Fintech startup Revolut brings cryptocurrency trading to US customers
British fintech firm Revolut has partnered with New York-based Paxos to bring Bitcoin and Ethereum trading to customers in the US.
Having only launched in the United States in March this year, Revolut is gradually bringing the services it already offers in Europe to its American user base. Thanks to the new partnership, residents of 49 states can now indulge in some crypto trading.
Regulations in Tennessee mean that residents of this particular state miss out on buying and selling cryptocurrency through the Revolut app, but it's all systems go for the rest of the US. Unlike in Europe where the fintech company deals in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP), US customers will be limited to trading in Bitcoin and Ethereum for now. Revolut plans to add support for more cryptocurrences in the future.
Customers are able to convert to and from cryptocurrecies and 28 fiat currencies, and how much this costs depends on the type of customer you are. Anyone with a free Revolut account will pay a conversion fee of 2.5 percent, while paying customers with a Premium or Metal subscriptions will pay just 1.5 percent. As a special offer, however, no fees are payable for the first 30 days.