Revolut is opening a way out for Bitcoin (BTC)! The neobank responds to customer demand, by allowing some of them in beta to transfer their BTC to their own wallets.
They asked for it, they got it (in part)!
May 6, 2021, Revolut announces that it finally allows the withdrawal of Bitcoin to his clients Metal at UK.
This decision comes 4 years after launching its cryptocurrency trading services to certain users, and one year after extending this offer to its 7 million users worldwide.
Revolut plans to allow withdrawals worldwide and other customer levels in the future.
The founder and CEO of Revolut, Nik storonsky, indicated that “cryptocurrency withdrawals are a highly requested feature by the Revolut crypto community“.
Users of Revolut will be able to add 3 external addresses and withdraw between £ 500 and £ 1000 per month. The application now has 2-factor authentication (2FA) to strengthen its security.
The neobank initially offered trading in Bitcoin, of Litecoin (LTC), and D’Ether (ETH), for users Premium in 2017. However, they could only withdraw their assets in the form of fiats.
Revolut follows the path of PayPal, who pioneered cryptocurrency trading in United States end of 2020. Cryptos purchased cannot be withdrawn, however.
This withdrawal option is a development lever for Revolut. Kraken expressed difficulties in working with the latter in September 2020, listing Revolut as one of the cloud banking services that does not process US exchange deposits or withdrawals.
Covid-19 at the service of Standard
Revolut is a London-based fintech company that offers its clients bank accounts, debit cards, currency exchange services, commission-free stock trading, and a crypto exchange.
The application supports customers in Europe, at Canada, at Singapore, at Japan, to the United States and in Australia.
In response to the covid-19 pandemic, Revolut deployed crypto services for all users Standard in April 2020.
Buy Bitcoins without being able to withdraw them? This fashion will soon be a thing of the past. Revolut is gradually supplementing its crypto services, as is PayPal. The company added 11 cryptocurrencies to its application in April 2021. One step at a time: enough to attract cryptophiles who want to keep their Bitcoins cold!
Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which appear to be far too technical.
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.