Airbitz Partners with Clevercoin to Offer Buy/Sell in Eurozone; Integrates New Accounting Tool

[Correction: The article has been updated to mention that the buy/sell feature is in testing phase at the moment (not the accounting tool as previously mentioned)]

Airbitz, a San Diego-based bitcoin startup, has announced that it has expanded its in-app buy sell feature to Europe by partnering with the Dutch exchange Clevercoin.

Residents based in the United States (San Diego, California) and Canada have been enjoying the ease of buying bitcoin through their bank account which has been facilitated by the partnership of the Airbitz mobile app and Glidera exchange.

Last month, Airbitz announced its expansion to Europe and it has been looking for beta testers in the region for the new feature. The company said that residents in 19 Eurozone countries can now enjoy the same buy and sell services as their North American counterparts through Airbitz. The countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

The buy/sell feature is currently in testing phase and will be rolled out soon.

“We're excited about our expansion to Europe and happy to do it with our awesome partners Clevercoin. We aim to build a global brand enabling people to easily buy, sell, secure, send, and receive Bitcoin and this launch is a key piece of that goal”, said CEO and co-founder of Airbitz Paul Puey in a statement. “We look forward to expanding this service in 2016 and doing so while retaining our core beliefs in never holding custody of users’ data, keys, or funds.”

Earlier, the digital wallet platform integrated Fold into its own app which enables users to buy gift cards for Starbucks and Target within the app. The company said that it plans to expand to other regions in the coming months.

“Airbitz hopes this will broaden services to people in the UK who want quick and easy bitcoin transfers and plan on expanding to other regions in the coming months”, it said.

In an interview, M.K. Lords, Marketing/Community Manager of Airbitz, told EconoTimes in December that the company has a few surprises that the users will love and added “2016 promises to be even more extraordinary for Airbitz”.

The company seems to be doing just that – the year has started off quite well for the startup with its expansion to Europe and it recently announced that it has built a “handy accounting tool” right inside its app.

Airbitz Accounting Tool

In order to help its users manage and organize their bitcoin transactions, Airbitz has built an accounting tool inside its app.

While sending or requesting bitcoin, users can label each transaction for their record keeping. After a transaction has been completed, users can select:

• Expense: When a user spends bitcoin on an item, with a merchant, or just paying someone back.
• Income: When a user receives bitcoin for work done or products sold.
• Transfer: When a user sends or receives bitcoin from one bitcoin account to another. 
• Exchange: When a user moves bitcoin to an account that changes it into another currency besides bitcoin. This option is selected while using Airbitz’s buy and sell feature.

When a selection out of the above mentioned options is made, an auto-populated menu is available to the right of the button a user chose so that they can easily categorize what the specific transaction was used for.

Moreover, when the details of past transactions are reviewed, users will be able to see the bitcoin price at the time of the transaction which assists with any reporting requirements.

Users can also create their own categories which will be saved in their account and appear in the categories list for future use. Additional details can be added in the “notes” field. All of this sensitive information contained in the app is client side encrypted, the company said.

“We made this accounting feature to assist merchants and consumers with dissecting the details of their bitcoin transactions and are currently the only bitcoin app that makes categorizing your transactions this easy”, Lords said in a blog post.