In 2013, Bitwala was formed by three friends with the simple objective of being able to pay for everyday items with bitcoin. The exchange stagnated for some time but made a major comeback in 2018 when it became the world’s first cryptocurrency bank. The Exchange allows clients to store and trade various digital assets — Bitcoin, Ethereum, and more — from a single platform.
Bitwala Review, Pros & Cons
- Proprietary trading platform
- Educational resources
- Various cryptocurrencies
- No USA clients
- No standalone trading tools
- Cryptocurrency trading only
In this detailed Bitwala review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Headquartered in Berlin, Germany, Bitwala is a digital assets exchange that allows you to buy and sell various cryptocurrencies from your bank account. They provide traders with a proprietary trading platform, which is available in web and mobile versions. There are several learning tools as well as a competent customer support team available to assist traders.
The Exchange is not regulated by any known financial authority at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Bitwala is available for residents of the European Economic Area, including Switzerland, and accepts identification documents from over 70 nationalities.
Some Bitwala features and products mentioned within this Bitwala review may not be available to traders from certain countries because of legal restrictions.
Traders are provided with the Bitwala trading platform. The platform was designed in-house with a user-friendly interface, which makes it suitable for all levels of traders. It enables its users to trade various digital assets with ease whilst offering you a Bitcoin and Ethereum wallet so you can store ETH and Bitcoin in the same app.
The Exchange makes the Bitwala trading platform available as a WebTrader that runs directly on modern web browsers — Chrome, Safari, Firefox, and Edge — without needing to download or install any additional software, and a mobile app that is designed specifically for mobile devices running on android and iOS.
Bitwala Trading Tools
There are no standalone trading tools on the Exchange’s website at the moment.
There are various learning resources on the Exchange’s website, which are designed to help traders make informed trading decisions. They include market news, blogs, a trading academy, and an FAQ section that answers some of the common questions that traders may have.
Bitwala offers various cryptocurrencies, including Bitcoin and Ethereum.
Bitwala Accounts & Fees
Traders are allowed to create a single live trading account, and the minimum amount required to start trading is €30. Multiple accounts are not allowed for a single user.
As broker fees can vary and change, there may be additional fees that are not listed in this Bitwala review. It is imperative to ensure that you check and understand all of the latest information before you open a Bitwala broker account for online trading.
The Exchange’s customer support service is available in German and English, and they can be contacted via Live Chat and several social media handles — Twitter, Facebook, Telegram, YouTube, and more.
Bitwala Deposit & Withdrawal
At Bitwala, all account deposit and withdrawal requests are processed using any of the following payment methods:
- SEPA transfer
- Credit/Debit cards
- Cryptocurrency — Bitcoin and Ethereum
Bitwala Account Opening
It is easy to open a live trading account with Bitwala: simply click on the ‘Open Account’ button at the top right corner of the Exchange’s website. Fill out the account application form properly and provide the necessary documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
With a combined trading experience that spans many years, Bitwala is a cryptocurrency exchange that allows clients in more than 70 countries across the globe to trade cryptocurrencies from their bank account. They provide clients with web and mobile-based trading platforms, and there are several educational resources available to assist clients. The minimum deposit required to start trading is €30. However, the exchange is not regulated by any known financial authority at the moment.
Trading cryptocurrencies carries a high risk and can lead to the total loss of the invested capital. Do not invest more than you can afford to completely lose. Before you start trading cryptocurrencies make sure that you fully understand the risks associated. Any personal successful investments when trading cryptocurrencies in the past in no case indicate your success in the future. The cryptocurrencies traded on Bitwala.com are not suitable for all investors.