German bank N26 launches its crypto trading tool

Updated on October 21, 2022 at 12:49 p.m.

The German neobank opens the doors to the cryptocurrency market with its trading tool. Its customers will be able to buy and sell digital assets directly on the platform.

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The trading tool for the Bitpanda platform on N26

The German bank is partnering with European exchange Bitpanda to develop its crypto trading tool.

Initially, this service will only be available in Austria before being implemented in other European countries.

Remember, but the Bitpanda exchange owns the famous PSAN (Digital Asset Service Providers), so in our humble opinion, the trading tool will be available in France quite soon.

The offer of this service will reach more than 200 cryptocurrencies. The essentials will actually be there, such as Bitcoin and Ethereum.

Other more volatile values ​​such as Doge and Shiba Inu will also be present.

Users will be able to invest from the token euro and the platform will be rewarded like this:

  • 2.5% fee on all purchase and sale transactions
  • 1.5% fee for Bitcoin transactions
  • 2% fee for N26 Metal customers
  • 1% fee for N26 Metal customers on Bitcoin
N26 interface for crypto trading excursions

Bitpanda hits hard by taking a step closer to the traditional financial world and operates as a white label with the German bank.

At the same time last year, the exchange already signed a partnership with the French payment application Lydia.

The 8 million customers of the German bank parachuted into crypto

Neobanken continues a striking journey.

The German bank is rated at 9 billion dollarsand count more than 8 million customers spread across Europe.

It’s hard not to be impressed by what the N26 has accomplished in such a short time.

In 2013, co-founders Valentin Stalf and Maximilian Tayenthal launched the company as a payment app for teenagers.

However, after gaining 50,000 customers within six months, the founders were quick to find out what the demand calls for.

This is where the concept of the neo-bank was born:

A digital bank based on technological innovations, accessible only through a mobile application

Today, thanks to these technological innovations, they have changed the way millions of customers manage their money.

Despite these innovations, the German bank’s losses amounted to 172 million euros in 2021, up 14% year-on-year. .

In fact, the neo-bank had to invest heavily in the regulatory aspects after being reprimanded by European regulators.

A new opportunity emerges for the cryptocurrency market with this breath of fresh air.

On the other hand, there is still the following condition, which is to convert and convince N26’s customers to go to the other side of the barrier.

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