What is Revolut?
Revolut is a UK-based fintech startup founded in 2015 that provides digital banking services. Among its features, Revolut cryptocurrency services allow users to buy, sell, and exchange digital assets alongside traditional banking options. Users can conveniently make payments, transfers, currency exchanges, and invest in stocks, cryptocurrencies, and precious metals.
Revolut has gained popularity for its low international transfer fees, quick account setup, and user-friendly mobile app that replaces traditional banking.
What Features Does Revolut Offer?
Revolut positions itself as a “super app” for finance, combining multiple services in one place:
1. Banking Services
- Open an account within minutes
- Multi-currency accounts (30+ currencies)
- Virtual and physical Visa/MasterCard cards
- Free international transfers
2. Currency Exchange
- Instant exchange of 30+ currencies at interbank rates
- Low or no fees within certain limits
- Automated conversions at preset rates
3. Investing
- Commission-free stock trading
- Access to ETFs
- Gold and silver investments
4. Cryptocurrency
- Buy, sell, and exchange Bitcoin, Ethereum, Litecoin, and other cryptos
- Automatically round up purchases and convert spare change into crypto
- Scheduled purchases at set intervals
5. Additional Features
- Expense tracking and budgeting
- Revolut Junior – accounts for kids
- Fraud protection and subscription management
How Does Revolut Work with Cryptocurrency?
Revolut offers a simple way to buy cryptocurrencies, but with some limitations.
How to Buy Crypto on Revolut?
- Open the app and navigate to the “Crypto” section.
- Choose the asset you want to buy (BTC, ETH, etc.).
- Enter the purchase amount and confirm the transaction.
- The cryptocurrency will appear in your balance instantly.
What Cryptocurrencies Does Revolut Support?
Revolut supports over 30 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA), and Polkadot (DOT).
Can You Withdraw Crypto to External Wallets?
Previously, Revolut did not allow crypto withdrawals, but now this feature is available for Premium and Metal users. However, crypto exchanges still offer more flexibility.
Pros and Cons of Using Revolut for Crypto
| Pros | Cons |
|---|---|
| Easy and quick access to crypto | High fees for buying/selling |
| User-friendly for beginners | No private key control |
| Automated purchases | Limited crypto withdrawal options |
| Secure storage | No staking or DeFi support |
Investing Through Revolut: Is It Worth It?
Revolut is convenient for beginners who want to invest in crypto without complicated settings. However, if you plan long-term investments or active trading, exchanges like Binance or Kraken offer better fees and features.
Revolut vs. Crypto Exchanges: Which is Better?
| Feature | Revolut | Binance | Coinbase |
|---|---|---|---|
| Buying Crypto | ✅ Easy | ✅ Advanced | ✅ Simple |
| Fees | ❌ High | ✅ Low | ❌ Medium |
| External Wallet Withdrawals | ❌ Limited | ✅ Full | ✅ Limited |
| Trading | ❌ None | ✅ Advanced | ✅ Basic |
| Staking | ❌ Not Available | ✅ Yes | ✅ Yes |
If you just want to buy and hold crypto, Revolut is a good option. But for trading, staking, or active investments, exchanges are better.
Risks and Limitations
Using Revolut for crypto comes with certain risks:
- No private key control: You don’t fully own your assets.
- Withdrawal limitations: Not all users can withdraw crypto to external wallets.
- High fees: Exchange rates may be more expensive compared to crypto exchanges.
- Regulatory risks: Crypto holdings in Revolut may be subject to restrictions in certain countries.
Conclusion
Revolut is a convenient financial tool for those who want quick and easy crypto purchases. However, it is not a full-fledged crypto exchange, and its fees can be high.
If you need a simple start in crypto, Revolut is a great choice. But if you plan to trade actively or stake, crypto exchanges are a better alternative.
📌Also Read: When to Buy and Sell Cryptocurrency 📈