German neobank N26 has partnered with Austrian crypto platform Bitpanda to expand its in-app crypto trading product to its customers in Germany, Portugal, Belgium, Ireland and Switzerland from €1 onwards.
The N26 Crypto was already rolled out in Austria late last year to enable N26’s customers to invest in a wide range of over 200 crypto assets.
Customers who have successfully completed N26’s identity verification and eligibility checks can access N26 Crypto from the “Trading” section within their N26 app’s new “Finances” tab.
To open a position, they simply need to select the coin and the amount they would like to trade, and the cash equivalent of the trade will be deducted from their bank balance, while coins will appear in their N26 Crypto portfolio instantly.
The same immediacy also applies when customers choose to close an open position in their N26 Crypto, with funds made available immediately in their main bank account the moment a position is closed.
Customers will be able to track their purchase history and portfolio development in real time. The transaction orders are also transparent with the fees to be reviewed and confirmed by the customers before each transaction is made.
The product will be made available progressively to eligible customers over the coming weeks effective 17 January.
Gilles BianRosa, Chief Product Officer at N26 said,
“The N26 banking experience has always been built around the customers’ needs, with features that make money management easy.
With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side – with cryptocurrencies being the first asset class we intend to offer.”
Valentin Stalf, Co-founder and Co-CEO of N26 said,
“Market fluctuations aside, cryptocurrencies continue to remain a requested and interesting asset class for investors and a growing part of the financial system.
Cryptocurrency trading is often the entrypoint to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.”
