Revolut, one of the most famous neobanks in Europe, is starting to transition to cryptos. It is known for its low fees and 100% mobile service., the bank plans to make payment methods easier around the world. And that is why the company decided to release a crypto bank card based on Dogecoin.
The introduction will be in the UK first before being expanded. And Revolut won’t let its users pay for their daily groceries in crypto. Cash back in DOGE token and other crypto, set up to reward the use of the new system! Find out the bottom of this announcement by continuing to read.
Revolut is following the crypto mass adoption trend
Fintech company Revolut seems to follow what other companies started, for example Google which launched its collaboration with the Coinbase platform. Like a crypto-friendly cloud, Revolut is trying to attract new customers and keep them through its crypto offering. Because if the crypto world is in a bear market right now, the number of crypto addresses created around the world continues to increase. The Statista site shows us an increase in the number of crypto launches by 10 million between the first quarter of 2021 and the first quarter of 2022. This shows us that the world is embracing crypto and companies need to prepare for it!
Graph of the evolution of the number of crypto addresses expressed in millions since 2015, according to the Statista site
Money back in encryption, attractive offer appeal
To convince as many people as possible to accept their crypto bank card, Revolut has an effective trick. The concept of cash back has become popular with sites like iGraal. But even better, it fits well into the crypto universe. Many successful NFTs and crypto projects also offer a reward system that is proportional to the commitment of their users.
There is no doubt about that this system will attract many customers for its ease of use. The offer is more attractive as it gives a 1% refund on the crypto used during the purchase. Revolut not only allows the use of the DOGE token to pay, but also includes cryptos like BTC, ETH, and more!
Personalized payback will allow users to be rewarded for crypto they believe will increase in value in the future. This is a welcome kickback in a universe very close to the markets with its significant fluctuations. A loyal Dogecoin user will probably be more than happy to get cash back in a crypto that they think will go up in value soon!
If you want to invest in cryptos, maybe it’s time to start. Initiatives of this nature by banking institutions indicate the growing interest in digital currencies and the possibility of a market in the future.
eToro (Europe) Ltd offers cryptocurrency investment as a PSAN, registered with the AMF. Cryptocurrencies are very volatile. No consumer protection.
Revolut: Learn & Earn as P2E twin brother
After Play to Earn, This is the Learn & Earn initiated by Revolut and Others. With the crypto card, Revolut plans to introduce its users to investment operations. General Manager Emiln Urmanshin said:
This year, not only have the number of cryptocurrencies available in the Revolut app increased to almost 100, but we also launched Learn & Earn style crypto courses that millions of users will enjoy.
For the latter, the goal is to make crypto even more mainstream than they are. The objective is clearly to make a crypto tool that one can use to pay for all the conveniences of daily life. And for that, you have to educate people about cryptos, because there are many possibilities and the technology can be confusing for some people. Users will be able to earn 1 inch tokens based on the courses they complete.
Learn how @1 inch uses an algorithm to offer the highest rates, and compare crypto trades at the cheapest price, so you don’t have to do it yourself! 🤩
No regulation. Value may go down. Tax may be payable. pic.twitter.com/hEr1EQlCqX
—Revolut (@RevolutApp) October 31, 2022
This announcement is yet another addition to the list of bonuses that Revolut crypto cardholders will be able to take advantage of. All this must be understood the features are just a sample of the possibilities with the crypto world.
It is not impossible that Revolut will incorporate many other features in the future using, for example, Free NFT technology. Take these ads as demonstrations of all that is possible compared to traditional bank cards!
Switch between fiat currency and cryptocurrency!
The biggest asset of a crypto bank card is the bridge it can make between fiat and cryptocurrency currencies. This flexibility will greatly facilitate crypto as a payment method in the whole world. But what will this change concretely for the crypto world and for investors?
The value of a currency is due to its usefulness and the trust placed in it by the players. With the democratization of crypto as a means of payment, one can expect the overall increase of the market in terms of value. Like trusted digital currencies Bitcoin or Ethereum could increase in value in a few years.
However, it will be necessary for these to last maybe lose, a little in volatility to reassure the major financial institutions. Another problem arises, that of reversible transactions. Because the blockchain does not allow very easy transparency of the exchanges that are made. If you want to know more about reversible blockchain, go to this article!
