Nuri (ex.  Bitwala), A neobank in Germany, Personal accounts (with a debit card), and everything is handled on an iPhone or Android app. Nuri is a neobank that integrates banking with crypto to let you control your funds and crypto investments. This is a short guide to introduce you and how to use Nuri. Bitwala was originally founded in October 2015 by Jörg von Minckwitz, Jan Goslicki and Benjamin P Jones who started working for an international blockchain-based payment service provider based in Berlin, Germany. The German start-up also used digital currency to deliver the services much faster and cheaper, Wired wrote compared with other money transfers such as Western Union, Money Gram and Transferwise. 

Bitwala used to have a global product. They offered SEPA and SWIFT money transfer services with Bitcoin or Altcoins converted to more than 20 fiat currencies to any bank account anywhere in more than 200 countries worldwide. Bitwala rebranded in May 2021 and they renamed themselves Nuri. 

Create a Nuri account

• Check Out the Nuri Website or Download the App: 
• Visit Nuri’s website or download the app on the App Store or Google Play. 
• Click on “Sign up”:  
• Enter your email and set up a password. 
• Accept the terms and conditions. 

Verify your Identity:  

• File a valid government document (passport, national ID card). 
• Complete the video verification process.  

Wait for Approval: After verifying, you’ll get an email with confirmation and your account will be live. 

Set up your bank account  

IBAN account creation:  You’ll be able to receive an instant Euro-based IBAN bank account once you have your account approved. 

• Link external accounts (Optional):  Add third-party accounts to make for easy SEPA transfers if needed. 
• Order your debit Card:  Demand a free Visa debit card in the app. 
• When received, tap on the card in the app. 

Explore cryptocurrency wallets  

• Bitcoin and Ethereum Wallets: Visit wallets from the account dashboard. 
• Nuri has non-custodial wallets, so you own private keys. 
• Back up your wallet: Save your wallet recovery key somewhere safe. 
• Don’t tell anyone your recovery mantra. 

Deposit or buy cryptocurrency

• Deposit crypto with the app or buy Bitcoin/Ethereum with your bank account. 
• Spend and earn with the budgeting feature of the app. 

Manage security settings  

• Two-Factor Authentication (2FA):  Put 2FA in the app to make sure of security. 
• Notifications:  Set up transactions, deposits and withdrawal alerts. 
• Freeze your card (if needed):  Lock your debit card in the app temporarily when it is stolen or lost. 

Fees and limits  

Account and Card: Nuri accounts and debit cards are completely free. 

Crypto transactions: Check the app for the current price of buying/selling cryptocurrency. 

ATM Withdrawals:  Unrestricted withdrawals in the Eurozone to a certain threshold. (Please check the app.) 

In January 2018, Bitwala was suspended when its prepaid card provider, WaveCrest Holdings LTD, lost its VISA licence for non-compliance. It was one of many cryptocurrency service providers such as CryptoPay, TenX and Wirex that couldn’t afford to maintain their full range of products. 

Bitwala joined the European Fintech Alliance in August 2018. Their new website went live in October 2018, just when they announced their partnership with Berlin’s white-label bank solarisBank. 

The Journey of Bitwala to Nuri: evolution, challenges, and rebirth

Bitwala had raised 4 million euros from VCs Earlybird and Coparion in September 2018 to enable them to start the re-launch in November 2018. In December 2018, Bitwala introduced Europe’s first regulated blockchain banking solution that allows you to hold both your Bitcoin and Euro funds together in the same account with the safety and convenience of a German bank account. It is a bank account of the Berlin-based Solarisbank. 

Nuri applied for insolvency on Tuesday, August 9, 2022. In their press release, they mention users’ funds and investments are protected by their bank partner, Solarisbank. 

And since December 2023 Nuri is still running on Bitwala, as her name again.

Follow this tutorial to get all of Nuri’s revolutionary banking and crypto services. Bank your money, trade crypto, and benefit from a state-of-the-art neobank. 

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