Bitwala continues to expand its services in an attempt to make the cryptocurrency more appealing. After their recent partnership with Shapeshift.io, the company is now expanding their features yet again. Altcoins are now officially supported when making SEPA or SWIFT transfers. This makes Bitwala a very affordable and the fastest solution to send money around the world.
Bitwala Altcoin Support Has Arrived
As part of the recent partnership with Shapeshift.io, Bitwala had enabled support for Ethereum on their platform. This move allowed Ethereum users to send money to anyone in the world through regular SWIFT and SEPA transfers. But the company is not resting on its laurels, as they use that existing partnership to leverage additional altcoin support.
Now that all of the supported Shapeshift altcoins can be used to send money around the world, an exciting ecosystem is created. Keeping in mind how Bitcoin remittance solutions are not necessarily cheap, this news may improve the situation. Bitwala is known for their cheap money transfer solutions.
But there is more, as all of the altcoins can now be used to top up the Bitwala debit card as well. In doing so, Bitwala becomes the first company to support other altcoins other than Ethereum to do so. This is great news for alternative cryptocurrency communities who now have an additional use case to spend their favorite coins.
The fees for SEPA and SWIFT transfers are the same as for Bitcoin. SEPA transfers are subject to a 0.5% fee or a minimum fee of 1 EUR. SWIFT transactions are also subject to 0.5% fees, but there is a surcharge of 15 EUR per transaction. These rates are still very competitive compared to other solutions.
For the time being, this new feature is still in beta mode. Errors may occur along the line, and they should be reported to the Bitwala team immediately. No money will be lost in the process, which should reassure users of the platform. Now that Bitwala has been expanding its services to popular altcoins, it will be interesting to see what the company has planned next.
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