Summary: Nuri Bank offers a cryptocurrency trading feature directly through its online banking platform; however, its fees are over 1% per trade. This is considered extremely high and is above the industry average. We recommend using secure third-party digital currency trading platforms to avoid the high fees charged on Nuri Bank.
We have thoroughly assessed the country's leading platforms and concluded that Bybit is the best option for German investors. Bybit offers free EUR deposits to Nuri Bank customers and a low 0.1% on crypto trades, making it the cheapest way to buy cryptocurrencies like Bitcoin and Ethereum. In addition to trading, users can also stake, borrow and loan tokens on Bybit for high APY.
- Free and instant Euro (EUR) deposits from any German Bank.
- Trade 300+ Cryptocurrencies with fees starting from a low 0.1%.
- Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Get 5% off trading fees.
Can you buy Crypto with Nuri Bank?
As mentioned above, we recommend avoiding the Nuri Bank (formerly Bitwala) as it only offers Bitcoin and Ethereum trading, plus its fees are higher than industry standards at over 1% per transaction. The best way to buy crypto is through a secure digital asset exchange in Germany. If you use a cryptocurrency trading platform, you will have access to hundreds of tokens with low fees.
How to Buy Bitcoin and 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 use to deposit Euros.
- Complete the transaction, and the funds will arrive in your account immediately.
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Nuri Bank Cryptocurrency Policy
As the bank offers cryptocurrency directly through its platform, it is safe to say it is a crypto-friendly institution. Nuri does not block or freeze transactions to secure digital asset exchanges. The only instance in which your transaction would be halted is if you are transferring funds to a compromised and dangerous platform.
About Nuri Bank
Nuri Bank is a digital bank that offers interest accounts, crypto trading and crypto-backed loans to European users. It's a regulated financial institution in Germany and holds a license under the German Banking Act to operate as a payment service provider. The company was founded in 2015 by Jorg von Minckwitz and Jan Goslicki from their headquarters in Berlin, Germany.
The 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
In conclusion, we suggest using a cryptocurrency exchange over Nuri to avoid the high fees and limited selection the bank offers. After comparing the top trading platforms in Germany, our team has determined that Bybit is the number one choice thanks to its low fees, a wide selection of tokens, user-friendly interface and German-speaking support.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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