Revolut Adds More Cryptocurrencies as Users Conduct 100k Trades Daily

Mobile banking startup Revolut has increased the number of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term ‎available to its client as the company continues its efforts to deepen its ‎involvement in the rapidly growing space. The latest addition expands the total number of cryptocurrency assets available on Revolut’s platforms to five.

The financial technology firm now allows more than 1.8 million customers to buy, sell and hold Bitcoin Cash and Ripple XRP alongside the ‎already installed Bitcoin, Litecoin and Ethereum.‎ Users will also be able to transfer the virtual currencies to other Revolut accounts, with the entire exchange taking just 30 seconds.

London-based fintech firm also says that in the future it plans to add more types of investment vehicles and a slew of other cryptocurrencies

Since launching the new version of its app in January, Revolut has seen a tremendous amount of interest. The company revealed that 20 percent of the App users have now unlocked cryptocurrency trading, who are currently conducting 100,000 Bitcoin, Litecoin and Ethereum exchanges every day.

The new listings follow on the heels of launching a new tool, called Revolut Vaults, which allows users round up and save the spare change from their everyday purchases.

The European digital banking outfit has appointed Bitcoin exchange Bitstamp to facilitate cryptocurrency ‎purchases for its users.

Revolut, which allows people to transfer money cross-border and spend abroad in 120 ‎currencies with no fees, promises to offer competitive rates on crypto transactions, ‎charging only a flat, up-front 1.5 percent without other hidden fees. This is compared ‎with higher fees on other platforms that the company claims can add up to 5 to 9 ‎percent of the transaction value. ‎

Revolut also offers enhanced consumer protection as the company is ‎building its internal payment processor, which means that it does not have to rely on a third-party provider to facilitate customers’ transactions and has more control in the event ‎of a processing failure.‎

Commenting on the news, Vlad Yatsenko, Co-Founder & CTO of Revolut, said: “We’ve been asking the Revolut community which cryptocurrencies they would like to see next, and the demand for both XRP and Bitcoin Cash has been absolutely overwhelming. After months of negotiations and development work, we’re incredibly excited to offer exposure to these two digital currencies to the UK market.”

He also noted: “We launched this world-first feature in order to offer frictionless exposure of Cryptocurrencies to the mainstream population. The idea of exchanges, private keys and Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term is a complete turn off for some people, so we wanted to offer a simple way for consumers to get exposure in this area.”