Spaniards can now buy and sell bitcoin through the N26 neobank

Spain remains a nerve center for the bitcoin (BTC) ecosystem and cryptocurrencies. This reason drives companies to launch services linked to these assets in Iberian land. This is the case of neobank N26, which enabled its cryptoasset trading platform for Spanish clients.

In an announcement broadcast in local media, the neobank indicated that the N26 Crypto platform can now be used in Spainallowing customers to buy and sell nearly 200 cryptocurrencies, including bitcoin, ether (ETH), directly from the mobile application.

N26 Crypto is a trading platform created by the German neobank N26, operational since February 2013. With this service, users can invest in cryptocurrencies directly through the entity.

It was in 2022 when the platform It began to be enabled in European countries. Initially it was Austria, followed by Germany, Belgium, Ireland, Portugal and Switzerland. Now, in 2024, Spain joins the list.

On the trading platform, Spanish users will be able to obtain precise information, such as the movement of the 20 most important cryptocurrencies in the last 24 hours. It also offers the possibility for investors closely follow the evolution of crypto assets that interest them most.

The tool will allow Spanish users carry out a maximum of 200 daily operations. And they will not be able to buy or sell cryptocurrencies for less than 1 euro.

For average neobank customers, the transaction fee to operate with bitcoin it is 1.5% and for other cryptocurrencies 2.5%. Something that does not happen with Premium, where it is possible to carry out transactions with only 1% commission when operating with BTC and 2% with the rest of the crypto assets.

Something that N26 highlights is that the product will guarantee “maximum transparency” during the purchase and sale of crypto assets, as well as in the calculation of fees. It will also allow users a “clear visualization of their investment portfolio,” so that they can check its evolution over time.

From N26 they say that the launch to the Spanish market allows you to take advantage of the “resurgence of enthusiasm” among investors for digital assets.

Such enthusiasm, N26 alleges, is given by the recent approval of exchange-traded funds (ETFs) of the spot price of bitcoin in the United States, the appreciation of BTC and cryptocurrencies in the last year, the green light for European regulations MiCA and the upcoming Bitcoin Halving.

Pablo Reboiro, who is the general director of N26 for Spain and Portugal, valued the arrival of the cryptocurrency trading service to the Iberian market, where this asset class “is highly requested and relevant for retail investors.”

The N26 announcement occurs without the Bank of Spain have updated your registration of cryptocurrency service providers. So far, the German financial company is not reflected in the list that allows companies in the sector to operate in Spain.

Although Bitpanda does stand out on the list, the Austrian company in charge of carrying out the operations and custody of cryptocurrencies in collaboration with N26 Crypto. That company was added to the list on March 28, 2023.

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