German Neobank N26 unveils a brand new crypto buying and selling product “N26 Crypto”. With N26 customers in Austria would be the first to have the ability to make the most of the product and it’ll slowly launch to prospects in Europe within the upcoming months.
According to the announcement, N26 customers will quickly have the ability to commerce roughly 200 cryptocurrencies due to the brand new characteristic.
“The launch addresses strong local demand, where 40% of N26 users are either actively trading, or have expressed interest in investing in cryptocurrencies,” the assertion famous.
Over the course of the following six months, N26 will step by step introduce N26 Crypto to different nations. N26 partnered with Austrian cryptocurrency trade Bitpanda to launch N26 Crypto.
With this collaboration, prospects of N26 Metal will have the ability to conduct transactions with a 1% transaction cost for buying and selling Bitcoin and a 2% transaction charge for buying and selling all different cryptocurrencies.
All different N26 customers will have the ability to commerce cryptocurrencies on the identical aggressive charges accessible immediately on Bitpanda’s platform: 1.5% for Bitcoin transactions and a pair of.5% for all different cryptocurrencies.
N26 customers who’ve handed identification verification and eligibility checks by N26 can entry N26 Crypto by the “Trading” part beneath the brand new “Finances” part of their N26 app.
They solely want to decide on the coin and the amount they want to commerce with a view to create a place; the financial equal of the commerce will then be taken from their checking account, and the cash will then seem instantly of their N26 Crypto portfolio.
Users can decide to shut open positions of their N26 Crypto at any time, and after they do, cash is instantly made accessible of their main checking account.
Additionally, N26 Crypto presents easy visuals of a consumer’s cryptocurrency holdings, making it easy to comply with the portfolio’s evolution over time.
N26 customers will achieve from an easy-to-understand transaction order with charges to be checked and confirmed earlier than every transaction is executed, along with having the ability to watch their buy historical past and portfolio growth in actual time.
Gilles BianRosa, Chief Product Officer at N26, said “With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side – with cryptocurrencies being the first asset class we intend to offer.”
Compiled by Coinbold