20 hours Ago By Dominic Sow
October 21 2024 Starting today, users of the Nubank Cripto experience will benefit from reduced fees for buying and selling cryptocurrencies in the Nubank app through a new structure. Under this new model, the majority of customers can reach a rate of 0.6% per transaction – a 62.
5% reduction from the average fee of 1.6% practiced about a year ago and 25% lower than the average fee of 0.8% registered from March through the end of September.
The new process will be gradually rolled out over October and November, becoming available to all Nubank Cripto users. Nubank’s commitment to offering more competitive rates to its Nubank Cripto users also includes extending the transaction window for fee calculation. Under the new mechanics, the period increases from 30 to 45 days to allow customers to accumulate more operations, as the rate is defined based on the transacted volume during this timeframe.
“Throughout 2024, we invested further resources to gain operational efficiency, resulting in cost reductions that we are able to pass on to the user. Now, with more competitive rates, the resources moved by our customers in transactions via Nubank Cripto are further optimized, especially for those who usually operate large volumes on our platform,” comments Thomaz Fortes, Executive Director of Crypto and Digital Assets at Nubank. Every 45 days, when the automatic and individual analysis of the traded volume occurs, the fee is calculated and applied to the customer for the next 45-day window.
The fees vary according to the possible changes in the buy and sell amounts during the period, as follows: To make Nubank Cripto increasingly comprehensive, Nubank has been forging partnerships that not only contribute to the development of new features, such as the possibility of on-chain transfers, but also result in better end costs for the user. Among these partnerships, Talos stands out, providing smart routing for a wide range of liquidity providers integrated into the Nubank Cripto ecosystem. The new fee structure for buying and selling in Nubank Cripto is another advancement in Nubank’s commitment to delivering increasingly positive user experiences without compromising the platform’s sustainability.
”Since its founding, Nubank has aimed to fight against abusive fees with total transparency in customer relationships, with no asterisks or fine print. The reduced fees we now offer in Nubank Cripto are indeed necessary to sustainably cover the operational costs of the platform, with a robust, secure infrastructure, free of complexity, and in compliance with the entire regulatory network,” explains Fortes. Thomaz Fortes Nubank Nubank Crypto News Fintech Funding News.
