Revolut, the financial superapp with 20 million customers worldwide, today announced another boost to the platform’s investment offering with the release of 22 new crypto tokens.
With these new additions, Revolut’s crypto offering reaches more than 80 cryptocurrencies supported in the app, representing an eightfold growth compared to the start of 2021.
The new crypto announced today is available to UK and EEA customers and includes the Metaverse token APE, two DeFi tokens: REQ, ETC and a robust collection of other tokens including CLV, FORTH, AVAX, SAND, GALA, AXS , JASMY , ENS, DASH, FLOW, IMX, CRO, IDEX, REN, ZAUBER, PERP, BICO, COTI, MLN.
“This is another big crypto year and we’ve given our offering a major boost while empowering people to take more control of their finances and giving them secure access to new tools and services emerging in the crypto space,” said Emil Urmanshin, Crypto General Manager at Revolut.
Revolut offers a wide range of financial products through its financial super app, and crypto is an increasingly popular feature. There are multiple ways to buy and sell crypto on Revolut: clients can set a stop or limit order so they don’t have to time the market, or use the recurring buy feature to smooth out volatility. Customers can also round up loose change when making daily purchases and set aside in a cryptocurrency of their choice.
In the UK, figures show the increased interest in crypto assets from Revolut customers: this year the number of UK customers buying cryptocurrencies increased by 6% and the number of transactions they made by 20% compared to the same period of the year year 2021.
All crypto tokens are available to customers on all plans, and standard customers can upgrade to paid plans to lower commissions if interested. Clients can invest in crypto tokens from as little as $1. For customers on the Metal plan in the UK, Revolut has released a beta program for BTC withdrawals. Revolut is exploring ways to launch crypto withdrawals in Europe, allowing customers to send their tokens from Revolut to external wallets and exchanges.
Revolut reminds its customers that cryptocurrencies are unregulated and not protected by investor compensation schemes. Crypto tokens are volatile assets and prices can change quickly. The value of cryptocurrency can go down as well as up very quickly, and trading can be taxable. While Revolut believes in expanding access to crypto, it may not be for everyone, which is why the company encourages its customers to educate themselves about the different cryptocurrencies and the risks and opportunities before buying or selling. Customers should check independent sources and learn about the differences between tokens, as well as consider their personal circumstances when buying or selling crypto. Capital is at risk.