Nubank, headquartered in São Paulo, unveiled a new function enabling users to make Bitcoin and cryptocurrency transactions involving deposits and withdrawals.
Customers can now easily send and receive Bitcoin, Ethereum, and Solana directly through the Nubank app. Convenient new features include the ability to withdraw and deposit these cryptocurrencies, which can be found on the app’s primary crypto display screen for users to test out.
Nubank Adds Bitcoin and Cryptocurrency Features to App
At the outset, Nubank will offer three different cryptocurrencies during this debut. However, expect additional cryptocurrencies to be included in the not-too-distant future.
Based on Livecoins’ report, it’s recommended that users take note of certain factors before finalizing a transaction. Firstly, withdrawal costs can differ based on the selected network, and secondly, processing time for crypto transactions is around an hour.
A loosely translated statement from the bank reads,
“The Withdrawal and Deposit features are now available in our app. You can verify if you have this update on the primary crypto page of the application. Currently, you can transact with Bitcoin, Ethereum, and Solana. We aim to expand the list of supported coins in the future.”
it’s essential for users to check if the chosen network and currency are compatible with Nubank wallet. Nubank strongly advises this step to prevent mistakes in transferring assets to unsupported networks or incorrect addresses. Incorrect transfers could potentially result in losing funds permanently.
Brazil’s Crypto Landscape
Nubank’s new feature allowing Bitcoin and cryptocurrency transactions, including deposits and withdrawals, is set to strengthen Brazil’s growing crypto scene. As the leading fintech bank in Latin America with over 80.4 million customers in Brazil, plus millions more in Mexico and Colombia, Nubank’s entry into cryptocurrencies marks a substantial leap towards mainstream adoption.
In late December 2023, the most recent news aligns with Itau Unibanco, Brazil’s biggest bank, entering the cryptocurrency trading scene for the first time.
Brazil stands out among Latin American countries for its substantial cryptocurrency usage, placing it among the top three nations with significant “groundswell adoption.” It also ranks in the top 20 globally according to Chainalysis’ Crypto Adoption Index.
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2024-04-25 01:12