Key Takeaways:
- Revolut X Launch: Revolut has launched Revolut X, a new crypto trading platform for U.K. retail users, featuring easy fiat-to-crypto conversions and competitive fees, with no maker fees and only 0.09% for takers.
- Accessible Trading: The platform supports trading in over 100 cryptocurrencies and allows existing Revolut users to trade using their current accounts on a user-friendly desktop interface.
- Strategic Expansion: This initiative marks a strategic push by Revolut into the crypto market, complementing their recent offerings like Revolut Ramp and showcasing a renewed commitment to crypto services amidst previous regulatory challenges.
Revolut recently announced the launch of Revolut X, a new cryptocurrency trading platform specifically tailored for U.K. retail users.
This move marks a significant step in the fintech company’s strategy, particularly targeting U.K. residents with competitive features designed to attract seasoned crypto traders.
BREAKING:
— WhaleFUD (@WhaleFUD) May 7, 2024
Revolut announced its new Revolut X crypto trading platform for U.K.
Revolut X was officially launced on May 7.
It differentiates itself from other cryptocurrency exchanges by providing its users with straightforward fiat-to-crypto and crypto-to-fiat conversion processes, known as “on-ramping” and “off-ramping.”
These features are geared towards making the platform accessible and efficient, supporting seamless transitions between GBP and various cryptocurrencies.
Revolut has launched a crypto trading platform!
— CryptoPotato Official (@Crypto_Potato) May 7, 2024
-> The standalone crypto exchange is called Revolut X and is available to #UK retail customers
-> @RevolutApp claims that the new platform will offer low fees and easy on and off-ramping pic.twitter.com/DVHi7xJjST
One of the most compelling aspects of Revolut X is its fee structure, which is highly competitive.
The platform charges no fees to makers and a modest 0.09% to takers, irrespective of the trading volume.
This pricing is aimed at undercutting many of the current market leaders and providing a cost-effective alternative for crypto trading.
Revolut launches standalone crypto trading platform for UK retail customers https://t.co/OXh5Qh7t6Y
— The Block (@TheBlock__) May 7, 2024
Leonid Bashlykov, Revolut’s head of crypto exchange product, expressed his enthusiasm about the new platform, stating that they are excited to launch a product that will change the game for experienced crypto traders.
Bashlykov highlighted the importance of competitive fees and the ease of transitioning between different currencies as central to the needs of advanced traders.
At its inception, Revolut X offers trading opportunities in over 100 cryptocurrencies, including well-known options like Bitcoin, Ether, and XRP, with plans to expand this offering in the future.
Revolut launches crypto trading platform Revolut X@RevolutApp introduces "Revolut X" in the UK, a dedicated crypto trading platform targeting professional traders. 🇬🇧
— Satoshi Club (@esatoshiclub) May 7, 2024
Available from today, users can trade over 100 tokens with 0% maker and 0.09% taker fees.
The platform is not just for the seasoned traders; it is accessible to any U.K. retail users who have a Revolut account.
They can use their existing credentials to trade on the Revolut X desktop interface without facing any additional fees or restrictions.
This launch is part of Revolut’s broader strategy to reintegrate into the cryptocurrency market, especially after scaling back its crypto services in the U.K. and the U.S. in response to regulatory challenges.
🧑‍🎓The Professor's News Flash: Decrypting the World of Crypto: 📰
— The Crypto Professor (@TheCryptoProfes) May 7, 2024
🔹London-based digital bank Revolut has launched a standalone crypto exchange called Revolut X
🔹Aims to compete directly with leading crypto exchanges by offering lower trading fees, with zero fees for trade… pic.twitter.com/ZXrsXrWpAC
The company, which has been a significant player in the U.K.’s fintech landscape since its inception in 2015, initially ventured into cryptocurrencies in 2017.
The introduction of Revolut X, along with the recent launch of Revolut Ramp—a service that facilitates crypto purchases through Web3 wallets in collaboration with Consensys—signals a robust recommitment to the cryptocurrency sector by Revolut, despite past regulatory hurdles.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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