Nubank was created to get rid of complexity in the financial system and give people back control over their own money. And wherever money goes, Nubank will be there. That is why we are making Nubank Cripto available for all clients.
Less than a month after being released, 1 million clients have already explored this new functionality and bought cryptocurrencies with Nubank.
What is Nubank Cripto?
Nubank Cripto is a solution for buying and selling cryptocurrencies in the Nu app. It was created to simplify and increase access to the crypto market, with investments starting at R$ 1 (one Brazilian real).
For the moment, Nubank has decided to start with the largest cryptocurrencies in the market, Bitcoin and Ether (also known as Ethereum). Together, these cryptocurrencies represent 60% of the crypto market. But other digital currencies should soon join the app.
What is Nubank Cripto?
Just like any other currency, cryptos can be used to pay for products and services, as long as the supplier (a store, for instance) accepts this type of payment. Despite that, the majority of cryptocurrencies are not used for transactions of products and services. Nowadays they are considered assets and bought by people who believe in their value appreciation in the market.
The most solid and serious cryptocurrencies in the market are backed by transformative technologies. Bitcoin, for instance, has shed light on blockchains. Ethereum, network for the second largest cryptocurrency in the world after Bitcoin, is the main blockchain behind NFTs, the metaverse and the development of applications and games.
It is because of the inherent potential in these technologies that many people use them as long-term savings.
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Read more about Cryptocurrencies on our Blog.