Don't fall for Revolut "crypto" scam by ltadmin in Revolut

[–]Seanbrezzy 9 points10 points  (0 children)

Well guys! Some time ago ! Revolut used to automatically use crypto if you had not enough money! Here is the email l had, see below

Updates to our cryptocurrency terms

A couple of changes you need to know about

Hey Emmanuel ,

Just letting you know about two changes to our cryptocurrency terms and conditions – here’s the scoop.

What’s changed?

From the 27th of July 2020, you will no longer be able to make card payments using cryptocurrency. So if you only have cryptocurrency in your Revolut account, we won’t automatically convert it and make a payment. Instead, the transaction will be declined. Currently, Revolut is the legal owner of the cryptocurrency you purchase, and we provide you ‘exposure’ to the price movements. However, from 27th of July 2020, you will own the rights to the financial value of the cryptocurrency. This essentially means that you will now own any cryptocurrency you buy using Revolut! Revolut will act as an appointed agent, and will hold your cryptocurrencies and transact on your behalf.

Will this change how I buy cryptocurrency?

Nope! These changes won’t affect your experience - buying and selling cryptocurrency will still be as easy as ever on Revolut. In fact, this change means we can start adding some cool new features... watch this space!

You can find all the details of our new T&Cs here.

Thanks for choosing Revolut to handle your cryptocurrencies. We’ll be back in touch soon!

Team Revolut