Mode, Crypto Banking App

Just been invited to the Mode Launch event later this month, looks like an interesting proposition as it’s a Fintech bank that operates in Bitcoin. So you can have interest earning accounts, loans and investments all with payment cards that work with Bitcoin.

Looks like its iOS only at the moment, which is a pain considering I literally swapped to Android a week ago! Good thing I kept my iPhone.

Given the volatility of crypto currencies it will be very interesting working out interest payments on savings and loans!

Given the biggest complaint about crypto currencies is you essentially cannot use it for anything at the moment, will having a usable card mean it is finally useful for day to day life?

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I haven’t really got started with crypto currency but a bit interested but my knowledge is limited.
How does this differ from Coinbase and things like that does anyone know?

Hmm, I’d hold off at this present moment in time…


Turns out my old iPhone 6+ with 12.4.4 wont run the Beta anyway :frowning:

So I will wait patiently while waiting to find the beta for the android app.

Good question. I work for Mode so I can explain more about the app:

Mode is an iOS mobile app designed to make Bitcoin accessible to everyone. Through the app, you can easily buy and store Bitcoin, and access it anytime, anywhere. You also have the ability to send Bitcoin to other wallets around the world or sell it whenever you want. Alongside Bitcoin, you can have a Sterling (£) account with free and pretty much instant deposits/withdrawals. As Stuart mentioned above, we are already planning new in-app products & features such as: using Apple Pay to buy Bitcoin, earning Bitcoin from your holdings (like savings accounts), crypto-backed loans, a payment card etc., These will be announced in the coming months.

To answer your question: What makes Mode a better solution? Well…

• We’ve designed a super-easy, super-simple interface that removes all the complexities associated with buying, exchanging and holding Bitcoin. We really want to make getting into crypto as effortless and as seamless as possible. And we mean it.

• In terms of fees, most wallets/exchanges (incl. Coinbase) make it complex, confusing and expensive to buy and sell crypto. They usually charge fees here, there and everywhere; usually a spread, plus a flat fee and/or a variable fee on the amount you pay. At Mode, we only charge 0.99% at the time of buying/selling Bitcoin. That’s it - No variable or hidden fees.

• We also don’t charge our customers for transferring money in and out of your account either, which is usually where others make money. And we will make your funds available in less than 5 seconds, a process that otherwise can take up to 5 days with some of the most renown crypto exchanges.

• Our onboarding and identity verification processes are one of the fastest out there. You won’t need to take pictures holding an A4 paper or wait hours for a response on whether you’ve been approved or not. Our process is automated and usually takes less than 2 mins from start to end.

• Finally, we are more than just a wallet. We want to become your all-in-one Bitcoin banking app, where you can do everything you’d expect from your bank account. That’s why the features and products we’re planning for the future focus on maximising the potential of your Bitcoin.

I hope this clarifies some of your questions! We have launched the first version of the app in BETA. Here’s the link if you want to test it out: (invitation code: MODEBETA). Let us know what you think! My email is: ariane@

The crypto space is evolving fast but it’s still very technical and generally disconnected from our daily lives and banking habits, and we are essentially trying to bridge this gap.

All the best!


Thanks for the detailed info

You’re very welcome :smile: Anything else you need to know let me know!

2,130 on the waiting list, just for the app !!

I have the beta already for the iPhone - I’m just waiting for the android version.

Mode, Crypto " Banking " App

“a Fintech bank that operates in Bitcoin”

Is it a bank ? with full FCA guarantee - which the term ‘bank’ suggests - or is it a group of companies under ’ R8 ? ’ which is described as ’ Information technology consultancy activities ’ with no financial guarantee of depositor funds should they go bust ? not that Im suggesting they will go bust :slight_smile:

How is this any different from Wirex?

Good chance they will though

Hi Ian,

That’s correct - we a part of the R8 Group but we aren’t a bank. However, we take the safety of our customers’ money very seriously that’s why we have chosen to work with a UK-based FCA-regulated and authorised payment provider, who will be safeguarding our customers’ money on our behalf.

For the safety of the Bitcoin funds of our users, we have partnered with an industry-leading crypto custodian who offers a top-notch secure and compliant storage solution that blends the best elements from hot and cold storage.

Finally, in our quest to creating a transparent, fair and regulated environment, our parent company has recently applied for an E-Money Licence Application with the Financial Conduct Authority (FCA). Under this licence, we will be offering a broad range of payment services to the community, from money-to-crypto exchanges to the issuance of payment cards for a deeper immersion of digital assets into our daily lives.

I hope this answers your question!

To try the app download it now using the code ‘MODEBETA’ :stuck_out_tongue_winking_eye::

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not really , but good luck

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I’ve downloaded Mode, but there appear to be some issues with verification - no, not with me personally, but the address checking system - which thinks the address fields are empty when they are not. They are “working on it”

Hi Ric, my colleague reached out to you via email. This issue has now been fixed so you should be able to verify your account now!

Hi all!

We’ve just launched a really exciting product - Bitcoin Jar - our interest generating product.

Our Bitcoin Jar aims to give people access to higher-interest earning products than those they are accustomed to by offering a 5% APY for the next 8 weeks with no lock-up periods — making it one of the most flexible, high-yield products in the Bitcoin market.

Read more on our blog:

Hi Kai

Im interested to understand the mechanism behind this bitcoin jar.

As Mode is not a regulated Bank and you are not FSCS regulated is there a chance of losing capital here?

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We generate interest by working through partnerships with market-leading institutional lending providers. They generate yield by lending out Bitcoin and other digital assets to carefully vetted borrowers.

As with all investments, there is risk involved; however, we only work with partner providers who offer bank-grade custody solutions and over-collateralised loans to manage and reduce these risks.

Who are these partners?

So just to remind you, Zeux was ordered recently by the FCA to withdraw adverts saying customers will earn 5% interest on crypto backed savings though a similar set up using We Cash.