We’ve already introduced you to the newest addition to iCard Digital Wallet – crypto, and explored the essence of cryptocurrencies. Now it’s time to dive deep into our investment module and reveal how to make the best of it.
Even if it’s not your first time on the blog, keep reading to learn the steps towards investing via iCard, how to understand your assets better, and what follows after they’re sold.
Navigating through iCard Digital Wallet’s investment module
The newest functionality lets you invest in over 200 cryptocurrencies through our partnership with Bitpanda. Once you complete the verification process required by Bitpanda, which is separate from your iCard account’s verification,, you’re ready to start investing. By tapping “Invest” in the app’s main navigation, you see a complete overview of your total balance and assets, and a list of the most popular coins.
To broaden your investment opportunities, we’ve also included precious metals in our module! You can easily filter all assets by tapping “Crypto” or “Metals”* to match your investment needs. Once you pick one asset, you can view its market performance over the past 24 hours, week, month, or year. Remember to make your investment decision wisely.
To gain more knowledge, just unfold the information on each asset by tapping “Read more”. Additionally, you can see the volatility, daily high and low, and market cap within the app. Use this mini-encyclopedia at its best!
*Available for clients with billing countries Italy, Romania, France, Spain, Austria, Hungary, Poland, Sweden, Czech Republic, Belgium, Croatia, Denmark, Portugal, and Slovenia.
How does investing work?
Good news – it’s easy! First things first, you don’t need to open a dedicated investment account. Just use your iCard account, regardless of its currency – if it’s different from EUR, your funds will be automatically converted using the current exchange rate when you make your investments. Remember, you can start with as little as €1!
All assets come with the respective fees – Bitcoin’s fee is 1.49%, and most of the other cryptocurrencies’ fees are 2.49% of the total cost*. Let’s have a look at an example of buying:
- The price of 1 Bitcoin is 24 560.20 EUR. You planned an investment of 200 EUR – it will be withdrawn from your iCard account and includes the fee that is calculated as 2.98 EUR. This makes your investment amount equal to 197.02 EUR for 0.00808252 Bitcoin.
*The fees are determined by Bitpanda and depend on the type of asset.
Once you buy an asset, you can view it in the “My assets” section in the “Invest” tab. All assets you invest in are safely stored in cold storage, managed by Bitpanda Asset Management GmbH. This means that they aren’t connected to any server or the internet, so they are completely offline. Having said that, you don’t have to worry about your portfolio’s safety, but make sure you also do what you can to protect your account. Add a passcode to your phone and don’t share it with anyone, and make a strong passcode for your iCard Digital wallet.
Keep in mind you cannot transfer your coins to another iCard user or use them to pay for purchases, so you only buy cryptocurrencies if you’re looking to invest.
When it comes to selling your assets, it’s as easy. You have to choose an amount you want to sell (either in EUR or the asset itself) and proceed:
- Say you want to sell 100 EUR worth of Bitcoin, and the fee is 2 EUR. The actual amount you sell will be equal to 102 EUR or 0.00408500 Bitcoin. This way the fee is deducted during the trade, so you will receive exactly 100 EUR in your iCard account. After you sell an asset, the money from the transaction goes back to your account, and you can use it again with your iCard Digital Wallet, as you usually do.
Are you ready?
Now that you know in-depth about investing via iCard, you are ready to take the next step. Just make sure you plan a long-term strategy and seek professional investment advice. Be realistic, too – it’s unlikely that you will become rich overnight, so give your investments enough time to accumulate gains.
When it comes to money and assets, your security is always important. Beware of scams – they’re not less common in the crypto world than elsewhere. Some fraudsters may call you and claim they’ve suspected a virus on your device so they can ask you for quick access to fix it. Others may offer you more coins for the price of one. Last but not least, some can send you phishing emails. You already know what we’ll say – don’t trust them, avoid the contact, and only invest via your iCard Digital Wallet or other trusted investment platforms.
We believe you’re ready now, so enjoy investing!
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