An electronic device comprising: a first wireless communication circuit configured to support a first communication protocol; a second wireless communication circuit configured to support a second communication protocol; at least one processor (120; 210) operatively coupled with the first wireless communication circuit and the second wireless communication circuit; and a memory operatively coupled with the at least one processor, wherein the memory stores instructions which, when executed, cause the at least one processor (120; 210) to control the electronic device to: establish a short-range communication connection between the electronic device and an external electronic device through the first wireless communication circuit; acquire subscription information of a first profile stored in a first Subscriber Identification Module, `SIM', of the external electronic device from the external electronic device through the first wireless communication circuit; transmit, to the external electronic device, an user authentication request for a subscription transfer which has been identified by the processor as a transferable subscription based on the first profile; transmit an authentication request to a first server through the second wireless communicatior circuit, based on selected subscription information;transmit, to the external electronic device, a challenge received from the first server corresponding to the authentication request, wherein the challenge is a random number for authenticating the first SIM; transmit, to the first server through the second wireless communication circuit, a payload for the challenge, the payload received from the external electronic device; acquire a second profile corresponding to the first profile from a second server associated with the first server through the second wireless communication circuit based on transmitting the payload to the first server; and store the second profile to a second SIM of the electronic device. a first wireless communication circuit configured to support a first communication protocol; a second wireless communication circuit configured to support a second communication protocol; at least one processor (120; 210) operatively coupled with the first wireless communication circuit and the second wireless communication circuit; and a memory operatively coupled with the at least one processor, wherein the memory stores instructions which, when executed, cause the at least one processor (120; 210) to control the electronic device to: establish a short-range communication connection between the electronic device and an external electronic device through the first wireless communication circuit; acquire subscription information of a first profile stored in a first Subscriber Identification Module, `SIM', of the external electronic device from the external electronic device through the first wireless communication circuit; transmit, to the external electronic device, an user authentication request for a subscription transfer which has been identified by the processor as a transferable subscription based on the first profile; transmit an authentication request to a first server through the second wireless communicatior circuit, based on selected subscription information;transmit, to the external electronic device, a challenge received from the first server corresponding to the authentication request, wherein the challenge is a random number for authenticating the first SIM; transmit, to the first server through the second wireless communication circuit, a payload for the challenge, the payload received from the external electronic device; acquire a second profile corresponding to the first profile from a second server associated with the first server through the second wireless communication circuit based on transmitting the payload to the first server; and store the second profile to a second SIM of the electronic device. establish a short-range communication connection between the electronic device and an external electronic device through the first wireless communication circuit; acquire subscription information of a first profile stored in a first Subscriber Identification Module, `SIM', of the external electronic device from the external electronic device through the first wireless communication circuit; transmit, to the external electronic device, an user authentication request for a subscription transfer which has been identified by the processor as a transferable subscription based on the first profile; transmit an authentication request to a first server through the second wireless communicatior circuit, based on selected subscription information;transmit, to the external electronic device, a challenge received from the first server corresponding to the authentication request, wherein the challenge is a random number for authenticating the first SIM; transmit, to the first server through the second wireless communication circuit, a payload for the challenge, the payload received from the external electronic device; acquire a second profile corresponding to the first profile from a second server associated with the first server through the second wireless communication circuit based on transmitting the payload to the first server; and store the second profile to a second SIM of the electronic device.