In a strategic move to strengthen its position in the cryptocurrency market, financial technology giant Revolut has expanded its dedicated crypto trading platform, Revolut X, across 30 markets in the European Economic Area (EEA). This expansion, announced just a few months after its debut in the United Kingdom, highlights Revolut’s commitment to making cryptocurrency trading accessible to more customers, while providing professional-level tools and robust security.
With this launch, Revolut X enables seasoned crypto traders across Europe to trade over 200 cryptocurrencies directly from their Revolut accounts. Here’s a breakdown of what this expansion means, the features offered by Revolut X, and how it stacks up against other crypto exchanges.
Also read: US Crypto Future Looks Promising, Says Andreessen Horowitz
What Is Revolut X?
Revolut X is a cryptocurrency trading platform developed by Revolut that caters specifically to advanced crypto traders. It aims to provide an enhanced trading experience by offering real-time trading, advanced analytics, and other professional-grade tools such as TradingView monitoring, advanced dashboards, and analytics features.
Initially launched in the United Kingdom in May, Revolut X is designed to be a more sophisticated platform for Revolut’s existing customer base, with support for retail users who want to engage in crypto trading. However, its range of advanced features and competitive fees makes it particularly attractive for those with prior experience in crypto trading.
Key Features of Revolut X
Revolut X differentiates itself with several unique features designed to meet the needs of seasoned traders:
- Wide Selection of Cryptocurrencies: Revolut X offers access to more than 200 cryptocurrencies and tokens, allowing traders a diverse range of options. This includes popular coins like Bitcoin and Ethereum as well as a variety of altcoins, helping users explore new assets within their Revolut account.
- Professional Trading Tools: Traders on Revolut X have access to advanced analytics tools, including TradingView, which provides real-time data, charting, and monitoring capabilities. This functionality is crucial for traders seeking precise control and analysis over their investment strategies.
- Competitive Fee Structure: Revolut X charges no fees for maker orders, encouraging users to place limit orders that contribute to market liquidity. For taker orders—those that match existing orders and execute instantly—the platform charges a flat 0.09% fee, regardless of the transaction volume. This straightforward fee structure offers transparency and is competitively priced when compared to other exchanges.
- 24/7 Customer Support: Customer support is available around the clock, a significant advantage for traders in need of assistance at any time. Revolut’s commitment to user support enhances the appeal of the platform, especially for those trading in the fast-paced crypto markets.
- Robust Security Measures: Revolut has implemented stringent security features to protect users’ assets. A significant portion of assets on Revolut X is stored in cold storage, a security measure that minimizes the risk of hacking. Revolut also boasts advanced risk-monitoring tools designed to detect and prevent account takeovers, and partners with trusted custodians after thorough due diligence.
Expansion into 30 European Markets
This new expansion brings Revolut X’s offerings to a large portion of the European continent. Residents in EEA countries, including Belgium, Cyprus, Denmark, and 27 others, now have access to the platform’s full suite of features. This expansion reinforces Revolut’s aim to make crypto trading accessible across Europe, positioning itself as a viable alternative to more established cryptocurrency exchanges.
To access Revolut X, users in these regions need an EEA or UK-based Revolut account. This prerequisite simplifies the onboarding process, as existing Revolut users can start trading on Revolut X immediately without the need to open a separate account.
Security and Compliance in Revolut X’s Operations
With Revolut’s expansion into new territories, security and compliance remain top priorities. Revolut X employs market-leading risk monitoring tools, ensuring that suspicious activities are flagged and prevented promptly. The company selects custodians with careful consideration to protect customer assets and utilizes cold storage for the majority of its funds, safeguarding assets from potential cyber threats.
Revolut X’s recent introduction of Revolut Ramp further strengthens its position in the crypto space. This feature enables users to purchase cryptocurrency directly into their wallets, thanks to partnerships with prominent crypto platforms such as MetaMask and Ledger, which are well-regarded for their secure wallet solutions. These integrations allow Revolut X users to maintain greater control over their assets and transactions, reflecting Revolut’s focus on a secure user experience.
Competing with Established Exchanges: How Revolut X Stands Out
The expansion of Revolut X intensifies competition with well-established crypto exchanges like Binance, Coinbase, and Kraken. Revolut’s advantage lies in its seamless integration with Revolut accounts, which allows for a unified banking and trading experience. This ease of use can be particularly appealing for Revolut’s existing user base, offering convenience that is not as readily available on other platforms.
Additionally, the lower fees for taker orders and no fees for maker orders make Revolut X competitive, especially for high-volume traders who prioritize low transaction costs. While some of the established exchanges offer a wider range of features and even lower fees at certain volumes, Revolut’s strong security infrastructure and focus on simplicity provide a compelling value proposition for traders who prioritize both security and efficiency.
The Future of Revolut X: What’s Next?
Revolut’s commitment to innovation and expansion in the crypto space signals its ambition to become a major player in the financial technology landscape. The expansion of Revolut X into new European markets aligns with the company’s vision of banking without borders, aiming to make financial services more accessible globally. With its focus on customer security, competitive fees, and advanced trading tools, Revolut X is likely to attract a substantial user base of both experienced and novice traders alike.
In the future, Revolut could look to introduce new features, such as staking or lending options, which have become popular on other platforms. The company might also explore additional partnerships with wallet providers or financial institutions to further improve the user experience and security of its crypto offerings.
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