Paxos hitting the news again.
One of the worst exchange partnering with another bad actor, Revolut, who tried to smuggle a shitty CFD on Bitcoin as Bitcoin.
Here is the news:
Revolut partners with Paxos to bring cryptocurrency trading to the USUsers in the U.S. can now buy, hold and sell Bitcoin and Ethereum from the Revolut app. The feature is going to be available in 49 states as there are some regulatory issues in Tennessee. If you have USD or other currencies in your Revolut account, you can exchange manually whenever you want.
These are actually CFD:
Revolut made some changes to its cryptocurrency feature recently. While you now technically own your cryptocurrencies, you can’t send and receive cryptocurrencies from third-party wallets. The feature is all about trading — buying, holding and selling.
EDIT:
Jameson Lopp adding his tough on the Revolut “BTC”:
https://twitter.com/lopp/status/1283348325715107841?s=21In addition to that, I opened a thread to give more visibility to Zucco’s
Treatise on Privacy: it’s clearly explained why actors as Coinbase and Paxos are bad for bitcoin, their clients and even those interacting with those subjects.
Why did I think of paxful, when I saw paxos....
Different company.. that is more like local bitcoins....
https://paxful.com/I cannot keep up with some of the name similarities.
