In Brazil, it is now possible to buy Bitcoin in banks thanks to the new Nubank support.
Nubank: in Brazil it is now possible to buy Bitcoin in banks
Nubank, a digital bank also funded by Warren Buffett, currently has up to 54 million users, all of whom will now be able to easily purchase BTC from their online accounts. To do so, users simply need to update the app and search for the “Nubank Crypto” category.
Bitcoin can then be purchased from the app, but currently, it is not yet possible to withdraw BTC to another wallet.
The feature added a few days ago, has a cost of 0.02%. Meanwhile, Nubank has also added an educational section to the app with content explaining what cryptocurrencies are and the latest industry news.
A company post says:
“Bitcoin was created with the intention of decentralizing the financial system and has influenced all other cryptocurrencies ever since. Generally, people compare Bitcoin to gold and tend to store it for the future.”
Nubank, Warren Buffett and their involvement in the crypto world
Back in May, a blog post indicated that Nubank had decided to invest in Bitcoin with an allocation in BTC.
Nubank had also stated that it was interested in creating a Bitcoin ETF and in 2020 acquired Easynvest, the trading platform offering Bitcoin ETFs since June 2021.
As much as he is against Bitcoin, this is not the first time Warren Buffett has invested in crypto-related projects.
When Nubank was listed on the US stock exchange, Oracle of Omaha invested the first $500 million in the banking company with a return of $150 million on its debut alone.
