The launch of brand new high-end Metal Card of Revolut allows one to earn the cash back of 1% outside of Europe & 0.1% in Europe in any of available 25 fiat currencies or 5 cryptos viz. Bitcoin (BTC), Bitcoin Cash (BCH), XRP, Ethereum (ETH), and Litecoin (LTC).
A high-end shiny card that gives cash back in crypto
Now, Revolut users get to enjoy its most exclusive card as the European fintech launches Revolut Metal that offers the cash back in cryptocurrencies. For crypto enthusiasts, this is the perfect opportunity to make a real-world purchase and earn in return.
A banking alternative, Revolut offers all services of a regular bank through its app. Apart from supporting a number of fiat currencies, Revolut also supports 5 cryptocurrencies viz. Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (LTC) and XRP.
The cashback offered is paid in any of these 5 cryptos and 25 fiat currencies supported by Revolut. When it comes to cash back in crypto, it is available on card purchases, its premium features, travel insurance, personal concierge and on the global ATM withdrawals per month of more than £600 ($771.3) as reported by Forbes.
This special metal bank card will cost £12.99 ($16.69) per month or £120 ($154.2) for the year. As for the cashback, it starts at 0.1% for card transactions made in Europe. However, as for payments made outside Europe, the cash back in either crypto or fiat is 1 percent.
With about 2.5 million users across Europe, it will further expose these five cryptocurrencies to the population. Reportedly, in December, last year, Revolut became the first digital banking startup to make profits, especially because of its £6.99-a-month Premium tier.
Also, read: Key Executive Exit Leaves Tron’s Acquisition of BitTorrent Lacklustre
Revolut’s big plans for the future
Nikolay Storonsky, the CEO of Revolut stated on its launch,
“We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide.”
Revolut is working hard on adding more feathers in its cap as apart from personal loans and insurance, it is planning to soon launch commission-free shared trading.
It has already raised about $250 million from investors, and the launch according to Stronsky will further boost its investment opportunities as he shared,
“The launch of Revolut Metal is also an important step towards the company generating additional revenue, especially as we prepare to launch a commission-free trading platform and expand the business into North America and Asia later this year.”
The company already offers crypto trading and allows the purchase of cryptocurrencies with “No deposit fees. No subscription fees. No exit fees. We only charge a simple, low-cost 1.5% markup on the average exchange price” as per its website.
According to the last funding round of Revolut, its business is valued at $1.7 billion which is a significant increase from its previous round six months back that valued it at $30 million. The company is hard at work to rake in more business and profit by introducing exclusive Metal card and cash back in cryptos.
Bitcoin Cash market overview: BCH/USD lethargic bullish momentum stalls at 61.8% Fib level
- Bitcoin Cash remains bulls despite the confrontation at $330 resistance.
- Several support areas are ready to prevent declines from paralyzing the bulls.
Bitcoin Cash failure to break above $360 during the trading sessions last week. This left a gap that the bears wasted no time exploring. BCH/USD bearish action trimmed the gains first below the moving averages. The tentative support around the 38.2% Fib retracement level taken between the last drop from a high of $358.16 to a low of $267.35 close to $300.
The negative volatility surged sending Bitcoin Cash briefly under $270. A low established at $267.35 allowed the rebound above $300. The battle to break the resistance at $330 is yet to be won. Instead, Bitcoin Cash is trading sideways in a narrow range between the confluence created by the 50% Fib level and the 50 Simple Moving Average (SMA) and $330 hurdle.
Several support areas are ready to prevent declines from paralyzing the bulls. They start from the above-mentioned confluence, $310, $300 and $290.
The trend is still inclined to the positive despite the inability to break above $330. The full stochastic oscillator brushed shoulders with 70. However, a possible retreat is likely to signal a reversal.
BCH/USD 1-hour chart
Bitcoin Cash Price Analysis: BCH Records 9% Downtrend in 7 days Trading Below $310
- BCH may go bullish to climb upto $350 again in the next 2 weeks
- BCH may close today at $310 or above
The last 7 days have been a bumpy ride for the BCH token holders especially when the coin slumped steeply from $357 to $276. But, this may change soon and it may rise upto $350 again in the next 2 weeks of this month. The current market statistics also indicate a surging trend ahead when the coin may also cross $350 value for a brief moment.
BCH to USD Price Statistics:
In the last 7 days, BCH token has recorded a downtrend of over 9% dipping from $336.42 to its current value at $306.08 as on August 18, 2019, at 08:27:09 UTC. The coin started climbing up in the beginning and surged up to $357.49, but then it dropped almost steeply to reach as low as $276.22 around August 15. BCH has picked up some pace since then and may cross $310 soon.
- The price of BCH token is now $306.08 and 0.03015062 BTC
- The market cap has reached $5,495,593,966
- The ROI of the coin stands at -44.94%
- The circulating supply is now 17,953,788 BCH
The lowest recorded value of BCH token yesterday was $301 and it is already much above this value today. The coin seems to be headed in an upward direction and may take its traders on a sudden upward surge by climbing up to $310 soon.
Bitcoin Cash Price Prediction:
The highest recorded value of Bitcoin Cash in the last 90-days was $522 and in the last 30 days, it was $353. The coin may cross $350 by the end of this month and may start trading between $350 and $500 in the next 2 months. It is only a matter of time for BCH token to gain mass adoption, which may further push this crypto towards rising trends.
This can be regarded as a good phase to plan long term bulk investments in the BCH token and save for future benefits.
Bitcoin Cash (BCHUSD) weekly forecast on August 19 — 25, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 317. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCHUSD) weekly forecast on August 19 — 25, 2019
As part of the Bitcoin Cash forecast, a test of level 345 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 220. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 355.
The cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 420. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin Cash (BCHUSD) weekly forecast on August 19 — 25, 2019 implies a test level of 345. Further, it is expected to continue falling to the area below the level of 220. The conservative area for selling Bitcoin Cash is located area of 355. Canceling the option of falling cryptocurrency will be a breakdown of the level of 420. In this case, we can expect continuation growth.