Can I buy Bitcoin or Crypto with Nubank?
Similar to most major Brazilian and South American banks, Nubank does not offer a cryptocurrency feature through their online platform. Nubank also doesn't provide any custodial services for Brazilian and South American investors to securely hold their coins with the bank.
However, Nubank is a crypto-friendly bank in Brazil and they allow their customers to deposit and withdraw Brazillian Real's (BRL) into platforms that are licensed and regulated by the Central Bank of Brazil. Nubank can deposit BRL to exchanges like OKX via Bank Transfer and Credit/Debit Card.
How to buy Bitcoin with Nubank in Brazil
The easiest way to buy Bitcoin and Crypto with Nubank in Brazil is through a crypto trading platform like OKX. They offer fast and cheap BRL deposits from Nubank via Pix, Credit Card, Debit Card, Bank Transfer, Mercadopago, PicPay, Google Pay or Maestro. Follow the below steps to get started.
- Create an account on OKX and complete your verification.
- Select the 'Buy Crypto' tab in the navigation menu and click 'Third-party Payment'.
- Select BRL and the token you want to buy, then choose 'Foxbit' as your Service Provider.
- Input the amount you want to buy and finalise your PIX bank transfer. The crypto will arrive in your OKX wallet in 2-10 minutes.
Is Nubank Crypto Friendly?
Nubank is a leading fintech company in Latin America that is forward-thinking when it comes to digital banking and related technologies. Despite not offering crypto-related products on their app, they are positive towards the asset class and are ultimately a crypto-friendly bank.
This means that Nubank customers will have no issues transferring Brazilian Real (BRL) from their account onto licensed and regulated trading platforms. That said, we recommend avoiding off-shore exchanges that do not have regulatory clarity like Binance and stick to highly regarded exchanges like OKX.
What is Nubank?
Nubank is a Brazilian financial technology company founded in 2013. The firm has over 30 million customers and is the largest neobank in Latin America. It's headquartered in São Paulo, Brazil. Nubank has received over $1 billion in funding from investors such as Sequoia Capital, DST Global, Tencent Holdings, Ribbit Capital, and TCV.
Nubank's services are available through its app, which can be downloaded from the App Store or Google Play. Nubank does not have physical branches. Nubank is licensed and regulated by the Central Bank of Brazil.
How Nubank Works
Nubank's no-fee credit card works like any other credit card, but it doesn't have any of the traditional fees associated with credit cards. This means that Nubank doesn't charge annual fees, late payment fees, or foreign transaction fees. Instead, Nubank makes money by charging interest on outstanding balances and by earning revenue from the merchants who accept Nubank cards.
Its mobile app is designed to help users manage their finances and understand their spending patterns. The app gives users real-time insights into their spending, shows them where they can save money, and helps them stay on top of their bills. Nubank also has a program called Nubank Rewards, which gives cash back rewards for shopping at certain stores.