Key Takeaway: Nubank does not directly offer cryptocurrency trading services for customers in Brazil and South America. Instead, customers will need to deposit Brazillian Real (BRL) into licensed digital asset trading platforms from their Nubank accounts.
If you are looking to get started quickly, we recommend the eToro Brazil trading platform. It regulated and trusted by over 18 million users throughout South America and abroad.
- Fast and Cheap BRL deposits from Nubank accounts.
- 80+ Cryptos and over 8,000 Stocks, ETFs & Commodities and more.
- Licensed and Regulated multi-asset trading platform in Brazil.
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Can I buy Bitcoin or Crypto with Nubank?
Unfortunately, Nubank does not offer any Bitcoin or Crypto trading services that allow customers to trade directly from their online banking application. Nubank also doesn't provide any custodial services for Brazillian 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.
How to buy Cryptocurrencies with Nubank in Brazil
The easiest way to buy Bitcoin and Crypto with Nubank in Brazil is through a regulated trading platform like eToro. They offer fast and cheap BRL deposits from Nubank accounts to trade over 65 digital assets and thousands of Stocks, ETFs, Commodities, Options, Forex, and much more.
You can get started buying Bitcoin with Nubank in 5 simple steps:
- Sign up to the eToro trading platform.
- Select the 'Deposit Funds' button at the bottom of your eToro dashboard.
- Select 'Bank Transfer' and 'BRL' to connect your Nubank account.
- Log in to your Nubank online account and deposit BRL to the unique deposit details provided to you by eToro. Note the BRL will be exchanged for USD to trade on the platform.
- Once the USD lands in your account, you can buy or sell any asset listed on the platform.
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 Bybit or Binance and stick to highly regarded exchanges like eToro.
What is Nubank?
Nubank is a Brazilian financial technology company founded in 2013. The firm provides digital banking services, including credit and debit cards, personal loans, and investment products. Nubank has over 30 million customers and is the largest neobank in Latin America.
Nubank was founded by David Vélez, Edward Wible, and Cristina Junqueira. The company is 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.
Nubank's 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.
The digital bank is available in Brazil and Mexico and plans to expand to other countries in the future.