Important information for trading crypto assets

This is a product offered by Bitpanda GmbH for clients of N26 Bank, AG, Spanish Branch. Any access to Bitpanda functionality will be done exclusively through the N26 app.

The offer of crypto assets in Spain is subject to the rules of Circular 1/2022, of January 10, of the National Securities Market Commission CNMV, regarding the advertising of crypto assets presented as investment objects. It is important to read and understand the risks of this investment, which are explained in detail on this page.

At N26, we are transparent, and we want to comply with all the obligations related to the information that we provide to our clients about the services offered on the Bitpanda platform. Therefore, if you buy or sell cryptocurrencies from the N26 application, you must take into account the following risks:

Crypto is a high risk investment product with high volatility

  1. The value of the investments and the return obtained from crypto assets may experience significant upward and downward variations, and the entire amount invested may be lost.
  2. Investments in early-stage projects carry a high level of risk, so it is necessary to properly understand their business model.
  3. Cryptoassets commercialised in the app of N26 and offered by Bitpanda are not covered by customer protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund.
  4. The prices of crypto assets are constituted in the absence of mechanisms that ensure their correct formation, such as those present in regulated securities markets.
  5. Many cryptoassets may lack the liquidity to be able to withdraw an investment without significant loss, as their circulation among investors, both retail and professional, may be very limited.

Technology risks

  1. Distributed registry technologies are still in an early stage of maturity, many of these networks have been created recently, so they may not be sufficiently tested and there may be significant flaws in their operation and security.
  2. The registry of transactions in networks based on distributed registry technologies works through consensus protocols that may be susceptible to attacks that try to modify said registry and, in the event of these attacks being successful, there would be no alternative registry that support said transactions or the balances corresponding to the public keys, therefore being able to lose all the crypto assets.
  3. The anonymity facilities that crypto assets can provide make them a target for cybercriminals, since in the case of stealing credentials or private keys they can transfer the crypto assets to addresses that makes their recovery difficult or completely prevent their recovery.
  4. The custody of crypto assets is a very relevant responsibility since they can be lost in their entirety in the event of theft or loss of private keys. Custody is performed by Bitpanda GmbH, located in Austria and subject to the Austrian legal regime.

Legal risks

  1. The acceptance of crypto assets as a means of exchange is still very limited and there is no legal obligation to accept them.
  2. The entity that carries out the custody of the crypto assets is Bitpanda GmbH, located in Austria.
  3. Crypto assets and private keys are not available to investors. The crypto assets are stored in a ‘cold wallet’ on behalf of Bitpanda GmbH. An Investor has economic ownership (can participate in profits and losses, or buy, sell as they wish).

If you have any questions about the indicated risks, you can contact us directly at or on our website in the frequently asked questions section.