Fintech startup Revolut is adding Bitcoin Cash and Ripple to its cryptocurrency feature. While cryptocurrency isn’t really Revolut’s focus point, it’s a good way to get started with cryptocurrencies.
If you have a Revolut account, you can now buy and hold Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin Cash. Behind the scene, the startup has partnered with Bitstamp to process the transactions. Revolut currently charges a 1.5 percent fee for cryptocurrency transactions. There are currently 100,000 cryptocurrency transactions per day.
Compared to a traditional cryptocurrency exchange, you can’t send or receive cryptocurrencies from your Revolut account. You don’t get a bitcoin address for instance. All you can do is buy tokens in the app. If you want to transfer those tokens somewhere else, you’ll have to sell them for USD, GBP, etc. and then buy cryptocurrencies on a traditional exchange using your fiat money.
Recently, the startup also announced a new feature called Vaults. Revolut users can set...