Revolut, a London-based digital banking startup with a retail-focused cryptocurrency exchange and trading app, has released a new feature called “Auto-Exchange,” which allows users to instantly convert funds into 24 different fiat currencies and 5 cryptocurrencies with pre-selected rates.
Trying to get the best exchange rate ahead of your holiday or protect yourself from market volatility? Meet Auto-Exchange ?https://t.co/Hwv35ucgA1
— Revolut (@RevolutApp) March 5, 2019
According to the announcement, users must simply choose the two currencies they wish to exchange, the amount they want to convert and tap on ‘Set target.’
The system is functionally similar to setting limit trades, where no exchange will happen unless a pre-determined price (rate) is reached. Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Bitcoin Cash (BCH) and XRP (XRP) are all supported, in addition to fiat currencies like the dollar and euro.
“Auto-exchange is perfect for trying to get the best exchange rate ahead of your holiday or protecting yourself from market volatility,” Revolut stated in an email to customers on Thursday.
Announcement: Introducing Auto-Exchange
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.