UK Mobile Banking App Revolut Adds Ripple, Bitcoin Cash to Portfolio
The users of the Revolut mobile banking app can now instantly buy and sell XRP and BCH for fiat currencies, in addition to BTC, ETH and LTC.
Now, Revolut users can instantly buy, sell, hold and transfer to other users XRP and BCH through the app, with just a touch of a button. However, the cryptocurrencies remain within the app wallet and cannot be sent outside it – to other wallets or people who do not have the app.
Additionally, users can spend their cryptocurrencies through the Revolut debit card, as if they are paying in fiat currency. The app will automatically deduct the value at the current exchange rate. Revolut already offers the same features for Bitcoin, Litecoin and Ethereum. It says it charges no fees for crypto transactions, but there is a 1.5% price markup added to any transaction.
The option, called Vault, can also be used. It allows the Revolut clients to round up spare change from their daily transactions, convert it into crypto, and automatically place it in the Vault for
Revolut launched in 2015 as an app for converting fiat currencies and making payments. It has a license from UK’s Financial Conduct Authority (FCA), under the Electronic Money Regulations. The app says it has more than 1.5 million users who have conducted over 70 million transactions with a value exceeding USD 10 billion. The app has two plans - free and premium, which costs GBG 6.99 a month.
Besides instant converting of several cryptocurrencies for fiat currencies that was introduced as Revolut Crypto in December 2017, the Vault and the debit card, Revolut offers travel and mobile phone insurance, cash withdrawals from ATMs, bank transfers, personal loans and a currency converter.
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