Partnerships are being forced in the world of Bitcoin and cryptocurrency around the clock. Bitwala, one of the leading Bitcoin payroll providers, partnered with ShapeShift to accept all the great cryptocurrencies. This is kind of interesting news, as all of the existing Bitwala services will now encompass altcoins as well.
Everyone in the cryptocurrency world knows the name ShapeShift.io. This platform is one of the most convenient exchange platforms in the world for both Bitcoin and altcoin enthusiasts. Bringing that level of support to the Bitwala platform is kind of interesting, as it expands the “modern banking” companies list of supported currencies.
As is the case with most businesses in the cryptocurrency space, Bitwala started out by primarily focusing on Bitcoin. However, there are other coins in existence which gained substantial market traction. Considering how Shapeshift will not just add any altcoin, the partnership between both companies seems the right way to go.
This partnership will let users pay bills, make bank transfers, and top up the Bitwala debit card with all of the supported altcoins as well. Sending a SEPA transfer with DASH,? No problem! Topping up a Bitwala debit card with Ethereum? Or how about paying a bill with Monero? It can all be done from within one and the same ecosystem.
The primary objective of this new partnership is to offer more convenience to cryptocurrency enthusiasts. While there is still a verification procedure to go through to lift the 2,0000 EUR monthly limit, everything else has become more streamlined. Users can pay their invoices, top-ups, or bank transfers by scanning the QR code generated by the Shapeshift integration.
Do keep in mind all of these transactions are subject to a 0.5% fee. This fee covers conversion from cryptocurrency to fiat currency when sending bank transfers to recipients around the world. All in all, this is very positive news for the supported altcoins. Bitwala, they can now attract a lot of new users this way.
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