Revolut Experiences Service Disruption Affecting Payments and Crypto Features

WHY IT MATTERS

Revolut is like a digital bank that also lets people buy and sell cryptocurrencies. When a platform like this goes down, users temporarily lose access to their money and crypto holdings, similar to how you cannot withdraw cash if your bank's ATM network goes offline. This event highlights an important concept in crypto called 'custodial risk,' which means that when a company holds your assets for you, you depend on that company's systems staying online and functioning properly. In contrast, if you hold crypto in your own personal wallet, you maintain access regardless of whether any single company's servers are working.