Key points:
- N26 Launches N26 Crypto Service
- N26 Crypto Service Fees
- Initial Austrian Launch with Bitpanda Will See A Following Roll Out To Other Markets
The German challenger bank, N26, has made a foray into the world of cryptocurrency trading with the launch of N26 Crypto. The service has been established with the cryptocurrency trading app, Bitpanda, with an initial offering in Austria. Plans are to roll out this service over the next six months to other markets.
N26 Launches N26 Crypto Service
N26, the German disruptor bank has launched a cryptocurrency service. The offering will allow N26 customers to trade nearly 200 digital currencies. The new service is monikered N26 Crypto and has been brought to the market in association with crypto custodian Bitpanda.
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Valentin Stalf, N26 co-founder and Co-CEO, has stated: “While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class for investors and a growing part of the financial system.”
N26 Crypto Service Fees
On all cryptocurrency orders, N26 is charging a 2.5% fee, apart from Bitcoin (BTC), for which it has a lower transaction fee of just 1.5%. For subscribers to the N26 Metal account (which comes with a fee of EUR 16.90 month), the transaction fee is lowered to 2% for all cryptocurrency tokens, apart from BTC which is at 1%.
Chief Product Officer at N26′s, Gilles BianRosa has said that the bank’s new crypto tarding service allows users to “dip their toes into the water in a way that’s not frothy.” He went on to add, “Our users are extremely interested in crypto,” and “that interest remains super high, even in a bear market.”
Initial Austrian Launch with Bitpanda Will See A Following Roll Out To Other Markets
The N26 crypto platform is provided by a partnership with the Austrian stock and cryptocurrency trading app, Bitpanda. Bitpanda manages the custody of coins and trade execution. The platform will be rolled out in Austria initially, before being expanded to other significant markets over the following six months.