The fintech has teamed up with Bitstamp to process the transactions. Revolut currently charges a 1.5% fee for cryptocurrency transactions, and there are currently 100,000 cryptocurrency transactions per day.
However, compared to a traditional cryptocurrency exchange, users can’t send or receive cryptocurrencies from their Revolut account, as they don’t get a Bitcoin address for instance. All they can do is buy tokens in the app. If they want to transfer those tokens somewhere else, they will have to sell them for USD, GBP, etc. and then buy cryptocurrencies on a traditional exchange using their fiat money.
Recently, the startup also announced a new feature called Vaults. Revolut users can set up a vault to save money over time and can also set up recurring payments to set aside a bit of money each day, each week or each month, the tech publication continues.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now