Revolut Introduces Crypto Card, Customers Can Earn Dogecoin Rebates

Revolut, which is a British fintech and banking company, has decided to launch a new feature called “spend with cryptocurrencies”. This feature helps convert customers’ crypto balance into fiat money.

This will essentially make it faster for Revolut cardholders to sell their crypto assets and funnel money to their credentials in real time to pay for everyday purchases.

Customers can pay online for e-commerce and purchases in person. The conversion transaction will be subject to the current exchange rate and the exchange rates are applicable to the user’s subscription plan.

Pay with crypto offers a cashback feature for its customers.

Revolut will give its customers 1% cash back in digital assets for purchases made with one of nearly 100 supported tokens, including Bitcoin, Dogecoin, and Ethereum.

The cashback will be given to customers in the same currency the transaction is made in, so for example if someone spends in Dogecoin, the 1% cashback will also be given in Dogecoin.

This new feature can be activated on any card, which would allow customers to exchange between the different currencies they spend in, which also includes digital assets.

The cashback promotional feature is currently only available to UK customers and the company has not revealed how long this promotion will be valid.

Revolut, in the month of August, added 22 more coins, bringing the total count on offer to more than 40.

Crypto cards are gaining traction recently

These days, crypto cards have become quite popular because they help customers withdraw their digital assets and spend them at various card-accepting merchants around the world.

They are beneficial in helping to solve one of the main disadvantages of digital assets.

Turns out it’s the inability to use these cards for everyday transactions in the same way that traditional finance helps with transactions.

In parallel with the launch, Revolut created a series of “Learn and Earn” courses.

The reason behind creating these courses was to help clients improve their knowledge of cryptocurrencies and topics related to that specific topic.

These topics include blockchain, popular tokens, and protocols.

Revolut to bring crypto into the spotlight

Emil Urmanshin, General Manager of Crypto at Revolut, mentioned that,

This year, we not only increased the number of cryptocurrencies available in the Revolut app to around 100 tokens and launched the Crypto Learn & Earn educational courses enjoyed by millions of our customers.

Furthermore, Revolut also stated that,

Now, we're making crypto even more popular by letting people use crypto-enabled cards to spend their tokens on everyday purchases.

This news follows Mastercard’s announcement and partnership with the world’s largest digital asset exchange to introduce digital currency payments in luxury stores.

Last month, Revolut was added to the Financial Conduct Authority’s asset register, giving it the right to offer digital asset services in the UK.