German Online Bank N26 Will Expand Crypto Trading

N26 Crypto, which launched in Austria at the end of last year, is now available to eligible customers in Germany, Switzerland, Belgium, Portugal, and Ireland, allowing them to purchase and trade around 200 cryptocurrencies through the N26 app.

Users only need to choose the coin and the quantity they wish to trade; the cash equivalent of the trade will be taken from their bank account while the coins will show in their N26 Crypto portfolio instantly. This feature is available in the 'Trading' section of N26's.

In collaboration with Bitpanda Asset Management, which oversees trade execution and coin safekeeping, N26 Crypto is made available. Customers of N26 Metal will be able to conduct transactions with a transaction charge of 2% for all other cryptocurrencies and 1% for trading bitcoin. For purchases of other cryptocurrencies, there will be a 2.5% cost for non-premium users and a 1.5% fee for purchases of bitcoin.

“Market fluctuations aside, cryptocurrencies continue to remain a requested and interesting asset class for investors and a growing part of the financial system. is often the entrypoint to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.” says Valentin Stalf, co-founder and co-CEO of N26.

Behind the scenes, Bitpanda, which handles trading and custody for digital assets, supports N26's cryptocurrency business. BitPanda, a retail broker for crypto assets with more than 30 cryptocurrencies, was established in 2014. The business claims to have more than 2.5 million members and has already begun expanding in France, Spain, and Turkey. The company also hopes to grow into real-world assets to provide a pan-European service.

The 2013-founded Berlin-based bank has received warnings from regulators for weaknesses in its anti-money laundering procedures. The bank claims that changes have been made.