Bitwala will focus more on bitcoin, not impressed by the public's response to altcoins

posted about 6 years ago
In a recent blog post Bitwala, a crypto-to-SEPA service, stated that from now on company will focus more on bitcoin, because Bitwala is not impressed by the public's response to altcoins.

"The intention of this post is not to bash Altcoins. There are a lot of exciting projects out there, with vibrant communities, tirelessly working on advancing Blockchain projects and the fascinating world of cryptocurrencies. But let’s face the truth: Nobody is using Altcoins. And by Altcoins, we mean projects that use a tradeable token to incentivise the sturdiness and resilience of its blockchain – because without a token, a blockchain don’t make a whole lot of sense. So we’re talking about pretty much all projects that are listed on CoinCap." - said in post.

"You’re wondering how much turnover we had with Altcoins in the past two months? A little more than 3 Bitcoin in total. Roughly 2000 USD, if you generously round up. In the same time, we had a total turnover of approximately 2 million USD with Bitcoin. That’s 0.1 percent turnover in Altcoins. We charge a flat fee of 0.5% per transaction. Do the math. You’ll probably get the point.

So we’ll focus on Bitcoin again. We will still accept Altcoins, and we will make announcements once in a while (hint: Steem Dollars)."
Tags: news, bitcoin