As users make 100,000 trades a day in Litecoin, Bitcoin, and Ethereum, Revolut adds Ripple and Bitcoin Cash to its list of tradable coins.
Revolut, a fintech startup based in London announced that it will be adding Ripple XRP and Bitcoin Cash to its list of coins. During the announcement, the company revealed that it gets a daily hit of 100,000 exchanges in Bitcoin, Litecoin and Ethereum.
Revolut is the currently the fastest growing in Europe and it claims that 20% out of its 400,000 users have unlocked crypto trading since it launched its mobile app last year.
The mobile app allows individuals to convert fiat into cryptocurrency and exchange their exiting cryptocurrencies for others.
Revolut’s chief of technology Vlad Yatsenko said:
“We’ve been making inquiries from the Revolut community regarding which coins they would like to see on the platform next and the majority voted for Bitcoin Cash and Ripple”.
The company claims that its decision to add Ripple XRP and Bitcoin Cash was based on what users and preferred and was also a good business strategy since many major exchanges are yet to list these coins.
Bitcoin and Ethereum Continue to Struggle
The past few days haven’t been jolly for the Bitcoin community. Bitcoin has been struggling in the market even after the Consensus conference took place in New York.
Last night, Bitcoin tested $7,500 indicating a 5% fall in just 24 hours which is far from the $10,000 it crossed at the beginning of May. The trade volume for Bitcoin has been hovering between five and six billion over the last week. This is significantly lower than the trade volume last month.
Ethereum has also lost up to 10% of its value within one week and is currently trading slightly above $600.
Revolut launched a feature that allows users to save spare change on cryptocurrencies. Adding crypto trading to the platform has helped Revolut gain a lot of users.