If you would be "obliged" to open one of the two accounts, which one would it be:

Bitwala or 1822direkt (Sparkasse)?

Of course, this is a hypothetical question, with which we hope to initiate an interesting discussion through the comments feature.

Before doing that, we will take a look into the comparison of the accounts of Bitwala and 1822direkt, a new connecting link between the digital currency industry and the real banking system, as well as a “granny-bank” with the aspiration to be able to defend bigger market shares also in the future.

Bitwala in comparison with the 1822direkt-Sparkasse

Bitwala 1822direkt
Account management always free of charge! depending on the account model and meeting of the requirements free of charge
Mobile: € 0.01 monthly incoming money flow, otherwise € 1.90
Klassik: € 700 monthly incoming money flow, otherwise € 3.90
Premium always € 9.90
(in the following, we only deal with the Mobile-version, because the hurdle for being free of charge is the lowest therein!)
Cards to the account Bitwala Card
Mastercard free of charge
1822direkt Sparkassen Card
Girocard by Maestro free of charge
Cash supply
within Germany
on the part of Bitwala free of charge at every ATM around the globe 4 × free of charge at all German Sparkasse-ATMs
Cash supply
Need of an optional Visa Card (separate product)
Integrated crypto-currencies Bitcoin (BTC)
Ethereum (ETH)
Account opening online online
Card payments
in Euros free of charge
in other currencies free of charge 1.75 %, but at least € 1.50 per payment
Online use
incoming and outgoing transfers free of charge
standing orders free of charge
online-banking, banking-app free of charge
incoming crypto-transfers free of charge
outgoing crypto-tranfers only the external network fees[1]
exchange Euros into Bitcoin/Ethereum 1 %
+ € 1 network fee[1]
exchange Bitcoin/Ethereum into Euros 1 %
+ network fee[1]
Annual tax report yes
[1] As weird as it may sound, but the transmitting of payments in crypto-currencies is a very computationally procedure that is implemented by decentralized computer units. So-called “miners” are substantially involved. Computers need energy and the network fees are so to say the compensation for the processing and confirming of cryptic payments.
Branch office use
personal contact there are no branch offices the branch offices of the Sparkasse do not belong to 1822direkt
Interest or deposit fees
interest for balance 0.00 % 0.00 %
deposit fee for balance −0.50 (ECB deposit rate)
from € 50,000
Overdraft facility no overdraft possible 7.17 %
Account opening
Requirements 18 years old + place of residence in Germany, Austria or other EU-countries 18 years old + place of residence and tax residence in Germany
Languages of the app, online-banking and customer service German and English German
Schufa-query or Schufa entry no yes
Start account opening: Weiter zur Bank
Weiter zur Bank
Which provider would be the more interesting choice for you? Don´t forget that it is rather about the meaningful supplementing of the current account system than its replacement, isn´t it?
Questions and supplements of the table are very welcome at the end of this page. Thank you so much!

Questions to the community

Please write your answers using the comments feature at the end of this page:

  • Would it be interesting to use Bitwala or 1822direkt as a free current account alternative or secondary current account?
  • Would 1822direkt be an alternative for larger cash withdrawals (depending on the region, there are limitations on the part of the Sparkasse for withdrawals with the Visa-cards of ING and DKB)?
  • Would it be interesting to enter the payment procedures with Bitcoin through Bitwala?
  • Would Bitwala be interesting for a foreign currency investment in Bitcoin?


Bitwala: Bankkonto, das Krypto kann

Want to try it? ► www.bitwala.com

Many thanks!

There is an update for everyone in our Sunday mail regarding the answers to these and future questions from the community. Thank you for your commitment!

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Richard helps people through this special portal to find bank products in Germany and abroad and shows how to use them optimally. You can register as a “fan” and, by doing so, watch even more instructions and videos.

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