According to the Business Insider, Bitcoin, which is currently the most widely accepted cryptocurrency has been in existence since 2009. In just 10 years of existence, the entire world has been literally rocked to its core by the activities of blockchain enthusiasts, crypto currency and affiliated businesses. In the space between those ten years, there has been a lot of work done in the crypto-sphere; new ways of leveraging the potential of blockchain arose and what makes it even more amazing is that we're still considered as early adopters. Currencies like Ethereum, Steem, Ripple etc. all came into existence within that ten year period and each of these tokens represent some sort of value within their blockchain, liquidity and most importantly, are means of transaction.
One major issue with the world of crypto has been adoption. The challenge has been basically about how we can inject them into our daily lives, whether it be through paying for online services or making ATM withdrawals(directly converting to fiat) etc, there is a prevalent need for this sort of service that will take crypto to the next level and cut out the sneaky banks.
“We need banking but we don’t need banks anymore. Do you think someday we can open bank account or ask for loan without physically have to come to the bank?”-Bill Gates, 1990
Introducing Revolut
We’re here for those who refuse to settle. Who never stop moving forwards. Who continue to search for new ideas and better experiences in everything they do. Because today’s hyper-connected world deserves a financial partner just as progressive.One that adapts to your needs, gives you control and constantly pushes you into new exciting spaces. Global spending and transfers without rubbish exchange rates. Whether you’re running a business or running out for bread, Revolut is building a global bank to suit your lifestyle. Welcome to a world Beyond Banking. Welcome to Revolut. (source)
Revolut was launched in July, 2015. The platform was created to open a portal that seamlessly injects crypto into our daily lives. Revolut is next level banking and is already used in many countries as a payment solution with crypto currency as the legal tender.
Revolut developed a crypto asset management platform that facilitates utilisation of crypto currencies through a seamless exchange. The platform developed a crypto-debit card and a mobile phone app that can be used for typical transactions.
Creating an Account
Note: Revolut services is limited to some countries, you can click here to check if your country is available
If you've confirmed your country's available, you can create a free account in a minute. Below is an instructional video that explains the process
About Revolut
Here are some of the services offered by Revolut
- Hassle free account creation: The account creation procedure is fast and easy
- More Control: Creating an account with Revolut gives you a better control of your assets, as compared to regular banks. You will be able to see where you spend your money, manage your resources and even design a budget that suits your lifestyle using this platform. You can also set your account to make recurrent payments.
- An account that helps you save: Rounds up every card payment to the nearest whole number, and stashes your spare change away and help you save for your goals.
- Access Funds Wherever you go: One of the best part about using this service is the fact that you can access your funds anywhere Revolut services are available. Unlike typical banks that charge you for using funds abroad, Revolut has no such charge.
- Send And Receive Funds Easily: With this service, you can easily send and receive funds.
- Security: You can be rest assured that your funds are secure
- Real-time Exchange: With this platform, you will have easy access to real time values and can easily trade over 29 currencies against Bitcoin, Eth, Litecoin etc.
Revolut Accounts
Here are the types of accounts and their benefits
STANDARD(Free)
- Free UK current account
- Free Euro IBAN account
- Spend in over 150 currencies at the interbank exchange rate
- No fee exchange in 29 fiat currencies up to £5,000per month
- No fee ATM withdrawals up to £200 per month
PREMIUM(£6.99/m)
- Free UK current account
- Free Euro IBAN account
- Spend in over 150 currencies at the interbank exchange rate
- Unlimited exchange in 29 fiat currencies - no monthly limit
- No fee ATM withdrawals up to £400 per month
- Overseas medical insurance
- Delayed baggage & delayed flight insurance
- Global express delivery
- Priority customer support
- Instant access to 5 cryptocurrencies
- Premium card with exclusive designs
- Disposable virtual cards
- LoungeKey Pass access
METAL(£12.99/m)
- Free UK current account
- Free Euro IBAN account
- Spend in over 150 currencies at the interbank exchange rate
- Unlimited exchange in 29 fiat currencies - no monthly limit
- No fee ATM withdrawals up to £600 per month
- Overseas medical insurance
- Delayed baggage & delayed flight insurance
- Global express delivery
- Priority customer support
- Instant access to 5 cryptocurrencies
- Exclusive Revolut Metal card
- Disposable virtual cards
- LoungeKey Pass access
- 0.1% cashback within Europe and 1% outside Europe on all card payments
- Exclusive concierge service
Summary:
Revolut is a brilliant way of leveraging cryptocurrencies and implementing them into our lives. Sadly, their services aren't available in my country and seems to be restricted to users in Europe but I guess as time goes on, more countries will be included. The charges are fair and flexible for both low and high spenders.
DISCLAIMER
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.