Revolut customers turn to crypto trading under lockdown

Revolut’s UK users buy and sell cryptocurrencies at a much higher rate than their European counterparts.

Image source: Vlad Yatsenko and Nikolay Storonsky/Revolut

Revolut has today revealed that its customers have been jumping on the cryptocurrency bandwagon under lockdown.

Figures released from the fintech show that after an initial decline in crypto trading, in both the week before and the week after the lockdown was first announced, its users have begun trading cryptocurrency en masse.

After the dust settled, the number of users buying cryptocurrencies rose 68 per cent from 20 April to 4 May 2020, with the average amount purchased increasing by 57 per cent and the amount bought per trade increased 63 per cent.

In the same period, the number of users selling crypto increased by 38 per cent, the average amount sold rose by 36 per cent and the amount sold per trade jumped 13 per cent.

Revolut puts this trend down to “the possibility of a ‘return to…