Revolut is giving away Bitcoin for Black Friday

By Aisling Finn on Thursday 26 November 2020

Digital Banking

The giveaway is part of Revolut’s Black Friday Crypto competition that runs until Sunday 29 November. 

Revolut is giving away Bitcoin for Black Friday
Image source: Revolut

It seems Revolut has jumped on the Bitcoin bounce bandwagon, promising to gift one Bitcoin to a lucky customer by the end of the week in honour of Black Friday.

Revolut is gifting the cryptocurrency to one customer as part of it Black Friday Crypto competition, which is only open to customers in the UK.

The banking challenger has offered crypto to users since 2017, since which it has boomed as a part of its monetisation strategy, as its chairman Martin Gilbert recently told AltFi in an interview

Bitcoin’s price has soared in 2020, reaching prices of well over $19,000 (£14,200), currently standing at around $19,157 (£14,300).

In order to be in with a chance of winning, Revolut users have to set up a Crypto Recurring Buy worth at least €10 (£9) by midnight on Sunday 29 November. 

Customers that already have a recurring transaction set up worth at least €10 (£9) and make a transaction between 25 November and Sunday will also be eligible for the pricey prize.

Earlier in the year, Revolut made crypto trading, as well as gold and silver trading, free for all customers following a surge in popularity. 

The digital banking service also revealed that, following a slight decline at the beginning of the lockdown, cryptocurrency trading became increasingly popular among its customers.

Between 20 April and 4 May, the average amount of cryptocurrency purchased jumped by 57 per cent and the amount bought per trade by 63 per cent.

In a two month period, from 16 March to 18 May 2020, users in the UK bought an average of £399 per week of cryptocurrency, whereas their European counterparts bought 30 per cent less, £280 per week.

Since then, Bitcoin has continued to go from strength to strength, edging ever closer to its all-time high of $19,783 (£14,800) per Bitcoin in December 2017.

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