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RE: Revolut Cryptocurrency Review

in #dtube • 7 years ago

Revolut is great, the cryptocurrency is great feature. Anyway couple days ago there was promo on phisical card-shipping was for free. The problem with revo is only one, its not a bank, if they close app, your money will go with them :/ GL

7 years ago in #dtube by
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     7 years ago  

    Hi @littlejim, you shouldn't worry about that for several reasons.

    1. They are regulated by the FCA, all client funds are in a segregated bank account at Lloyd's & Barclays, which are safeguarded by the FCA.
    2. They have 1.5 Million Customers, they make millions every month, closing the app would be the most stupid thing ever. Whenever you pay with your Revolut card, Revolut gets a percentage from the merchant, this is how they make money.
    3. They already applied for a Banking License, it is just a matter of time until they get it.
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