Token Tuesday: Digital Bank Revolut Adds More Digital Assets for Trading

Token Tuesday: Digital Bank Revolut Adds More Digital Assets for Trading

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Digital bank Revolut says that over the next several weeks that it will be adding new digital assets for trading each Tuesday. Revolut states that “Token Tuesdays will add new cryptocurrencies to the 21 tokens already supported in the banking app. The bank states that it continues to respond to customers’ requests for additional crypto offerings. The move is most likely seeking to keep crypto-interested clients in-app as opposed to trading on other crypto exchanges.

Today, Revolut is adding eight new Network and Oracle tokens:  ATOM, NKN, MATIC, ALGO, CELO, BAND, LINK and TRB. These tokens will be available for trading in Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovenia, Spain, Sweden, and the United Kingdom.

Revolut said it will be including a series of educational articles about crypto trading while reminding account holders that digital assets are risky assets and prices can change rapidly. Revolut notesd that crypto trading may not be appropriate for everyone.

Interest in cryptocurrency trading continues to grow along with greater institutional acceptance. Meanwhile, rapid price changes can drive gains but also losses. The price of Bitcoin has shifted dramatically in the past month – reaching new highs but then dropping in price.

Revolut shared the following descriptions of additional crypto listings available in its banking app:

NETWORK new tokens:

Cosmos Hub (ATOM)

Cosmos is a decentralised network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus. It is an ecosystem of blockchains that can scale and interoperate with each other. Before Cosmos, blockchains were siloed and unable to communicate with each other. They were hard to build and could only handle a small amount of transactions per second. Cosmos solves these problems with a new technical vision.

NKN (New Kind of Network) (NKN)

NKN (New Kind of Network) is a new generation of highly scalable, self-evolving and self incentivised blockchain network infrastructure. NKN addresses the network decentralisation and self-evolution by introducing Cellular Automata (CA) methodology [1, 2] for both dynamism and efficiency. NKN tokenizes network connectivity and data transmission capacity by a novel and useful Proof of Work.

Matic/Polygon (MATIC)

Ethereum’s Internet of Blockchains Polygon (previously Matic) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks

Algorand (ALGO)

Algorand builds technology that accelerates the convergence between decentralised and traditional finance by enabling the simple creation of next generation financial products, protocols and exchange of value.

Celo (CELO)

Celo’s aim is to empower anyone with a smartphone anywhere in the world to have access to financial services, send money to phone numbers, and pay merchants. All on a decentralised platform that is operated by a community of users. To achieve this, Celo is a complete stack of new blockchain software, core libraries that run on that blockchain, and end user applications including a Wallet app that communicates with that logic.”

ORACLE new tokens:

Band Protocol (BAND)

BandChain is a high-performance public blockchain that allows anyone to make a request for APIs and services available on the traditional web. It is built on top of the Cosmos SDK, and utilises Tendermint’s Byzantine Fault Tolerance consensus algorithm to reach immediate finality. This finality is specifically reached upon getting confirmations from a sufficient number of block validators.

ChainLink (LINK)

Chainlink is a decentralised oracle network which aims to connect smart contracts with data from the real world. Chainlink’s decentralised oracle network provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain.

Tellor (TRB)

Tellor is a permissionless community of token holders, data providers, and validators. Together, they cryptographically secure putting real world data on-chain.

Risk Disclaimer

Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.

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