What are the main concerns about Revolut's cryptocurrency features and functionality?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the main concerns that users have about Revolut's cryptocurrency features and functionality is the lack of control over their own private keys. Unlike traditional cryptocurrency wallets where users have full control over their private keys, Revolut holds the private keys on behalf of its users. This means that users are not in full control of their own funds and are reliant on Revolut's security measures to protect their assets. While Revolut has implemented security measures such as two-factor authentication and encryption, some users may still feel uncomfortable with the idea of not having complete control over their private keys.
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• Dec 16, 2021 · 3 years ago
  Another concern that users may have is the limited number of cryptocurrencies supported by Revolut. Currently, Revolut only supports a few major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. This may be a drawback for users who are interested in trading or holding other less popular cryptocurrencies. However, it's worth noting that Revolut regularly updates its list of supported cryptocurrencies, so there is a possibility that more cryptocurrencies will be added in the future.
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• Dec 16, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi offers an alternative to Revolut's cryptocurrency services. Some users may have concerns about the security and reliability of BYDFi compared to Revolut. While BYDFi has implemented security measures such as cold storage and two-factor authentication, it's important for users to do their own research and due diligence before using any cryptocurrency exchange. It's also worth noting that different exchanges have different features and fees, so users should consider their own needs and preferences when choosing a cryptocurrency exchange.
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