Revolut Expands Its Offerings Down Under
In a bold move that’s sure to make waves, Revolut has turned its gaze to Australia and is now enabling local customers to dive into the world of cryptocurrency. As of September 3, the app has opened its digital doors for tens of thousands of Australian users to engage in buying, selling, and holding crypto assets. Imagine the possibilities! With tokens available like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, and Stellar (XLM), Australians can now hop on the crypto train without needing a PhD in blockchain technology.
Metal Heads Get Exclusive Features
Revolut has an intriguing twist for its ‘Metal plan’ subscribers. Not only can these users transfer their digital assets to other friends dabbling in crypto, but they can get a little crafty with their spare change. That’s right! With a simple round-up of credit card payments, you can effortlessly convert those extra pennies into Bitcoin. Who knew your coffee run could turn you into a crypto enthusiast?
Making Crypto Accessible
There’s a lot of head-scratching going on when it comes to buying and selling cryptocurrencies, especially for newcomers. Revolut’s CEO in Australia, Matt Baxby, points out that many Australians find this financial opportunity perplexing. As such, Revolut aims to make the acquisition of digital assets a hassle-free experience. No more needing a secret decoder ring to begin your investment journey!
A Glimpse into the Market
Before the official launch of Revolut, a whopping 30,000 people were already waiting in line, with 25,000 using the app’s beta version. That kind of buzz is hard to ignore! Moreover, in Europe, Revolut characterized itself as a crypto powerhouse with over a million users and 6,000 new accounts popping up daily. It seems like everyone wants a piece of the crypto pie!
Australia’s Growing Crypto Landscape
Australia is striding into the crypto spotlight, with the Australian dollar now ranking 17th globally in Bitcoin volume, according to CryptoCompare. Just imagine: the country recorded 528 BTC traded, which amounts to around $6 million in a single day! But hold your horses, the AUD is often merely an entrance ramp for traders, with far more significant exchanges happening between various cryptocurrencies, indicating a bustling crypto scene.
Big Players Eye Australia
It’s not just Revolut making headlines; major exchanges are keen on the Aussie market too! Kraken snapped up Bit Trade earlier this year, marking a strategic move into the local crypto exchange arena. Meanwhile, Binance sets its sights on growth, launching a fiat-to-crypto platform specifically for Australian traders. And for future-minded investors, Gemini is also in the game, adding support for AUD trades, even though they lack a physical presence in Australia.
Final Thoughts
The Australian crypto landscape is a thrilling one, evolving with each passing month, and the arrival of Revolut only adds more fuel to the fire. Whether you’re an experienced trader or a curious newcomer, it seems like there’s never been a better time to get into crypto in the land Down Under!
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