Leak Reveals Revolut Banking App Gearing Up for Massive Crypto Upgrade To Stay Ahead of PayPal and Robinhood

Banking app Revolut is preparing for a massive upgrade that will include a feature that is currently unavailable on crypto trading platform Robinhood and payments giant PayPal. 

In a now-deleted blog post spotted by AltFi, the London-based firm says that its top-tier paying Metal plan users will get beta access to transfer their BTC holdings out of Revolut. 

A company spokesperson says that Revolut is launching the upgrade next Thursday, and the blog post was published too early by mistake. The post reveals that Revolut is also planning to roll out withdrawal support for other cryptocurrencies. 

Restrictions will apply during the beta testing period. Metal paying customers can only add three external addresses, and withdrawals are capped at £1,000/month ($1,382) or £500/day ($691).

Like PayPal and Robinhood, Revolut does not currently allow its users to transfer their Bitcoin holdings to other platforms. Revolut’s upcoming upgrade would remove the restriction and make the app an attractive option for traders who want to easily move their digital assets from one platform to another and buy crypto with a user-friendly wallet from their mobile phones.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Craig Hastings