Crypto-friendly app cautions users to ‘reassess’ XRP holdings

CoinTelegraph

Revolut, a crypto-friendly trading app, is reportedly issuing a strong warning to its customers regarding buying and selling XRP.

According to news outlet The Irish Times, the FinTech firm recently sent out a notice to its customers saying it was still possible for the firm to delist or restrict trading on XRP with little or no notice. Revolut warned users that their funds could effectively be stuck without the means to sell tokens even if the price falls to zero “in a worst-case scenario.”

“It’s important that you constantly reassess your crypto holdings, specifically XRP, and whether you remain comfortable with the associated risks,” said Revolut.

How To Get Free Crypto  

Revolut users are limited to trading within the app and can’t send or receive crypto from third-party wallets. The firm said the recent charges from the U.S. Securities and Exchange Commission could cause liquidity on some of its partner crypto exchanges to drop as they delist the token, leaving Revolut unable to buy or sell XRP.

A number of crypto exchanges, including Coinbase, have announced they will suspend XRP trading starting this week in response to the SEC taking legal action against Ripple. The commission has charged Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities offering” in selling XRP tokens.

Last year saw the U.K.-based money app expanded its crypto trading services to Australia and the United States, reportedly accelerated by growing interest in crypto during COVID-related lockdowns. Revolut users held roughly $120 million worth of crypto in 2019 despite the firm reporting massive losses the same year.

At the time of publication, the price of XRP is $0.23, having risen 2.6% in the last 24 hours.

Go to Source
Author: Turner Wright


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.