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Revolut launches bitcoin withdrawal with more tokens to come in near future


London fintech Revolut has launched bitcoin withdrawal, and said that they will add more tokens in the near future. With this, Revolut will offer the exchange of currencies with no hidden fees including cryptocurrencies & gold. 

The company has over 15 million customers and 500,000 business customers across 35 countries, with 100 million transactions per month. It also provides 30 in-app currencies for exchange.

Soft-launch gets validation

While, the company removed the announcement post quickly, but our folks at Altfi captured the announcement post.

A Revolut spokesperson has confirmed the announcement in an email to Forbes, stating, “We’re launching next Thursday. Unfortunately, the blog went up a little too soon”.

The Revolut spokesperson also admitted that a scheduling error sent out the announcement sooner than it was supposed to.

Revolut will begin offering bitcoin withdrawals next week and add more tokens and upgrades in the future, the spokesperson said. Currently, the mobile app allows users to buy and sell 22 different cryptocurrencies. 

BTC withdrawals not available on PayPal and Robinhood

With this, Revolut will become one of the major cryptocurrency mobile apps now offering bitcoin withdrawals. PayPal and Robinhood both are not allowing withdrawals of crypto currently.

PayPal has recently also joined the fray by offering cryptocurrency transactions, including allowing users to purchase bitcoin directly from PayPal. Popular mobile payment service Venmo, which is owned by PayPal, now offers crypto transactions. But users cannot withdraw crypto off the mobile app. 

The additional feature has already pleased some Revolut users, with a user tweeting “Just got access to Revolut App crypto withdrawal function and it works fairly well. The only thing I would say they have to change is the 3 max address. It is bad to use the same address more than once on BTC. 9 out 10 and a step in the right direction for sure.”