Buy Crypto with Revolut

Summary: Revolut, a mobile app offering investment in over 90 cryptocurrencies, is often viewed as a costly option in the UK and Europe due to its 1.5% trading fees. The platform's lack of Financial Conduct Authority (FCA) regulation also raises custodial risk concerns.

We recommend eToro as a safer, cost-effective alternative. This FCA-licensed exchange offers over 3,000 assets, including cryptocurrencies, stocks, and ETFs, all with no trading fees and competitive spreads. It's crucial to weigh factors such as fees, regulation, and asset variety when choosing a crypto investment platform.

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Website

Top Platform for Revolut Accounts

5.0 out of 5.0 by Datawallet

eToro is the best alternative to Revolut for crypto due to its FCA-regulated platform, extensive range of over 3,000 assets, and zero trading fees with competitive spreads.

Licensing & Regulation

Financial Conduct Authority (FCA), ESMA, CySEC and FINRA.

Available Assets

70+ Cryptos an 3,000 other assets.

Deposit Methods

Bank Transfer, SEPA Transfer, Faster Payments, Debit Card, Credit Card, PayPal and more

Can you Buy Crypto with Revolut?

Yes, Revolut's Crypto app allows users to trade digital assets, including over 90 tokens such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Dogecoin (DOGE), along with various altcoins. However, Revolut imposes a steep 1.5% transaction fee for cryptocurrencies, one of the industry's highest.

Moreover, their crypto services lack regulation from the Financial Conduct Authority (FCA), an important consideration for prospective users.

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How to Buy Crypto with a Revolut Account

The best way to buy Bitcoin and cryptocurrencies with Revolut is by withdrawing fiat from your mobile bank account to a regulated digital asset exchange in your jurisdiction. As mentioned earlier, our recommended platform for investors in the UK & EU is eToro because they are licensed, offer fast & cheap deposits from Revolut and has over 3,000 tradable assets on the platform.

You can get started in minutes with this guide:

Visit eToro to sign up and verify your identity.
Select the 'Deposit Funds' button on the bottom left of your screen.
Select your fiat currency (e.g GBP or EUR) and your payment method (e.g Bank Transfer) and complete your transfer from Revolut.
Complete the deposit and use the funds credited to your account to invest in crypto.

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Revolut Crypto fees

Revolut has one of the most expensive fee structures compared to other crypto investing platforms in the region. Their service charges variable fees depending on your "product plan" which is a monthly subscription fee that is as high as 11 Euros a month. Premium & Metal users pay a high 1.49% for paying a higher subscription tier and Standard & Plus users incur a 3% fee.

As a comparison, a regulated platform like eToro charges zero fees to trade and has a variable spread averaging 1% across its available assets.

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Is Revolut good for buying Crypto?

Revolut falls short as a preferred choice for crypto investors in the UK and Europe, mainly due to high transaction fees, a monthly subscription charge, and limited cryptocurrency options. Additionally, the lack of Financial Conduct Authority (FCA) regulation on their platform potentially amplifies custodial risks for investors.

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Bottom Line

In conclusion, while Revolut does offer cryptocurrency trading, the high transaction fees, monthly subscription cost, and limited selection of cryptocurrencies make it a less than ideal platform for investors in the UK and Europe. The absence of Financial Conduct Authority (FCA) regulation further compounds these concerns.

Instead, we recommend eToro as a safer, more cost-efficient alternative, boasting over 3,000 assets and no trading fees. When venturing into crypto investment, it's crucial to consider factors like fees, regulatory oversight, and asset diversity. Always make informed decisions and check in with a financial professional if you are ever unsure.

Author

Emily Shin

Web 3 Writer and Researcher

Web 3 writer with a passion for exploring the rapidly evolving world of decentralized finance (DeFi), non-fungible tokens (NFTs), GameFi, and the broader crypto culture.