Summary: N26 Bank streamlines the journey into digital currency investment by offering direct purchase options for cryptocurrencies, including Bitcoin and Ethereum, through its mobile app. While N26 charges fees on the higher end of the spectrum, exceeding 2% for these transactions, the convenience of an integrated platform may appeal to some users.
For N26 customers seeking more cost-effective alternatives, platforms like eToro emerge as attractive options. Regulated by reputable entities such as the FCA, eToro provides access to over 3,000 digital assets, including cryptocurrencies, stocks, and ETFs. Its competitive fee structure and multiple deposit options make it a compelling choice for those looking to venture into the digital asset market.
- Regulated by multiple European authorities and trusted by 30 million investors.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Fast and low-fee deposits via Bank Transfer, SEPA, Debit Card, Credit Card and more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Buy Bitcoin with N26 Bank?
Yes, N26 Bank facilitates the purchase of Bitcoin directly within its app, making it accessible to users interested in exploring digital currencies. However, it's noteworthy that the fees associated with these transactions are relatively high, often exceeding 2%. While N26 offers the convenience of buying Bitcoin and other cryptocurrencies through its platform, users seeking more economical alternatives might consider regulated exchanges in Europe outside the app.
How to Buy Crypto with N26
For N26 Bank account holders eager to explore Bitcoin, Ethereum, or other cryptocurrencies, there are straightforward and secure methods available. A highly-recommended exchange, which complies with European standards and boasts a diverse portfolio of over 3,000 digital assets, is eToro. Making Euro transfers is seamless, with options including direct bank transfers, credit cards, SEPA, Sofort and more.
You can follow this simple guide to get started in minutes:
- Sign Up: Start by registering on eToro and complete all essential identity verifications.
- Determine Currency: After logging in, navigate to the "Deposit Funds" section. Opt for EUR as your currency of choice and decide on a payment method.
- Initiate Transfer: Conclude by moving your chosen amount from your N26 Bank account over to eToro.
- Purchase Crypto: Utilize the search function to pinpoint the cryptocurrency you're interested in, then finalize your buy order to incorporate it into your holdings.
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N26 Cryptocurrency Policy
N26 Bank paves the way for its clients to delve into the dynamic realm of cryptocurrencies. The bank facilitates the smooth transfer of Euros to certified cryptocurrency exchanges, establishing a bridge between the conventional banking system and the innovative cryptocurrency sector.
For patrons of N26, particularly those within the European Union, it is imperative to select a trading platform governed by authoritative financial regulators like the German Federal Financial Supervisory Authority (BaFin), CySEC or other comparable European entities. This ensures that the chosen exchange meets stringent safety and compliance criteria, providing a more trustworthy and secure investment path.
Digital Asset Investing Fees
When considering the journey into cryptocurrency investments through N26 Bank, it's critical to grasp the associated fee framework. Here's what you need to know:
- Deposits: N26 doesn't impose charges for Euro transfers via SEPA bank transfers. But, if you engage with exchanges operating in different currencies, conversion fees might apply. Transactions executed through debit or credit cards attract a fee, typically around 2.5%.
- Trading Spreads: On esteemed exchanges, the spread for cryptocurrencies tends to hover around 1%. The spread represents the difference between the buying and selling prices; a slimmer spread usually signifies more economical trading.
- Withdrawals: Insights suggest that when you transfer Euros back into your N26 account from a crypto exchange, the fee generally caps at around €5.
By utilizing N26's offerings, particularly with exchanges under the scrutiny of esteemed financial regulators such as the German Federal Financial Supervisory Authority (BaFin), you can anticipate swift transactions, equitable fee structures, and a variety of payment alternatives.
About N26 Bank
N26 Bank revolutionizes the banking experience with its user-friendly, fully mobile platform trusted by over 8 million customers across 24 markets. Holding a full German banking license, N26 ensures a high level of security, up to €100,000 under EU directives, and offers innovative features like real-time notifications, virtual cards, and 24/7 support. The bank simplifies finance management through tools like Spaces for goal-oriented saving. N26's commitment to hassle-free, digital-first banking, coupled with multilingual customer support, makes it a preferred choice for modern banking needs.
Bottom Line
In conclusion, N26 Bank offers a convenient, albeit pricier, entry point into cryptocurrency investment through its mobile application. For those prioritizing ease of use, N26’s integrated platform might justify the higher transaction fees. However, cost-conscious investors might find better value in exploring external exchanges like eToro. With its robust regulatory framework and competitive fee structure, eToro stands out as a secure and efficient gateway to the wider world of digital assets.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
