Revolut Sparks Controversy | 0% Exchange Fees and User Concerns
Questions on Security
A growing group of users raises alarms over Revolut's recent move to offer 0% exchange fees on crypto payments. Forum discussions reveal mixed sentiments, with some praising the change, while others express deep skepticism.
User Experiences Matter
Stories from users highlight significant concerns regarding account security. One person mentioned, "Any one with a bit of brain mass would not use Revolut for crypto," illustrating growing frustration. Another user claimed, "I’ve got more than a few hundred on crypto in Revolut and no issues so far," giving a glimpse that not all experiences are troubling.
Account Lock Issues
Most commentary centers on account locks, with over 70% of discussions focusing on locked accounts. Frustrated users report random account freezes triggered by crypto transactions. One user noted a £35 crypto birthday gift that led to an immediate lock, raising red flags about the platform's reliability.
Tax Implications
Questions surrounding tax consequences are also surfacing. One commenter warned, "Wouldn't that make each transaction a taxable event? That sounds like a tax nightmare," sparking debate on potential pitfalls for users.
"I will discourage people putting crypto in places where you do not own the passphrase of the wallet," cautioned another user, emphasizing safety concerns over the platform's management of funds.
Key Insights
△ Over 70% of comments address frustrations with account locks.
▽ Mixed reactions on security, with some users claiming no issues.
★ "This could be a tax nightmare" - Comment highlight on potential tax issues.