Bitwala Stakes Claim as the Cheapest Bill Payment Service, Anywhere

October 15, 2015 18:34 UTC

Bitwala has announced that it will begin process all Euro transfers via payment processor BitPay and with it – provide the best exchange rate in the market.

Netherlands-based Bitwala, a crypto-to-SEPA service that uses its own bank account to make fiat-currency transfers to settle payments for its users who pay in bitcoin; has claimed to provide the best exchange rate for all Euro transfers.

In a blog post, Jörg von Minckwitz, CEO of Bitwala said:

We are now proud to announce that we have made one of our biggest steps since we were founded this past March. From today on, all Euro transfers will be handled by our long time partner BitPay and we will be able to provide you the best exchange rate out there.

Bitwala added to never having a “single issue or a single complaint” with payment processor BitPay with whom they’ve had a three-year partnership so far. BitPay has been in the news recently as the victim of a social-engineering hack where an opportunistic hacker gained 5,000 BTC (approx. USD $1.8 million at the time). There have also been reports of BitPay laying off staff since the incident along with the announcement to start charging a settlement fee for customers with more than 30 transactions a month.

Presently, Bitwala charges a 0.5% service fee toward the total transfer volume + 1 EUR as the total charge for settling a payment.

Von Minckwitz added:

From this moment on, Bitwala is the cheapest bill payment provider worldwide in the Bitcoin space and beyond.

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@sambdas

Samburaj is the Editor for CCN, among the earliest and foremost publications covering financial and blockchain news. He has authored over 2,000 articles for CCN. Email him samburaj(@)ccn.com or find him barely tweeting @sambdas

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