Revolut: Bitcoin & Other Cryptocurrencies [Complete Guide]

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Revolut is a mobile banking alternative that features real exchange rates, no commission fees for trades, and spending abroad. It also offers RevolutCard which allows you to pay anywhere in the world with any currency right from your phone.

Revolut has recently added cryptocurrency support. Revolut is working with Bitstamp to allow Revolut users to buy, hold, and sell cryptocurrencies like Bitcoin (BTC), Ether (ETH), or Litecoin (LTC). Revolut allows you to trade directly from your Revolut app.

What Are Cryptocurrencies?

Cryptocurrency is a digital currency that uses encryption techniques to regulate the generation of currency units and to verify the transfer of funds. Cryptocurrencies are a type of alternative currency and digital currency (of which virtual currency is a subset) that take the form of media that is digital – i.e., “electronic money.”

Cryptocurrencies are a form of electronic cash. They are different from digital money you might have in your account because they can be used without going through a bank or other central authority and exist solely as records on a decentralized ledger called a blockchain.

Revolut For Cryptocurrencies

Revolut has recently added cryptocurrency support. Revolut is working with Bitstamp to allow Revolut users to buy, hold, and sell cryptocurrencies like Bitcoin (BTC), Ether (ETH), or Litecoin (LTC). Revolut allows you to trade directly from your Revolut app.

The Revolut card offers free interbank currency exchanges with the real exchange rate. Revolut has no fees for domestic ATM withdrawals or currency exchanges and is currently available in over 130 countries worldwide. Revolut supports Bitcoin, Ethereum, Litecoin, Ripple, GBP, EUR, and USD, etc.

Revolut allows you to buy, hold and sell cryptocurrencies with real exchange rates. Revolut now shows cryptocurrency balances as part of your balance in the Revolut app making it easier than ever to manage your digital currencies alongside fiat currencies.

Revolut charges no fees for exchanging between currencies or sending money abroad using the RevolutCard (while other banks may be charging as much as 7%). Revolut is now using Bitstamp to access the price feed for cryptocurrencies. Revolut now has a wide range of cryptocurrency partners including Bittrex, Coinbase, GDAX, and Gemini.

How To Use Revolut For Cryptocurrencies?

Log in to Revolut and go to the contactless card payment section. Simply add your details and you will receive a RevolutCard. When you get your RevolutCard, you can order it to be provided with either a virtual or physical RevolutCard. You will need to top up with at least €14 of Revolut Credit to enable RevolutCard functionality.

Once your Revolut account is active, click ‘Cryptocurrencies’ on the side menu and select the currency you wish to purchase. Revolut currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. For crypto-to-crypto trading, Revolut uses the market price on either GDAX or Kraken.

Using Revolut to buy cryptocurrency: Revolut charges a 1.5% commission fee when you purchase cryptocurrencies using Revolut. Revolut will not charge you this fee if you withdraw your cryptocurrencies to your external wallet.

Using Revolut to sell cryptocurrency: Revolut charges a 1.5% commission fee when you sell cryptocurrencies using Revolut. Revolu t does not charge any fees for exchanging your cryptocurrencies back into fiat currency (e.g. you can pay bills).

Benefits Of Using Revolut For Cryptocurrencies

Free Interbank Currency Exchanges

Revolut offers free interbank currency exchanges with the real exchange rate. Revolut has no fees for domestic ATM withdrawals or currency exchanges and is currently available in over 130 countries worldwide.

Supports 10 Cryptos

Revolut supports Bitcoin, Ethereum, Litecoin, Ripple, GBP, EUR, and USD, etc.

Revolut Card

You can use RevolutCard for free domestic and international RevolutCard payments. Revolut offers the issuance of virtual RevolutCards for free and physical RevolutCards (for a 1 EUR fee, which is refundable if you choose to keep the card).

Flexibility in Top-Up

Revolut users can top up with Bitcoin or any other cryptocurrency that Revolut supports.

No Hidden Fees

Revolut also offers free interbank currency exchanges with no hidden fees which is a relatively good deal. Revolut offers free RevolutCard payments and free top-ups with cryptocurrencies (but Revolut users cannot spend their cryptocurrency directly).

Disadvantages Of Using Revolut For Cryptocurrencies

Limited Access

Revolut is available in over 130 countries but not all countries support RevolutCard and its many functionalities, such as crypto purchase and ATM withdrawals. Revolut users cannot open a Revolut account if their country is not supported.

No Wallet Function

Revolut only covers the fiat currency and cryptocurrency exchange. Revolut does not support custody of cryptocurrencies and has no wallet function (for example, to store your Bitcoins).

High Fees

Revolut’s 1.5% fee on cryptocurrency purchases is relatively high. Revolut charges the same commission fee when you buy and sell cryptocurrencies. However, Revolut does not charge any fees for exchanging your cryptocurrencies back into fiat currency (e.g. you can pay bills with Revolut).

Not Suitable for Trading

Revolut is suitable for Revolut users who want to use their Revolut account as a cryptocurrency wallet and buy/sell cryptocurrencies, but not suitable for Revolut users who wish to trade cryptocurrencies.

Is Revolut Safe For Cryptocurrencies?

Revolut users can feel safe knowing that Revolut uses a 3rd party company called Tramonex to store cryptocurrencies on their behalf. Revolut is covered by insurance.

So Revolut lacks the custody and wallet function of a true cryptocurrency exchange, but Revolut has free interbank currency exchanges and supports many fiat currencies. Revolut also offers RevolutCard payments for free and Revolut users can top up with cryptocurrencies.

Can I Set Target Prices For Trading?

Revolut does not have a Target Price for Trading. Revolut only has the ‘Limit’ order type which is useful if you want to set a price that Revolut will buy at or Revolut will sell at, but Revolut does not use dynamic Target Prices as some other exchanges do.

Revolut users can use Revolut to set Limit sell/buy orders. Revolut also has ‘Sell All’ and ‘Buy All’ order types, which are useful if you want Revolut to sell/buy all your cryptocurrencies at once.

Revolut users can only use the ‘Limit’ order type for buying or selling cryptocurrencies one by one. Revolut users can also use Revolut to set Limit orders for all their cryptocurrencies at once (for example, set a ‘Limit’ order to sell all your cryptocurrencies if the total price reaches a certain amount). Revolut does not support Stop Loss and Take Profit features of trading cryptocurrency.

How Is Revolut Different From Coinbase For Cryptocurrencies?

Coinbase lacks the custody and wallet function of a true cryptocurrency exchange, but Revolut has free interbank currency exchanges and supports many fiat currencies.

Revolut also offers RevolutCard payments for free and Revolut users can top up with cryptocurrencies. Coinbase lacks the Revolut features of Interbank currency exchanges and RevolutCard payments for free. Revolut also has RevolutCard payments for free and Revolut users can top up with cryptocurrencies.

Revolut supports many fiat currencies while Coinbase only allows trading in US dollars. Revolut lacks the Coinbase features of a true cryptocurrency exchange and support for US dollars, but Revolut has free interbank currency exchanges

How Is Revolut Different From Wirex For Cryptocurrencies?

Revolut is a true cryptocurrency exchange that supports RevolutCard payments for free and Revolut users can top up with cryptocurrencies, but Wirex lacks these features of interbank currency exchanges.

Revolut does not support RevolutCard payments for free or Revolut users can top up with cryptocurrencies. Revolut charges a 1.5% fee on RevolutCard payments while Wirex charges 3.5%. Revolut does not support RevolutWallet (i.e. Revolut users cannot use cryptocurrencies in regular Revolut apps to pay bills or send money).

Revolut has free interbank currency exchanges while Wirex only supports Euro, US, UK, Canada, and Poland. Revolut supports many fiat currencies while Wirex only supports Euro, US, UK, Canada, and Poland.

How Is Revolut Different From Coinmama For Cryptocurrencies?

Revolut is a true cryptocurrency exchange that allows Revolut users to sell cryptocurrencies back to fiat, Revolut users can also use RevolutCard payments for free and Revolut users can top up with cryptocurrencies.

Revolut supports RevolutCard payments for free and Revolut users can top up with cryptocurrencies while Coinmama only accepts credit/debit card payments (i.e. Revolut users cannot use cryptocurrencies in regular Revolut apps to pay bills or send money).

Revolut lacks the Coinmama features of selling cryptocurrencies back into fiat, but Revolut allows Revolut users to withdraw cryptocurrencies into fiat through bank transfer.

How Is Revolut Different From Kraken for Cryptocurrencies?

Revolut is a true cryptocurrency exchange that allows Revolut users to withdraw cryptocurrencies into fiat through bank transfer. Revolut lacks the Kraken features of selling cryptocurrencies back into fiat and only supports Euro, US, UK, and Canada.

Revolut does support RevolutCard payments for free or Revolut users can top up with cryptocurrencies. Revolut allows Revolut users to withdraw cryptocurrencies into fiat through bank transfer and Revolut users can not sell cryptocurrencies back to fiat within the Revolut app (i.e. Revolut users cannot use cryptocurrencies in regular Revolut apps to pay bills or send money).

Revolut supports many fiat currencies while Kraken only supports Euro, US, UK, and Canada. Revolut does not support RevolutCard payments for free Revolut lacks the Kraken features of selling cryptocurrencies back into fiat Rev

How Is Revolut Different From Gemini For Cryptocurrencies?

Revolut is a true cryptocurrency exchange that allows Revolut users to withdraw cryptocurrencies into fiat through bank transfer while Gemini only allows users to trade in US dollars.

Revolut supports RevolutCard payments for free and Revolut users can top up with cryptocurrencies while Gemini charges a 3.5% fee on all purchases made via credit/debit card (i.e. Revolut users cannot use cryptocurrencies in regular Revolut apps to pay bills or send money).

Revolut lacks the Gemini features of selling cryptocurrencies back into fiat. Revolut allows Revolut users to withdraw cryptocurrencies into fiat through bank transfer and Revolut users cannot sell cryptocurrencies back to fiat within Revolut app.

Conclusion

Revolut is a good option for Revolut users who want a Revolut account as a cryptocurrency wallet and buy/sell cryptocurrencies. Revolut does not have the full functionalities of a true cryptocurrency exchange, but Revolut has free interbank currency exchanges and supports many fiat currencies.

Revolut also offers RevolutCard payments and Revolut users can top up with cryptocurrencies. Revolut lacks the custody, wallet, Stop Loss, and Take Profit features of a true cryptocurrency exchange. Revolut is not suitable for Revolut users who wish to trade cryptocurrencies.

I lead product content strategy for SaltMoney. Additionally, I’m helping our broader team of 4 evolve into a mature content strategy practice with the right documentation and processes to deliver quality work. Prior to Instacart, I was a content strategy lead at Uber Eats and Facebook. Before that, I was a content strategist at SapientNitro, helping major Fortune 500 brands create better, more useful digital content.

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