{"id":16738,"date":"2021-05-03T17:38:00","date_gmt":"2021-05-03T17:38:00","guid":{"rendered":"http:\/\/ci02822ea180002458"},"modified":"2021-05-03T17:38:00","modified_gmt":"2021-05-03T17:38:00","slug":"revolut-to-allow-bitcoin-withdrawals","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/revolut-to-allow-bitcoin-withdrawals","title":{"rendered":"Capitulating To Customer Demand, Revolut Will Allow Bitcoin Withdrawals"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Revolut, one of the world\u2019s largest mobile financial services platforms, historically has allowed users to purchase bitcoin on the platform, but not transfer it to wallets that they control. However, per a leaked blog post found by <a href=\"https:\/\/www.altfi.com\/article\/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post\" target=\"_blank\" rel=\"noopener\"><em>AltFi<\/em><\/a><em>, <\/em>premium customers will soon \u201cget beta access to transfer their Bitcoin holdings out of Revolut.\u201d<\/p>\n<p><em>AltFi <\/em>reported that the announcement was made on Revolut\u2019s corporate blog, before being quickly deleted. A spokesperson has since confirmed the news, and the option should become available on May 6.<\/p>\n<p>\u201cThe limitation of not being able to store your holdings anywhere apart from Revolut has long deterred traders, as it seemingly goes against the decentralized, open principles which underline crypto,\u201d <em>AltFi <\/em>reported. \u201cIt has also stopped traders from using crypto bought via Revolut as a medium of exchange, given they haven\u2019t been able to send or transfer bitcoin to other customers.\u201d<\/p>\n<p>The deleted announcement revealed that the firm was \u201cstarting with Bitcoin, but we\u2019ll be adding more tokens and upgrades in the near future.\u201d The report also mentioned that only three external addresses can be added to the app while withdrawals would be limited to \u00a31,000 per month or \u00a3500 per day, with limits being reviewed in the future.<\/p>\n<p>Notably, financial institutions like PayPal, which offer similar bitcoin investment options, d<a href=\"https:\/\/bitcoinmagazine.com\/culture\/paypal-brings-users-to-bitcoin-but-not-the-bitcoin-network\">o not allow their users withdraw their bitcoin<\/a> into wallets for which they control the private keys and, therefore, the funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial services platform Revolut will allow users to withdraw bitcoin to their own wallets, something firms like PayPal should consider.<\/p>\n","protected":false},"author":3283,"featured_media":16739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[895,2061],"class_list":{"0":"post-16738","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-private-keys","9":"tag-revolut"},"author_data":{"id":3283,"name":"Oluwapelumi Adejumo","nicename":"oluwapelumi-adejumo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/oluwapelumi-adejumo-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/as-the-allure-of-holding-fractional-reserves-increases-proof-of-reserves-can-help-clients-of-custodial-platforms-verify-if-their-funds-are-there-or-not.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3283"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16738"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/16739"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}