How to buy Bitcoin on Nubank in 2024

Today, we have prepared a simple guide to buying Bitcoin at Nubank. Currently reaching 100 million customers, the largest digital bank in Brazil has revolutionized the market in recent years. 

Likewise, it is now adapting to the future of financial transactions, cryptocurrencies, so it is likely that people like you are trying to enter this world in a simple and easy way. 

We can safely say that this is one of the easiest places to buy cryptocurrencies. However, it does have its drawbacks. We will also discuss these throughout the text. But if what you want is just to get your first bitcoins as quickly as possible, we will guide you through that right now. Follow along.

Steps to Buy Bitcoin on Nubank

Unlike cryptocurrency brokers , you can sell and buy Bitcoin on Nubank in seconds. And the same goes for other currencies, such as the dollar itself. So, here’s the step-by-step guide from scratch:

1. Open your Nubank Account: do as you normally would to send transfers or pay your bill. 
2. In the options just below your account balance, at the top of the screen, choose “Invest”. Your FIAT/BRL and cryptocurrency investment section will open. If you can’t find this section, try scrolling down the app to the main screen of your account;
3. Right after opening the investments section, you will see access to the cryptocurrencies section. It may be written as: “Total in cryptos”. Click to enter;
4. Once you are in the crypto section, select “Activate account” and confirm the creation of your wallet. It is free. Enter the password to confirm the opening;
5. When you access your wallet, you will be able to see your total cryptocurrency balance in reais. To buy Nubank Bitcoin, select the “Buy” button;
6. Choose Bitcoin or even another cryptocurrency if you like. You will see the current price and recent movement of the asset;
7. Choose “Buy” again;
8. Enter the amount in reais you wish to purchase and your password once again;
9. Go back to your wallet and as soon as you open it, you will be able to see your total cryptocurrency balance. You can also easily sell your crypto whenever you want.

How does Nubank work to buy Bitcoin?

As we’ve already said, Nubank is the largest digital bank. Its net worth is R$8 billion , according to a report by Banco Data. But, in addition to that, there’s another interesting number in the context of cryptocurrencies. One million people have already purchased some crypto on the company’s app.

However, first of all, we need to discuss something at least. Why did Nubank stand out? Well, there are many reasons. But the big difference between this bank and traditional banks is the lack of a physical structure.

This reduces costs and, of course, becomes much more attractive to users. Transactions, as well as all the app’s functionality, are surprisingly easy. In this way, Nubank ends up being a first step towards managing your money in a more modern and technological way.

In short, learning how to buy Bitcoin at Nubank was probably quite easy for you. This institution is quite reputable, however, is it the best place to invest in cryptocurrencies? See the advantages and disadvantages of choosing this bank to acquire digital assets:

Fees and Costs at BTC Nubank

Buying Bitcoin from Nubank is a practical and easy strategy. In short, you can take advantage of the expected appreciation of this asset in the coming years. On the other hand, we must be honest in saying that this may not be the best alternative in terms of fees.

Each time you want to buy or sell cryptocurrencies, the company will charge a fee of between 0.9% and 1.6%. This is well above most exchanges, which charge between 0.1% and 0.5%.

Is it free to open an account at Nubank?

Opening a Nubank account is completely free, as is maintaining your account and making TED transactions. In terms of fees, the company is well ahead of the big traditional banks. There is also another interesting advantage of Nubank for investments. The money in your account yields 100% of the CDI, which is well above traditional savings accounts.

Why Buy Bitcoin from Nubank in 2024?

In an impartial manner, we have already analyzed the advantages and disadvantages of buying Bitcoin at Nubank in 2024. Now, in order to better explore the issues discussed, we will point out 5 reasons to choose this digital bank for investing in cryptocurrencies.

Largest Fintech in Latin America

To understand what Nubank is, we can start with the concept of Fintech. This is a word that combines the terms technology and finance in English. In other words, this institution is different from traditional banks, which are physically distributed in branches.

In fact, the business model itself has changed, and its online operation makes the entire process easier. In contrast to traditional banks, Nubank emerged as a simple service, focused on offering a credit card with no annual fee.

Another factor that helped it grow rapidly was its customer service. It has always been excellent, right from the start. Those who have an account know how well the support works and how quickly it responds. This is even more important compared to the slow service provided by traditional banks.

In short, this is currently the largest fintech in Brazil. Its market value is constantly growing and the company already has more customers than Banco do Brasil itself. Undeniably, all this reputation is in itself a reason to buy Bitcoin at Nubank.

Safe and Reliable

First of all, anyone who comes across a fintech like Nubank tends to be suspicious about its security. This doubt is common, even if the user has never even thought about buying cryptocurrencies. We are used to handing our money over to established institutions, following the same old pattern.

However, in just a few years, the company has proven to be safe and reliable. As mentioned on Nubank’s own website, it has already received several international awards and the largest investment funds have invested with it.

Furthermore, the company’s handling of fraud, theft and hacking is commendable. Nubank has several security mechanisms and technology that, in practice, is superior to traditional banks. There are several reports of quick refunds to users in serious cases such as theft and robbery.

Secondly, we would like to point out that buying cryptocurrencies is not necessarily a safe process. The main way to trade these assets is through exchanges. And, unlike Nubank, they are not necessarily trustworthy.

Security Tips and Strategies at Nubank

At Nubank, there are some security strategies that you should use to better protect your money. Check them out:

• Create passwords with upper and lower case letters, accompanied by numbers. Store them offline, in a safe place.
• Activate access protection — with this feature, every time you open the app, you will have to confirm your password, biometrics or go through facial recognition.
• Street Mode — This feature has been widely adopted by users since its launch. It allows you to limit the amount of transactions and even select trusted internet networks. In other words, when a transfer is made on your home or work network, it is more likely to be authentic and not a scam.

Commissions and Fees

The trading fee on exchanges like Binance is much lower than that of Nubank. However, the process at the bank is much simpler. You may still face fees such as withdrawal fees and even deposit fees at some exchanges.

But, as we said above, brokerage fees are lower, after all. However, this does not mean that you will lose that much if you decide to invest in the “purple one”. Recently, the company reduced the fee to 0.9%. Maybe this is just temporary. In any case, let’s do a simple calculation. Let’s simulate what it would be like to invest R$1,000:

• When purchasing Bitcoin at Nubank, your final balance would be 1,000 – (0.9% of 1000) = R$991
• When selling Bitcoin on Nubank, suppose you keep R$991. In the end, you would have, in your account, 991 — (0.9% of 991) = R$982

It is worth remembering that, if you buy for less than R$20, the rate can be above 1.4%. In short, the amount you “paid” to invest was around R$18. Well, for beginners who don’t want to learn about brokerages, this can certainly be worth it.

Nubank Crypto Tool

The Nubank Crypto tool is simply a section of the bank’s app. It was created to be a space exclusively for cryptocurrency investments. As we showed in the step-by-step guide above, simply access your crypto balance to learn about its features. Here are some of its features:

• Simple buy and sell function — two visible buttons for you to buy BTC Nubank in a few seconds. There is no need to download any other apps or register again. On exchanges, you would need to make a deposit and only then buy Bitcoin. In the meantime, some waiting times can be tiring.
• Buy cryptocurrencies with R$1 – Nubank’s portfolio has already grown. Therefore, you can invest in other cryptocurrencies such as Ethereum, Litecoin, Uniswap, Solana, etc. All this with a minimum value of R$1.
• Educational content — the Nubank app has a section called “cryptocurrency school,” with content that teaches you about crypto. Even if you plan to invest in other places later, this will help you gain context about this world.
• NuCoin — you can buy Bitcoin at Nubank, but also the company’s own cryptocurrency. By doing so, you can access exclusive benefits, as well as earn new coins simply by using your debit and credit card.
• Guide to declaring cryptocurrencies — a current concern about investments is taxes. Fortunately, Nubank crypto provides guides on this in the app.
• Track your investments — As with the entire Nubank investment section, you can track your losses and gains in a very clear and objective way. On exchanges, this is usually not so simple.

Nubank is Regulated and Legal

Here is a very strong point of buying Bitcoin from Nubank. This bank follows all Brazilian laws and regulations and is monitored by the Central Bank. This entity plays a central role in the country’s economy, and therefore helps ensure that the fintech is operating legally.

Therefore, this is an important contrast when comparing it to brokerages. Those who want something more traditional may prefer Nubank.

How to Buy Bitcoin on Nubank?

If you don’t have a Nubank account yet, we’ll now detail the process for buying Bitcoin from scratch. In no time at all, you’ll have the currency of the century and also a much more modern banking alternative.

1- Download the Nubank app

Download and open the Nubank app from the Play Store or App Store. Don’t be alarmed, as soon as you open the app, you can start setting up your account.

2- Open Nubank Account

It’s very simple: enter your CPF, confirm, your email, confirm, etc.

Other information requested is your phone number, address, monthly income and then you must send an image of your photo ID. Your credit card is automatically created.

2- Wait for Processing

Processing can take up to 1 hour, but usually takes between 15 and 30 minutes.

3- Log into your Account and Go to Invest

Once your account is created, several features such as Pix, credit and debit are already available. Look for the “Invest” button next to the main icons “Pix Area”, “Pay” and “Transfer”.

4- Access the Crypto Area

Within the invest section, look for your cryptocurrency balance, or any other part that refers to crypto. You will enter the Nubank section focused on these assets.

5- Activate your Account

Click “Activate Account” to unlock your cryptocurrency wallet. The process is free and quick.

6- Select Buy

Select the “Buy” button, choose Bitcoin and continue. Simply enter the amount in R$ that you wish to purchase. The application will automatically convert it and then you just need to confirm. Pay attention to the fees and try to move your money less to reduce losses.

If you have any difficulties, the great advantage is that the Nubank app’s customer service is excellent. Just click on the “?” icon at the top right of the screen and search for your question. However, if that’s not enough, there’s also the option to chat with a real customer service representative.

Conclusion

Cryptocurrencies are already an extremely popular topic these days. In the future, they are likely to play an increasingly important role on a global level. That’s why in this guide, we’ve brought you instructions on how to buy Bitcoin on Nubank.

This is a reliable institution, as we have shown above. The digital bank has been increasingly developing its asset section, and will probably diversify its options over time. Starting with just 1 real, this way of buying crypto may be interesting for many users.

Research, get informed and remember: never use amounts that are important to you in cryptocurrencies. This is a type of investment that will have risks, regardless of where they are purchased.

FAQs — Frequently Asked Questions