Wednesday 24 October 2018

Revolut - with 50,000 Irish users - allows its customers to trade cryptocurrency in seconds

Louise Kelly

Louise Kelly

Fintech startup Revolut are allowing their customers to buy, sell and hold Bitcoin, Litecoin or Ethereum directly from the firm's app in a matter of seconds.

The London-based industry disruptor, which boasts 50,000 Irish users, stated that the exchange process for the cryptocurrency will be as instantaneous and as simple as topping up a Revolut account in a user's base currency.

Customers then have the option of holding their Bitcoin, Litecoin or Ethereum within the app - or transferring the cryptocurrency to other users instantly for free.

"Despite being one of the hottest trends in the world right now, getting exposure to cryptocurrency has notoriously been time-consuming and expensive. We’re going to open up cryptocurrency exposure to everyone, faster than any other platform on the market," Nikolay Storonsky, Founder & CEO at Revolut said.

In the event that you hold no fiat currency in your account, Revolut will dynamically convert any cryptocurrency you hold within the app when using your card with the best possible rate.

In addition to allowing cryptocurrency to be purchased in all 25 base currencies, in an aim to eliminating foreign exchange fees, Revolut said it will introduce competitive rates with 1.5pc markup and no hidden fees.

Online Editors

Business Newsletter

Read the leading stories from the world of Business.

Also in Business