Mobile bank N26 launches cryptocurrency trading with Bitpanda partnership

The $9 billion German fintech N26 has launched cryptocurrency trading on its mobile app. Starting in Austria and rolling out to other countries in the coming months, N26 Crypto will allow its customers to buy and sell 200 cryptocurrencies, including Bitcoin and Ethereum. 

The Berlin-based fintech company said on Oct. 20 that the launch in Austria addressed “strong local demand,” with 40 percent of N26 users either actively trading or showing interest in investing in cryptocurrencies. Over the next six months, N26 plans to roll out its cryptocurrency trading services to other major markets.

Customers who have passed N26’s identity verification and eligibility checks can access N26 Crypto through the “Trading” part of their N26 app’s new “Finances” menu. To start a position, users just choose the currency and the amount they want to trade, and the cash equivalent of the deal will be withdrawn from their bank balance, while coins will appear instantaneously in their N26 Crypto portfolio. 

The same sense of urgency applies when consumers opt to end an open position in their N26 Crypto, with monies accessible in their main bank account the instant a position is closed. Drag and drop capability is offered for both transaction types to make the procedure even easier.