Revolut: Banking on the Future with Crypto
Hello, dear readers and future followers! Today, we dive into the world of online banking, specifically exploring the fascinating realm of Revolut and its connection with cryptocurrencies, all while maintaining an informative and lighthearted tone.
My Crypto Awakening with Revolut
Around two years ago, I stumbled upon the Revolut application, driven by one compelling reason — cryptocurrency. While I had heard of Bitcoin and similar digital currencies, it wasn’t until I installed the Revolut app and acquired my first cryptocurrency, Cardano (ADA), that I truly ventured into the world of crypto. With a nudge from a friend and the endless resources of the internet, I embarked on a journey into digital wallets, online earnings, investments, and the vast universe of cryptocurrencies.
Looking back, my initial foray into crypto was marked by inexperience and sheer delight. My knowledge today has grown immensely, but that feeling of owning my first cryptocurrency through the Revolut app remains irreplaceable.
Why Revolut, You Ask?
Now, you might wonder why I chose Revolut over other platforms like Binance or Coinbase. Frankly, at the time, I didn’t know any better, and Revolut held a certain allure. Unaware of the app’s limitations, like its inability to transfer crypto to non-Revolut users (a major drawback), I made my first crypto investment with Revolut. Despite this handicap, I don’t regret my choice. In fact, I’ve continued to invest in Revolut, watching my portfolio grow and diversify into various cryptocurrencies.
The wait and faith in Revolut eventually paid off. Today, Revolut allows you to send crypto outside its ecosystem to any digital wallet or address, offering greater flexibility and utility.
Unlocking the Power of Revolut: More Than a Wallet
Revolut is unlike your typical digital wallet or crypto exchange; it’s a unique hybrid. It seamlessly combines the functionality of both while offering something extra. Think of it as a digital bank with the added ability to buy and sell cryptocurrencies, precious metals, stocks, and a recent addition called “Learn and Earn,” which sets it apart in a league of its own.
In addition to crypto purchases, Revolut now supports staking, allowing you to earn interest on your crypto holdings. Simply stake your assets and enjoy the interest paid out in crypto.
Simplicity in Crypto Trading
Trading cryptocurrencies on Revolut is straightforward, and suitable even for beginners. To buy crypto, select your desired cryptocurrency, and the fiat currency you want to use, confirm your purchase, pay the fee, and voilà — you’re a proud cryptocurrency owner. Within the app, you’ll find a dedicated crypto section, providing an overview of your holdings, trading insights, basic statistics, and everything needed for effective portfolio management.
The basic fees for buying and selling cryptocurrencies are reasonable at 0.99%, with variations based on your chosen Revolut plan. Speaking of plans, Revolut offers several options, from the free Standard plan to the premium Ultra plan, each with its own set of benefits and corresponding fees. For beginners, the Standard plan is an excellent starting point to explore the app’s features and determine your goals.
Revolut frequently launches “Learn and Earn” programs, where you can acquire crypto knowledge through short videos or texts, followed by a quiz. Correct answers earn you a small amount of the featured cryptocurrency. What’s great is that you can retake the quiz until you answer all questions correctly, making learning both enjoyable and rewarding.
The Revolut Card: More Than Meets the Eye
Revolut offers the exciting option of customizing your credit card. You can choose from various colors, materials, and degrees based on your selected Revolut plan. Beyond the physical card, Revolut provides a virtual credit card for online shopping. It’s a one-time-use card, ensuring that your card details remain secure. After each purchase, the virtual card self-destructs, replaced by a new one with a fresh number and CVV code — a smart security measure.
Cashback and Smart Savings
Revolut’s cashback feature is worth mentioning, as is its ability to set aside a portion of your funds or crypto with each purchase. This amount is stored in a vault, which you can designate for specific purposes like vacations, retirement savings, education, and more. When your desired amount accumulates, you can withdraw it for its intended use.
In Conclusion
In summary, Revolut offers a diverse range of features related to cryptocurrencies and more. Aside from the past limitation on sending crypto outside the app (which has been rectified), I have no major complaints.
While Revolut may not embody the decentralized ethos of cryptocurrencies, it provides a high level of security and trust for safeguarding your money and crypto assets. For those who value security and convenience, this trade-off is well worth it.
Ultimately, the choice is yours. If you found this application intriguing, here’s my referral link once again. Let’s embark on new online adventures together: Revolut Referral Link.
https://revolut.com/referral/?referral-code=teo6boql!SEP2-23-AR
You can read this article and much more about crypto on Medium or on Substack:
Greetings and until my next article!
Neo77
