Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Summary: Revolut offers a secure platform for trading over 120 cryptocurrencies, with fees starting at 0.49%. However, the total cost, including a 1.5% spread, can average around 2%, making it more expensive than many crypto platforms.
For those seeking lower fees and a wider range of assets, FCA-regulated brokers like eToro are cost-effective alternatives, offering a balance of affordability, security, and diverse trading options. The choice between Revolut and other platforms depends on prioritizing user-friendly features against lower costs and more extensive investment opportunities.
What are Revolut’s Crypto Fees?
Revolut's crypto fees are determined by the user's subscription plan. For crypto transactions, the fees are as low as 0.49%, varying according to the plan chosen. Here's a breakdown:
- Standard Plan: This is a free account. For crypto exchanges, a fee of 0.49% may apply. The plan includes a £1,000 monthly exchange limit for all types of exchanges (money currencies, cryptocurrencies, and precious metals). Exceeding this limit incurs a 1% fair usage fee.
- Plus Plan: Priced at £3.99/month, this plan offers a higher exchange limit of £3,000 per month. If this limit is exceeded, a lower fair usage fee of 0.5% is charged for additional exchanges.
- Premium, Metal, and Ultra Plans: These higher-tier plans, priced at £7.99, £14.99, and £45 per month respectively, come with no exchange limits and no fair usage fees for exceeding any limits, offering more flexibility and value for frequent traders and larger transactions.
The spread of 1.5% applies to all plans and is an important factor to consider for anyone trading cryptocurrencies on Revolut. This spread is in addition to any other specified fees. As always, Revolut aims to be transparent with its fee structure, typically providing details of the total cost, including spreads and any other fees, in the app before a transaction is completed.
Is Revolut Expensive for Crypto?
Revolut stands out as a pricier option for buying crypto assets, especially when compared to regulated and specialist crypto platforms. Their approach includes a base fee of around 1.5% for crypto transactions, significantly higher than the usual fees of under 1% charged by dedicated crypto platforms. This higher base fee can notably increase the cost of trading, particularly for active traders or those dealing in larger volumes.
Adding to the cost, Revolut offers various subscription plans, ranging from a free standard plan to more advanced options, culminating in the Ultra plan at £45 per month. While these plans bring certain benefits, they also introduce additional costs for those opting for paid subscriptions, unlike many crypto platforms that operate without monthly fees.
The inclusion of a 1.5% spread on all crypto transactions further adds to the expense, making Revolut a more expensive choice for digital asset investing.
Best Revolut Alternative
After a comprehensive review of over 10 regulated brokers to compare their fee schedules with Revolut, it becomes clear that eToro stands out for its cost-effectiveness and extensive investment options. This platform, regulated by the FCA, offers a secure trading environment with a diverse range of over 3,000 cryptocurrencies, stocks, ETFs and more.
Trusted by over 10 million investors, it distinguishes itself with a competitive fee structure, featuring zero up-front fees and tight spreads as low as 1%. This blend of regulatory security, a broad array of assets, and an investor-friendly fee approach makes it a highly attractive choice for investors.
About Revolut Crypto
Revolut Crypto offers a convenient and versatile platform for cryptocurrency enthusiasts, featuring fast trades, easy transfers, and secure storage. With over 120 tokens available, including major ones like BTC, ETH, and USDC, users can trade with fees varying by plan. Revolut ensures the safety of digital assets by storing most of the crypto in cold storage, enhancing security. The platform offers a range of plans, from a free Standard account to the Ultra plan at £45/month, each providing different benefits and features to cater to various user needs.
In summary, Revolut Crypto offers a secure and intuitive platform for trading a diverse range of over 120 cryptocurrencies. However, its overall fee structure, averaging around 2% when considering up-front fees and platform spreads, renders it a more expensive option than specialized crypto platforms, particularly for active traders.
For those searching for more budget-friendly alternatives, FCA-regulated platforms, such as eToro, present a compelling choice with lower fees, extensive asset selection, and strong investor trust. Deciding on the right platform involves balancing Revolut's convenience and security against the cost savings and broader investment choices other brokers offer.