Coinmotion adds SOFORT payments and announces new wallet vault feature

Coinmotion adds SOFORT payments and announces new wallet vault feature

Finland based bitcoin exchange and wallet Coinmotion has added SOFORT as an acceptable payment method for users to fund their accounts for the purchase of bitcoin.

With this new addition it allows for instant bank transfers, giving the exchange, which is an acting brokerage, speedier service to its customers.

SOFORT provides instant payments from 13 European countries: Germany, France, Austria, Italy, Poland, Switzerland, the Netherlands, Spain, United Kingdom, Hungary, Belgium, Slovakia and the Czech Republic. As part of this update, Coinmotion also added volume discounts, where traders can receive discounts based on a trailing 30-day volume, as pictured below.

coinmotion-fees

Coinmotion also slipped some news that they are working on a new bitcoin feature as part of their wallet service. They said that their next big update will be a vault account feature, which they plan on launching next month. If a “vault” feature sounds familiar to you, it’s because Coinbase also has a vault in their wallet. If the Coinmotion wallet vault is anything like the Coinbase vault, then it will probably have similar features like multisig, offline storage, and maybe time delayed withdrawals.

In February of this year Coinmotion was acquired by Finnish company Prasos, which also owns and operates a bitcoin exchange called Bittiraha.

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david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.