Positioning of Bitcoin-Only Brands in the DACH Fintech Sector

Written by Stratoor Consulting | Jun 26, 2025 1:32:06 PM

The Strategic Relevance of the Bitcoin-Only Positioning in the DACH Region. Detailed Analysis and Recommendations for Action.

The Bitcoin market in the German-speaking region (Germany, Austria, Switzerland) has grown significantly in recent years – but at the same time has become increasingly fragmented and regulated.

"While the major international multi-coin platforms like Binance, Kraken, or Bitpanda leverage their token variety as a growth driver, more and more specialized providers are deliberately opting for the Bitcoin-only model. This clear focus on Bitcoin as "digital gold" is becoming not only a differentiation factor but a strategic necessity."

#mica #cryptoregulation #euregulation #notyourkeynotyourcoins #stratoorconsulting #bitcoinonly #positioning

This article analyzes the current positioning of the key Bitcoin-only brands in the DACH region, describes the current challenges—especially in light of increasing regulation—and derives concrete positioning strategies from this. We orient ourselves on the proven principles of Ries & Ries and analyze opportunities and risks for providers such as Relai, Coinfinity, and Pocket Bitcoin.

Current Market Observation: Regulatory Pressure and Internal Challenges

Regulatory pressure in the European financial and crypto sector is rising massively, primarily due to the introduction of the MiCAR regulation ("Markets in Crypto-Assets Regulation"). For many small and medium-sized Bitcoin-only providers, this means enormous organizational and financial effort, which is often underestimated. The MiCAR license is becoming a central competitive advantage, but obtaining it is complex and expensive.

Many players are currently struggling with the organizational implementation of the new regulatory requirements. This leads to delays, organizational stress, and ultimately the risk of losing market opportunities to more agile competitors.

Competitive Dynamics in the Bitcoin-Only Segment

Relai Holding AG

Relai pursues an aggressive pricing strategy and primarily targets its direct market competitor Pocket Bitcoin with lower fees.

However, Relai largely lacks a clear, well-thought-out, and consistently communicated positioning. This is reflected in uncoordinated messages and a focus on simple user-friendliness without clear differentiation beyond fees.

Coinfinity GmbH

Coinfinity suffers from inconsistent communication and positioning. In various channels, the company sends different messages: sometimes as a partner for institutional investors, sometimes as a wealth management provider, and sometimes as a Bitcoin savings plan provider. Despite a visually appealing and professional external appearance, this inconsistency leads to confusion about self-perception and makes clear market differentiation difficult.

Pocket App AG

Pocket, with the smallest team and lowest revenue among the mentioned companies, still seems to be searching for its clear positioning. The dedicated focus on “Not your keys, not your coins” and the community-oriented attitude are strong, but there is still a lack of scaling and clear unique selling points that go beyond the technical purist niche.

This dynamic exemplifies how important a stringent and consistently maintained positioning strategy is for Bitcoin-only providers in the DACH region—especially in a market with increasing regulation and strong competition.

Detailed Analysis: Positionings of the Leading Bitcoin-Only Providers in the DACH Region

Criterion / Provider	Relai (relai.app)	Coinfinity (coinfinity.co)	Pocket Bitcoin (pocketbitcoin.com)
Positioning	TAKE CONTROL OF YOUR FUTURE	From today, you start saving in Bitcoin.	Buy Bitcoin – into your own wallet
Core message	“Bitcoin for everyone – simple, fast, affordable”	“Buy, store, and understand Bitcoin securely”	“Not your keys, not your coins – sovereign from the start”
USP	Low fees, no KYC up to certain limits, Swiss regulation as a trust anchor	Personal consultation, comprehensive onboarding services, strong educational focus	Direct transfer to users' own wallet, focus on security and self-sovereignty, strong ties to the Bitcoin community
Target groups	Broad demographic appeal, beginners and millennials who want to save in Bitcoin with minimal effort	High-net-worth individuals, family offices, institutional investors, especially in the Austrian home market	Tech-savvy, self-custody-oriented Bitcoin purists
Strenghts	Price leadership, simple mobile app	High consulting quality, established market presence	Clear technical positioning, strong community grounding
Weaknesses	Lack of clearly differentiated narrative positioning beyond fees, risk of being confused with other providers due to unclear communication	Inconsistent communication (varying positioning across different channels), weakening of brand core due to shifting messages	Limited scalability, weak financial resources, as yet unclear positioning development

Differentiation from Multi-Coin Platforms

In contrast to Bitcoin-only providers, multi-coin platforms focus on:

A broad selection of assets with hundreds of cryptocurrencies
Short-term trading and speculation opportunities
High volatility and often riskier compliance models
Growth through volume and product diversity

Bitcoin-only providers clearly differentiate themselves through:

A focus on long-term wealth preservation with Bitcoin as “digital gold”
Clear, simple, and transparent communication without distractions from altcoins
Emphasis on education, user empowerment, and sovereignty
Stable, regulatory-compliant, and trustworthy infrastructure

Positioning Strategies According to Ries & Ries: Options for Bitcoin-Only Brands

1. Offensive Strategy

A direct attack on the multi-coin giants (Binance, Kraken) makes little sense for Bitcoin-only providers due to fundamentally different business models. Direct competition is limited, as target audiences differ significantly.

2. Defensive Strategy

Defending the Bitcoin-only niche through:

Expansion of educational offerings and development into a "Trusted Educator" in the Bitcoin space
Emphasis on regulatory trust anchors (e.g., Swiss location, strong compliance frameworks)
Strengthening community engagement via events, local networks, and brand ambassadors

3. Flanking Strategy

Tapping into new target groups and market segments, such as:

Wealthy, conservative savers looking to use Bitcoin as inflation protection and a store of value
Entrepreneurs and SMEs with Bitcoin treasury strategies
Partnerships with tax advisors, family offices, and financial consultants

4. Bypass Strategy

Entering new market fields beyond traditional Bitcoin buying and saving:

Bitcoin-backed loans and financial products
Vertical integration from purchase and custody to advisory and tax optimization
Development of Bitcoin-based retirement products and professional custody services

Still Unclaimed Positioning Fields in the DACH Region

Bitcoin for SMEs: Treasury management, accounting, consulting
Bitcoin Private Banking: Exclusive, tailored advice for HNWIs and family offices
Bitcoin Retirement Planning: Tax-optimized savings plans for long-term wealth building
Bitcoin Education & Certification: Qualified training for tax advisors, financial consultants, and institutions
Institutional Custody Solutions: Secure custody and compliance for large investors

Recommendations for Action for Bitcoin-Only Providers in the DACH Region

Create Clarity: Radically sharpen the core message and maintain consistent positioning against multi-coin providers.
Strengthen Regulatory Competence: Use MiCAR approval and compliance as a trust anchor.
Consistent Communication: Deliver unified and clear messages across all channels, avoiding contradictory positioning.
Education as Differentiation: Expand educational offerings and knowledge transfer as a hallmark of the brand.
Form Partnerships: Collaborate with traditional financial players and advisory networks to tap into new customer segments.
Community Engagement: Foster ties with Bitcoin purists and build ambassadors as brand advocates.

Conclusion

Positioning as a Bitcoin-only brand in the DACH region is a strategic decision with high differentiation potential. Despite increasing regulatory and competitive pressures, there are diverse opportunities if providers clearly define and consistently pursue their positioning. The fragmentation of market communication among some players shows how dangerous unclear positioning can be.

Bitcoin-only is more than just the rejection of altcoins—it is a commitment to a clear, value-based vision that builds long-term trust. Those who follow this path with a clear strategy, disciplined communication, and a clear customer benefit can sustainably establish themselves in the DACH market.

Sources:

Strategic Marketing and Positioning
Ries, A. and Trout, J., 2001. Positioning: The Battle for Your Mind. New York: McGraw-Hill.
Ries, A. and Trout, J., 2006. Marketing Warfare. New York: McGraw-Hill.
Brandtner, H., ongoing. brandtneronbranding.com – Strategic Brand Management. [online] Available at: https://www.brandtneronbranding.com

Bitcoin-Only Providers in the DACH Region
Relai, ongoing. Relai Blog. [online] Available at: https://relai.app/blog
Coinfinity, ongoing. Coinfinity Newsroom. [online] Available at: https://coinfinity.co/news
Pocket Bitcoin, ongoing. FAQ and Information. [online] Available at: https://pocketbitcoin.com/faq

Regulation and MiCAR
European Commission, 2023. Markets in Crypto-assets Regulation (MiCAR). [online] Available at: https://finance.ec.europa.eu
BaFin – Federal Financial Supervisory Authority, ongoing. Crypto Market Supervision in Germany. [online] Available at: https://www.bafin.de
CMS Law, 2023. MiCAR: The New EU Crypto Regulation Overview. [online] Available at: https://cms.law/de/aut/news-information/micar-crypto-regulation

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