Revolut rolls out cryptocurrency exchange service to all users
Alternative banking app, Revolut, launched a cryptocurrency exchange service in December 2017 but had to halt full roll out due to unprecedented demand. Now, the issues are fixed and they informed all customers today that their cryptocurrency exchange service will be available to all with a simple upgrade of their app.
Once users have upgraded their app they will need ‘trigger the unlock’ to be added to a queue that will be unlocked shortly. None premium users may also need to be advocates for the app by using a personalised link to have their network also sign up to the app.
Revolut launched back in 2015 with the vision of revolutionising international financial transfers, after its founder and CEO, Nikolay Storonsky, had seen first-hand the ‘astronomical fees’ applied to international financial exchanges and transfers. To date, they say they’ve saved their 1m customers $160m in fees.
Their newest feature, cyptocurrency exchange, will add their accolades and will undoubtedly revolutionise cryptocurrency trading. Unlike many existing exchanges, buying and selling cryptocurrency with revolut will take 30 seconds… rather than minutes or hours. Users will be able to buy in 25 different currencies and with free currency exchanges built into the app, should users hail from a country with a currency outside those 25 that’s no problem, as they’ll easily be able to exchange into the right currency.
That 30 seconds will easily make Revolut the fastest echange currency available. You’ll be able to buy Bitcoin, Litecoin and Ethereum. No doubt further currencies will be added down the line too.
Storonsky said in a statement: “We have been amazed by the incredible demand of our cryptocurrency feature and are delighted to begin opening it up to all Revolut users. Now that we have upgraded and tested our systems, we are able to cope with demand and will avoid disrupting the service for everyone else by rolling this feature out gradually, starting with our Premium customers.”