,000 users are already on board and new users will be coming on board soon on their waitlist place.
The company stated that account opening takes only a few minutes and the user needs an ID to open an account. The consumer must complete the KYC (Know your customer) process that includes video verification. This spokesperson of the company shared details about this service which will soon add support for additional countries and cryptocurrencies.
The new crypto wallet app is user-friendly and built keeping in mind customer satisfaction. Users will receive an Iban and a contactless debit card which will allow them to buy and sell BTC and manage expenses. The Bitwala account comes with a bitcoin wallet. Users can manage both their BTC and euro deposits in one place, the announcement describes. Roman Kessler was quoted as saying, ” 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.” as reported on Bitcoin News.
In the meantime, Samsung is reportedly creating a Bitcoin app that might come with a cold wallet to save cryptocurrencies. As security is vital for a cryptocurrency app, accounts created using the Samsung Bitcoin app will be stored on the blockchain network with complete anonymity.
Unlike many other Bitcoin apps, Samsung’s cryptocurrency solution will have two major parts, reports SamMobile. One part of the app will be the cold wallet to let users save their Bitcoin and other cryptocurrencies, public and private keys and sign private keys for cryptocurrency transactions, as mentioned in NDTV Gadgets. On the whole, crypto wallets are trending in the market with an aim to overcome issues associated with cryptocurrency.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]