Purchase, exchange, withdrawal of cryptocurrencies through Revolut, for and against
In recent years, the online bank Revolut has become a popular platform not only for banking operations, but also for working with cryptocurrencies.
True, it should be understood that Revolut is not a full -fledged crypto -rope, but only a mediator with limited functions.
Although, in fact, there is almost everything that is needed in the revolution for full work with cryptocurrencies - the possibility of buying, exchanging, transferring, receipt and sale of digital assets.
That is, if desired, you can buy cryptocurrency for fiat money for a few seconds, directly in your banking application.
Let's figure out exactly how to buy, exchange and withdraw cryptocurrencies through Revolut, as well as which commissions are waiting for you.
Buying cryptocurrencies via Revolut
Revolut allows you to buy popular cryptocurrencies (for example, Bitcoin, Ethereum, XRP, LTC, ADA, etc.) right in the app, up to 300 tokens are available.
The purchase process is extremely simple:
Entrance to the application . To get started, it is necessary to download the application from the official Revolut website and go through the verification procedure.
- Access to the cryptocurrency section. In the main menu you need to select the Cryptocurrency tab.
- The choice of cryptocurrency and amounts. Select the desired asset and indicate the purchase amount.
- Confirmation of the purchase. Check the final cost taking into account the commission and confirm the deal.
After the purchased cryptocurrency appears on your account, it can be transferred to the wallet of another user or your personal wallet for long -term storage or sell with profit.
Revolut does not offer you an individual wallet, but only displays the purchased cryptocurrency in the interface. This means that you do not own private keys, but in fact, your crypto acts are stored in Revolut. But at the same time, you are a full -fledged owner of purchased assets and dispose of them.
You also have the opportunity to receive transfers from other sources on a crypto wallet into a revolution. To do this, choose a cryptocurrency that you want to get and by clicking on three points to choose "get".
Cryptocurrency exchange in the Revolut application
Cryptocurrency exchange in Revolut is carried out instantly using the internal liquidity of the service. You can exchange one cryptocurrency for another or convert a cryptocurrency into a fiat (for example, EUR, PLN, USD).
Technical details:
There is no classic warrant. You do not see the market depth, and the transactions are executed at the price set by Revolut (which is close to the spoke price, taking into account the spread and commission).
At the same time, there is the possibility of setting delayed orders that allow you to buy or sell cryptocurrency at a given price.
Revolut Commission on Cryptocurrency Operations
Commissions for transactions with cryptocurrency through Revolut are as follows:
Commission for the purchase/sale of cryptocurrencies:
- For users of the base plan (Standard) - 2.5% of the amount of the transaction.
- For users of paid subscriptions (Plus, Premium, Metal) - 1.5%.
- The cryptocurrency exchange commission is the same (2.5% or 1.5%), since each exchange is equated with purchase/sale.
- Hidden spread - purchase/sale prices may differ from market ones, as Revolut adds its own spread to the market price (about 0.5%–1%).
At the same time, it should be taken into account such a moment that, unlike cryptocurrency brokers, the commission is taken twice - when buying and selling tokens. Therefore, for medium -term or short -term transactions, it is recommended to trade through brokers.
Revolut is a convenient tool for novice users who want to try to invest in cryptocurrencies without difficulties. But this advantage is almost completely leveled by huge transactions commissions.
Therefore, for long -term storage of assets, it is recommended to use specialized cold wallets. And for professional trading with a credit shoulder - cryptocurrency brokers .