Leaked: Revolut users will be able to withdraw bitcoin to external wallets next week

Revolut accidentally reveals users will be able to withdraw bitcoin to external wallets
1 year ago
2 mins read

UK-based challenger bank Revolut has accidentally announced that paid customers will be able to withdraw bitcoin from the platform. 

The announcement was made through a blog post that has now been deleted due to a scheduling error, AltFi reports

The beta announcement was set for next week on Thursday. In the post, Revolut indicated that besides bitcoin, the platform plans to add more digital assets for withdrawal. 

Revolut notes that to withdraw bitcoin, users will only add a wallet address, enter the asset amount, and access the crypto.

As a beta version, metal paying customers will have a limit to withdraw £1,000 per month or £500 per day.

Revolut’s GIF from deleted blog post.

Staff member successfully withdraws bitcoin

Before the blog post, Revolut has made the announcement internally to employees stating one staff member had successfully used the feature. 

“Huge Revolut milestone to announce. Our public beta for crypto withdrawals has now soft-launched for all eligible users (UK metal customers). 🚀 And . . . our first user who is not a Rev employee has now successfully withdrawn Bitcoin to their own wallet, and this transaction is recorded on the blockchain,” Revolut said in a communication to employees. 

The firm maintains that all the assets are in cold storage with some of reputable crypto custodians.

Revolut notes that the platform’s blockchain analytics partner will screen all external crypto addresses to prevent vices like money laundering through the withdrawal feature. 

Currently, Revolut offers over 20 different cryptocurrencies where users can buy and sell via Revolut’s app.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.