You can now withdraw in Bitcoin (BTC) – Revolut tells UK customers

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys playing cricket,… read more.
on May 6, 2021
  • Revolut’s users in the U.K can now withdraw their Bitcoin directly to another address.
  • The financial app intends to enable similar services in the U.S., Australia, and other regions in the future.
  • The feature will benefit about 40,000 Revolut customers who have cryptocurrencies on the platform.

Revolut customers based in the U.K have something exciting to look forward to, as the leading financial app recently enabled Bitcoin withdrawals of up to 1000 pounds.

The new service will enable Revolut’s customers in the U.K to transfer Bitcoin (BTC) bought on the platform to their wallet or elsewhere.

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However, the feature is limited to customers who have subscribed to the platform’s Metal services for £12.99 monthly.

This is coming after Robinhood enabled such services on its platform earlier this year. Customers have made their complaints known to their respective platforms to allow them to control their crypto holding and withdraw whenever they want. Now, it seems Robinhood, Revolut, and others are paying heed to their customers’ requests.

Revolut’s head of crypto, Ed Cooper, commented about the new service, saying that thousands of customers will be benefiting from it.

He said the company has about 80,000 Metal customers in the U.K, with 40,000 of them having cryptocurrency investments.

Other regions to benefit in future

The service is coming four years after Revolut started offering cryptocurrency services to its customers on the platform.

The company started by enabling Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) trading back in 2017. Customers were only allowed to withdraw their crypto holdings as fiat currency until now.

Revolut says it is offering the Bitcoin withdrawal service only in the U.K. for now, but it will be extended to the U.S., Australia, and other countries where it has established a presence.

Customers can add three external addresses

As a start, Revolut customers in the U.K can add three external crypto addresses for their withdrawals. However, there is a limitation to the service, as only withdrawals between £500 and £1,000 are allowed at the moment.

Founder and Chief Executive Officer of Revolut, Nik Storonsky, commented that the new service is a response to customers’ requests.

 “Crypto withdrawals have been a heavily requested feature within Revolut’s crypto community,” he said, adding that the platform is excited to give users what they want.

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