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Revolut became the first traditional business company to introduce its crypto exchange, Revolut X, on May 7, explaining its unique and user-friendly features.
Revolut is a global neobank and fintech company based in the UK that helps customers plan their expenses and savings more smartly. It has over 40 million and 500,000 business customers, operates in over 150 countries and regions, and supports over 36 fiat currencies.
Lately, the company has been involved in the crypto ecosystem, offering many services to crypto traders., It previously supported the direct purchase of cryptocurrencies into Metamask wallets through Revolut Ramp.
However, on May 7, Revolut announced its crypto exchange, Revolut X, which supports over 150 tokens and supports trading in around 45 countries.
Rosie Leheup-Ffloulkes announced the news through its LinkedIn profile, expressing its initial plan. Revolut is the first traditional business to launch an exceptionally dedicated crypto trading platform.
Objectives and Availability of Revolut X
The platform has desires, and its design is built to compete with existing popular crypto exchanges by offering user-friendly and low-buy and sell transactions of cryptocurrencies.
The developers aim to increase trust and transparency in the crypto industry. The company is entirely committed to doubling down on crypto trades in the medium term.
In the LinkedIn post, Rosie Leheup-Ffoulkes shared a video that discusses the platform’s advancements compared to other available platforms.
Currently, Revolut X is available for existing Revolut customers based in the UK through a desktop application accessible through the official Revolut website. It offers instant trades and has no limits or barriers to trading.
Characteristics of Revolut X
Convenience Trading
The company promotes fast trading and easy transfers, and all the related services are offered on a single platform for ease of use.
Maker Fees
The market makers are charged fees for adding liquidity to the order books; their orders remain open until and unless any taker with the order in the opposite direction is available.
The Revolution has 0.0% maker fees.
Taker Fees
Takers are the traders who accept the available orders in the market that can be filled immediately or as quickly as possible. They take liquidity from the order books. However, these traders might need to pay slightly more to fill orders immediately.
Revolution X charges a taker fee of 0.09%.
It promotes more trading for lesser fees.
Services Offered
The offered services on the Revolution X platform include,
- live market trading
- Market and limit orders
- Advanced analytics
Supported Tokens
It currently supports over 120 tokens, including all the popular ones, namely BTC, ETH, XRP, LTC, DOT, DOGE, and others.
Storage
It stores all the available currencies in a cold wallet in offline mode. All the stored cryptocurrencies are safe and secure, with the most relaxed full-stack security.
Plans Offered
It has multiple plans with different fees for exchange, withdrawal, deposit, and stablecoin exchange. The available plans include standard, plus, premium, metal, and ultra.
Other services include 24/7 support, trusted custodians, risk monitoring, cold storage, due diligence, wallet monitoring, and blockchain analytics with enhanced safety.