Revolut introduces 11 new cryptocurrencies as users flock to crypto trading

Revolut introduces 11 new cryptocurrencies as users flock to crypto trading

Savings and Investment

The new coins take the total available cryptocurrencies on Revolut’s platform to over 20.

Image source: Revolut

Digital banking service Revolut has taken yet another step closer to becoming a one-stop-shop for all of its users’ financial needs.

The fintech, which is well on its way to becoming a financial ‘super app’, has added 11 new cryptocurrencies for its UK and EU customers to trade, taking its total offered up to over 20 coins.

In a blog post, Revolut said: “You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies.”

Users will now be able to trade Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph, as well as the other 30+ cryptocurrencies already available on Revolut’s trading platform.

As it stands, Filecoin is the most expensive coin to be added, coming in at £ 110.42 per coin, while Cardano is the least expensive, currently sitting at around £0.88 per coin.

To help familiarise users with the new coins, Revolut also provided a short blurb about each new coin and reminded users of the risks and volatility surrounding cryptocurrencies.

Earlier this year, Revolut issued a warning to its customers about Ripple’s cryptocurrency XRP after several exchanges began delisting the electronic currency.

Despite warning its customers away from XRP, Revolut’s users could still trade the embattled coin as long as its partner exchange continues to allow it to do so.

Unlike other crypto wallets, Revolut’s users can’t actually remove their purchased coins from the Revolut app, rather they are held “in cold storage with some of the best custodians in the crypto game.”

A recent AltFi investigation has discovered that Revolut could potentially be sitting on a pile of crypto worth around $1bn and while users can’t actually remove their coins from their Revolut wallets, it’s a clear sign that crypto trading is increasingly popular for Revolut’s users.

Both stock and crypto trading has boomed over the past 12 months, even more so since the beginning of this year with the rise of ‘Meme Stocks’ and the Reddit vs Wall Street saga, which prompted the likes of Revolut to halt trading of certain stocks thanks to unexpected volatility.

UPDATE 09-04-2021 - A previous version of this article misstated the amount of cryptocurrencies available on Revolut’s trading platform.

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Duffy podcast aims to take cryptic out of crypto – Daily Business

Money advice

Jim Duffy: making cryptocurrency ‘less scary’

Scottish Cryptocurrency enthusiast and investor Jim Duffy has launched his debut podcast The Crypto Standard which looks to take the ‘cryptic out of crypto’.

Through a deep dive into all facets of the industry he looks at what it is, how to get started, and deciphers the industry lingo.

“This show is not about the usual Bitcoin and cryptocurrency “to the moon” male-oriented fraternity,” said the former head of the startup accelerator Entrepreneurial Spark.

“Rather, it is all about simplifying crypto for all to make it less scary, more understandable and more fun for a family audience. A huge thanks to Gokhshtein Media and Zumo for helping in this mission.”

With a view to being accessible to all, the show aims to make crypto a staple of the mainstream with more emphasis on how easy it is to get involved.

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Co-host and nephew Jordan stated: “The show is designed to be listened to by everyone from your grandson to your granny – crypto isn’t something that only a select few can get access to and for young people especially it’s a sector that is booming, while very normal.”

Indeed, amongst millennials especially, cryptocurrency shows no signs of slowing, with a recent Zumo consumer survey showing that over 50% of 18–24-year-olds believing it will be accepted as a form of payment in the next 10 years.

Zumo marketing director Amelie Arras said: “Our mission at Zumo is to make the benefit of blockchain and cryptocurrencies accessible for all. To do that, it means taking the cryptic out of crypto.

“It’s great to be working with Jim, together we will bring fun and accessibility to the space. I invite fellow women who are in the space to now contact us, and speak about their stories.”

David Gokhshtein, The Founder at Gokhshtein Media and CEO of PAC Protocol stated, “We at Gokhshtein Media are extremely passionate on making cryptocurrency a professional and well-recognised asset class.

“But, that takes time and great communication by all of us involved in this exciting new technology. Supporting the guys at crypto-standard in their podcast is exactly the right thing to do to help educate people in the power of cryptocurrency.”

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