With more than 15 million users worldwide, Revolut has become one of the largest fintech companies. The UK-based firm recently increased its offering from 10 to 21 cryptocurrencies, making it easier for customers to buy, hold and exchange digital assets. The 11 new crypto tokens are Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid and The Graph.
The increase in the number of cryptocurrencies supported by Revolut is a sign that the company is serious about its commitment to the crypto space. This indicates that they are willing to invest in new technologies and provide their customers with more choices and consequently better service. This move is also positive news for the crypto industry as it lends legitimacy to digital assets and helps strengthen faith in the sector, which
struggling in recent months. Following the announcement, the company urged users to do their research before investing in any cryptocurrency. They also warned about the volatile nature of the market and advised clients to only invest what they could afford to lose.
What are cryptocurrency apps?
Cryptocurrency applications are software that allow you to buy, sell or hold digital assets such as Bitcoin, Ethereum, Litecoin and other tokens. They can also be used to exchange one cryptocurrency for another, making it a versatile tool for investors and traders. Some offer other features such as interest bearing accounts, crypto lending and staking (earning rewards for holding certain cryptocurrencies). Most crypto apps work in a similar way to online banking apps. You create an account, verify your identity, and then you can start buying, selling, or exchanging cryptocurrencies. Users can buy crypto using fiat currency (eg USD, EUR, GBP) or with another cryptocurrency.
There are many different crypto apps available on the market, each with its own unique features and offerings. For example, Coinbase and Binance are two of the most popular cryptocurrency exchanges that offer great apps. It allows users to buy and sell cryptocurrencies as well as store them in a wallet on the platform. Another application example is Revolut. Revolut is a fintech company that provides payment solutions and gives users access to financial instruments such as stocks and crypto. There are different types of crypto trading platforms available, so it is essential to choose one that suits your needs.
Centralized vs. Decentralized applications
Centralized crypto apps are operated by a single company, which controls the platform and the traded assets. These platforms are considered riskier as they are vulnerable to hacks and scams targeting the central authority that controls them.
Apart from using traditional apps to buy crypto, traders can use decentralized apps like PancakeSwap, UniSwap and many more that are built directly on the blockchain. It allows for transparent and secure transactions and provides a layer of security.
Is it safe and should you buy crypto with an app?
Yes, it is safe to buy crypto with an app if it is regulated by the appropriate agencies and has a good reputation. In general, it shouldn’t be much different than buying crypto on an exchange. However, you should always do your research before using unverified apps and tools, as well as before investing in any crypto due to the volatile nature of cryptocurrencies.
Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not, endorse any information about any company or individual on this page. Readers are encouraged to do their own research and take any actions based on their own findings and not on any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product or service mentioned in this press release or sponsored post.