Revolut customers can now buy and exchange Bitcoin, Litecoin and Ether
Product & feature · December 7, 2017
- Revolut customers can now instantly buy and exchange three major cryptocurrencies in-app.
- In a world first, Revolut users will be able to buy Bitcoin, Litecoin and Ether in 25 currencies.
- More than 10,000 Revolut customers signed up to test the BETA version in just six days.
London, 7 December 2017
Revolut customers will now be able to buy, sell and hold cryptocurrency directly from the app in seconds as the innovative fintech continues to disrupt traditional financial services.
The exchange process will be instant and as easy as topping up your Revolut account in your base currency and then exchanging to either Bitcoin, Litecoin or Ethereum. The entire exchange will take just 30 seconds, making Revolut the fastest and easiest way to buy and sell cryptocurrency.
Revolut customers can then securely hold their cryptocurrency within the Revolut app or transfer their Bitcoin, Litecoin or Ethereum to other Revolut customers instantly and for free. In the event that you hold no fiat currency in your account, Revolut will dynamically convert any cryptocurrency you hold within the app when using your card with the best possible rate.
In a further move to offer frictionless exposure to cryptocurrency, customers will be able to buy cryptocurrency in all 25 base currencies, eliminating foreign exchange fees for those looking to buy their coins in Swiss Franc or Polish Zloty.
Revolut will also introduce the most competitive rates for those looking to buy cryptocurrency. Many brokers are completely disingenuous in their claim that they offer market low rates, when in reality they apply a number of hidden fees, such as deposit and exit fees, which typically costs consumers an average of between 5-9 percent on each exchange. Revolut will only apply a 1.5% markup during the exchange process with no hidden fees.
Nikolay Storonsky, Founder & CEO at Revolut: “Despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive. We’re going to open up cryptocurrency exposure to everyone, faster than any other platform on the market.
By allowing our customers to seamlessly buy, hold and sell cryptocurrency, we are living up to our reputation of being a disruptive innovator in the world of finance. Cryptocurrency exposure has consistently been the number one requested feature from our customers and so we listened and took action.”
Lewis Tuff, Chief Platform Engineer at Revolut: “To drive mass adoption of cryptocurrencies we believe the barrier to entry has to be reduced. With Revolut introducing cryptocurrencies into our platform we’re allowing all users to gain exposure to digital currencies in a simple, secure and seamless manner.”
*Accurate and up to date as of 07/12/2017.
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