UpdatesJun 28, 2023

Revolut will lower the fees associated with trading digital currencies

British fintech has declared that it will reduce fees related to cryptocurrency trading.

According to a press release issued by the British company Revolut on Tuesday, June 27, the company decided to reduce some of the fees related to cryptocurrency operations in its application. The move was a direct response to numerous requests from customers of this financial company.

Revolut will lower fees related to cryptocurrency operations

A well-known British company that provides banking services, as well as enabling easy trading of individual digital currencies, has decided to change the commissions charged to customers for cryptocurrency trading.

Revolut said the latest decision was made after hearing a number of requests from its customers. At this point, it is worth adding that the latest change in the reduction of commissions on cryptocurrency operations covers both users with standard and premium accounts.

Revolut customers will be the beneficiaries of the decrease in fees related to cryptocurrency trading as commissions will be reduced from 1.99% to 1.49%. Premium and Metal customers will receive discounts from 1.49% to 0.99%.

Revolut is known for its wide range of financial instruments and offering the exchange of numerous fiat currencies. This British financial company, in addition to banking services, also enables investments in shares and digital currencies. For operations related to the purchase and sale of cryptocurrencies, this application has been open since November 2017.

Cryptocurrencies with a strong price bounce

The bear market that spread over the digital asset market in 2022 led to a strong decline in broadly understood trading activity from investors around the world. Over the course of this year, Bitcoin (BTC) and many other major altcoins experienced a visible price rebound, and the industry's forefront began to recover.

Recently, as a result of the possibility of approving a BTC ETF for the spot market, the mood among the community focused around digital currencies has been intensively improved. As a result of these events, the price of the oldest cryptocurrency exceeded the psychological barrier of USD 30,000 for one coin.

Despite visible gains on the price charts, many digital currencies are still far from their historic 2021 price peaks. This difference is even 80-90%. BTC is currently changing hands at a 56% decline from its ATH.