Plum Works with Bitpanda, Offers Crypto Investing in the EU

Plum Fintech Limited, a smart money app operator licensed by the Financial Conduct Authority (FCA), has added crypto assets to its investment products line due to the partnership agreement with Bitpanda. Plum with clients from France, Belgium, Ireland and Spain can now buy, hold and sell five of the most popular cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

According to the press release, the company plans to offer only 'more established' crypto tokens that can provide more stable long-term trading opportunities and reduce unnecessary risk. The current list of five cryptos includes Bitcoin (BTC), Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term (ETH), Solana (SOL), Cardano (ADA) and Binance Coin (BNB).

"Our customers in the EU are keen to explore crypto as an asset class, so we are delighted to be bringing them this new service in a quick and secure way. At Plum, our aim is to offer superior financial tools to help people grow their money over time in the most efficient way possible,” Victor Trokoudes, the CEO and Co-Founder of Plum, commented.

“We’ve chosen to offer five, more established coins at this stage as we want to make financial management simpler for people and encourage a longer-term investing approach instead of shorter-term trading.”

Cryptocurrencies at Plum can be purchased from €1. However, the transaction commission, a fixed rate of 2.5% per transaction, does not look encouraging compared to competitors’ offerings. By comparison, Robinhood does not charge any fees, while another investment platform from Europe, BUX, charges 0.5% per transaction.

Zero-Fee Stock Trading in the EU and Over 1m Customers

Earlier this year, Plus expanded its offering with commission-free stock trading in the European Union (EU) states. Adding crypto to the current product range should allow for building a wider consumer base and better portfolio diversification.

Plum Fintech Limited was established almost seven years ago, developing automatic savings and expense management services as well as adding investment options over time. More than 1.4 million customers currently use the app.