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September 22, 2020
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Revolut reported a 68% increase in cryptocurrency trading – Blocksats

Data provided by the British financial application Revolut show that coronavirus restrictions and restrictions have affected the amount and value of cryptocurrency transactions carried out by its users.

You won’t buy real cryptocurrencies in Revolt

Almost a third of Revolut’s 10 million customers traded kryptowalutami in the application. It is intended mainly for beginner, retail users. In fact, Revolut does not allow physical purchase Bitcoinbecause it cannot be sent to an external wallet or used to pay for goods or services where they accept this form of payment. By investing in the Revolut application, we only buy exposure to kryptowalutywithout becoming their real owners.

British users returned to trading in April

Due to the March restrictions in the UK, the average transaction value fell by 58%, from $ 663 to $ 281. In April, users started trading again because confidence in cryptocurrencies has grown rapidly. The average value of purchases made by users at the end of the month increased by 57%. There was also a 68% increase in the number of users trading digital assets. In March, the average value of a single transaction decreased by 52%, then in April it rebounded and gained 63%.

Ripple defeated Ethereum

Bitcoin (BTC) in March and April was the most popular digital asset, constituting 51% of all transactions made in the Revolut application. Ripple (XRP) came in second – 20%. On the third Ethereum (ETH) – 14%. litecoin (LTC) and Bitcoin Cash (BCH) represented a total of 16% of all transactions.

Revolut’s data also shows a strong correlation between the user’s age and the sum of cryptocurrencies purchased by him. The average transaction value for people aged 55-64 was USD 423. On the other hand, people aged 18-24 bought cryptocurrencies worth USD 134 on average.

Commercial activity in Great Britain was about one-third higher than in Europe.

Contrast with the United States

Data on British users presented by Revolut contrast with record-breaking volumes in March announced by CryptoCompare. The platform pointed to the frenzy of commercial activity among specialists and institutions. According to the report, the largest was produced on March 13 volume in the history of cryptocurrencies. At that time, all exchanges and markets recorded USD 75.9 billion in digital assets trading within 24 hours.

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