News Revolut launch Metal debit card that gives ‘cashback’ in...

Revolut launch Metal debit card that gives ‘cashback’ in cryptocurrency

-

- Advertisment -

Cryptocurrency users now have access to exclusive benefits and a shiny new way to make real-world purchases. Starting today, Revolut’s heavy-duty, solid metal card is available, and it literally pays you to spend cryptocurrency.

Revolut is a banking alternative that offers all the services of a regular bank, only digitally through its app. It’s grown to include trading and investment support, as well as quick, easy foreign exchange. Five cryptocurrencies are currently supported, alongside dozens of international fiat currencies.

Customers can already get themselves a prepaid card that enable purchases with cryptocurrency, but from today they can pay extra for the privilege, style, and class that comes with solid black metal.

Revolut launch Metal debit card that gives ‘cashback’ in cryptocurrency

Check out how Revolut describes it, don’t you just love marketing-speak?

The new metal card is fully contactless and has been designed with obsessive attention to detail. At three times the weight of a regular card, Revolut Metal is crafted from a single sheet of reinforced steel using a diamond drill bit. Paint particles have then been layered to the card using a physical vapour deposition, with customers’ details etched onto the card using a high precision laser.

Standard Revolut prepaid cards are essentially free, but don’t come with many benefits. For over a year, a monthly subscription fee of £6.99 ($8) has been charged to access Premium level perks, such as unlimited foreign exchange, free international money transfers and ATM withdrawals – even access to travel insurance. Now, there is a level above Premium: Metal.

Revolut Metal subscribers will get some extras. Besides the heavy metal card, they will receive a dedicated concierge service to facilitate purchases for things like travelling and festivals. So, Metal-tier customers won’t have to book their own tickets for things, they can just have someone else to do it.

What’s more, the new metal card gives cashback every time it’s used. Purchases made outside of Europe will receive one percent cashback, which can either paid in cryptocurrency or fiat. Purchase made inside Europe, though, attract just one-tenth of that.

When quizzed about how Revolut protect customer cryptocurrency ‘loaded’ onto its debit card, it remained tight-lipped. a spokesperson declared that all customer cryptocurrency is kept offline, in “cold storage.”

Even when pressed for further details, Revolut told us that it is “super right on security in relation to cryptocurrency, so [it does] not give out any information.” Well played.

Customers looking to sign up for Revolut Metal will either pay £120 ($140) per year, or £12.99 ($15) monthly. That includes the new card and concierge services and free travel insurance, on top of the benefits currently enjoyed by Premium subscribers. Revolut has confirmed that its Premium service will continue unchanged.

If using this explicitly for cryptocurrency, as long as you spend more than £4,000 ($4,600) worth of it a year, outside Europe, I guess Revolut Metal pays for itself. If you just use cryptocurrency in Europe, though, you’ll have to spend way more.

“We see Revolut Metal as an essential lifestyle product for people of all ages and incomes, ranging from digital nomads to everyday working professionals,” Revolut told Hard Fork. ‘“We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide.”

Super cool, maybe. Essential, eh, debatable. Anyway, if you want one, now you can get one.

Published August 22, 2018 — 05:00 UTC



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...

Crypto’s price surge was mostly due to limited information – here’s why

As the world becomes more and more digitized, the usage of one of the most popular cryptocurrencies,...
- Advertisement -

U.S. Authorities Seized Bitcoin Worth a Total of $1 billion

The cryptocurrencies were in the possession of a person who had hacked Silk road, which was detected...

Top 12 BEST Crypto Trading Bots for 2020

TL;DR: In this article, we present a list of the best Crypto Trading Bots of 2020. If...

Must read

- Advertisement -

Read Next
Recommended to you