German bank N26 launches its crypto trading tool

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

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

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The trading tool of the Bitpanda platform at N26

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

Initially, this service will be accessible only in Austria before being deployed 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 fairly quickly in France.

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

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

Users will be able to invest from the symbolic euro, and the platform is remunerated in this way:

  • 2.5% fee on all buy and sell transactions
  • 1.5% fee for Bitcoin transactions
  • 2% fee for N26 Metal customers
  • 1% fee for N26 Metal customers on Bitcoin
N26 crypto trading outing interface

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

Indeed, at the same time last year, the exchange was already signing a partnership with the French payment application Lydia.

The 8 million customers of the German bank parachuted into crypto

The neobank continues a striking journey.

Indeed, the German bank is valued at $9 billionand counts more than 8 million customers spread across Europe.

It’s hard not to be impressed with what 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 teens.

However, after gaining 50,000 customers within six months, the founders were quick to figure out what the demand needs.

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

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

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

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

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

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

On the other hand, there remains the following condition, that of converting and convincing N26’s customers to go to the other side of the barrier.

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