British fintech company Revolut with over 10 million users is now offering its cryptocurrency feature to standard users.
Revolut Allows All Users to Try Cryptocurrencies
One of Europe’s largest and most successful fintech companies is getting serious about taking cryptocurrencies to the masses. Today, its users received an email advising them that the company’s cryptocurrency feature is now available for Revolut Standard users.
The email also said that it would be making its gold feature available to customers this month as well. The company that offers faster and more efficient banking services, a fee-free currency exchange, stock trading, a cryptocurrency exchange, and peer-to-peer trading seems to be serious about opening its users’ eyes to alternatives to fiat currencies.
Revolut thrusts its users’ attention to the unprecedented rounds of quantitative easing that are going on around the world and how that leads to currency devaluation. The company reminds its users that they now have an alternative available in the form of cryptocurrencies.
Bitcoin makes an excellent store of value since its purchasing power will never be eroded by inflation of its supply. Central Banks cannot step in and adjust its monetary policy as they do with fiat.
The company will also expose its traditional user base to gold later this month. In this way, they can “diversify” their portfolios.
Money Printing Like It’s Going Out of Style
As the United States Federal Reserve pledged to print some $6tn and the Bank of England offered an “unlimited” amount, money printing (or, rather supply expansion) is beginning to happen globally in response to the pandemic.
In reality, though, governments don’t actually crank up their money printing machines. They increase the monetary supply through quantitative easing. This is where a government purchases assets, such as government bonds, from banks with newly created reserves in order to provide more liquidity.
The end result is the same. QE leads to currency devaluation and Revolut wants to make its users aware. The company has repeatedly shown a commitment to furthering financial education.
Just a couple of weeks ago, Revolut launched a money app to help kids understand how to manage money. Now that its cryptocurrency feature will be available to all, standard users, and younger generations will be able to understand the problems in the existing system–and discover available alternatives.
Do you think this latest step by Revolut is a big move for crypto? Add your thoughts on it below!
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