N26 launches cryptocurrency trading product, N26 Crypto, in Spain (2024)
The online bank will offer clients the opportunity to buy and sell almost 200 cryptocurrencies at a time when investor enthusiasm has returned to the crypto asset market
The new product brings cryptocurrency investments to retail investors through the security, transparency and simplicity of the N26 banking experience
Having introduced savings with interest and become a collaborating entity with the Social Security system in the last year, N26 continues to expand its services and product portfolio in Spain to adapt to the needs and interests of its customers
The online bank N26 announced today the launch of its cryptocurrency trading product, N26 Crypto, in Spain, which will allow its local clients to buy and sell close to 200 cryptocurrencies directly in their N26 App. With N26 Crypto, the bank offers eligible customers interested in investing in this asset class one of the largest selection of cryptocurrencies available in a banking app worldwide through the security, transparency and simplicity of the N26 banking experience.In 2022, Austria was the first country where the online bank launched N26 Crypto, followed by Germany, Belgium, Ireland, Portugal and Switzerland at the beginning of 2023. Today, the product arrives to the Spanish market at a time when investor enthusiasm has returned to the crypto asset market. The recent approval in the United States of the first Bitcoin ETFs, the surge of the leading cryptocurrencies in 2023, the approval of MiCA (Markets in Crypto Assets Regulation) in April 2023, and the upcoming Bitcoin halving (expected in April 2024) are some of the milestones that will mark the course of the market in 2024.Pablo Reboiro, General Manager for Spain and Portugal: “The N26 banking experience has always been built around customers’ needs, with features and services that aim to simplify money management within one single space. With N26 Crypto, we offer a simple way to invest, with great user experience and transparency. One of the main characteristics of cryptocurrencies is that their prices are volatile, this is something that every investor must know and take into account before investing. However, it’s a highly demanded and relevant asset class for retail investors and often the entrypoint to investing for a new generation of investors. We want our clients to be the protagonists of their financial decisions and invest safely within the N26 ecosystem”.Investing in a simple and transparent wayIn addition to the smooth and secure sign-up process, the new product also guarantees clients maximum transparency in fees and in the purchase and sale of coins, as well as a clear visualization of their crypto portfolio, making it easy to track the portfolio’s development over time. N26 Metal customers, the bank’s most premium tier, will be able to make transactions with a 1% transaction fee applied for trading Bitcoin and 2% for all other available cryptocurrencies. All other N26 customers will be able to trade Bitcoin with a 1.5% transaction fee and a 2.5% fee for other cryptocurrencies.N26 Crypto includes some engaging functionalities for both expert traders as well as for clients that are taking their first steps in the world of investments. With Top Movers, users can track the 20 coins that have shown the highest increases or decreases in the last 24 hours. And with Watchlist, crypto investors have the option of following their favorite coins closer. In addition, clients can activate push notifications for coins included in their Watchlist. N26 users that choose to invest using N26 Crypto have a limit of 200 trades within 24 hours and can buy and sell with a minimum trade amount of 1 euro for all coins.In addition to providing an easy and intuitive user experience to help make the complex nature of trading cryptocurrencies as seamless as possible, N26 also offers useful and relevant content to inform and empower customers exploring the asset class for the first time, including articles and posts about cryptocurrencies on its corporate blog.N26 Crypto is offered in partnership with Bitpanda GmbH. The Austrian fintech manages the execution of trades and custody of coins.
About N26N26 is Europe’s leading digital bank with a full German banking license. It offers simple, secure and customer-friendly mobile banking to millions of customers in 24 markets across Europe. N26 processes over 100bn EUR in transactions a year and currently has a 1,500-strong team of more than 80 nationalities. The company is headquartered in Berlin, with offices in multiple cities across Europe, including Vienna, Paris, Milan and Barcelona. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.Website: n26.com | X: @n26 | Facebook: facebook.com/n26 | YouTube: youtube.com/n26bankN26 Press Contact[email protected]
Welcome to a new kind of crypto experience that's convenient and intuitive. Located right next to your cash, you can now trade crypto in your N26 banking app. No confusion, no waiting times, and no need to download a new app — trying crypto couldn't be easier.
Buying crypto doesn't need to be costly. You only need €1 to get started and with N26 Crypto, you'll pay 1.5% in fees on Bitcoin and 2.5% on other cryptocurrencies.
The online bank N26 announced today the launch of its cryptocurrency trading product, N26 Crypto, in Spain, which will allow its local clients to buy and sell close to 200 cryptocurrencies directly in their N26 App.
With the N26 Standard, N26 Business and Smart account, there's a fee of 1.7% of the withdrawal amount. This fee is waived for N26 You, Business You or N26 Metal and Business Metal members. Using your Maestro for ATM withdrawals. A €2 fee applies to both domestic or international withdrawals.
The following limits apply to trading crypto on N26: A €50,000 limit on daily transactions by Personal customers. A €100,000 limit on daily transactions by Business customers. 200 trades within 24 hours, per user.
In simple terms, this means that N26—as a bank—needs to act in line with laws that exist to combat illegal activities such as money laundering, financing terrorism, tax fraud, and abusive or fraudulent use of the account. In these cases, access to an N26 account may be restricted, or the account may be closed.
N26 is a fully licensed German bank. That means we have the same security regulations as any other bank. It also means your funds are protected up to €100,000 by the German Deposit Protection Scheme.
You can turn your cash into crypto, or vice-versa, in a flash with N26 Crypto. Thanks to our partner Bitpanda, a registered digital assets service provider, you can buy and sell almost 200 coins right from your N26 app. Plus, all of your crypto transactions are processed in an instant.
Best of all, sending and receiving instant bank transfers is 100% free for premium customers, and only costs €0.99 to send for N26 Standard customers. No delays. No waiting. No problem.
Cryptocurrencies are largely unregulated in Spain, but the government has outlined rules for companies that address advertising, taxation, compliance with AML policies, and the designation of crypto assets. Royal Decree 7/2021 regulates custodian services and crypto-to-fiat currency exchange.
In Spain, cryptocurrencies are considered digital assets, subject to capital gains tax, with progressive rates from 19% to 28%. In addition, mining is taxed as income from economic activities. Keep detailed records and consult with a professional if necessary to ensure tax compliance.
The N26 free bank account lets you withdraw cash from any ATM for free, up to 5 times a month. And there's also another way to get cash that doesn't involve ATMs at all.
Yes, you can convert cryptocurrency to cash (like USD or INR) using various methods. Popular options include cryptocurrency exchanges, peer-to-peer marketplaces, and Bitcoin ATMs. Always choose a reputable platform and be aware of potential fees and withdrawal times when converting your crypto holdings to cash.
Selling crypto to your debit card usually involves using a crypto exchange or wallet service that offers withdrawals, selling your crypto for fiat currency on the platform, and then withdrawing money to your linked debit card.
Introduction: My name is Neely Ledner, I am a bright, determined, beautiful, adventurous, adventurous, spotless, calm person who loves writing and wants to share my knowledge and understanding with you.
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