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N26 Germany bank to add support for cryptocurrencies

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N26 Germany bank signed a partnership agreement with Bitpanda cryptocurrency exchange, giving its clients access to the cryptocurrency market.

German neobank N26 will start providing its clients with services of cryptocurrency trading. CNBC writes about it citing Gilles BianRos, N26’s product director.

The new service is made possible through a partnership with cryptocurrency exchange Bitpanda. Austrian clients of N26 will be the first to get access to cryptocurrencies.

The service, called N26 Crypto, will initially include 100 tokens, including bitcoin (BTC) and ether (ETH) cryptocurrencies. Over the next six months, N26 plans to roll out the service to users in other markets, adding nearly 200 more tokens to the listing.

N26 will charge a 2.5% fee for buying and selling German neobank cryptocurrency. However, in the case of bitcoin, the fee is reduced to 1.5%. At the same time, N26 will not allow cryptocurrency owners to withdraw assets from the site to their own wallets.

In early 2022, German neobank N26 co-founder Max Tyenthal admitted that the online bank missed the cryptocurrency boom by aiming to enter the U.S. market. In particular, Tyenthal agreed that the company should have developed cryptocurrency services rather than “flagging new markets.” In the future, Neobank plans to obtain a brokerage license to provide stock trading services, but the timeline remains unknown.

In 2021, the German local financial regulator criticized N26 for weak money-laundering controls. The regulator then lowered the service’s customer registration threshold to 50,000 people per month. Tyenthal said the regulator’s sanctions were a “serious constraint” on the bank, which investors consider a fast-growth company. In 2021, for example, N26 managed to attract an average of 170,000 new customers per month, but the sanctions now limit registrations to 50,000 users.

We previously reported that Nuri mobile banking & crypto urged customers to take cryptocurrency.

Cryptocurrency

How to sell Tether in Prague?

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Stablecoins are gaining popularity rapidly, and more people are discovering them. So, if you already know the pros of stablecoins, such as Tether, you must know how, where, and when to buy and sell USDT. So if you are looking for a place to sell Tether in Prague and want to know all the peculiarities of selling USDT, this article is for you!

Let’s first talk about what exactly Tether is. Tether is, as it was mentioned before, a type of stablecoin. Stablecoins are cryptocurrencies backed by some other currency, in the case of the tether – the US dollar. This makes the currency relatively stable because its value is not changing as much as Bitcoin or Ethereum. So if you are looking for a decentralized currency that would at the same time be stable, you should definitely consider buying Tether.

Let’s assume you already have stablecoins, and now your question is, “how do I sell my USDT?”. Although for some, it might be unclear how to sell Tether, in fact, the process is straightforward and available for anyone. There are many options to buy and sell stablecoins, but the crypto exchange is the easiest and fastest way to sell USDT.

Many wonder how to sell Tether for cash and if it’s possible. And the answer is “yes, it is!”. Special exchange services will allow you to buy and sell your coins for your preferred currency.

Since all exchanges work similarly, we will focus on exchanges in Prague. One of the best places to sell Tether in Prague is B2Cash. This exchange allows you to buy and sell Tether in just a few minutes. B2Cash is one of the most reliable platforms which will enable you to sell Tether in the Czech Republic. Thanks to its easy and initiative mechanisms, even those who have never dealt with selling crypto can do that easily. All you need to do is to find the exchange’s website and contact the manager to find out about the temporary rate. The manager will provide you with all the necessary information and guide you so you can sell your Tether in a few minutes. Many people choose B2Cash to sell Tether for cash in Prague because it also offers its users very affordable commissions.

Now that you know where to sell your Tether, you might wonder when to sell and buy USDT. Although USDT is a stablecoin, its value, as any other currency, can still change. So it is essential to do your market research before selling any asset. By regularly doing your research, you will be able to analyze the current situation and decide whether it’s suitable for selling or buying your Tether. The good news is that buying Tether is as easy as selling it, and it can also be done at the same crypto exchange. 

Summing up, dealing with cryptocurrencies and stablecoins is much easier than it seems at first glance. You should simply know how to buy and sell it, find your reliable exchange, and do your research! I hope that now you have no questions about selling and buying tether, so it’s high time to join the crypto market.

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Apple forced Coinbase to remove NFT transfers

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Apple NFT news: Coinbase said Apple is demanding a 30% tax on the gas fee used for NFT transfers. NFT coinbase wallet users can no longer send NFTs due to Apple’s interference. 

Coinbase said it could not meet the requirement even if it tried because the iPhone maker’s own in-app purchasing system does not support cryptocurrency. Note that the current stock price of Apple was not affected by the situation. 

Users affected by this decision, i.e. iPhone owners, will find it “much harder to transfer this NFT to other wallets. Coinbase added that the blockage may have been an oversight, and urged Apple to contact the company with any questions.

Coinbase first announced the NFT coinbase wallet in December 2021, giving users access through the app to trading platforms such as OpenSea. The NFT token issuance and trading platform was conceived as a peer-to-peer marketplace equipped with social platform functionality. This feature should help community members find new NFT tokens and collections.

In November, Apple updated the App Store’s NFT rules, so developers can now sell tokens they have placed on the App Store. However, the new rules prohibit using cryptocurrencies, cryptocurrencies, and QR codes to unlock features in the app. Also, development companies must have a license to operate in the country where the app is sold.

Earlier, we reported that crypto investors intended to achieve the arrest of FTX through protests.



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Tether says its USDT loans are “over-secured”

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Tether, the issuer of the USDT stablecoin, claimed that the USDT loans it issues are characterized by overcollateralization. This was the project’s response to a recent Wall Street Journal study. In it, WSJ analysts expressed fears that Tether’s current lending practices could trigger a new crisis in the crypto industry.

According to WSJ, Tether lends its own USDT Coins to customers without exchanging them for hard currency. As a consequence, in the event of a crisis, the company may not have enough long-term liquid assets to repay the money you borrow USDT and redeem these coins. So it makes sense to apply for USDT loans to companies that offer the opportunity to pledge various stocks of large companies. For example, at the current stock price of Amazon or another corporation.

Such fears are understandable amid a steady stream of news about the collapse of the FTX crypto exchange and its implications for the crypto market. In particular, the ensuing market collapse may have also contributed to the “erosion” of Tether’s collateral.

In response to these accusations, the project published a post on Twitter with the eloquent title “The hypocrisy of the mainstream media falling asleep at the information wheel.”

The project’s management believes that the WSJ analysts are completely mistaking the USDT kinoin itself for the collateral backing it. Meanwhile, “Tether’s secured loans are characterized by over-collateralization and are even backed by additional equity if necessary.”

According to the company, 82.45% of its reserves are currently held in U.S. Treasuries and other cash equivalents. Meanwhile, the decline in the USDT token is irrelevant to the value of loan collateral. Such fluctuations in quotations are only relevant to the exchange value of the coin itself.

Recall that the project boasts the longest list of accusations against it about insufficient collateralization of its stablecoins and/or lack of transparency of information on this topic.

We previously reported that hackers have stolen $3.37 billion worth of cryptocurrencies since the beginning of the year.

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