Vivid launches commission-free investing in 10 cryptocurrencies

April 22, 2021

Berlin, April 22, 2021 - Vivid, the financial platform for banking, saving and investing, today announces the launch of crypto pockets in Germany. The new feature allows users to invest in ten of the most important cryptocurrencies - from as little as 0.01 euros. For the launch, the new service is available to all users free of charge and without commission. The ten cryptocurrencies available during the launch phase are Bitcoin, Bitcoin Cash, Ethereum,  Algorand, BAT, Cardano, Chainlink, EOS, Litecoin and NEM. Crypto trading is available to all Vivid customers and will be further expanded in the coming months.

Users can easily create a crypto pocket via their registered Vivid account and invest in currencies such as BTC, ETH or LTC, either with a free standard account or a prime account, which is available for €9.90 per month. Immediately after creating a crypto pocket, Vivid provides extensive information on cryptocurrencies and investments in fractional shares.

After creating the crypto pocket, Vivid users have access to the entire available crypto offering, including descriptions, historical market data and current buying and selling prices of each currency. Investors can follow the prices of the currencies in real time and plan their next investment steps based on this. At the same time, cryptocurrencies offer them good potential returns: according to a Yale study, cryptocurrencies have a higher return potential than most other forms of investment. A Bitkom survey from December last year also shows that cryptocurrencies are increasingly leaving their niche existence in finance and are enjoying growing popularity, especially among younger investors.

In February of this year, Vivid became the first financial platform to offer commission-free investment in US and European equities. With this new service, Vivid is taking a further step towards holistic banking, investing and saving on one mobile platform. To offer the highest level of security, Vivid is cooperating with CM-Equity AG, a Munich-based broker regulated by the German Federal Financial Supervisory Authority (BaFin). The cooperation with CM-Equity AG makes it possible to invest in cryptocurrencies from as little as 0.01 euros – with prices of several tens of thousands of euros for popular cryptocurrency coins, this makes it much easier for users to get started with crypto investments. The loss of one’s own crypto wallets, which can only be held online or mobile, is no longer possible with this derivative purchase. Investors earn a share of the rising or falling price of the respective cryptocurrency.

"We are very pleased that we can make investments in cryptocurrencies accessible to our customers – without commissions or high entry barriers. We also help our users become familiar with cryptocurrency investing and provide them with educational content and detailed information about each cryptocurrency and its historical development via our app. Trading is available 24/7 in our app, as is our chat support that customers can use in case they have any questions. With crypto investments, we aim to offer our users another option to grow their money even in times of zero or negative interest rates," adds Alexander Emeshev.

Vivid was founded in Berlin in 2020 by Alexander Emeshev and Artem Yamanov. After only eight months, the financial platform already has over 100,000 users in Germany, France and Spain. Vivid plans to expand into four more European countries during the course of the year. Vivid's success is due to the platform's wide range of services and products, including an extensive cashback programme, a free Visa metal debit card, Vivid Pockets (sub-accounts) that feature their own IBANs and can be used free of charge with others, as well as many other features.

About Vivid
Vivid is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts and commission-free investments in stocks) without unnecessary fees. Just eight months after its launch in June 2020, more than 100,000 customers are already using Vivid's products in Germany, France and Spain. Vivid was founded in 2019 by Artem Yamanov and Alexander Emeshev in Berlin and consists of an international, highly qualified team of more than 180 employees.

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