Revolut Expands Cryptocurrency Services to All Users Amid Economic Turmoil

Revolut’s Bold Move

In a surprising twist, Revolut, the popular digital banking app, has unlocked its cryptocurrency services for all standard users earlier than anticipated. This decision comes as the global economic crisis reshapes financial landscapes, leaving many looking for steady ground in unsteady times. As of now, all users can dive into the crypto waters with a straightforward 1.5% fee per trade. Who knows, this might just be the perfect time to channel your inner crypto baron.

A Cautionary Note

In light of current financial chaos, including the fallout from the COVID-19 pandemic, Revolut is sounding the alarm. Their email to users emphasizes the urgency of their decision, stating, “We are starting to see quantitative easing and currency devaluation happening again right now.” It’s like a shiny new toy that comes with a warning label. This move aims to help users explore different avenues for diversification, especially when currency stability seems as reliable as a politician’s promise.

The QE Debate

Expect some lively debates, as the concept of Quantitative Easing (QE) re-emerges in discussions. Initiated post-2008 financial crisis, QE involves central banks purchasing government bonds to encourage spending by lowering interest rates. Sounds great, right? Well, not everyone is on board. Critics, particularly in the crypto sphere, view QE as a villain in the tale of modern economics. Caitlin Long, founder of Avanti Bank, isn’t shy about her critiques, declaring, “The last vestige of #capitalism [has] died in the U.S.” Looks like Revolut’s crypto expansion is stirring the pot, and folks have some opinions!

Revolut’s Crypto Evolution

Revolut’s adventure with cryptocurrency isn’t a recent development. They began their foray into the space back in late 2017 by supporting Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). Fast forward, and the app has climbed the ranks to become one of Europe’s most prominent fintech companies. The company even made its U.S. debut last month…minus the crypto feature initially. Talk about a cliffhanger!

The Path Forward

As they expand their crypto offerings, Revolut isn’t stopping with Bitcoin and friends. By the end of this month, standard users can look forward to gold trading becoming available. However, a heads-up—the fee for crypto trading is set to rise to 2.5% for standard users in May. So, if you’re trying to ride the crypto wave, perhaps consider diving in sooner! Though one might wonder, with all these fees, is our investment just a few steps away from becoming more of a pay-per-view event?