Revolut Launches Easiest & Fastest way to Buy Cryptocurrency

Silvester89

I've recently started investing in Ethereum after making the decision to invest some money in a Bitcoin alternative.

Up till now I've been using Coinbase - but it seems Revolut are about to start supporting Bitcoin, Litecoin and Ethereum.

I personally think this is great news as Revolut have said they will be significantly cheaper, they will make it easier for people to invest and hopefully this will help push up the price as it will make it easier for people to get into!

When it opens up to everyone, I think I'll ditch coinbase altogether in favour of Revolut.

For those investing in Bitcoin or alternatives, what are your thoughts?

It’s finally here! After months of blood, sweat and tears, Revolut customers will now be able to buy, hold and exchange Bitcoin, Litecoin and Ethereum in just 30 seconds at the best possible rates.

We wanted to open up cryptocurrency exposure to everyone and not just the enthusiasts. We’ve simplified the complex signup process, removed the high fees and brought cryptocurrency exposure to everyone at the touch of a button.

Source: https://blog.revolut.com/revolut-launches-easiest-fastest-way-to-buy-cryptocurrencies/

Zola.

Interesting!

I use Monzo which is very similar to revolut, I wonder if they will join in also.

DennisTenus

I've been trying to buy via Coinbase for ages but can't get it to accept my ID passport or driving license and support is impossible!

Silvester89

DennisTenus wrote: »

I've been trying to buy via Coinbase for ages but can't get it to accept my ID passport or driving license and support is impossible!

Strange. I found it dead straight forward. Took a photo of my driving license and it was approved in minutes.

I'm just really put off by a few things with coinbase. They just seem a bit expensive and slow when it comes to processing some payments. In comparison, Revolut don't hammer you with fees, they have good support in place and their app is easy to use. I just know Revolut will offer a service that is a million times better!

DennisTenus

Silvester89 wrote: »

Strange. I found it dead straight forward. Took a photo of my driving license and it was approved in minutes.

I'm just really put off by a few things with coinbase. They just seem a bit expensive and slow when it comes to processing some payments. In comparison, Revolut don't hammer you with fees, they have good support in place and their app is easy to use. I just know Revolut will offer a service that is a million times better!

I agree but it concerns me a little that the BTC or ETH or whatever would be locked into Revolut and you can't get it out/transfer to another wallet online or offline? Unless I misunderstood....

BananaRepublic

An article in the Sunday Times today says Bitcoin is almost useless as a currency as it's so volatile. :shocked:

Silvester89

DennisTenus wrote: »

I agree but it concerns me a little that the BTC or ETH or whatever would be locked into Revolut and you can't get it out/transfer to another wallet online or offline? Unless I misunderstood....

That seems to be the case, atleast for now. I got the impression from something I read from Revolut that this may change in the future. I imagine in the future you will get a wallet address held with revolut. A bit like you've got virtual account details now.

greenglide

BananaRepublic wrote: »

An article in the Sunday Times today says Bitcoin is almost useless as a currency as it's so volatile. :shocked:

Yes. I find it a strange situation where people are "investing" in a "currency" be a use they want a significant return.

So previously the same people would have "invested" in US$, GB£, €, ¥ etc?

Unless the crypto currencies can become stable and run alongside or replace the national currencies (I hate the term "fiat" currencies, the name is an Italian car company!) they use be limited for "normal" transactions.

You get paid in bit coin and go to the pub and by the time you get there the price has changed by 10% up or down.

Really?

realaledrinker

New board needed for Cryptocurrencies.

Presently too many threads being started in what is supposed to be a board aimed at , and I quote, "Savings and Investments".

redux

BananaRepublic wrote: »

An article in the Sunday Times today says Bitcoin is almost useless as a currency as it's so volatile. :shocked:

There is a paradox that the people the keenest to promote it want to suggest it can become a universal currency, yet they also want it to appreciate.

I worked out for my comment on another thread that if it carries on multiplying by as much as it has this year, in 6 years time all the Bitcoims will be worth 1000 times as much as all the other wealth in the world.

That means if I convert my current £15 on Revolut it would be worth £250 million by then

About enough for a round of drinks.

Reaper

It's a mistake to think of them as currency. They are (at least for now) better thought of as a commodity like gold, silver or oil.

Even more so than traditional commodities their value depends on sentiment rather than any intrinsic value.

Maybe one day one of them will become a true currency, but not now.