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RE: Revolut Not That Friendly For Crypto

in #bitcoin6 years ago

Agreed for now, true cryptocurrency ownership via Revolut isn't acheivable, but my understanding, they are working on a solution. I think Revolut does a fairly good job for beginners in terms of dabbling with cryptocurrencies and to have exposure to it. If one has explored deeper into the tech behind cryptocurrency ownership, there is a whole slew of technical challenges and options. For your cryptocurrency to be fully secure, it's preferable to use a hardware wallet like Trezor or Ledger etc. and even so, it can be a whole lot of effort than it's worth for your non-technical minded user. For example, it's a couple of smart phone app screen taps and you can instantly buy or sell compared to how much hassle it is at present to deposit to GDAX for free, wait three days, then buy your crypto. Right now that is a big trade off but I'm sure the Revolut team will solve this. I've used Revolut for 1.5+ years without much issues and trust the direction the company is heading. There are plenty of ICOs and other Fintech companies in the space which will attempt to solve this FIAT->Crypto on-ramping, so Im sure Revolut would not want to let this first mover advantage slip

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