Cryptocurrencies are now accessible through a larger range of fintech services as they become more widely used. In the past, users had to use specialized exchanges to buy assets like Bitcoin, Ethereum, or Dogecoin during cryptocurrency booms. Today, though, forward-thinking fintech institutions are making it easier to accept cryptocurrency.
One such choice is Revolut, a progressive bank that focuses on innovative financial solutions and open banking. If you are looking for a trading platform, check Immediate Prime, a website that connects people interested in investing with education firms that specialize in this field.
Understanding Revolut
Revolut stands itself as a model challenger bank that offers users a wide range of banking and investment options, going above and beyond traditional banks. Revolut’s all-inclusive mobile app not only provides access to cryptocurrency exchanges but also a variety of other services, according to Sifted, and is estimated to be worth about $33 billion.
Also See: 8 Christmas Tree Alternatives – Everything You Need to Know
Revolut initially focused on the UK, but it has since extended its reach to include a sizable chunk of Europe and the US. Revolut has been actively adopting cryptocurrency since 2017 and has even included crypto-staking capabilities in its operations. Before leaving the page, why not try out our list of Best apps like Revolut?
What’s Required to Create a Revolut Crypto Account?
When compared to opening a conventional Revolut payment account, using the cryptocurrency services offered by Revolut has the advantage of being a seamless process with no additional barriers. Even better, opening a Revolut account for cryptocurrency usually takes far less time than opening a conventional bank account. The Revolut app makes it easy to finish the entire enrollment process. The adoption of cryptocurrency only requires a few clicks because your primary Revolut account information is utilized for cryptocurrency transactions.
Go to the “Wealth” area of the Revolut Hub once you’ve logged into your account to find cryptocurrency services among other investing choices like equities and commodities. The “Crypto” icon will lead you to a section of the program that is specifically for exploring cryptocurrency news, and services, and engaging in buying and selling cryptocurrency. A small video will explain the features when you first investigate Revolut’s crypto services. You must read and accept the Revolut service terms and conditions before you start trading cryptocurrencies.
Also See: CoinDCX Alternatives
The unpredictability and lack of regulation in the cryptocurrency business are warned about by these rules. You will appear on the front page of your cryptocurrency hub once you have completed the process and accepted these terms. This website features analytics, a user-friendly learning section, visualizations of the value of your portfolio, and prizes for staking. Users of this learning platform receive cryptocurrency as an incentive for finishing lessons.
Three Options Besides Purchasing Cryptocurrency Through Revolut
N26
N26 is a European challenger bank that has entered the crypto services market, much to Robinhood. N26 promotes itself as a strong option for dipping your toes into the crypto world with a range of more than 200 cryptocurrencies. While N26 is a challenger bank that offers a variety of financial apps, its 1.5% cost for Bitcoin purchases and 2.5% fee for other cryptocurrencies may be a barrier for some investors. N26’s availability is primarily restricted to EU countries, similar to Robinhood, which regrettably implies that clients in the UK or US cannot easily access it.
Also See: Sites Like CryptoNewsZ
Robinhood
Robinhood is a well-known and secure investment platform that provides access to 18 well-known cryptocurrencies. For traders who are just getting started in the cryptocurrency market, this makes it a fantastic option. Robinhood provides a range of other investment alternatives in addition to its built-in Bitcoin wallet. The company significantly increased its investments in expanding its crypto offerings during the bull market of 2021 and even went public on NASDAQ that year. However, it’s crucial to remember that the SEC has heavily scrutinized Robinhood’s practices. Additionally, it is now only available to users in the United States.