The German online bank N26 announced (1) that it would expand its crypto currency trading to five more European nations.
N26 has just established N26 Crypto, a brand new trading effort for digital currencies, hoping it would acquire popularity throughout the West.
N26, a German Neobank, has announced that it will expand the availability of its N26 Crypto trading product to include the countries of Germany, Switzerland, Belgium, Ireland, and Portugal.
Because of this breakthrough, clients in these nations can now access more than 200 different digital currencies and trade them. The business said it would gradually implement the increased trading activity over the following weeks.
N26 promotes its N26 Crypto plan to premium subscribers as an added benefit of their membership. Customers participating in the N26 Metal initiative will have access to transaction costs for Bitcoin (BTC) that are as low as 1%. According to many reports, regular N26 subscribers would also have access to the service.
What Do the people at N26 Say?
Valentin Stalf, co-founder and co-chief executive officer of N26, shared his thoughts on the rise in popularity of crypto currency trading, stating:
"Despite the ups and downs of the market, crypto currencies continue to be a sought-after and exciting asset class for investors, and they are also becoming an increasingly important element of the financial system.
The trading of crypto currencies is frequently used as a point of entry into the world of investing for a new generation of investors interested in discovering new methods to increase their wealth.
After making its debut in Austria around the end of 2022, the crypto currency trading platform N26 decided to expand its operations to five other countries within the European Union (EU).
The German digital institution already has €6 billion in assets under management (AUM) and an established connection with Bitpanda, which is the current status of both factors. As part of this cooperation, N26 will be providing services to the asset management department of the Austrian crypto currency trading platform.
Executives of the firm claim that the banking experience provided by N26 is always based around the requirements of the customer. The platform for virtual banking has always given tools that assist straightforward management of one's financial resources. According to Giles BianRosa, chief product officer at N26, he stated:
The user interface of N26 Crypto was developed to be user-friendly and provides real-time trade records in addition to clear visual graphs. Officials of the organization may explain to consumers that they can correctly manage their portfolio performance.
How N26 Works?
Customers of the N26 app who complete all KYC background investigations will have access to the new 'Finance' page when it is released. To open a position, all that is required is the selection of the preferred token and the preferred trading amount.
After this stage, the app will deduct the amount of cash the trade is worth from the user's available balance. The trader's crypto currency portfolio will nearly immediately reflect the addition of the necessary coins.
The same terms and conditions apply when consumers cancel an active trade order in their N26 Crypto accounts. Whenever a trading position is closed, the relevant funds are immediately accessible in the customer's primary bank account.
N26 has integrated a drag-and-drop feature that can be used for any transaction to simplify and expedite the procedure even more.
The growth of N26 takes place when the sector is still reeling from the negative consequences of FTX's demise in November of last year.