How to buy Crypto with Revolut
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 Uphold because they are licensed, offer fast & cheap deposits from Revolut and have over 250 tradable coins on the platform.
You can get started in minutes with this guide:
- Create a free account on Uphold with your email and complete the verification requirements.
- Connect your Revolut Bank account or Credit/Debit card to Uphold by selecting the 'EUR' button on your dashboard.
- Select the 'connect bank' button to link your Revolut account to Uphold.
- Find the cryptocurrency you want to buy and execute your trade.
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 Uphold charges zero fees to trade, and have a variable spread averaging 0.5% across their 250 tokens.
Is Revolut good for buying Crypto?
Overall, Revolut is not a good option for investors in the UK & Europe due to their high fees, monthly subscription fee & limited available cryptocurrencies. Their crypto exchange platform is also not regulated by the Financial Conduct Authority (FCA) which may increase custodial risk for investors.
What is Revolut?
Revolut is a financial technology company was founded in 2015 and is based in London, England. Revolut's main goal is to provide a better and more transparent way for people to manage their money through technology. The platform currently offers a wide range of services through its mobile app, including:
- Mobile banking: Revolut offers a mobile app-based current account, which allows users to manage their money, pay bills, and make purchases from their smartphone. The account comes with a free debit card that can be used to withdraw cash and make purchases online and in-store.
- Currency exchange: Revolut allows users to exchange and hold money in multiple currencies, including fiat currencies and cryptocurrencies. The app provides real-time exchange rates and allows users to make money transfers at the interbank exchange rate.
- Investing: Revolut offers a range of investment options, including stocks, ETFs, and cryptocurrencies. Users can buy, sell, and hold investments within the app, and access market data and research tools to help inform their investment decisions.
- Insurance: Revolut also offers travel, device and purchase protection insurance as well as other benefits.
- Other features include: P2P payments, cashback rewards, cashback on bills, and more.
Revolut's main goal is to provide a better and more transparent way for people to manage their money through technology.
Overall, Revolut is a convenient and relatively easy way to buy, sell, and trade cryptocurrencies. However, its fees are high compared to other platforms such as Uphold and it does not offer staking services for assets like Uphold does. As such, investors may be better off using a regulated digital asset exchange like Uphold or an alternative like Kraken for their crypto investing needs in the UK & EU.