Revolut Not Crypto Friendly At All Part 2

in cryptocurrency •  11 months ago

Some time ago i wrote article here explaining why Revolut crypto friendliness is just a community stunt.
At that point many people who read only headers or check images were saying "but but.. i use it on my account and i can deposit and withdrawal fiat from exchanges".

The article is here - and

tldr; Back then i stated you cant make company account to use with any crypto exchanges and that even on personal account you cant withdrawal cryptos, you can just buy and sell.

When companies are banned/restricted its always a bad sign for future - usualy companies get hit first.

And this predicted what just happened - from now on, you cannot deposit or withdrawal with Revolut from Bitcoin Exchanges ie Kraken, Bitstamp and im sure more are coming - they just need to identify all exchanges FIAT bank accounts and company names.

There is no public info about it yet nor announcement, just users who used to deposit or withdrawal their FIAT are not getting it and support says about cease of such operations.

Try yourself and confirm please.image.png

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Surely Revolut are getting hit by complaints if they've stopped withdrawals?

I think it was a marketing stunt as well to lift their valuation in the latest funding round. Adding crypto always implies high user adoption & and most VCs want to value start-ups based on the active users. It is a good product but bitcoin & crypto isn't something for them. People shouldn't use revolut to buy or sell crypto either. One doesn't know if they back transactions on revolut by actual crypto or not.

That is not decentralized at all. They now want to track every owners or rather governments are now getting involved.

Well, this sucks for so many people. There is no dirth of people unwilling to do their homework before investing.
Even though I haven't used the service or even read your article about it but if I had I know that it would have given me a pause. It's not like that I have money to spend and what little I have, it deserves all my caution.

Buen post me encanto ,saludos.

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