Revolut, the cryptocurrency-friendly neobank, has extended its crypto exchange services to 30 new markets across the European Economic Area (EEA). The expansion includes countries such as Belgium, Cyprus, and Denmark, marking a significant growth phase for Revolut X, which was initially launched in the UK in May.
Revolut X, developed exclusively by Revolut, originally targeted seasoned crypto traders when it debuted in the United Kingdom. With its advanced features, the platform catered to both professional and retail customers. Following its success, Revolut X is now accessible to all Revolut account holders within the EEA and the UK, expanding its user base substantially.
Eligible customers in these regions can engage in the trading of over 200 different cryptocurrencies and tokens through their Revolut bank accounts, enjoying a seamless trading experience that integrates with their everyday banking activities.
Features and Services
Revolut X offers several advanced trading tools and features, including real-time trading and comprehensive analytics supported by TradingView monitoring tools. Additionally, the platform has an intuitive dashboard that helps traders manage their transactions and track market movements effectively.
Regarding the cost of trading, Revolut X charges zero fees for maker orders and a nominal 0.09% for taker orders, applicable across all trading volumes. This competitive fee structure is designed to attract a wide range of traders, from novices to experienced professionals.
Security is a priority for Revolut X, with the majority of funds secured in cold storage, although specific details on the proportion of funds stored remain undisclosed. The platform also offers 24/7 customer support to assist traders at any time. Moreover, Revolut uses advanced risk monitoring tools to safeguard against account takeovers and employs trusted custodians selected through a meticulous due diligence process.
Revolut X’s Role in Crypto Accessibility
The introduction of Revolut X in new markets is complemented by the launch of Revolut Ramp, a feature that simplifies the process of purchasing cryptocurrencies directly into users’ wallets through partnerships with platforms like MetaMask and Ledger. According to Leonid Bashlykov, head of Revolut’s crypto exchange products, this expansion is aligned with Revolut’s mission to eliminate financial borders and empower individuals with financial freedom.
| Feature | Description |
|---|---|
| Markets Added | 30 new EEA countries |
| Cryptocurrencies Available | Over 200 types |
| Fee for Maker Orders | 0% |
| Fee for Taker Orders | 0.09% |
| Security Measures | Cold storage, risk monitoring, trusted custodians |
| Support | 24/7 customer service |
| Accessibility | Available to all EEA and UK Revolut account holders |
The Impact of Crypto Platforms on Traditional Banking
Revolut X’s expansion into the EEA signifies a transformative shift in financial services, blending traditional banking with the burgeoning world of cryptocurrency. This integration is pivotal as it bridges the gap between conventional financial services and digital currencies, making advanced financial tools accessible to a broader audience. As platforms like Revolut X continue to evolve, they are likely to play a crucial role in reshaping the financial landscape, promoting inclusivity, and driving innovation in global banking and investment practices.
Featured image credit: studiogstock via Freepik
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