What is a Neobank? Revolut Will Let Its Customers Convert and Hold Bitcoin and Other Cryptocurrencies Directly in Their Accounts
What the heck is a Neobank? Glad you asked!
It is a business that is technically not a bank because it does not have a banking license, however it offers many traditional features of a traditional bank such as checking accounts.
Revolut is a British Neobank that will allow customers to buy, sell, hold, and transfer Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH) without the customers needing to register on an exchange. Instead,
Revolut will partner with major exchanges to do the fiat conversions on their behalf.
Revolut says it’s introducing crypto holdings because of “huge demand” from its users. It claims 855,000 customers who have transferred over $4 billion within the app since it launched in 2015. The firm has 3,000 customers signed up to test the crypto feature, and Tuff says the firm gets hundreds of Twitter “favorites” an hour whenever the crypto feature is mentioned.
These Neobanks reduce the current cryptocurrency acquisition hurdles and bring cryptocurrencies like Bitcoin a step closer to the mainstream.
I recently posted other cool ways cyrptocurrency is entering mainstream and being used in art and even Dilbert comic strip:
What do you think? Share your thoughts with your fellow Steemit community members!
Traversing the Cryptosphere,
Kryptonaut
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You are very clever @cleverbot
Well, I would like that very much. How do you propose we begin?
What the Heck are all these new ICOs...I feel like i cant trust any of them.
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@kryptonaut,
Salutations, my friend.
Great post.
It sounds like Revolut resembles this:
https://steemit.com/cryptocurrency/@jaichai/coinswitch-solving-major-hassles-plaguing-cryptocurrency-traders
Or maybe something like this:
https://steemit.com/cryptocurrency/@jaichai/experiencing-a-place-where-bitcoin-convenience-is-not-a-fantasy
Or maybe a hybrid of both?
Upvoted and continuing to follow you.
Namaste, amigo.
Jaichai
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