XRP 😍 on Revolut


#1

thank you Revolut!
Thank you soooo much!!!


#2

It seems you’re an early customer because I don’t have it yet :frowning:


#3

But what can you do with it? If I understand correctly, there is no way to.spend these s/c cryptocurrencies from Revolut. All you can do is convert to them and convert back again. What’s the point?


#4

You can “use” them (quotes because not directly). If you are paying in USD and don’t have enought coverage then Revolut can use your Crypto to pay (by doing on the spot FX for you). So indirectly you can use them.


#5

I can do that from my account’s base currency (GBP in my case). What a the point in converting to Ripple, or Bitcoin or WankCash or whatever first?


#6

Both the App Store on iOS and Google Play does not instantly make updates available to all. So it can be a couple of hours before the update hits your phone. I got it this morning.


#7

As with every other up front exchange. If you think the price is low and you want to lock the exchange rate.

And if you like the future promise of cryptocurrencies.


#8

No, not as with every other exchange. The argument for converting money into a currency you are going to spend is to get certainty on how much of that currency you will have available. Converting to an unspendable and volatile currency increases uncertainty, surely?


#9

@BlackPrince Please send your concern and any other questions in other crypto related
posts and let me spread the joy here freely…


#10

Lol OK @revodrago

I have it too now :slight_smile:


#12

#13

So, what can I do with this in Revolut? Can I actually pay using XRP from Revolut? If I convert a GBP balance to XRP in Revolut am I actually owning XRP, or is the Revolut provision more like buying units in an ETF that tracks the XRP price?


#14

@BlackPrince everything you ask is explained in FAQs, you may want to read some of them before continue asking endless questions here… actually that goes of to all who just are too lazy to read.


#16

@Platin its pretty clear thats not what i said. If you stick around more often here, you will see how people just doesnt seem to care, there is faster and easier way to get answers for their most common questions. And its called FAQ.


#18

I can see no FAQ about XRP - just the blog post that Andreas has linked to, which does not answer this “endless” question.


#19

`There isn’t any specific FAQ section for XRP, however, there’s a section for Cryptocurrencies.


#20

Thanks, Andreas. So, does everything in that Help Centre topic about cryptocurrency apply to XRP?
So, we can’t spend XRP from Revolut, and we can’t receive XRP payments into Revolut. Given that I really don’t understand what it’s for, other than for currency speculation, which Revolut says is an unacceptable use of a Revolut account. What are the use cases for XRP in Revolut?
I don’t really understand the words about “wallets” there, but I am guessing it means that we don’t directly hold XRP, but rather it’s like an ETF that tracks XRP.


#21

If you are confused about the terms used, then you might want to look up how cryptocurrencies work in general. There is a lot of “newbie” information about Bitcoin and how wallets work etc. The basic principle is the same with XRP as it works on a blockchain etc.


#22

It’s not a question of what cryptocurrency is, but of what the purpose is of holding it in Revolut if we can’t pay with it. It looks to me like the only purpose is currency speculation, but the Revolut TS&C’s explicitly forbid that use of the Revolut account, so I am confused.


#23

I just use it as a “savings” account since there’s still no interest. However, a lot of people only buy and sell bitcoin in order to make profit and don’t make any purchases with it.