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Can I buy Crypto with Nuri Bank?
Nuri Bank (formerly Bitwala) is a popular new digital bank based in Germany that allows users to earn interest on EUR & GBP deposits, and buy and sell crypto directly through their app. The Nuri Crypto App only offers Bitcoin and Ethereum trading, and their fees are higher than industry standards at over 1% per transaction.
That said, if you want to buy crypto with Nuri bank - we suggest you deposit EUR from your Nuri account into an exchange. With this method, you will be able to avoid the high fees charged by Nuri and still get access to digital assets. We recommend using Bybit, as it is one of the few platforms that provide proof-of-reserves showing customer funds are held 1:1.
How to buy Crypto with a Nuri Bank Alternative
The easiest way to buy Cryptocurrencies from a Nuri Bank account is by depositing EUR into a secure exchange like Bybit. Their platform accepts EUR deposits from Nuri Bank via Debit Card, Wise, Revolut, Paysera, Google Pay, Maestro, SEPA, Bank Transfer or Credit Card. You can get started from your Nuri account with these four simple steps.
- Open a free account on Bybit with your email address (Bybit does not require ID).
- Pick 'EUR' as the fiat currency you want to use and find the crypto you want to buy.
- Select the deposit method you want to deposit Euros with (Wise, SEPA, Maestro etc).
- Complete the transaction and the funds will arrive in your account immediately.
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What is Nuri Bank
Nuri Bank is a digital bank that offers interest accounts, crypto trading and crypto-backed loans to users in Europe. The company was founded in 2015 by Jorg von Minckwitz and Jan Goslicki from their headquarters in Berlin, Germany. It's a regulated financial institution in Germany and holds a license under the German Banking Act to operate as a payment service provider.
Nuri Bank offers both fiat and cryptocurrency-backed loans to its users. Fiat-backed loans are denominated in Euros, while cryptocurrency-backed loans can be taken out in either Bitcoin or Ethereum. To qualify for a loan, users must first deposit collateral into their Nuri Bank account. Nuri Bank currently allows users to borrow up to 50% of the value of their collateral.
Final Thoughts
Nuri Bank is a good option for those who want to buy and sell Bitcoin and Ethereum, but its crypto app only supports two digital assets. If you're looking for more options and lower fees, we suggest using a secure exchange like Bybit that allows users to deposit Euros from their Nuri Bank account for free. With this method, you can easily buy Crypto without the high fees charged by Nuri Bank.
