Revolut X: Expanding Cryptocurrencies Access in Europe
Revolut, the cryptocurrency-friendly neobank, has made significant strides in the European crypto market with the launch of Revolut X. This platform extends its dedicated services to professional crypto traders across 30 new markets in the European Economic Area (EEA). Following its initial success in the UK, Revolut X is now poised to offer deep and broad cryptocurrency trading capabilities to EEA customers, marking a significant expansion in the company’s crypto journey.
The Expansion Follows Revolut X’s Debut in the UK
Revolut X made its inaugural appearance in the UK in May, setting the stage for its broader European rollout. This dedicated crypto exchange, developed solely by Revolut, specifically targets seasoned crypto traders, yet remains accessible to retail customers. Much like its UK counterpart, the EEA iteration of Revolut X caters to experienced traders, offering advanced trading features aimed at enhancing the trading experience.
Within its structure, Revolut X maintains a competitive fee model. It charges zero fees for maker orders, appealing to traders who prioritize cost-effectiveness over speed. Taker orders, executed instantly, incur a nominal fee of 0.09%, applicable regardless of the trading volume. This pricing approach reflects Revolut’s commitment to providing a robust, equitable trading environment for its users.
Revolut X Users Must Have an EEA or UK-Based Revolut Account
To engage with Revolut X, customers must hold a Revolut account based within the EEA or the UK. The platform offers an array of trading features designed to support both novice and expert traders. Services include real-time trading, sophisticated analytics, and integration with TradingView’s monitoring tools, providing a comprehensive overview through advanced dashboards.
Revolut X prides itself on robust security measures, which include extensive cold storage of funds, though specifics on cold storage proportions remain undisclosed. The platform’s 24/7 customer support and stringent risk monitoring tools work tirelessly to maintain user account security. Trusted custodianship is ensured through rigorous due diligence processes, underscoring Revolut’s dedication to safeguarding customer assets.
Implications of Revolut X’s European Expansion
Revolut X’s expansion into Europe signifies an important step in the neobank’s engagement with the crypto industry. This move is part of a larger strategy that includes initiatives like Revolut Ramp, which allows seamless cryptocurrency purchases directly into users’ wallets through partnerships with major platforms like MetaMask and Ledger.
This expansion reflects Revolut’s philosophy of a borderless financial world and aligns with their mission to facilitate financial freedom. Revolut’s Head of Crypto Exchange Product, Leonid Bashlykov, emphasized the company’s commitment to providing a competitive alternative in the crypto trading space, highlighting the platform’s potential to challenge established market players.
Conclusion
Revolut X’s expansion into 30 new EEA markets demonstrates its ambition to not only participate in but also shape the crypto trading landscape in Europe. By offering advanced trading features, competitive pricing, and robust security, Revolut aims to integrate seamlessly into the lives of crypto enthusiasts and professionals alike, contributing to a future of financial autonomy and innovation.
For more insights on cryptocurrency markets and trading platforms, resources such as Cointelegraph and Investopedia can be useful.
FAQ
What is Revolut X?
Revolut X is a dedicated cryptocurrency exchange platform by Revolut, designed primarily for professional crypto traders, offering advanced trading features and access to over 200 cryptocurrencies.
Who can use Revolut X?
Revolut X is available to customers with a Revolut account based in the EEA or the UK.
What are the fees associated with Revolut X?
Revolut X offers zero fees for maker orders. Taker orders are charged a fee of 0.09%, regardless of trading volume.
How does Revolut X ensure the security of user funds?
Revolut X uses cold storage for the majority of its funds and has implemented robust risk monitoring tools and carefully selected custodians through due diligence processes to ensure the security of user assets.
