Revolut Metal pays you back in crypto
Crypto

Revolut Metal pays you back in crypto

By Fabio Lugano - 22 Aug 2018

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Revolut is a system of prepaid payment cards that is proposed as a complete alternative to the banking system. In its latest evolution, Revolut Metal, alongside a series of advantages and services typical of the credit card system, offers a cashback system that basically repays the user if they decide to spend and does so with a refund of 1%, which includes bitcoin, litecoin and ether.

This is an absolute novelty for the world of credit cards: there are already numerous services that can connect crypto wallets to a card through exchange services but, in this case, the service operates in the opposite way, from the world of ordinary finance to that of cryptocurrencies.

In short, a traditional payment and financial service is linked to virtual currencies, favouring the spread of cryptocurrencies.

Revolut Metal also has other very special features: for example, the card is metallic, contactless and provides concierge services, the ability to operate in the FX market and travel insurance policies that are usually reserved for high-level credit cards.

Another novelty for the Revolut Metal is the increase in the number of possible withdrawal without commission costs in a month: it goes from $400 with the Premium service to $600 with Metal.

Obviously, these features also increase the monthly subscription price for the use of the card, from $6.99 to $12.99.

The expansion in the use and interest of virtual currencies will lead to increasing connections with more traditional financial services.

In this case, cryptocurrencies are used as an additional service of exchange, but soon we will also see the use of the same for promotional purposes.

It would not be surprising to see credit card loyalty points converted into autonomous currencies.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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