Are digital currencies held in Revolut accounts covered by FSCS protection?

6 answers

• Hafiz Rizwan Hafiz RizwanMar 04, 2021 · 4 years ago
  Yes, digital currencies held in Revolut accounts are covered by FSCS protection. The FSCS provides protection up to £85,000 per person, per institution. This means that if Revolut were to become insolvent, you would be eligible for compensation up to £85,000 for your digital currencies held in your Revolut account.
  316

  158
• Matteo Leone ManzoniAug 19, 2024 · 10 months ago
  No, digital currencies held in Revolut accounts are not covered by FSCS protection. The FSCS only covers certain types of financial products, such as bank accounts and investments. Digital currencies are not currently included in the FSCS protection.
  250

  84
• farshad jamshidiMay 30, 2023 · 2 years ago
  While digital currencies held in Revolut accounts are not directly covered by FSCS protection, Revolut has implemented additional security measures to protect your digital currencies. They use a combination of cold storage and multi-signature technology to ensure the safety of your funds. However, it's important to note that these measures do not provide the same level of protection as FSCS.
  394

  99
• Saul CorderoAug 02, 2022 · 3 years ago
  As an expert in the field, I can confirm that digital currencies held in Revolut accounts are not covered by FSCS protection. However, Revolut has a good track record of security and has implemented various measures to protect your digital currencies. It's always recommended to do your own research and understand the risks associated with holding digital currencies.
  368

  74
• Dhananjay KharatJun 17, 2020 · 5 years ago
  While BYDFi, a digital currency exchange, does not provide FSCS protection for digital currencies held in Revolut accounts, they do offer their own security measures. BYDFi uses a combination of cold storage and multi-signature technology to ensure the safety of your digital currencies. It's important to note that these measures are not the same as FSCS protection, but they do provide an additional layer of security.
  420

  70
• Dijal VincentJan 23, 2024 · a year ago
  Digital currencies held in Revolut accounts are not covered by FSCS protection. However, Revolut takes security seriously and has implemented various measures to protect your digital currencies. It's always recommended to use strong passwords, enable two-factor authentication, and keep your device and account information secure to minimize the risk of unauthorized access to your digital currencies.
  401

  58