The Mobile Bank N26 today announced the launch of its new cryptocurrency trading product. Already available in 7 of its 24 European markets, N26 Crypto will launch in France to all eligible customers in France (with a French or a German IBAN) and across all membership subscription tiers. A few months after launching its French local Iban, N26 will allow its eligible customers to be able to instantly buy and sell nearly 200 cryptocurrencies in their N26 application. At no additional cost, this product will also be open to all customers, even those with a free account, with the transparency, simplicity and agility that make N26 a pioneer for digital banking in Europe.
N26 General Manager France & Benelux, Jérémie Rosselli said: “Last summer, we installed our local French Iban to be able to accelerate the deployment of the global banking offer that we want to provide to our approximately 3 million customers in France.With this, customers can go beyond managing their money simply and intuitively on their smartphone to also invest within the N26 ecosystem. With N26, they will be supported with the right information and necessary warnings because any investment is also a risk that must be evaluated. This is the first step we are taking, with more planned innovations in the investment space to come.”
As simple and transparent as it is secure to manage on a daily basis Customers will be able to get a clear overview of their cryptocurrency portfolio in its dedicated section within the app. The section will exhibit the full range of coins available to buy and sell, with one of the largest selections of available coins to trade in a banking app globally. On top of being able to track their purchase history and portfolio development in real time, customers will also benefit from an easy-to-understand transaction order with fees to be reviewed and confirmed before each transaction is made. In addition to providing an easy and intuitive app experience to help make the complex nature of trading cryptocurrencies as seamless as possible, N26 also offers access to a range of informative content to empower those exploring the asset class for the first time. Customers who have completed N26’s identity verification checks can access N26 Crypto from a new Trading section within their N26 app’s new Finances tab. Customers will be able to make their first transaction and create their crypto portfolio after a quick eligibility check, which will be conveniently located right next to their main bank account and Spaces sub-accounts. To open a position, customers need simply to select the coin and the amount they would like to trade, and the cash equivalent of the trade will be deducted from their bank balance, and coins will appear in their N26 Crypto portfolio instantly. The same immediacy also applies when customers choose to close an open position in their N26 Crypto, with funds made available immediately in a customer’s main bank account the moment a trading position is closed. To make the process even more seamless, drag and drop functionality is available for both transaction types.
N26 Crypto is offered in partnership with Bitpanda GmbH, which manages the execution of trades and custody of coins. Together, both fintech pioneers have come together to offer a competitive new pricing model based on Bitpanda’s terms and conditions. N26 Metal customers will be able to make transactions with more favorable terms, with a 1% transaction fee applied for trading Bitcoin and 2% for all other available cryptocurrencies. All other N26 customers will be able to trade Bitcoin with a 1.5% transaction fee, and a 2.5% fee for other cryptocurrencies.
As N26 Crypto is fully integrated into the N26 digital banking experience, individuals without an N26 account must first sign up to open an account and complete their digital identity verification in order to be able to buy and sell cryptocurrencies with the feature.
For more information on N26 Crypto, please visit here
As a reminder, digital assets present a risk of total or partial loss of capital due to the specific volatility of digital asset prices and due to cybersecurity risks. A return equal to the money spent is not guaranteed and a complete loss of the money spent is possible at any time. Past performance is not a reliable indicator of future performance. Make sure you have sufficient knowledge before proceeding with any transaction.The returns depicted are fictional and for illustrative purposes only. The illustration and statements do not constitute investment advice.
