DNB accepts Bitcoin, making purchase & use easier

29. november 2016
Vipps dnb bank

DNB ASA, which many will know is the biggest bank in Norway, has brought out a great feature on the popular app named Vipps, enabling anyone in Norway to pay merchants and businesses with debit and credit cards or regular bank transfers.

The app functions in a similar way to PayPal and can be utilized to pay anyone in Norway instantly. All you need is a username, the person’s email address, or mobile telephone number.

Norwegians are now able to buy Bitcoin from Bitcoins Norway, using a regular credit/debit card. No over the top verification process or authentication, found at many such exchanges, will be needed.

Purchasing the cryptocurrency Bitcoin in Norway

Bitcoins Norway is one of the best-known exchanges in the country. It has now hooked up with DNB’s Vipps app to enable people to buy Bitcoin by using their credit and debit cards.

Buying is very easy. Users of the Vipps app just need to send Norwegian Krone to a designated account after placing a purchase order for Bitcoin. Making use of the Vipps app enables would-be buyers to immediately send funds to Bitcoins Norway and they in turn will authenticate the Bitcoin purchase order and cause the Bitcoins to be released to the user’s wallet.

To see a screenshot of the app interface, click here. This was created by a real-life user.

How does Bitcoins Norway compare to alternative over the counter exchanges?

In many other places in the world, it’s possible to buy Bitcoin easily. These exchanges allow users to buy & sell Bitcoin with minimum hassle, as the user verification process is streamlined for maximum convenience. This is possible at remittance business outlets, for example, where both sending and receiving Bitcoin is possible.

One nation where this is common is the Philippines, which has many overseas foreign workers sending money back home. A startup going by the name of BuyBitcoin.ph offers this service, with deposits made through banks enables users to buy and sell Bitcoin.

Bitcoins Norway makes the whole process easier by taking away any requirement to visit banks or remittance firms like the Western Union, instead allowing users to do everything through a handy app on their mobile phones.

Vipps is already dominating the market

There have been reports that Vipps already has 27% of Norwegians as users. It’s estimated that up to 85% of all Norwegians are aware the app exists, meaning the potential for expansion is huge.

According to DNB itself, which released research on the matter, 43% of Vipps users aren’t regular DNB customers. This proves that DNBs reach has extended beyond the banking population and is serving the underserved as well.