Revolut, how the prepaid card works that makes it easy to travel

Revolut, how the prepaid card works that makes it easy to travel


When preparing for a trip abroad, you often worry about managing expenses in another country, as you could run into unexpected costs. This is why instead of having these sums burdened on our current account, using our common ATM card, we rely on prepaid cards, reducing the risks of unforeseen expenses and increasing the security of our accounts. But what if we told you that from today there is a new prepaid card that offers full freedom throughout the European territory without commissions related to exchange rates? It's called Revolut.

What is it How it works Types of cards Revolut Business How much does it cost Who should use it

What is Revolut?

Revolut is a small revolution in the field of prepaid cards, as it succeeds to combine the prepaid card tool with commission-free use, the best exchange rate applied, a sensitive opening to cryptocurrencies and an innovative trading function.

The Revolut project was born from the needs of a traveler, the Russian Nikolay Storonsky, who, by founding his startup in the United Kingdom, with a crowdfunding that raised over a million dollars in a few hours, wanted to tackle the problems relating to travel and exchange commissions related to foreign currencies. Revolut is basically a prepaid card with a MasterCard circuit, but the difference with other similar products is the ability to perform transactions in 150 foreign currencies with the best interbank rate in real time. The cost is zero on any transaction performed as a credit card, while for amounts over 500 pounds a commission equal to 2% of the amount is applied. The current account functions, the generation of virtual credit cards and the sale of cryptocurrencies complete the offer of this project.

Revolut launches educational courses on cryptocurrency in Romania to advance financial literacy

Revolut, the global financial superapp with more than 20 million customers worldwide, is taking another step forward towards its mission of bringing customers the best financial products and services to manage their money.

Revolut’s new ‘Learn & Earn’ courses have been created to help customers improve their knowledge of cryptocurrencies and related topics, including blockchains, and the most popular tokens and protocols. The courses are available to Revolut customers, who can earn up to 15USD in DOT tokens by taking these short and simple courses and passing the final quiz*.

‘Crypto Basics‘ is the first of the two courses and helps educate customers on what cryptocurrencies are compared to fiat money; the meaning of a  ‘decentralised system’; cryptography; the mechanics of the blockchain technology; and the risks associated with crypto investments.

The second course is based on the multichain network Polkadot, and how it unites blockchains into Web3 – the decentralised internet. The course will use visual materials including interactive cards and videos to share key insights about Polkadot’s native token, DOT, as well as Polkadot’s use cases, Polkadot’s governance system, and the Polkadot ‘Relay Chain’, the central chain used by the Polkadot network that allows specialised and public blockchain to connect in a unified network.

Emil Urmanshin, Crypto General Manager at Revolut, said: “There’s a huge appetite from our customers to learn more about cryptocurrencies. ‘Learn & Earn‘ will help them better understand the trends, risks and potential opportunities associated with Crypto. Our collaboration with Web3 Foundation on Polkadot, one of the most popular blockchain networks, will help customers become more familiar with crypto concepts.”

Revolut plans to add more courses to ‘Learn and Earn‘ this year to enable more people to take better control of their finances and give them safe access to new tools and services.

Revolut Ltd, a company established in the United Kingdom, offers a wide range of financial products through its financial superapp, and crypto is an increasingly popular feature.

There are several ways to buy and sell crypto on Revolut. Customers can set up a stop or limit order so they don’t have to time the market, or use the Recurring Buy feature to average out volatility. Customers can also roundup any spare change in a cryptocurrency of their choice. Customers can now invest in more than 80 cryptocurrencies on Revolut, more than 40 of which have been added since the beginning of this year.

As part of our goal to be the safest place to trade, use and learn about crypto, Revolut regularly communicates with customers that crypto tokens are volatile assets and prices can change quickly. Revolut believes in widening access to crypto and also recognizes that it may not be appropriate for everyone, so the company encourages its customers to research the various cryptocurrencies and the risks and opportunities before buying or selling. Customers should review independent sources and learn the differences between tokens as well as considering their personal circumstances when buying or selling crypto. Cryptocurrencies are unregulated. Funds are not protected and their price is extremely volatile. Tax could be payable on gains.

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