In financial news, Revolut will enable Bitcoin withdrawal. Up until now you could easily buy crypto on the platform but there was no way to trade it, you had to sell it back in fiat, triggering yet another platform fee and a taxable event.
As of next Thursday, Revolut UK customers using their Revolut Metal premium account will be allowed to withdraw bitcoin to another BTC wallet outside the Revolut ecosystem, altfi and the Financial Times reported. It will start small-scale, in “beta mode”, with withdrawals restricted to GBP 500 a day or GBP 1,000 a month, they added.
I read in another article that Revolut has big aspirations of becoming a serious internet bank, the biggest in the world but has been struggling to get profitable months on the calendar. These past few months had been profitable and it’s all due to the crypto bull market.
I suggest you still don’t use Revolut as your main crypto exchange, even if you qualify for the beta (UK, metal premium account.) But it’s still one of the easiest platforms to buy crypto on, I admit I like the clean statistics screen (It also keeps track of when you bought and sold, so you can easily see if you’re in the red or green,) and if you’re already using it for your daily transactions it makes total sense to just buy some crypto on it. Sign up for Revolut here.