Norway’s Largest Bank Favours Bitcoin, Simplifies its Purchase and Usage

Norway’s Largest Bank Favours Bitcoin, Simplifies its Purchase and Usage
Adoption & Regulations
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Most important bank in Norway dnb asa, It's just called dnb, presented a new functionality on its application called vipps, that allows any person in the country to pay companies with credit cards or bank accounts. The application, which works like paypal, can be used to send payments to anyone in the area by simply entering a mobile phone number, email address or user name.

Norwegians can now purchase Bitcoin with credit or debit cards through Bitcoins Norway, without any excessive user verification and authentication.

How do I buy Bitcoin from Norway?

Bitcoins Norway, a major Norwegian exchange of Bitcoin, has used the new functionality of DNB's Vipps to enable its clients to buy Bitcoin through simple credit or debit card payments.

To purchase Bitcoin, users can send any amount of the Norwegian krone to myaccount@bitcoinsnorway.com after settling a Bitcoin purchase order. By using vipps app, users can immediately submit a payment to bitcoins norway's email address, who will then check the payment and send Bitcoin to the Bitcoin address of the client.

A user of Bitcoins Norway, who recently was notified of Bitcoins Norway’s new service, released a screenshot of the user interface.

Bitcoins Norway compared to other exchanges by mutual agreement.

In most countries, there are Bitcoin OTC exchanges such as Bitcoins Norway, which allow customers and users to buy and sell Bitcoin without excessive verification of the user. Users can visit bank branches or payment desks to send or receive payments for Bitcoin.

In the Philippines, a start-up supported by venture capital known as buybitcoin.Ph offers a similar service, whereby users can make deposits in a bank and claim Bitcoin via their Bitcoin address.

Norwegian bitcoins eliminates the need to visit the physical sites of banks and points of call and allows users to buy and sell Bitcoin directly from their mobile phones. It maximises efficiency while optimizing the user experience.

Market dominance of Vipps and DNB

The user, who reported on Bitcoins Norway’s newly introduced feature, also stated that Vipps had a lot of users, around 27 percent of the Norwegian population.

According to various research data, Vipps remains the most dominant mobile app in the country to date, with 85 percent of Norwegians aware of the app and 25 percent of the entire population actively using the application.

Dnb also published on an official market study on vipps, which said that 43 per cent of vipps clients are not dnb clients. This means that Norway's largest bank has taken control of non-bank populations that are underserved by its innovative mobile app.

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