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Introducing 7 million users Digital bank Revolut provides Bitco
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Date:2024-06-04 18:14:28 Channel:Wallet Read:
Digital bank Revolut recently announced an exciting news: they will provide Bitcoin trading services to 7 million users in advance. This move has attracted widespread attention in the industry and also provided users with more diversified financial investment options. In this article, we will explore the significance, impact and user experience of Revolut's introduction of Bitcoin trading, and take you to a deeper understanding of this eye-catching financial innovation.
As a leading digital bank, Revolut has always been committed to providing users with convenient and efficient financial services. With the rise of cryptocurrencies such as Bitcoin, more and more users have begun to pay attention to and participate in cryptocurrency transactions. Therefore, Revolut's introduction of Bitcoin trading services is not only a move to keep up with the trend of the times, but also to provide users with more comprehensive financial tools to meet their growing investment needs.
This move by Revolut also reflects the forward-looking thinking of digital banks on future financial development. With the continuous development and application of blockchain technology, cryptocurrencies such as Bitcoin have gradually entered the public eye and become a new force in the financial field. By providing users with Bitcoin trading services in advance, Revolut not only provides users with more investment options, but also sets a higher benchmark for its innovative image in the field of financial technology.
In terms of user experience, how will Revolut's Bitcoin trading service affect users' financial operations and investment strategies? First, users can trade Bitcoin directly in the Revolut app without the need for additional accounts or transfer steps, greatly simplifying the operation process. Second, as a digital bank that focuses on user experience, Revolut will provide users with real-time Bitcoin price trends and professional investment advice to help users better grasp market changes and make wise investment decisions.
In addition to convenient operations and professional services, Revolut's Bitcoin trading service will also bring users more investment opportunities and potential returns. With the continuous fluctuations in the cryptocurrency market such as Bitcoin, users can flexibly buy and sell through Revolut and seize the opportunity to earn investment returns. This high-risk and high-return investment method will undoubtedly attract more users' attention and participation, and also add a new highlight to their investment portfolio.
In summary, the digital bank Revolut provides users with Bitcoin trading services in advance, which is not only a forward-looking exploration of financial technology, but also a deep understanding of users' investment needs. Through this move, Revolut will further consolidate its leading position in the field of digital banking and bring users more investment opportunities and financial experience. With the launch of Bitcoin trading services, it is believed that Revolut will attract more users to join the ranks of cryptocurrency investment and explore the future of digital finance together.
The four most famous international exchanges:
Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
Revolut is a British online financial platform that provides traditional banking services and cryptocurrency transactions. It has quickly gained popularity around the world because of its convenient registration, currency exchange and offline withdrawal without fees. In February this year, Revolut announced the completion of a new round of financing of US$500 million, with a valuation of US$5.5 billion.
Image source: Revolut
British digital bank Revolut has expanded its cryptocurrency products to all its users as an alternative to government-backed fiat currencies. As governments around the world launch stimulus plans, including printing new currencies (known as quantitative easing), Revolut believes that Bitcoin provides an alternative because it has a fixed supply.
"In a recent speech, our head of crypto, Edward Cooper, reminded us that cryptocurrencies became an alternative to real currencies during the period of quantitative easing and currency devaluation after the 2018 financial crisis. Given the recent economic downturn, we are now beginning to see quantitative easing and currency devaluation happen again,"
Revolut said in an email to customers.
It added: “We had planned to make crypto products available to all customers later this year, but in light of recent events, we have decided to give all Revolut customers the opportunity to explore diversification, including using crypto now.”
All standard Revolut users can now use the service to buy and sell bitcoin and other cryptocurrencies, which users can hold in the app.
Revolut will make its Gold feature available to standard users in April. The app has 7 million users, according to PYMNTS data.
Last week, the U.S. launched a $2 trillion stimulus package to ease economic distress. The Federal Reserve has been printing money at a rate of $1 million per second, while Bitcoin takes 35 hours to print that much money.
And the Fed’s money printing doesn’t seem to be ending anytime soon. Last month, Minneapolis Federal Reserve President Neel Kashkari said the Fed has “an unlimited amount of cash.”
“I think once the dust settles from liquidations, margin calls, and outright panic, Bitcoin will start to show strength against unlimited printing,” INX Managing Director Alan Silbert told Decrypt at the time.
Still, while Revolut’s crypto expansion is well-timed and designed to appeal to those in the crypto community, not everyone is so eager to trade, and according to several Reddit users, Revolut’s functionality has multiple pitfalls.
“Unfortunately, you can’t move crypto out of the Revolut ecosystem into your own wallet, defeating the purpose of ‘being your own bank,’” one Redditor wrote.
Another added that the price premium in Revolut’s crypto service outweighs the benefits. “Bitcoin is trading at a 200% premium to spot price,” they said.
One thing Revolut can’t do, however, is print new Bitcoins at will.
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