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The world of cryptocurrency has been continuously expanding and evolving, garnering attention and interest from both regular individuals and experienced traders. With the rising popularity and potential of digital currencies, it’s no surprise that many companies have started to offer cryptocurrency exchange services. One of the latest entrants in this industry is Revolut, a fintech company that has recently launched its own crypto exchange platform for professionals – Revolut Trading.
Revolut has been making waves in the financial technology sector since its establishment in 2015. It started as a digital banking app, offering convenient and cost-efficient services for sending money, making payments, and managing finances. With its customer-friendly approach and innovative solutions, Revolut has quickly gained a massive user base of over 10 million individuals and businesses across Europe and beyond.
The new crypto exchange feature, available exclusively for Revolut Metal customers, has further expanded the company’s offerings and solidified its position as a disruptor in the financial industry. This move has also triggered interest and excitement among traders and enthusiasts in the crypto world, as they now have access to a new trading platform with advanced features and competitive fees.
So, what exactly does Revolut’s new crypto exchange bring to the table? Let’s dive in and find out.
Introducing Revolut Trading
Revolut’s crypto exchange is a part of its trading platform, which also includes traditional stock trading. It allows users to buy, sell, and hold popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple. The exchange also supports fiat currencies, including USD, EUR, and GBP. This feature is currently available to Revolut Metal customers in the UK, but the company plans to expand it to other regions and customers in the near future.
One of the most significant advantages of Revolut’s crypto exchange is its user-friendly interface and straightforward trading process. Users can easily switch between traditional stock trading and crypto trading with just a few taps on their Revolut app. The exchange also offers real-time market data and features analytical tools to help traders make informed decisions.
Revolut Trading Fees
Unlike many other crypto exchanges, Revolut does not charge any commission for trading cryptocurrencies. Instead, it offers competitive fees for topping up, buying and selling digital currencies. For example, topping up via bank transfer is free, while using a debit or credit card incurs a 1.5% fee. Additionally, the exchange charges a 0.5% markup on crypto purchases and sales made during weekends and a 2.5% markup on transactions in illiquid markets.
Revolut Trading Limits
As Revolut’s crypto exchange primarily caters to professionals, there is no limit on how much you can trade, and you can also make as many trades as you want. However, there is a daily limit of £25,000 for free exchange with fiat currencies. For trading beyond this limit, the exchange charges a flat 0.5% fee. These limits are subject to change based on the individual’s account status and trading activity.
Security and Protection Measures
Revolut takes security and protection very seriously, and its crypto exchange is no exception. The app uses biometric authentication, such as fingerprint and facial recognition, for secure logins. Additionally, Revolut’s custody partner, BitGo, stores digital assets in offline cold storage, providing an extra layer of security. In case of any security breaches, Revolut also offers insurance of up to $100 million.
Benefits of Revolut’s Crypto Exchange
Revolut’s crypto exchange offers various benefits for professional traders and enthusiasts alike, making it a serious contender in the growing crypto trading market. Some of these benefits include:
1. Convenience: With Revolut’s crypto exchange, traders can easily switch between traditional stock trading and crypto trading within the same app, saving time and effort.
2. No commission fees: Unlike many other crypto exchanges, Revolut does not charge any commission fees for trading cryptocurrencies, making it a cost-efficient option for traders.
3. User-friendly interface: Revolut’s app is known for its user-friendly interface, and the crypto exchange feature is no exception. The platform is designed to make trading seamless and effortless for both beginners and professionals.
4. Real-time market data: Revolut’s crypto exchange offers real-time market data and analytical tools to help traders make well-informed decisions.
5. Enhanced security measures: With biometric authentication, offline cold storage, and insurance, Revolut’s crypto exchange ensures the security and protection of its users’ assets.
Tips for Using Revolut’s Crypto Exchange
For those interested in using Revolut’s crypto exchange, here are some tips to maximize the platform’s potential:
1. Understand the fees: Before getting started, make sure you understand the fees associated with trading on Revolut’s crypto exchange. Keep an eye on the markup and weekend fees, as they can affect your profits.
2. Make use of analytical tools: Revolut’s crypto exchange offers various analytical tools to help traders make informed decisions. Make use of these tools to analyze market data and trends.
3. Diversify your portfolio: With Revolut’s crypto exchange, you can access a range of cryptocurrencies, making it easier to diversify your investment portfolio. Consider investing in different digital currencies to mitigate risks.
In Conclusion
Revolut’s new crypto exchange has opened up a world of possibilities for professional traders, offering them a user-friendly platform with competitive fees and security measures. With its growing popularity and expansion plans, Revolut’s crypto exchange has the potential to become a major player in the crypto trading market. So, if you’re a professional looking to trade cryptocurrencies, it might be time to unleash your inner trader with Revolut Trading.
