tl;dr
São Paulo-based Nubank has introduced a new feature allowing customers to withdraw and deposit Bitcoin, Ethereum, and Solana using its app. The initial launch includes these three cryptocurrencies, with plans to add more in the future. The bank advises users to consider potential fees and transactio...
Nubank, based in São Paulo, has launched a new feature allowing customers to withdraw and deposit Bitcoin, Ethereum, and Solana using its app. While the initial launch includes these three cryptocurrencies, Nubank plans to add more in the future.
Users are advised to consider potential fees, transaction times, and the importance of verifying supported networks and correct addresses to avoid irreversible loss of funds. According to a report by Livecoins, withdrawals may be subject to variable fees and crypto transactions may take about 60 minutes to process.
Nubank's entry into the cryptocurrency space is expected to further bolster Brazil's growing crypto landscape, following Itau Unibanco's recent foray into the cryptocurrency exchange market. Brazil ranks high in cryptocurrency adoption and is among the top 20 on Chainalysis' Global Crypto Adoption Index.
Nubank's move to enable withdrawals and deposits of Bitcoin and cryptocurrencies is poised to significantly impact Brazil's crypto environment. With its massive customer base in Brazil, Mexico, and Colombia, Nubank's involvement in cryptocurrency signals a substantial leap in mainstream acceptance in Latin America. Additionally, Brazil is one of the top Latin American countries with high cryptocurrency adoption and is ranked within the top 20 on Chainalysis’ Global Crypto Adoption Index.
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