Stellar Lumens added to Revolut digital bank

Stellar Lumens is now available to Revolut users. This makes Lumens (XLM) as sixth supported cryptocurrency. Revolut says it added XLM due to high demand.

Starting today, Revolut users will be able to buy / sell and store XLM using their regular accounts. Other supported crypto currencies available for purchase include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Ripple (XRP).

Other than UK- and EU-users, Revolut is available to US users as well except for people living in Tennessee.

It shall be noted that while Revolut lets you buying various crypto currencies, you never actually own them. They remain inside Revolut’s ecosystem.

Starting July 27th 2020, users do get legal control over crypto currencies bought by them, but you never actually get hold of secret / private key which gives you full control. Remember, not your keys, not your coins. In case of hack, consider your funds gone.

The best way to buy and store XLM and other cryptocurrenices is to buy them using fiat and then storing them on crypto hardware wallet like Ledger or Trezor.

Ed Cooper, Revolut’s head of cryptocurrencies told Coindesk that by adding XLM and making users legal owner of cryptocurrencies, Revolut is making important changes to their crypto currency product.

Revolut is one of most fast-growing fintech companies in UK and EU. They recently partnered with Paxos to bring their services to USA.