Revolut launches beta Bitcoin withdrawal feature

British fintech company Revolut has launched a beta version of a service that allows withdrawing the first cryptocurrency purchased on the platform, CoinDesk reports.

This option is available to subscribers of the Metal plan in the UK, priced at £12.99 per month.

According to Revolut’s head of crypto, Ed Cooper, 80,000 people subscribed to the package, with half of them having acquired Bitcoin.

In the future, the feature will be rolled out to customers in other countries.

At the initial stage, the daily withdrawal limit will be no more than £500, and the monthly limit up to £1,000. There are also limits on the number of addresses — initially, there will be three.

The list of cryptocurrencies available for withdrawal will be expanded to all assets supported on the platform.

“Following Bitcoin, we will add Ethereum, ERC-20 tokens and XRP,” — explained Ed Cooper.

Previously, Revolut users could buy cryptocurrencies and transfer them only within the platform. Withdrawing digital assets to external wallets was prohibited.

“The withdrawal of cryptocurrencies has become the most requested feature. We are glad that we have begun the gradual rollout of it. This is only the first step in a long list of planned improvements,” — said the founder of the neobank Nikolay Storonsky.

In April 2021, Revolut expanded the list of supported cryptocurrencies from 11 to 21.

In March this year, the competing platform Robinhood announced adding a cryptowallet to its service.

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