European fintech unicorn Bitpanda announced this Thursday that its users will not have to pay fees to deposit or withdraw money from its platform, no matter what type of currency or transaction method they use. This is another step in the competition between the main crypto platforms, which is preparing for an intense clash with other players in the sector as the Bitcoin exchange-traded fund, which was approved last January, is finally launched.
“The elimination of all withdrawal and deposit fees sets a new milestone in the sector that will improve the user experience for our investors,” explains Eric Demuth, CEO and co-founder of the platform. The company highlights that, in addition to the most popular digital assets like Bitcoin and Ethereum, customers will be able to choose from 2,800 assets already available on the platform. Demuth also reiterated that “these changes make investing more accessible, increase transparency and help maximize the impact of user deposits or returns.”
Additionally, the company wants to make it easier for users to deposit funds into their investment accounts by introducing new payment methods. For this, very popular systems have been included, ranging from PayPal to Apple Pay, as well as credit and debit cards. Tea
The announcement comes amid a tough fight for savings. While banks maintain few deposits with returns above 4% APR, technology platforms are preparing for the introduction of new options by larger traditional institutions, also focusing on cryptocurrencies. For their part, managers are beginning to raise money from retailers to invest beyond the stock market and bonds.