Revolut Adds Exposure To Gold Amidst Global Economic Crisis
The global economic crisis is just beginning, according to some analysts. As you know, the whole world is under siege, and this time the enemy is an invisible one – the coronavirus pandemic.
Almost all countries all over the world are in lockdown at the moment, and people’s lives are definitely changing. They’re also searching for various safe havens and many individuals saw one in Bitcoin.
This is despite the fact that the most important coin in the market fell in price by more than 50% during the past week. But today, Bitcoin is up by more than 21% since yesterday, and things are looking better.
In other news, Revolut seems to be making some important moves these days in the middle of the global crisis.
Revolut brings a new feature – access gold
Revolut is a fintech that’s crypto-friendly, and it’s helping users diversify their portfolios amidst the global financial meltdown.
The financial platform that allows users to buy crypto reveals a new feature for premium users. It’s been just revealed that Premium and Metal customers have the ability to access gold exposure from the Revolut app.
The fintech company teamed up with the London Bullion Market Association to ensure that the money that’s invested by users in gold exposure is backed by physical gold.
Users to get the ability to access gold
Users will get the ability to access gold exposure via the application’s new commodities functionality.
The online publication noted that the company’s precious metals product owner, Ivan Chalov, said that Revolut is limiting the barriers to entry to gold.
“Much like investing in the stock market, many have felt closed off from obtaining access to gold, finding it difficult to know where to begin. We’ve made sure that obtaining access to gold exposure is as simple and low cost as possible, with users being able to trade at amounts that suit them,” Chalov said.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.