N26 Crypto Review 2024: Features, Pros, Cons, & More
Based on research for our N26 review, the platform is excellent for European residents looking for a mobile bank account that offers a debit card, real-time spending notifications, and some crypto functionality.
However, if low fees, on-chain withdrawals, and a robust crypto exchange are priorities, another platform like Bybit will better serve you.
Key Takeaways
- N26 supports almost 200 cryptocurrencies but does not provide ownership of the assets and doesn’t support on-chain withdrawals or deposits.
- N26 is available in 24 European countries, but US or UK residents are prohibited from using the platform.
- Fees for trading crypto on N26 are 1.5% for Bitcoin and 2.5% for other cryptos, which are far higher than crypto-focused platforms like Binance or Crypto.com
- Users can send and receive 35 fiat currencies on N26 and have access to several IBAN accounts from different countries.
Table of Contents
What is N26 crypto?
N26 is a financial services platform that offers users fund management capabilities, access to a Mastercard-backed debit card, and an in-built cryptocurrency exchange.
The platform is available in 24 European countries, but only residents from Australia, Germany, and the Netherlands can access N26 Crypto functionality.
Quick N26 crypto overview
| Established | 2013 |
| Availability | 24 European countries |
| Best for | Managing multiple currencies, banking |
| Reputation | Trustworthy, never been hacked |
| Security | 2FA, real-time spending notifications, €100,000 guarantee |
| Main features | Crypto exchange, debit card, IBAN accounts |
| Crypto card | Yes, crypto must be converted to fiat for spending |
| Crypto wallet | Yes, no crypto deposits/withdrawals |
| IBAN | Yes, IBANs from 4 countries |
| Supported cryptocurrencies | Nearly 200 |
| Supported payment methods | Bank transfer, credit/debit card, cash |
| Rates & fees | High (1.5% on Bitcoin purchases, 2.5% on crypto purchases) |
| User experience | Intuitive to navigate, easy to use |
| App | Used to manage all critical features |
| Website | Used for sign-ups and information |
| Customer support | Chatbot, live chat, help centre, phone (paid users only) |
N26 crypto alternative
swissmoney is a financial services provider that makes switching back and forth between cryptocurrency and traditional currencies a breeze.
With swissmoney, you receive:
- Freedom from wire transfers; spend without limits.
- Dedicated IBAN accounts.
- Multiple cards with flexible spending limits.
- Convenient contactless payments through Google Pay or Apple Pay.
- Easy management through a user-friendly app.
- Multiple wallets for BTC, ETH, USDC, USDT, and TRX.
Quick N26 crypto pros & cons
When deciding whether to use a new platform, it is essential to weigh the pros and cons against your needs.
While researching our N26 crypto review, we found the following pros and cons.
| N26 pros | N26 cons |
| In-built crypto exchange | High crypto fees |
| Mastercard debit card | Not available in the UK or US |
| Almost 200 supported cryptocurrencies | Some products are GEO-restricted |
| Manage crypto and fiat on one app | On-chain transfers unsupported |
| Virtual and physical card | Only available on mobile |
| Free standard account |
N26 crypto benefits in detail
N26 offers many benefits to users, but not all apply to every user. Below, we explore some of the N26 app’s most appealing benefits.
1. Debit card
One of N26’s primary offerings is its Mastercard-issued crypto debit card. The product allows users to spend money directly and conveniently stored in their N26 accounts.
However, cryptocurrencies must be converted to fiat to be used for spending.
2. Cryptocurrency trading
To cater to people wishing to exchange crypto for fiat, N26 has implemented a cryptocurrency trading system. Users can buy, sell, and swap almost 200 assets.
However, fees range from 1.5% to 2.5% based on the asset traded, far higher than dedicated cryptocurrency exchanges like Bybit, which boasts 0.1% fees.
📚Related: How to Exchange Crypto to Fiat: A Step-by-Step Guide
3. Multi-currency support
N26 users can choose from an impressive range of 35 fiat currencies, making it easy to send international money transfers using a local currency.
Moreover, N26’s currency support makes it a robust choice for travellers.
📚Related: Best Multi-chain Cryptocurrency Wallets
N26 benefits conclusion
The N26 app offers a wide selection of benefits that will help users gain better control over their finances and assist with managing funds.
The platform’s benefits are focused on payments and currency conversions, so if these are a priority for you, N26 could be worth checking out.
N26 crypto limitations and drawbacks
While N26 has several features that make it a valuable tool for people who wish to manage their money better, it also has several limitations people should be aware of before registering.
1. High crypto fees
Throughout research for our N26 crypto review, we found that the platform charges exorbitant fees for buying and selling crypto.
To purchase crypto with N26, you’ll be charged 2.5% or 1.5% on Bitcoin purchases, which is not cost-effective.
2. Limited availability
While the N26 app was previously available in a broader selection of regions, the company exited from the UK and US markets, reducing accessibility substantially. Unfortunately, out of Europe’s 50 countries, N26 is available in just 24.
3. GEO-restricted products
While N26 is already only available in a few countries, the platform also restricts certain based on a user’s location.
For example, the N26 crypto is only available in Austria, Belgium, Germany, Ireland, Portugal, and Switzerland. Users based elsewhere cannot use any N26 crypto functionality.
N26 limitations conclusion
High fees and limited availability make it difficult to recommend N26. That said, if you’re from a country unaffected by the restrictions, N26 is reasonably feature-rich. Otherwise, the platform is relatively barren.
N26 crypto wallet
The N26 crypto wallet is a custodial exchange wallet, meaning that the company controls the wallet and can access its keys while the customer can only use it.
Exchange wallets are typically less secure than the best crypto wallets, so N26 may not be ideal for security-conscious crypto enthusiasts.
How does the N26 wallet work?
Customers use the N26 wallet to store cryptocurrencies. However, it’s critical to understand that N26 doesn’t support cryptocurrency deposits or withdrawals.
As such, N26 essentially offers a paper wallet that shows users a balance but doesn’t provide actual ownership of funds.
N26 wallet features
The N26 wallet is extremely basic and solely used to store crypto assets purchased on the platform.
However, users can track trending assets and build a watchlist to keep track of assets they’re interested in.
- Security: N26 has partnered with Bitpadna Asset Management to protect customers and their funds. Bitpanda provides a cold storage solution and manages the wallets’ private keys.
- Supported cryptocurrencies: All of N26’s nearly 200 cryptocurrencies can be stored in the platform’s wallet.
- Fees: The only fee associated with an N26 wallet is the cost of buying and selling cryptocurrencies. This fee is 1.5% for Bitcoin and 2.5% for other assets.
Pros & cons
| N26 crypto wallet pros | N26 crypto wallet cons |
| Support for nearly 200 cryptos | On-chain withdrawals/deposits unavailable |
| Assets kept in cold storage | Extremely basic |
| No additional fees |
N26 crypto exchange
N26 offers an exchange service designed to be a simple way of buying and selling crypto. The platform is basic, offering just the ability to buy and sell.
Users looking for an order-book-based interface should check out another platform. For example, Bybit is a world-renowned exchange offering bank-esque services through the Bybit crypto card.
How does the N26 crypto exchange work?
Using the N26 crypto exchange is simple. Users just have to search for an asset they want, press ‘Buy,’ input the desired quantity of the token, and confirm the transaction. N26 will transfer the assets to your crypto wallet.
N26 crypto exchange features
Unfortunately, the N26 crypto exchange has minimal features. Users can buy or sell crypto, but not much more.
However, the platform offers critical information like prices, depth, and fluctuations, giving users extra information to base their purchases on.
- Fees: If you plan to exchange crypto on N26, you’ll be charged a 1.5% fee for Bitcoin and 2.5% for other cryptocurrencies. As such, the exchange is not suitable for crypto trading.
- Supported cryptocurrencies: N26 supports nearly 200 assets that people can trade, including prominent projects like Bitcoin and Ethereum.
Pros & cons
| N26 exchange pros | N26 exchange cons |
| Easy to use | High trading fees |
| Reasonable asset selection | Limited features |
| Highly transparent |
N26 debit card
N26 offers a Mastercard-issued debit card to its European customers in supported regions. Because the card connects to Mastercard, one of the world’s largest payment networks, users can transact with it globally.
📚Related: Best Crypto Debit and Credit Cards
How does the N26 debit card work?
The debit card connects directly to your N26 account and draws on funds to cover spending.
You must have funds in a fiat account to spend on the card. As such, users wishing to fund the card using crypto must sell the assets for fiat first.
Features
The N26 debit card has several useful features that improve its usability. Cardholders can access virtual and physical cards, meaning users can start transacting immediately after applying. Additionally, the card offers free ATM withdrawals and real-time spending notifications.
- Fees: If you have a premium N26 account, you can order a physical card for free. However, standard users must pay a €10 delivery fee. Furthermore, withdrawals outside of a user’s free limits incur a €2 charge, while withdrawals other than EUR incur a 1.7% conversion fee.
- Availability: The N26 debit card is available to people in 24 European countries, making it accessible in just under half of Europe.
Pros & cons
| N26 card pros | N26 card cons |
| Connects to N26 wallet | Cannot directly spend crypto |
| Free ATM withdrawals | |
| Virtual and physical card | |
| Usable globally |
N26 IBAN
N26 offers several different IBAN accounts for users to transact with. The company provides customers with German, Italian, Spanish, and Dutch IBAN accounts, allowing users to send and receive international payments easily.
Moreover, having access to several IBAN accounts gives N26 online banking-like capabilities.
📚Related: A Beginner’s Guide to IBAN Numbers
How do N26 IBAN accounts work?
All N26 users can access an IBAN account and begin sending or receiving payments. The’ Account Details’ section on the N26 app allows users to view the details for each IBAN account.
Features
N26 IBAN accounts enable users to send and receive international payments.
The company offers several IBAN accounts with different formats, so users can receive funds from local bank accounts. This helps people who are sent money by international relatives.
Pros & cons
| N26 card pros | N26 card cons |
| Multiple types of IBAN account | Differences between IBAN accounts not clearly explained |
| Send money internationally | |
| View IBAN details in-app |
How N26 features work
While N26 is a beginner-friendly platform, it could be confusing for a new customer to determine how all its features operate. Below, we break down some typical activities on N26.
How to create an account
Anyone can register for a free account with N26. You must enter an email address, provide some personal details like your name/date of birth, enter your address, input your tax information, create a password, and your account will be ready. It can be accessed via the N26 mobile app.
How to deposit
Users must first choose a deposit method: credit/debit card, SEPA transfer, Apple/Google Pay, or cash via Cash26.
Once the user decides on a payment method, they just have to click ‘Add Money’ to decide how much to deposit and confirm the transaction.
How to buy crypto
To buy crypto on N26, users must have funds on the platform. After topping up:
- Select a cryptocurrency.
- Tap ‘buy.’
- Choose how much to purchase.
- Preview your order.
- Confirm the purchase.
N26 will transfer the assets to your wallet.
How to trade crypto on N26
N26 doesn’t let users directly trade cryptocurrency. Instead, they can sell crypto for a particular currency and buy another cryptocurrency.
How to sell crypto on N26
To sell crypto on N26, search for an asset you have a balance of, press ‘Sell,’ decide how much to sell, preview the transaction and its fees, and confirm the order.
How to withdraw money
To withdraw money from N26, you can use the N26 card to conduct an ATM withdrawal or send money to another bank account. The platform does not offer cryptocurrency withdrawals.
Supported cryptocurrencies and payment methods on N26
After researching extensively for our N26 crypto review, we found that the platform offered a relatively large selection of cryptocurrencies. Users can purchase blue-chip assets like Bitcoin and some lower market-cap projects.
- Supported cryptocurrencies: N26 offers nearly 200 cryptocurrencies, far more than platforms like Wirex, which supports just six.
- Payment methods: Users cannot deposit crypto to N26. However, they can deposit fiat using a SEPA transfer, credit/debit card, Apple/Google Pay, and cash at one of N26’s partner retailers.
N26 crypto fees and rates
The fees are among the most important considerations when deciding whether to use a new financial platform. You could find yourself out of pocket if you choose a platform with unreasonable costs.
| Fee type | Fee rate |
| Bitcoin purchase | 1.5% |
| Crypto purchase | 2.5% |
| ATM withdrawal fee (outside free withdrawals) | €2 |
| Non-Euro withdrawal fee | 1.7% |
| Card delivery | €10 |
| Standard monthly fee | €0 |
| Smart monthly fee | €4.90 |
| You monthly fee | €9.90 |
| Metal monthly fee | €16.90 |
N26 charges hefty fees for cryptocurrency exchanges and non-EUR withdrawals. However, it charges a flat fee for ATM withdrawals, much better than most platforms using percentage-based fees.
It’s also worth noting that creating a Standard account with N26 is entirely free and has no annual charges.
N26 crypto withdrawal
If you’re a crypto enthusiast, withdrawals on N26 are substandard. Users cannot withdraw crypto, meaning to take funds off of N26, they must use an ATM withdrawal or wire transfer.
| Standard plan | Smart plan | You plan | Metal plan | |
| Free Euro ATM withdrawals | 3 | 5 | 5 | 8 |
| Free ATM withdrawals abroad | No | No | Yes | Yes |
- No crypto withdrawals: Unfortunately, N26 doesn’t support cryptocurrency withdrawals or deposits.
- ATM withdrawals: N26 offers multiple free withdrawals to users with no transaction size limits.
- Bank account withdrawals: Users can withdraw by sending funds from N26 to another bank account.
N26 crypto security and licensing
Nobody wants to lose funds through no fault of their own. As N26 is a custodial platform that manages user funds, its security is paramount.
N26 account security
Outside of Two-Factor Authentication (2FA), N26 offers real-time account notifications, a €100.000 guarantee on accounts, and the ability to customize the permission of your card. N26 also operates a bug bounty program to find exploits.
Is N26 regulated?
N26 is registered and licensed in Germany by the BaFin regulator, making it a reputable platform. N26 has also never been hacked since opening its doors in 2013, highlighting its commitment to security.
N26 crypto: User experience
If a platform is overly challenging to use, beginners will likely be disinterested. A customer needs to be able to get started quickly; thankfully, N26 makes this easy.
Website
The N26 website is easy to use and well-designed. However, its primary purpose is to provide information about the platform’s features and to facilitate sign-ups. Other vital features are managed from the N26 mobile app.
Mobile app
The N26 mobile app is available on Android and iOS devices. While it’s rated highly (4.7/5) on the App Store, it’s rated just 3.2/5 on the Play Store, indicating poor Android performance.
Most users who left N26 reviews had issues with the lack of features and a challenging verification process. The N26 app is intuitive to navigate, meaning most people can get started quickly.
Customer support
N26 offers a comprehensive help centre containing articles detailing common issues and explaining features.
N26 also offers a chatbot and in-app live chat with quick response times. Users with a paid N26 plan are also entitled to phone support.
N26 crypto: Areas of improvement
While N26 is well-designed, it could improve a few elements.
Additional features
As it stands, N26 is relatively barren, particularly its crypto products. The platform would benefit from introducing new features like the ability to withdraw crypto or an order-book-based exchange.
Reduce fees
Buying crypto on N26 is expensive. With a 1.5% fee for Bitcoin and 2.5% on other crypto purchases, it’s challenging to recommend N26 for crypto purchases. If the platform reduced its costs to align with the industry standard (0.1%), users would likely flock to N26.
Availability
UK and US users cannot register for N26 or half of Europe. If the platform reopened sign-ups to people from these regions, it would be far more accessible to customers.
N26 crypto: Is it worth it?
N26 is a powerful platform offering crypto exchange functionality, a debit card, multiple IBAN accounts, and an intuitive interface.
Users also benefit from free ATM withdrawals, real-time spending notifications, and excellent security. However, the platform suffers from high fees, limited crypto features, and the inability to withdraw or deposit crypto assets.
After testing the platform for our N26 crypto review, we found it challenging to recommend.
While N26 could be suitable for European residents who want a bank with some extra functionality, those who prioritize cryptocurrency should consider an alternative, like swissmoney.
Our review methodology
To ensure a fair and informative review, we thoroughly test the core features of every platform we review. We consider critical aspects of a platform, like its fees, features, security, supported assets, and overall performance.
We also consider user-dependent factors, such as whether a novice could use the platform, its global availability, and its user experience.
We also compare each platform to similar platforms we’ve reviewed so our readers can see how they stack up against each other.
FAQs
Is crypto on N26 safe?
All cryptocurrency on N26 is stored in an offline cold storage wallet managed by N26’s custodial partner, Bitpanda, ensuring user asset security.
Is N26 good for crypto?
While N26 offers a good selection of cryptocurrencies, the platform charges high fees, doesn’t offer withdrawals, and doesn’t provide true crypto ownership.
Can I buy crypto on N26?
While you can buy crypto using fiat currency on N26, the platform doesn’t offer ownership of the underlying assets.
Can I send crypto to N26 from another wallet?
Although you can buy crypto on N26, you cannot withdraw the tokens to another wallet, and users cannot deposit crypto on N26.
Are there any fees associated with using N26 Crypto?
Using N26 Crypto involves several fees. The platform charges a crypto purchase fee ranging from 1.5% to 2.5%, and users can pay for a monthly N26 subscription with additional benefits.
Is N26 trustworthy?
Since launching in 2013, N26 has not been hacked, indicating good trustworthiness. However, the platform has exited several markets, leaving customers without service.
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