Revolut Launches Beta Version of Cryptocurrency Exchange for Advanced Traders
Digital bank Revolut is making strides in the cryptocurrency space with the beta launch of its new cryptocurrency exchange. The exchange is specifically designed for advanced traders and boasts a range of features to meet their needs.
Lower Fees and Enhanced Market Analytics
The new cryptocurrency exchange aims to provide users with a more cost-effective and insightful trading experience. One of the main advantages of using the exchange is the significantly lower fees compared to trading through the Revolut app. With fees ranging from 0% to 0.09%, traders can save money on their transactions.
In addition to lower fees, Revolut's cryptocurrency exchange also offers advanced market analytics. This means that traders can access deeper analytical tools to inform their investment decisions. With enhanced market analytics, traders can gain valuable insights into the market trends and make well-informed trading moves.
Expanding Crypto Services to Advanced Traders
While Revolut already offers basic cryptocurrency services to its 30 million customers, the launch of this new exchange is aimed at catering specifically to advanced traders. The exchange's features and functionalities are tailored to meet the needs of experienced traders who require more advanced tools and capabilities.
Speaking about the launch of the new exchange, Revolut stated, "We're launching a new crypto exchange, built with advanced traders in mind. You'll find deeper analytical tools and lower fees than the app." This shows a clear focus on providing a seamless and efficient trading experience for this specific target audience.
Limit and Market Orders with No Fees
Another notable feature of Revolut's cryptocurrency exchange is the incorporation of limit and market orders. Limit orders are commonly used by traders who want to buy or sell an asset at a specific price. With the ability to use limit orders, traders have more control over their transactions and can execute trades according to their desired prices.
What makes this even more appealing for traders is that limit orders will incur no fees. This adds another layer of cost savings for traders using Revolut's cryptocurrency exchange.
Revolut's Crypto Services for Business Customers
Although Revolut has been expanding its cryptocurrency services, it temporarily suspended these services for business customers in the UK last December. This decision was made in response to the Financial Conduct Authority's new regulations on crypto promotions.
However, the launch of the cryptocurrency exchange is a promising move for Revolut, as it demonstrates the bank's commitment to continue innovating in the crypto space and catering to the needs of advanced traders.
In conclusion, Revolut's beta version of its cryptocurrency exchange offers advanced traders an improved trading experience with lower fees and enhanced market analytics. With the incorporation of limit and market orders and a focus on meeting the specific needs of advanced traders, Revolut is poised to make a significant impact in the cryptocurrency market.
Analyst comment
Positive news. The introduction of a cryptocurrency exchange targeted at advanced traders by digital bank Revolut will likely attract more traders to the market with its lower fees and enhanced market analytics. This could result in increased trading activity and potentially higher market liquidity.
