Something new at Revolut in the field of cryptocurrencies. We told you about it more than a week ago, now Neo-Bank has just confirmed it: Bitcoin withdrawals are now available.
This is a big step forward for the application that has been offering the purchase of digital tokens for several years. Until then, users could just keep them on the app without removing them and sending them to another digital wallet (check out the best crypto wallets).
Revolut confirms that the feature is currently only available for Bitcoin. It is provided in the beta version, so does not offer all the capacities and is currently reserved for the English market. Only three wallet addresses can be added and the withdrawal limit is £ 1000 per month and £ 500 per day.
Still, we will thank the Neo-Bank for giving their users the option to switch platforms and embarrassing themselves to have to resell their cryptocurrencies at the time of platform switch (and therefore pay taxes). The international deployment is expected to arrive shortly.
Last week a little bird revealed that something exciting had arrived at Revolut Crypto, and now it’s time to make it official. Whom withdrawals? The time is now! Read more on the blog: https://t.co/aK3rTqCJ85 pic.twitter.com/PeghplBVBS
– Revolut (@RevolutApp) May 6, 2021
How it works ?
In the Bitcoin section of the Neo-Bank, you just have to click on the three little dots that correspond to the additional actions to find “Withdrawals”. You will then need to enter the address of the wallet you want to send your digital assets to. Of course, it is possible to send the money to an external wallet like a Ledger Nano X key.
Revolut explains the security it offers with these withdrawals: “As simple as it is, we wanted to secure it too [ces retraits]. So we introduced two-factor authentication when you add an address to make sure you know exactly where you are sending your crypto. “
“The majority of our crypto funds are kept in a cold room with some of the best administrators in the crypto game. External hard drives used for the cold room are disconnected from all networks when there are no cryptographic transactions, making them as resistant to hacking as possible, ”added Revolut.