There is no doubt that the way we bank is changing. With the advent of digital banking, more and more people are moving away from traditional banking methods and opting for online alternatives. One of the most popular digital banking services is Revolut. In this article, we will discuss the advantages of using Revolut and why it might be the future of banking!
Revolut is a digital banking service that offers users a whole host of advantages over traditional banks. Founded in 2015, Revolut has since amassed over 18 million customers worldwide! It was started by Nikolay Storonsky and Vlad Yatsenko. It provides accounts with currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing “vaults,” commission-free stock trading, crypto, commodities, and other services.
There are many advantages to using Revolut, but we will discuss just a few here. First and foremost, Revolut offers great rates on foreign currency exchange. If you are someone who frequently travels or makes international purchases, this can be a huge advantage! Additionally, Revolut offers commission-free stock trading. This is a great benefit for anyone who is looking to invest in the stock market without having to pay pesky commissions! It has made a name for itself as being one of the most user-friendly digital banking services available, with a sleek app interface and easy-to-use features.
Revolut offers banking services including GBP and EUR bank accounts, debit cards, free currency exchange, stock trading, cryptocurrency exchange, and peer-to-peer payments. Revolut’s mobile app allows you to make purchases and withdraw money from ATMs in 120 different currencies while transferring funds in 29 different currencies directly through the app
Revolut also allows its users to access cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple by exchanging with 25 fiat currencies. A fee of 1.5 percent is charged for trading in or out. Only crypto can be converted back to fiat inside Revolut; there are no deposits or withdrawals possible with any of the five cryptocurrencies supported.
It allows users to trade equities, with access to a variety of US equities and fractional share purchases/sales. Stocks acquired through the app cannot be transferred to another firm, but must be sold/converted back to cash before being withdrawn.
In conclusion, there are many advantages to using Revolut. It is a user-friendly digital banking service with great rates on foreign currency exchange and commission-free stock trading. Additionally, it offers users the ability to buy and sell crypto. If you are looking for a digital banking alternative, Revolut is definitely worth checking out!