Bitwala is a cryptocurrency exchange that was born out of the need to pay for everyday items with Bitcoin. The Exchange is based in Berlin, Germany and has been operating since 2013; however, it became a lot more popular in 2018 after becoming the world’s first cryptocurrency bank. They provide traders with a proprietary trading platform to help them buy and sell various digital assets, including Bitcoin, Ethereum, and more, from their bank account. There are several learning tools as well as a competent customer support team available to assist traders. The minimum deposit required to start trading is $30. In addition, they charge low commissions starting from 1%.
Bitwala Review Introduction
In this Bitwala review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers, including Bitwala.
Bitwala Platforms & Tools
Bitwala provides traders with an in-house-developed trading platform. The Bitwala trading platform is designed to ensure the seamless trading of various digital assets. Thanks to its user-friendly interface, traders of all experience levels can navigate through it with ease. In addition, the platform offers a Bitcoin and Ethereum wallet to enable traders to store ETH and Bitcoin in the same app. The platform is available in both web and mobile versions. The WebTrader does not require the download or installation of additional software as it runs directly on modern web browsers, such as Chrome, Safari, Mozilla, and Edge. The Bitwala mobile app is best suited for traders who wish to place trades and check trading positions while on the go using their mobile devices.
Bitwala Research & Education
The Exchange’s website contains essential educational resources to help beginner traders better understand how the financial markets work. These educational resources include an FAQ section, blogs, a trading academy, and market news that keeps traders informed of the latest events in the financial markets.
Bitwala Trading Accounts
Traders can create a single live trading account, and the minimum amount required to start trading is €30. However, it is contrary to the Exchange’s terms and conditions of service to open multiple accounts for a single user.
Bitwala Account Funding
Bitwala clients can deposit and withdraw funds to and from their trading accounts using various payment methods, such as SEPA transfer, credit/debit cards, and cryptocurrency — Bitcoin and Ethereum.
Bitwala Customer Service
The Exchange offers a multilingual client support team that can be reached through Live Chat and several social media handles — Twitter, Facebook, Telegram, YouTube, and more. The support team offers comprehensive responses to clients’ general, technical, and account-related inquiries.
The Exchange is not regulated by any known financial authority at the moment. The lack of regulation can discourage some prospective clients from opening a trading account with the Exchange.
Bitwala Review Summary
Bitwala is an experienced digital assets exchange that allows traders to buy and sell various cryptocurrencies using their bank accounts. The Exchange’s services are available in over 70 countries. Trades are carried out using a proprietary trading platform that is available in web and mobile versions. The minimum deposit required to start trading is €30. Unfortunately, there is no regulatory information on the Exchange’s website at the moment.
It is worth mentioning that some of the trading products and services in this Bitwala review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Bitwala broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. It would help if you considered whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.