Norway's largest bank DNB favors Bitcoin and has simplified the country's Bitcoin trading and use processes

Norway's largest banking group DNB ASA, or DNB for short, has added a new feature to its Vipps app that allows anyone in the country to pay for business with a credit card or bank account. The app works similarly to PayPal and can be used to send payments to anyone in the region, just by entering a phone number, email address or username.

Norwegians can now buy bitcoin using a debit or credit card through the Bitcoins Norway service, without any extensive user verification and authentication.

How to buy Bitcoin in Norway?

Bitcoins Norway, a well-known Bitcoin exchange in Norway, has taken advantage of DNB’s newly added Vipps feature to allow its customers to purchase Bitcoin with a simple credit or debit card payment.

To buy Bitcoin, users can add a Bitcoin buy order and then send any amount of Norwegian kroner to [email protected]. Using Vipps, users can instantly send payments to the Bitcoins Norway email address, which will then verify the payment and send Bitcoin to the customer's Bitcoin address.

Bitcoins Norway vs. other OTC exchanges

In most countries, there are OTC Bitcoin exchanges, such as Bitcoins Norway, that allow consumers and users to buy and sell Bitcoin without much verification. Users can go to a bank branch or remittance outlet to send or receive Bitcoin payments.

In the Philippines, a venture-backed startup called BuyBitcoin.ph offers a similar service, where users can deposit money into a bank and exchange it for bitcoin.

Bitcoins Norway eliminates the need for users to visit banks and remittance outlets in person, allowing users to buy and sell Bitcoin directly using their mobile phones. This service maximizes efficiency while optimizing the user experience.

Vipps and DNB’s market dominance

A user who was recently notified of Bitcoins Norway’s new service recently shared a screenshot of Vipps’ user experience.

The user also said that Vipps has a lot of users, accounting for about 27% of the Norwegian population.

According to various survey data, Vipps is currently the dominant mobile app in Norway, with 85% of Norwegians aware of the app and 25% of the population using it.

DNB also released a formal market research report on Vipps, which showed that 43% of Vipps customers were not DNB customers. This means that Norway’s largest bank has taken over the unbanked and underserved population through their innovative app.