Re:Revolut raises $500M at a $5.5B valuation
by peteretep on Tuesday February 25, 2020 @06:07AM
(#22412272)
What’s dubious about their crypto service? They’re offering a way to give yourself simple exposure to crypto without a wallet. As the primary use of crypto right now is speculation, seems ideal.
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Re:Revolut raises $500M at a $5.5B valuation
by lawn on Tuesday February 25, 2020 @06:57AM
(#22412441)
That you're not actually buying cryptocurrencies with it. It's just an IOU from Revolut, with very dubious protection. With the unregulated part of crypto I would bet you'd have absolutely zero protection if Revolut went out of business or just closed your account for some unknown reason.
Re:Revolut raises $500M at a $5.5B valuation
by peteretep on Tuesday February 25, 2020 @08:22AM
(#22412947)
That’s true of any deposit with Revolut as they’re not a bank — as I understand it anyway. It’s as true of Euros or USD as it is for Bitcoin. They’re done as a business the first time they lose customer money though, and that feels like a reasonable hedge.
Re:Revolut raises $500M at a $5.5B valuation
by ValentineC on Tuesday February 25, 2020 @09:30AM
(#22413478)
> They’re done as a business the first time they lose customer money though, and that feels like a reasonable hedge.
I don't know if they're required to undergo any financial audits, but I hope they don't grow "too big to fail" when they inevitably get compromised in some way.