Val Scholz7 We wanted to open up cryptocurrency exposure to everyone and not just the enthusiasts. We’ve simplified the complex signup process, removed the high fees and brought cryptocurrency exposure to everyone at the touch of a button. 📲
Adithya Shreshti0 @valscholz Doesn’t Revolut work in India? I tried signing up with my mobile number, I did not get the verification code even after multiple tries. I used my US number, received a verification code instantly. I prefer opening an account with my Indian number.
Val Scholz0 Hey @adithya, We're monitoring closely the Indian market but don't have a release date yet. We'll be launching our service in the U.S. in early 2018.
Alexandra Larson3 @valscholz No you didn't. Not being able to transfer cryptos to personal wallets / addresses shadows all the nice features you have just described.
Jp Valery2 Hey Val - congrats on launching! I’m just wondering, how are you dealing with people in north America ? My experience so far with the app and the customer service as à French living in Canada has been far from enjoyable and it feels like Canadian and US residents are not a priority. Is this going to be the same with the crypto service?
Val Scholz0 Hey @jpvalery, As we're launching in the U.S. and Canada in early 2018, we'll also be expanding our support team to be able to offer 24/7 support to all of our customers.
Jp Valery1 @valscholz it wasn’t about availability but consistency and helpfulness 😄 I’m really looking forward to be able to use the app here, and buy/sell my cryptos (since Coinbase still doesn’t allow us Canadians to sell our BTC/ETH/LTC,...).
Ravishankar2 Nice and Simple UI Well done Revolut 👍
Val Scholz1 @r_ravishankar Thanks! We're glad you like it :)
Ettore Tortora10 I'm a long time user of Revolut. It's a great service, killer UI and makes my life in the UK easier BUT there are tons of problems that they still need to fix, like the fact that often you can't use your card because their 3rd part card processor service is always down. I was hyped to check out the new Cryptocurrency feature, they've done some good PR on their twitter and FB but apparently, you can only use this feature if you're a Premium user (paying a monthly fee for few extra features - not really useful). This or you can invite 3 friends to unlock the feature. I'm not a premium user but I've invited 6 friends in the last 2 years although they don't seem to care about this. Real bummer...
Val Scholz2 Hey @error23_ , Can you send us a DM on our twitter account? We'll check your case and unlock crypto for you if that's the case. Additionally, our team is working hard on bringing processing in-house to prevent future downtimes. We expect this to happen in early 2018.
Ettore Tortora3 @valscholz Thank you, I will. I hope to see the in-house processor soon. EDIT: Great customer service on Twitter, they activated the feature in few minutes! Thanks again!
Matthew Clementson0 @valscholz I’ve also invited plenty of users over the 2 users I’ve had been using the service! I’ll also send a tweet. Nice work, looking forward to using it. Ps please ask the team to look at the customer support process. Closing tickets overnight for non premium users who only have support until 10pm is not cool.
Kim Schulz1 @error23_ I was kinda annoyed to see that the crypto feature was a premium only feature. The price for the few extra features is extremely high for what they offer if you ask me. There are plenty of other ways they can already earn money on this business model - why not set these features free and instead get a lot more users (mastercard normally pay per user-signup so that alone would give a better revenue)
Devan Koshal1 Big fan of Revolut, premium user here since the first day I signed up. Use them more than any of my current accounts. Being from the UK, currently living in Canada, and making frequent trips to the UK/US the multi currency support has been flawless. Great work guys.
Nikita Akimov1 Hey @fr00tloops! Congrats on launching! Is there an option to withdraw your coins to another wallet?
Matthew Clementson1 @akimovnv I imagine they’ll want to prevent us from doing something like this unfortunately. Otherwise we’ll just use Revolut as an easy way into Crypto and then transfer out to other exchanges that currently don’t accept GBP / USD transfer easily or without huge fees.
Nikita Akimov1 @matthew_clementson then I can’t understand what does it have to do with decentralization. In the end we would have to trust Revolut founders not taking control over our funds lol :D
Matthew Clementson0 @akimovnv I think the fact that Revolut is offering this service shows how mainstream crypto’s are becoming, coupled with that I’m sure the average person that invests in them now has no interest in the original motivations for creating them.
Val Scholz2 Hey @akimovnv @matthew_clementson Revolut is regulated by the FCA (Financial Conduct Authority of the U.K.) so you can rest assured that your funds are safe. We keep them in separate client accounts. For the initial launch, it was important to keep Revolut as a closed system in order for all of our partners to be comfortable. We feel that this first phase will really help drive mass adoption of crypto. In the future, we'll be looking at allowing users to send their Bitcoins to external wallets.
Felix Kaiser0 @valscholz The T&Cs read very differently. I read them as basically it’s all my risk, no guarantees whatsoever. They probably even state BTC aren’t FCA regulated.
Val Scholz0 @felixkaiser "For storage, Revolut uses a combination of techniques to ensure that your funds are safely and securely stored. The majority of funds are held in offline cold-storage vaults."
Felix Kaiser0 @valscholz I like that. But the question is: should Revolut still lose the funds, will they need to help me with the issue according to FCA guidelines (see your comment above)? I think not, because I guess the FCA has no guidelines about BTC.
Aleksandr Pasevin0 @akimovnv @matthew_clementson @valscholz is it possible to know how far in the future it will be possible to send cryptos to external wallets? (days, months, years)?
Raphael0 Hey @valscholz & revolut, great job adding crypto...I had a revolut account that got closed after brexit, i have a US address on there and still have my rev card. when you start supporting US customers, will i have to get a new card ?
Val Scholz0 Hey @idont_follow, I’m not entirely sure if that will be the case. Give me a shout when we’re live in the U.S. and I see what I can do :)
Jijo Sunny1 Active user of Revolut here ✋ Love it! I can't seem to find the crypto option though. I did update. Should I wait, or do something differently?
Val Scholz1 Hey @jijosunny, you should be able to find Revolut 4.8 in the AppStore. Once you download the latest app, you can see the crypto product in the More tab.
Daeshawn Ballard1 This seems really interesting. However, I'm a little bummed it's not open to the U.S. to try.
Val Scholz1 Hey @imdaeshawn, we're working hard to launch in the U.S. in early 2018. Stay tuned 🙌
Alexandra Larson1 You do not own any coin, you buy/sell BTC and crypto contracts. You can neither withdraw / send or own any btc, that is a waste of source code.
Shawn Harris1 Not a bad service to work with bitcoin.
Val Scholz0 @rerushichijigan Thanks! :)
Taly0 Doesn’t work in Russia 😒
Val Scholz0 Hey @illiiiillllilii, We already have offices in Moscow and St. Petersburg and since our founder and CEO is Russian, we're working hard on offering our service in Russia next year too!
Nik0 Whats the point to make it easy to buy, but impossible to transfer to my choice of wallet??? NO THANKS
Val Scholz1 Hey @nemtrd, We've seen incredible demand so far for an easy way to buy, hold and exchange Bitcoin, Ethereum, and Litecoin. Revolut is regulated by the FCA (Financial Conduct Authority of the U.K.) so you can rest assured that your funds are safe. We keep them in separate client accounts. For the initial launch, it was important to keep Revolut as a closed system in order for all of our partners to be comfortable. We feel that this first phase will really help drive mass adoption of crypto. In the future, we'll be looking at allowing users to send their Bitcoins to external wallets.
Nik0 @valscholz I get it, I’m sure there will be a market for this and I wish you only the best. I just prefer to hold the bitcoins in my own wallet.
Woody1 Can you buy IOTA directly from hard currency or would you need to go via bitcoin?
Alexandra Larson0 @hugowoodhead You can't buy IOTA directly, and you can not use the BTC anywhere else. this feature is a waste of life
Melanie Brown0 Good service
Felix Kaiser1 How are these the best possible rates (I don’t understand the definition of this). You’re charging 1% (says the blog post), where do I see this when doing an exchange?
Lennart Brandt0 @felixkaiser Would like to know this too!
Ouriel Ohayon0 How do the rates of cryptos compare to exchanges like gdax or kraken? One big issue I see here is that you do not own your crypto. You can only sell it here and can't use it anywhere
Pietz Prove1 I signed up for a premium account to try this, but then found out it's a 1 year subscription. Very sneaky and shady how that's communicated by the app. Since I didn't want this, I was looking for the option to cancel the subscription. There is none. You're supposed to contact the support through the app. But that's not a problem because they have 24/7 support, right? Wrong. I was asked to wait 6 hours or communicate with a chatbot, which doesn't understand 'cancel premium' or 'cancel subscription'. In all honesty, how can I trust you with my money if this is the experience you give customers in the first 5min of using your service?
Toby Robertson1 The spread appears to be over £400
Toby Robertson2 @stars7up buy price @ 2244 12/12/17 : £12873 = 1BTC, BUT try sell 1BTC and I’m offered £12435
Toby Robertson2 I can’t see any way of withdraw BTC and at this spread I need to see +£400 to take profit