Crypto-friendly British app revolut reportedly tripled losses in 2019
Will you call an app where you can only buy bitcoin and hold it call crypto-friendly?
Maybe but if you know you can't send your bought Bitcoins to another wallet, just hold it there, and the Market Cap Price for BTC they use it's far away from the Coin Market Cap- probably not. And if you think Bitcoin itself is cheap and you have to the worse market cap price to pay high fees for exchanging, does this really give you a benefit to do? All other functions and different cards just a money machine. Revolut, a crypto-friendly trading app and one of the biggest fintechs in Europe, reportedly tripled its losses in 2019 despite growth in revenue and new customers.
The London-based company reportedly posted a total loss of more than 106 million British pounds ($139 million), up from about 33 million pounds ($43 million) in 2018.
Nik Storonsky, founder and CEO at Revolut, outlined that the massive losses in 2019 came despite a significant surge in customers, CNBC reports Aug. 11. “We increased daily active customers by 231% and the number of paying customers grew by 139%,” Storonsky noted. fintech. In other words Revolut is not a future money provider or different from N26 and others. It is more expansive and has no advantages. But it sounds huge - Wirecard did also.