Revolut launches public beta for bitcoin withdrawals

Revolut announced that will give exclusive access to UK Metal premium customers. During the beta phase they will be able to add three external addresses and withdraw up to £500 a day and £1,000 a month. Revolut will review these limits in the future.

„If you’re a Metal paid plan customer, you’ll get exclusive beta access to this brand new feature. We’re starting with Bitcoin, but we’ll be adding more tokens and upgrades in the near future (…) If you’ve recently started buying crypto, or you’re more of a casual trader, you might not be familiar with withdrawals. This feature lets you take your crypto off one platform and transfer it elsewhere,” Revolut said in a blog post.

Withdraw with a tap

„Withdrawal on Revolut is as easy as 1, 2, 3. Just add an address (or choose one you’ve added previously), enter the amount, and hit withdraw!”

Revolut introduced two-factor authentication „when you’re adding an address to make sure you know exactly where you’re sending your crypto”.

Keeping crypto on Revolut? Your private keys will never touch the internet

The majority of Revolut crypto funds are held in cold storage (external drive) with some of the best custodians in the crypto game. „External hard drives used for cold storage are disconnected from any networks when crypto transactions aren’t happening, so they’re as resistant to hacking as possible,” Revolut explains.

Nik Storonsky, founder and CEO at Revolut, says: “Crypto withdrawals have been a heavily requested feature within Revolut’s crypto community and we’re delighted that we can begin the gradual process of rolling it out. Customers can lock down wherever they feel safest – whether it’s Revolut, into hot or cold storage, or to another exchange.”

Last month, Revolut added 11 new cryptocurrency tokens to the app, bringing the total number of coins available for customers to trade to 20.