Bit2Me cancels commission fees

In a bid to stay competitive in the Spanish market, Bit2Me, a bitcoin-to-cash service, has cancelled its commission fees. The company charged its users a 1% commission fee per transaction previously.

Daniel Diez, business development manager at Bit2Me, said that shift in focus from monetisation to short-term growth was the reason behind the company's decision.

"Our main priority is to offer the best possible service. We were the first to develop a technology that enables the widespread use of bitcoin. This [the widespread use] remains our mission and is what sets us apart from the rest of our competitors."

He further said that the users hoping to increase their allowance further will have to go through further ID checks by the company. Moreover, Bit2Me is also looking to expand into Romania and Poland within a month, he added.

"We have always been interested in expanding outside the eurozone, as we can offer an added value service due to the fact that it is harder to move capital in these countries and the local fiat currencies are more unstable", he said.