Today promises to be a turning point for the crypto sphere in Europe: financial platform Revolut has expanded its crypto trading capabilities, making it available in 30 countries at once. This move seems to be a breakthrough not only for crypto enthusiasts, but also for the entire digital economy of the region. According to one of the company's top managers, "feedback from experienced traders has been extremely positive." But should the average investor rejoice?
Revolut and its bet on cryptocurrencies
Revolut is known for its commitment to innovation and its ever-expanding range of financial services. For the crypto industry, this news is like a rocket launch into space: broad access to cryptocurrencies in dozens of countries at once. It is clear that Revolut intends to capture a significant share of this market, which has been growing by more than 20% per year in recent years.
However, as always, the question arises: how is this beneficial for the trader himself? For some, this is another opportunity to boost their portfolio, and for others, it is a convenient chance to try themselves in crypto with minimal investment. But will it be that easy?
How is trading on Revolut different from crypto exchanges?
The first thing that catches your eye is the fact that, unlike specialized crypto exchanges like Binance or Coinbase, Revolut offers so-called custodial wallets. This means that users do not control their private keys and therefore only have “virtual” ownership of their assets. For experienced players, this may seem like a minus, but for beginners, this model reduces security risks.
In addition, users have access to a fairly narrow selection of cryptocurrencies (although there are already significantly more of them than a year ago). This is due rather to the caution of the platform itself and its desire to reduce the likelihood of "leaks" typical for many altcoins.
Revolut – competition for crypto exchanges or a new format for investors?
For big players and professional traders, Revolut does not yet represent significant competition to Binance or Bybit. Those who prefer active trading already know where to look for liquidity and low fees. However, Revolut is more about convenience and simplicity: the platform is aimed at the "new wave" of investors, those who are looking for a quick and clear opportunity to join the crypto market.
The benefits of Revolut are not in the trading tools, but in the multifunctionality of the app itself. Cryptocurrencies are just one of many options on the platform, which allows users to combine banking, investment and insurance services in one place. In essence, Revolut is a kind of Swiss knife of the financial industry, which can become popular among the masses due to its simplicity and accessibility.
How safe is it to use Revolut for long-term investing?
Experienced traders understand that long-term investments require complete confidence in the platform’s security. Revolut provides funds in the form of derivatives, which, of course, reduces risks, but at the same time limits the owners. And although the platform meets many security standards, for those who prefer full control over assets, using a custodial service may not be enough.
On the other hand, for those who prefer to hold currencies like BTC or ETH for the long term, Revolut may be a good option. With its high security standards and integration into the European financial ecosystem, it can provide stability and support in any market conditions.
Should You Switch to Revolut for Crypto Trading?
Revolut is expanding access to cryptocurrencies in Europe, which is certainly good news. It opens up new horizons for those who are just getting acquainted with cryptocurrencies and could be the beginning of a global change in the approach to finance. However, for experienced traders, this news is unlikely to bring significant changes, as specialized exchanges remain more profitable for active trading.
But who knows, maybe this news will push other major players to take similar steps? Time will tell.
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