Crypto trading is now available in the N26 app

This is what awaits you in this article

In the N26 app, customers have so far been able to conveniently manage their online banking while on the move. Although opinions sometimes differ about N26, the bank always brings something new to the market. This time it’s crypto trading: from January 17, 2023, you can also trade cryptocurrencies in the N26 app. According to N26, almost 200 cryptocurrencies are available for trading. Previously, crypto trading had already been introduced in Austria. The new feature will now be launched in Germany, Switzerland, Belgium, Portugal and Ireland.

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How can you trade with Bitcoin and Co. in the N26 app?

To participate in crypto trading, your identity and eligibility must be verified. Only then can you access N26 Krypto in the N26 app via the “Trade” section of the “Finance” tab. To open a position, simply select the coin you want to trade and enter the desired investment amount. The value of the trade will be deducted from your bank balance. The coins should then appear instantly in the crypto portfolio. Even if you decide to close a position, we want it to go smoothly so that the money is immediately available in your main account again. Both transactions can be performed as drag-and-drop.

Almost 200 coins can be traded

According to its own information, N26 offers one of the largest product universes that can be traded in a banking app with almost 200 coins. In terms of design, the bank focuses on clarity: investors must be able to use the app to track the purchase history and development of their portfolio over the long term and in real time. You must check and confirm the resulting fees as part of an understandable order processing for each transaction.

“For a new generation of investors looking for ways to grow their wealth, trading cryptocurrencies is often the way to start investing,” said Valentin Stalf, CEO and co-founder of N26, according to the press release. Despite market fluctuations, cryptos are a popular asset class with increasing importance in the financial system. “N26 Crypto offers an easy way to trade and invest – with a great user experience and low, transparent fees.”

N26 is also targeting new customers in the crypto sector. The smartphone bank also wants to offer “useful and relevant educational content” to help and inform newcomers who are new to cryptoassets.

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Fintech partnership at low cost

Fintech Bitpanda Asset Management GmbH is responsible for trading and storing the coins. The partnership between the two fintechs aims to keep transaction fees low. Metal customers pay one percent for trading Bitcoin and two percent for all other available cryptocurrencies. However, these fees only apply to trade amounts up to EUR 5,000 per calendar month. All other trading fans can trade the cryptocurrency Bitcoin for a transaction fee of 1.5 percent and the other cryptocurrencies – the so-called altcoins – for a fee of 2.5 percent. In addition, there is the so-called dispersion in pricing, which traders should under no circumstances ignore.

Current account with N26 as a requirement

In order to use the N26 crypto trading business correctly, you must have a current account with N26. The standard current account is free, and you receive a digital card when you open it, which you can use to withdraw contactless cash three times a month at ATMs with NFC functionality. The physical N26 Mastercard costs you a one-time fee of ten euros.

  • free account management
  • withdraw cash for free from almost 12,000 partners with “Cash26”.
  • in the euro area: cash withdrawals with Mastercard are free
  • digital payment via Google or Apple Pay
  • only withdraw cash for free three times a month with Mastercard, after the 2 euro fee
  • Free cash withdrawals worldwide only possible with the premium models

N26 offers additional packages subject to a fee: “N26 You” for EUR 9.90 and “N26 Metal” for EUR 16.90 per month. The “N26 You” package includes a master debit card that can be used to withdraw cash worldwide for free and includes a number of insurance benefits.

With the “N26 Metal” account model, the customer receives a Mastercard made of metal – including free, worldwide cash withdrawals, comprehensive insurance benefits and preferred customer service. These premium accounts also offer the “Shared Spaces” feature: Here you can share sub-accounts with other N26 customers.

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