Digital Bank Revolut Is Taking on Coinbase with a New Crypto Trading Platform

One of the best digital transformation applications is a convenient financial system that eases monetary transactions. The conventional banking sector has always played a crucial role in defining the progress of a nation, but a few drawbacks and limitations called for a new financial system. When Decentralised Finance (DeFi) became the talk of the town, conventional banking got a sense of enhancing its systems globally. 

Blockchain is the ground for the existence of DeFi with its distinctive data storage mechanism. Blockchain technology uses blocks overlaid on each other to never miss a single piece of information about the changes made to a block of the established blockchain. Moreover, each blockchain has a unique key to access and edit the stored information, making it onerous for malicious actors and scammers to alter the ledger. 

Given the DeFi system, banking systems offered digital banking services globally to stop it from replacing banks. Revolut is one of the best digital banks, offering payment services worldwide. In the recent turn of events, it has taken a keen interest in the cryptocurrency landscape by investing in it. Revolut is all set to launch its standalone crypto trading platform identical to Coinbase and others. 

Revolut – Industry Leader in Digital Banking Solutions

A trustworthy and effective financial service provider, Revolut claims to offer its users an experience that changes how they interact with money. From sending, spending, and saving efficiently, it is a go-to option for individuals and enterprises. It is home to relentless and expert financial people to develop a platform that makes money matters smooth and borderless. 

Starting its journey from Brazil and New Zealand, Revolut has more than 35 million users in around 38 countries. It offers automated investing features in the U.S. to help scale your business and personal financial well-being. With an ambition to facilitate everyone in their monetary matters, it introduced many features, including local International Bank Number (IBAN) in Spain and Ireland, one-tap payment from iPhone in several markets, and so on. 

Thanks to its eye-catching design and beginner-friendly user interface of mobile apps, Revolut 10 is the latest and most downloaded financial app in nine different countries. It pushes limitations in the fiscal market with innovation and financial plans, offering straightforward solutions. 

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Coinbase – A Renowned Cryptocurrency Exchange

Cryptocurrency has changed the financial market dynamics by introducing novel ways for trading and exchanging digital assets, offering scalability and ease to organisations and retail investors. In the crypto landscape, Coinbase is one of the most trustworthy crypto exchanges that allow traders and investors to buy, sell, and stake their crypto assets. 

Statista report shows over 9024 different crypto tokens exist as of January 2024. Coinbase is the perfect platform to diversify your investment portfolio with these crypto assets. Though it will not feature some of the latest tokens, most exist on the trading platform. Due to its matchless security, you will get peace of mind when owning or trading your crypto on Coinbase. Click here to learn more. 

Nevertheless, Coinbase is not the only player in the crypto ecosystem; Binance, Gemini, Kraken, and several others make up the list of the top crypto exchanges. Although they have almost similar features, most of them differ from each other in platform and transaction fees, market capitalisation, and active volume of crypto tokens. 

Revolut to Join Crypto Exchange Market

If you are a Revolut customer, you would have received an email about the announcement of a standalone crypto trading platform. With myriads of crypto exchanges, what made Revolut think about launching another platform when it is already earning a fortune and reputation in the digital banking landscape? 

The launch of the new trading platform is in its testing phase, inviting its customers to test the emerging app for its features. Discussing its advanced features is essential to overjoy seasoned traders and investors, paving the way for competing with established crypto exchanges, such as Coinbase, Binance, KuCoin, and so on. 

Some features of Revolut’s new crypto trading platform include negligible platform fees, ranging from 0 to 0.09 per cent, to allow users to carry out economic transactions. Moreover, deep market analytics, limit orders, and market orders are other features that suit the trading style of established crypto traders. 

Importance of Crypto Exchange for Traders

Crypto trading platforms are like a bridge between the lucrative fruits of the crypto world and the crypto enthusiast. You can use a crypto exchange, including Coinbase, Binance, and others, to buy a digital asset and sell them to potential buyers. By gathering investors, sellers, and stakers under a single roof, crypto trading platforms support you in your crypto venture. 

Moreover, it paves the way for you to access a global market that fosters a worldwide and decentralised trading ecosystem. The cool thing about a crypto exchange is its around-the-clock operation, cutting off the time differences between different time zones. With real-time market information, analysing the global crypto market becomes easier for newcomers and seasoned investors. 

In addition, the availability of multiple crypto exchange platforms diversifies the market, offering you options to choose from the most economical and user-friendly platforms. Therefore, the launch of a new crypto exchange from Revolut is a welcoming step for traders and investors. 

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Revolut Offering Competitive Crypto Exchange Signals Economic Crypto Trading

@joteo.ylm Digital is changing the way we live, work, play.. and pray! #JoTeoOnTheGo #digitalfuture ♬ original sound – Josephine Teo

Lower platform fees and deeper market analysis will give Revolut’s new crypto trading platform a distinguished reputation in the crypto ecosystem. The novel platform is in its beta testing stage, inviting a few chosen customers to test the feature before the company releases information about the much-anticipated crypto exchange. 

It is important to understand that crypto users have multiple choices when they decide to invest and stake their capital in the crypto landscape. Coinbase and Binance are some of the credible crypto trading platforms, but traders will enjoy trading on the coming platform, signalling an intuitive and cost-effective crypto experience.