4 ms·

There is a simple yardstick that made me stay far, far away from Revolut: they deal with bitcoin. I will never trust a single cent of my money on such a company

by chx 7y ago

There is a simple yardstick that made me stay far, far away from Revolut: they deal with bitcoin. I will never trust a single cent of my money on such a company. So far the conduct of Bitcoin exchanges didn't impart the impression of responsible companies. Oftentimes you have downright conmen running them. This is not to say Revolut is cooking the books but touching bitcoin by a fiscal company carries a stench, one that I don't want close to my money.

StavrosK 7y ago
They don't actually deal with cryptocurrencies (like, you can't buy BTC with them). They just added tickers and let you gamble with the price.
- chx 7y ago
  Huh? https://www.revolut.com/exchange-cryptocurrency https://www.revolut.com/exchange-cryptocurrency "Instantly exchange any of our 29 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat."
  - StavrosK 7y ago
    Yeah, they don't let you withdraw or deposit any. You have to convert it back to fiat to withdraw.
    - chx 7y ago
      Interesting service. https://www.revolut.com/help/exploring-revolut/exchanging-cryptocurrencies/what-can-t-i-do-with-revolut-cryptocurrency/can-i-transfer-my-cryptocurrency-interest-to-another-wallet/ https://www.revolut.com/help/exploring-revolut/exchanging-cr... > You will not be able to transfer cryptocurrency interests to outside of the Revolut platform, eg. external wallets. And https://www.revolut.com/en-DE/help/exploring-revolut/exchanging-cryptocurrencies/what-can-t-i-do-with-revolut-cryptocurrency/can-i-receive-cryptocurrencies-sent-to-my-revolut-account/ https://www.revolut.com/en-DE/help/exploring-revolut/exchang... > You can receive cryptocurrency interests sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside of the Revolut platform, eg. external wallets Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still.
      - StavrosK 7y ago
        > Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still. They don't need to, really. They just need to pay you if the price goes up. You're selling them fiat for the promise that they'll buy it back at some point for the new price.
        chx 7y ago
        > They don't need to, really. They just need to pay you if the price goes up. That'd introduce a risk to Revolut no sane company can possible take.

by chx 7y ago

StavrosK 7y ago

They don't actually deal with cryptocurrencies (like, you can't buy BTC with them). They just added tickers and let you gamble with the price.

chx 7y ago
Huh? https://www.revolut.com/exchange-cryptocurrency https://www.revolut.com/exchange-cryptocurrency "Instantly exchange any of our 29 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat."
- StavrosK 7y ago
  Yeah, they don't let you withdraw or deposit any. You have to convert it back to fiat to withdraw.
  - chx 7y ago
    Interesting service. https://www.revolut.com/help/exploring-revolut/exchanging-cryptocurrencies/what-can-t-i-do-with-revolut-cryptocurrency/can-i-transfer-my-cryptocurrency-interest-to-another-wallet/ https://www.revolut.com/help/exploring-revolut/exchanging-cr... > You will not be able to transfer cryptocurrency interests to outside of the Revolut platform, eg. external wallets. And https://www.revolut.com/en-DE/help/exploring-revolut/exchanging-cryptocurrencies/what-can-t-i-do-with-revolut-cryptocurrency/can-i-receive-cryptocurrencies-sent-to-my-revolut-account/ https://www.revolut.com/en-DE/help/exploring-revolut/exchang... > You can receive cryptocurrency interests sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside of the Revolut platform, eg. external wallets Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still.
    - StavrosK 7y ago
      > Nonetheless, they must be buying and holding crypto"currency" which is enough for me to disqualify. It's better than going full exchange but still. They don't need to, really. They just need to pay you if the price goes up. You're selling them fiat for the promise that they'll buy it back at some point for the new price.
      - chx 7y ago
        > They don't need to, really. They just need to pay you if the price goes up. That'd introduce a risk to Revolut no sane company can possible take.