Wednesday, September 22, 2021
HomeNewsBitcoin and Etherum: Neobank Nuri starts savings plans

Bitcoin and Etherum: Neobank Nuri starts savings plans




Bitcoin

Nuri is planning nothing less than the “future of banking”, according to the self-promotion.

(Photo: Moment / Getty Images)

Frankfurt Get in at the bottom and get out at the top – the dream of most private investors. The disgraceful truth is: Hardly any investor can find exactly the right time to invest. Thousands upon thousands of telecom investors can tell you a thing or two about it. But now there are solutions, including the increasingly popular savings plans.

These make a regular investment possible. Investors invest regardless of whether prices are falling or falling, eliminating the psychological element of investing that can lead to wrong decisions. If the Berlin neobank Nuri has its way, this should now also apply to the crypto market.

As the Handelsblatt learned in advance, a new service for Nuri customers will start on Tuesday: You can create automated savings plans for investments in Bitcoin and Ethereum – the first such offer in Germany. It starts from 30 euros per month.

“Many investors are asking themselves: When is the right time to get involved with Bitcoin,” Nuri boss Kristina Walcker-Mayer told Handelsblatt. “We believe: It’s never too late to get started. But trying to beat the market often fails. It is therefore important to invest regularly. “

Top jobs of the day

Find the best jobs now and
be notified by email.

In the long term, this saves customers costs, says Walcker-Mayer. It would also reduce the effects of market volatility. “Those who regularly invest smaller amounts are less dependent on the sharp fluctuations in the price of Bitcoin and Ethereum. The long-term price trend is clearly pointing upwards. “




The Bitcoin price fluctuates violently: on Monday it rose above the $ 50,000 mark for the first time in three months, after having been below $ 30,000 just five weeks ago.

250

thousand

The Berlin crypto bank Nuri now has customers. Within a year, it has become the second largest neo bank based in Germany. (Source: Nuri)

Walcker-Mayer did not want to make a forecast of how many customers will use the new offer. “Our existing customers kept asking about crypto savings plans. But we also expect increased demand from new customers. The market demand is there. And we connect it to a classic current account. “

Nuri relies on flexibility: If necessary, payments can be skipped or adjusted, and the crypto savings plan can also be deleted at any time. Nuri handles the purchase and sale of Bitcoin and Ether coins. However, the service can only be used by customers who have opted for so-called “custodian wallets”, i.e. externally managed crypto wallets.

Nuri offers this with its Berlin partner Solarisbank. Customers who manage the keys to their virtual wallets themselves cannot open a savings plan. “We are thinking about this for the future,” said Walcker-Mayer.

At some point, savings plans for other financial products, such as classic stocks or index funds (ETFs), are also possible. “We want Nuri users to be able to choose between different financial products, even outside of the crypto world.”

In addition to the savings plans, Nuri continues to work on what may be Berlin’s greatest idea: the so-called euro income account. Actually, this should have started long ago. On the euro income account, customers should receive income equivalent to interest of two percent. In other words, customers can park their assets in euros in the normal way. Nuri wants to lend part of the money in crypto form, which should make the high return possible. But so far the project has been stuck with legal and technical difficulties.

Nuri claims that it has over 250,000 customers in 32 European countries today, after N26 and before Vivid Money, which also come from Berlin, and is the second largest neo-bank based in Germany. Nuri is one of the few German flagship projects in the crypto universe. The target group are beginners and advanced users with an interest in the virtual currencies Bitcoin and Ethereum. Neobank offers you a classic current account, as well as a crypto trading option.

More: Neobank Nuri recruits Ripple expert as the new chief technology officer


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending News

Recent Comments