All Nubank customers will soon be able to buy and sell cryptocurrency directly through the Nubank app. digital bank. The novelty, which was called “Nubank Cripto”, is a solution created to try to simplify and encourage more people to access the crypto universe without having to open an account in another institution.
The feature is already available to some account holders. See below for more information on how the feature works.
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What is Nubank Crypto?
Nubank Cripto is a cryptocurrency buying and selling tool that aims to increase customer access to the cryptocurrency market. digital assetsIPhone. The tool, according to Nubank, will be available to everyone in the coming months.
To handle operations, the company has partnered with cryptocurrency exchange Paxos.
What cryptocurrencies can I buy?
For now, users can only choose two assets: Bitcoin or Ethereum. Together, the two cryptocurrencies account for almost 60% of the entire crypto market.
What is the minimum amount accepted?
According to fintech information, only R$1 to start. Remembering that you don’t have to spend thousands of reais to buy whole units of Bitcoin, for example, most people start out buying only small fractions of digital currency.
In addition to buying, you will also be able to sell and view your crypto reservations through the app.
How to buy cryptocurrencies on Nubank?
1. Open the app on your mobile and tap on the “Crypto” option.
2. On the next screen, choose the cryptocurrency you want to buy (at the time of publication, only Bitcoin and Ethereum are available).
3. Read the terms, tap “Agree” to continue and enter your four-digit password.
4. Then click on ‘Buy’ and enter the amount you wish to invest.
5. At the end, check the amount you will receive in crypto at the top of the screen, press “Confirm purchase” and re-enter your password to complete the purchase.
Ready! The amount invested will be automatically deducted from your balance.
Beware of the risks involved
As we see almost daily here in the Digital appearancethe value of cryptocurrencies is very volatile, i.e. prices explode and tumble depending on several factors. Therefore, investing in crypto assets is only recommended for those who are aware of the risks!
Want a practical example? Until 2010, Bitcoin was worth next to nothing. In 2017, when the search for digital currency started to gain strength, the price jumped to $20,000, hit close to $69,000 in late 2021, and fell back to $20,000 in recent days. with the crisis which affects the entire crypto market.
The idea is to buy at one price, sell at another, and try to make a profit along the way, which won’t always happen. The recommendation for those who are starting out is to inform themselves, in particular about the possibility of suffering financial losses.
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