Bitwala, a startup founded in 2012, was created with the intention of being the “smart way to send money easy, safe and fast.” They offer debit cards with transparent and low fees, and users are able to shop online, or cash out their local currency at any ATM.
Last week, Bitwala announced their partnership with ShapeShift.io. This partnership now enables Bitwala to accept all cryptocurrencies.
“We see Bitwala as a bridge between traditional and modern banking that is easy, secure and accessible to anyone who would like to use Bitcoin or Altcoins in their daily finances.”
Originally, Bitwala was created to support Bitcoin, but ever since more cryptocurrencies hit the scene and there was high market traction, Bitwala decided to open more doors by integrating these altcoins into their plans. Users are able to pay bills or send money globally with any altcoin.
Since Shapeshift.io includes Ether on their list of supported cryptocurrencies, it’s good news for the Ether users around the globe. With one of Bitwala’s debit cards, users are able to easily incorporate Ether spending into their other cryptocurrency activities. And now, Bitwala is upping their ante by making SEPA (Single Euro Payments Area) or SWIFT transfers even faster, and a more affordable way to send money globally.
For SEPA transfers, Bitwala charges a 0.5% fee of the total amount or a minimum of 1 EUR per transaction made. For SWIFT transfers, they charge that same 0.5% fee of the total amount, or a minimum of 15 EUR per transaction, making it one of the cheapest services on the market of global transfers.
Bitwala does warn their users that these services are still in Beta mode but reassures them with promises that if any issues were to occur, users may contact Bitwala and they will resolve the issue with no harm to the user’s funds.
Stay tuned to learn when this feature is out of its beta mode.