Revolut, the fintech app that boasts as many as 20 million customers worldwide, today announced the addition of 22 new tokens, reaching more than 80 supported cryptocurrencies.
Revolut expands number of supported crypto for trading
The new cryptocurrencies announced today are available to all customers in the UK and EU, and include the tokens APECOIN, REQ, ETC, CLV, FORTH, AVAX, SAND, GALA, AXS, JASMY, ENS, DASH, FLOW, IMX, CRO, IDEX, REN, SPELL, PERP, BICO, COTI, and finally MLN.
During 2021, the number of cryptocurrencies available in Revolut‘s app had already increased 6-fold, from 10 tokens available at the beginning of the year to 60 at the end of the year. Now, in 2022, the number of tokens available in the Revolut app has been expanded by an additional 22 tokens to more than 80.
Emil Urmanshin, Crypto General Manager of Revolut, said:
“It’s another great year for cryptocurrencies, and we have decided to further boost our offerings, enabling people to take more control of their finances and giving them secure access to new tools and services built in the crypto world.”
For those who want to trade cryptocurrencies, stop losses or order limits can be set from the Revolut app so that they do not have to check the market trend every second. In addition, the recurring buy function can be used to reduce volatility. Customers can also set aside savings by automatically converting them into a cryptocurrency of their choice.
Revolut and cryptocurrencies in Italy
There is growing interest in cryptocurrencies in Italy: the number of customers who bought cryptocurrencies on Revolut in July this year grew by +20% compared to the same period last year.
The 5 most popular tokens that Italians held in their wallets in July were Bitcoin (BTC, 36%), Ethereum (ETH, 27%), Ripple (XRP, 5%), Cardano (ADA, 4%) and Solana (SOL, 3%).
The feature to trade crypto on Revolut is available to all standard and non-standard customers. However, those with the standard fee plan will have higher fees for trading cryptocurrencies.
For customers with the Metal fee plan, although for now only in the United Kingdom, Revolut has released a program to withdraw Bitcoin.
The company plans to introduce cryptocurrency withdrawals in Europe as well and allow customers to send their tokens from Revolut to external wallets and exchanges.
Revolut warns about cryptocurrency risks
In the press release, the company reminds its customers that cryptocurrencies are not regulated and are not protected by clearing schemes, which is why capital is at great risk.
The risk also increases due to asset volatility.
The fintech company states:
“Although Revolut believes in expanding access to cryptocurrencies, such activity may not be appropriate for everyone, the company encourages its clients to research the various cryptocurrencies and the risks and opportunities before buying or selling”.