In the past years, Revolut has become a force among digital banking services providers. But what makes Revolut safe, secure, and reliable within the crypto industry?
Indeed, finding an all-in-one crypto application is challenging, as many shady crypto apps are on the market. Luckily, we are here to discuss anything you must know about through this Revolut crypto review.
We will discuss anything from their crypto services, security measures, crypto fees, features, etc. By the end of this article, you’ll be equipped with all the knowledge to get started with Revolut crypto banking.
Let’s get started!
Table of contents
Revolut Crypto Key Takeaways
Convenience and User-Friendliness: Revolut’s mobile app offers a seamless user experience for managing crypto assets.
Multiple Supported Cryptocurrencies: The platform supports diverse cryptocurrencies, allowing you to diversify your portfolio.
Security and Regulation: Revolut employs robust security measures and is regulated by various financial authorities, ensuring the safety of your funds.
Limited Availability: Revolut’s services may not be available in all regions, so checking its availability in your location is crucial.
What is Revolut?
Revolut is one of the most well-known digital banks, and its popularity has risen in recent years (along with numerous other innovations) also due to its crypto features, easy accessibility, and security measures.
Launched in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut offers various services, from traditional banking to cryptocurrency trading.
One of Revolut’s main features is its ability to help you manage your money more effectively. You can easily track your spending, set budgets, and even automate savings.
The app also offers a variety of investment options, including stocks, ETFs, and cryptocurrencies.
Overall, Revolut is a convenient and affordable way to manage your finances. Whether you’re looking to save money, invest, or travel, the app offers something.
Revolut: A Comprehensive Overview
Revolut Details:
- Name: Revolut Ltd.;
- Founded: 2015;
- Headquarters: London, England.
Launch Date of Crypto Platform:
- Revolut launched its cryptocurrency trading platform in 2017.
Additional Features and Benefits:
- Instant Transfers: Revolut allows for fast and efficient transfers between your crypto and fiat wallets;
- Crypto Vaults: You can create separate vaults for different cryptocurrencies to organize your holdings better;
- Metal Cards: Revolut premium metal cards offer additional benefits, such as cashback on cryptocurrency purchases and exclusive perks;
- Crypto Rewards: Some Revolut plans offer cashback or other rewards on cryptocurrency purchases;
- Market Analysis: The app provides real-time market data, charts, and analysis to help you make informed trading decisions.
Important Considerations:
- Regulations Compliance: Revolut is regulated by various financial authorities, including the Financial Conduct Authority (FCA) in the UK, under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations, and is licensed by the European Central Bank and is regulated by the Bank of Lithuania;
- Security: The platform employs advanced security measures to protect user funds, such as two-factor authentication and cold storage;
- Customer Support: Revolut offers 24/7 customer support to assist users with any questions or issues.
The Revolut Crypto Services
Revolut is mainly known for its banking services, so it extended its offerings to all crypto investors and traders. Thus, Revolut offers crypto services.
So, to offer robust crypto transactions and services, Revolut designed a mobile app. The Revolut app easily supports crypto trading with a user-friendly interface and a secure user experience.
Acquiring over 40 million users globally and holding over $15.5 billion in customer deposits, Revolut Bank has positioned itself as a solid crypto-friendly bank. It integrates traditional banking and investment services and caters to a broader range of customers’ financial needs.
But let’s get into the details!
Revolut Crypto Features At-a-Glance
- Wide range of supported crypto assets;
- Buy, sell, deposit, and withdraw digital assets;
- Hold crypto assets;
- Easy transfer of crypto assets to other Revolut users;
- Pay for goods with crypto assets from your Revolut Card;
- Crypto staking;
- Revolut X – crypto exchange.
Please note that some of their crypto services may only be available to Plus, Premium, Metal, or Ultra plan Revolut customers.
Revolut Crypto: In-Depth Features
As mentioned, Revolut goes above and beyond to support the crypto community. It offers everything from basic crypto services such as buying, selling, and withdrawing crypto to paying in crypto with its Revolut Card, staking crypto, and more.
1. Wide Range of Supported Crypto Assets
When discussing the Revolut Business account, you can sell or buy crypto in BTC, ETH, SOL, and other ERC-20 popular assets:
- Bitcoin (BTC);
- Ethereum (ETH);
- Solana (SOL);
- Polygon (MATIC);
- Polkadot (DOT);
- Cardano (ADA);
- Ripple (XRP) and *others.
*The entire list of supported cryptocurrencies is available on the Revolut official website.
2. Buy, Sell, Deposit, and Withdraw Digital Assets
The Buying Crypto Assets Process
For Revolut users who want to buy crypto within their Revolut desktop or Revolut app, you can use money or e-money through your Revolut account or the available crypto assets.
Also, there are several ways to purchase cryptocurrencies:
- Buy Now option from your Revolut account;
- Set up an Auto Exchange, meaning you’ll buy crypto assets in the future;
- The Recurring Buy option to buy cryptos at regular intervals in the future;
- Buy multiple cryptos through a Collection of Crypto Assets;
- The Spare Change Round-up feature auto rounds up your Revolut Card purchase;
Selling Cryptos
Selling crypto assets through Revolut is easy, mainly when you can sell them at the exchange rate at the time, sell crypto assets for money, e-money, or your crypto asset pocket.
Depositing and Withdrawing Crypto Assets
Depending on your eligible location and country and if you have an eligible plan, you can deposit cryptos in your Revolut account from an external wallet.
No fees will be applied for crypto deposits, but depending on your crypto wallet or third-party service provider, you may be charged a fee for the transaction as it is a withdrawal from that location.
You can look up the Receive section to check the supported cryptocurrencies available for receiving. It is essential to understand that if you receive unsupported currencies, they will be permanently lost.
Your Revolut crypto deposits might be initially placed in a unique wallet. Revolut then moves these funds to our main account to provide better security and accessibility.
You can deposit either in cryptocurrency or fiat to Revolut. To complete the deposit, go to your Revolut app, click the Add Money button, select your preferred fiat currency, choose the payment method, and enter the top-up amount.
Network fees fluctuate occasionally, but to ensure that Revolut can process your crypto deposits efficiently and minimize fees, they may require a minimum deposit amount for certain coins. Revolut also sets minimum deposit amounts for specific cryptocurrencies to ensure efficient processing and minimize network fees.
Please note that purchasing crypto assets directly in the app doesn’t count towards this minimum.
There’s no limit to the amount of cryptocurrency you can deposit. However, Revolut may restrict the amount you can withdraw, which we’ll specify before confirming your request.
Also, regarding the Revolut withdrawal, there are many ways to withdraw crypto or fiat from your Revolut account.
ATM Fees Withdrawal: While you can withdraw from ATMs, the company sets monthly limits based on your plan, usually between £200 and £2,000. Any withdrawal outside of this limit will be allocated a 2% fee of the transaction value.
However, consider that there are restrictions based on location when withdrawing crypto to an external wallet.
3. Holding Cryptocurrency
When you use Revolut crypto services, you give them the legal title to your crypto assets, but you remain the beneficial owner of the digital assets.
As the owner, you have complete control over your crypto assets, and Revolut will only act based on your instructions for selling, transferring, or withdrawing them, but you cannot directly transact or move the assets yourself.
4. Transferring Cryptocurrencies
You can transfer cryptocurrencies and make customer deposits to other Revolut users who have already been onboarded. Thus, you can use the Revolut app, as sometimes this procedure is called off-chain transfer.
5. Spending Throughout the Revolut Card
Did you know that you can use the Revolut Card for everyday spending?
For many users, this is an excellent feature that offers peace of mind, primarily when Revolut instantly converts your crypto balance into the equivalent fiat amount to pay for cryptocurrency transactions.
Regarding the crypto fees, an exchange rate will be applied at the time of the transaction, as will any crypto fees applicable to your subscription plan.
Once the conversion rate is done, your payments will be processed by the Revolut account.
However, if you request a refund from the merchant, you’ll receive the refund in fiat currency in your Revolut account. The credit will be applied to the original crypto asset balance if the transaction is pending and later reversed. Keep in mind that crypto asset values can fluctuate.
6. Crypto Staking
All crypto enthusiasts who are in an eligible location may benefit from the Revolut staking option.
As you already know, crypto staking is a process by which you can support the operation of a blockchain network by participating in the crypto transactions validation process of a Proof-of-Stake network. In return, you’ll be rewarded for your hard work.
Tokens Supported for Revolut Crypto Staking
- Ethereum (ETH);
- Cardano (ADA);
- Polkadot (DOT);
- Solana (SOL);
- Polygon (MATIC);
- Tezos (XTZ).
7. The Revolut X – Cryptocurrency Dedicated Exchange
The digital bank account Revolut introduced us to its cryptocurrency exchange, Revolut X, in May 2024. Revolut X targets advanced traders and is a separate desktop product with advanced crypto features.
It offers analytical tools and lower fees, such as the 0% and 0.09% maker trader service fees. Users can trade using limits, market orders, and lower spreads.
Revolut X is accessible to Revolut retail account holders and offers real-time trading, advanced analytics, and integration with TradingView charts.
These tools give crypto enthusiasts insights into market trends, top-traded tokens, and gainers. To use Revolut X, you must first have a main Revolut account and then download the app.
The launch of Revolut X underscores Revolut’s dedication to the crypto industry. It follows the recent introduction of Revolut Ramp and the partnership with MetaMask, which allows users to purchase crypto directly within their wallets.
Moreover, given Revolut’s Trust Pilot review and positive note, most users seem to like Revolut’s crypto services, easy-to-follow interface, and overall customer support.
Revolut Cryptocurrency Exchange Features
1. Swapping Crypto
If you want to swap cryptos so quickly, then the Revolut cryptocurrency exchange is the place to do it. You can exchange your cryptos for your favorite tokens in just a few moments.
2. Selling Digital Assets for Fiat Currency
We could safely say that this is the main feature of this cryptocurrency exchange as it allows you to sell your cryptos for fiat quickly. Moreover, you can sell them for any available fiat option, thus becoming a good cash-out option.
3. Multiple Order Types
This surprised many traders and investors, but the Revolut exchange supports multiple order types, such as market orders, stop orders, and limit orders.
Revolut Cryptocurrency Exchange Fees
- Crypto Purchase Fee: Standard accounts have a 1.49% crypto purchase fee.
- Spread: Revolut imposes a variable spread of 1%.
- Fair Usage Limit: While there is a fair usage limit, the additional fee for exceeding it is 0.5%.
Revolut Crypto Wallet: Features
Revolut’s crypto wallet allows users to store, transfer, and swap cryptos, monitor their assets, and even set up price alerts. Now, let’s discuss security, supported cryptocurrencies, and service fees.
Revolut Wallet: Security
When discussing the security of your cryptos, the Revolut wallet integrates various security measures to store your funds in cold storage and keep your crypto assets away from potential online threats.
Revolut Wallet: Supported Cryptocurrencies
This cold storage wallet can hold over 170 digital assets, from small caps to some of the most popular ones, ensuring you can easily diversify your portfolio.
Revolut Wallet: Fees
It is essential to understand that you must cover the network fee whenever you want to send or receive money on Revolut. Also, you will be charged for withdrawals to an external wallet.
Revolut Crypto: User Experience
These days, user experience is mandatory for any digital product, regardless of its type. Thus, Revolut considers this and creates a well-thought-out user experience.
The Revolut Website
The Revolut website is thoroughly designed with a user-centric approach, yet its features cannot be used within the website. As such, you will be redirected to the Revolut app.
The Revolut Mobile App
The website redirects you to the Revolut app, where you can experience the full in-app features for crypto, fiat, card management, and more.
With an intuitive interface and easy access to multiple in-app features for both personal and business accounts, Revolut offers a seamless crypto experience.
The Revolut Customer Support
Regarding customers, their support team offers help center articles, chatbot assistance, and in-app live chat support.
Revolut Crypto: Pros and Cons
Revolut Pros
- Easy to use with a simple user interface;
- Supports the most popular assets;
- Multiple payment methods;
- Multiple features, both crypto and non-crypto;
- High security and fully regulated;
- Store multiple cryptocurrencies.
Revolut Cons
- You aren’t the crypto holder;
- High fees;
- Mobile-only;
- Many restricted locations and countries.
Revolut Crypto FAQ
Is Revolut Good for Crypto?
The answer is… it depends. We wouldn’t recommend it due to its high trading fees. But if you’re looking for ease of use and convenience, Revolut is the way to go. Overall, avid crypto traders should look for other dedicated exchanges.
Can I Buy USDT on Revolut?
You can buy, hold, or sell Tether directly in-app Revolut.
Can I Sell Crypto from Revolut?
For all new or existing users, Revolut allows you to buy and sell over 170 tokens, including Bitcoin, Ethereum, Polygon, Solana, Dogecoin, and many others.
Can I Transfer Crypto from Binance to Revolut?
Yes! You can transfer crypto from Binance to Revolut, as well as fiat. Before, please check to see if your chosen assets are Revolut-supported. Then, copy your Revolut deposit address, log into your Binance account, and complete the digital assets transfer.
How to Send Crypto from Coinbase to Revolut?
From your Coinbase account, select the cryptocurrency you wish to send to Revolut. Copy your Revolut address and log into your Coinbase account to complete the transfer. Revolut is well known for supporting deposits from trusted major crypto services like Coinbase, Binance, Kraken, Bitstamp, Etoro, etc.
Final Thoughts
Revolut has emerged as a key player in digital banking and cryptocurrency, offering its users a comprehensive suite of financial services.
While the platform provides a convenient and user-friendly interface for buying, selling, and holding cryptocurrencies, it’s essential to consider the associated fees and limitations.
Whether Revolut is the right choice for your crypto needs depends on your preferences and priorities. However, you may want to explore other options if you prioritize the lowest possible fees or require advanced trading features.
