N26 is a German-based $9 billion online bank with its headquarters located in Berlin. The bank has announced the launch of its custom crypto app to let users buy and sell different coins. The application will provide access to more than 100 different tokens amid the cryptocurrency bear market.
The list of tokens will include some major assets like Bitcoin and Ethereum as well as some less-known coins. The new online feature will initially be available only for Austrian customers. However, the bank officials will expand it to other countries in the next 6 months.
According to the N26 executive, the idea to launch a new service was amid the crypto bear market. Cryptocurrency remains super high even under bearish market conditions. So, the bank could not simply miss that opportunity and became involved in the new niche with its feature-rich online banking application.
Unlike other features of the same type, the new app will include an expanded functionality. On the one hand, it is a tool to buy and sell cryptocurrencies. On the other hand, officials say it will deliver some brokerage services as well. Nothing is known about what exactly the bank can offer in terms of brokerage. What we know for now is that the crypto transactions will be easy to complete.
Users will need to select a coin from the list of available tokens and indicate how much he or she wants to sell or purchase. Once the transaction has been completed, the funds will be added or deducted from the balance automatically.
The main thing that makes this feature extremely user-friendly is the integrated drag-and-drop functionality to “hover and move” assets and funds from the main balance to the crypto portfolio and back.
It does not seem like N26 is about to bring something revolutionary to the industry. Leading online Forex brokers offer more advanced functionality and richer feature set. However, it is another sign of cryptocurrency migrating to the banking system and becoming its inevitable part. Another benefit here is that trading crypto is becoming easier than ever before! So, do not miss your chance.