How to Buy Crypto with Revolut in 2023: A Step-by-Step Guide

How to Buy Crypto with Revolut in 2023: As cryptocurrency keeps making its way into the public, it’s becoming easier to use across a wider range of fintech services.

During previous crypto bull runs, buyers had to use a cryptocurrency exchange to buy Bitcoin, Ethereum, or Dogecoin. Today, rival banks from the fintech world are making it easier for people to use cryptocurrencies.

This includes Revolut, a “challenger bank” that focuses on new ways to handle money and “open banking.” But how easy is it to use Revolut to buy Bitcoin?

What’s Revolut?

Revolut has become one of the best examples of a challenger bank that gives customers more banking and investment choices than traditional banks. Sifted estimates that Revolut’s market worth is $33 billion. Its all-in-one, easy-to-use mobile app gives users access to cryptocurrency markets and many other services.

Revolut started out focusing on the UK market, but now it can be used in most of Europe and the US. Importantly, Revolut has been adding services that work with cryptocurrencies since 2017, and it even has choices for “staking” cryptocurrencies.

What’s Needed to Get a Revolut Crypto Account?

When you use Revolut’s crypto services, you don’t have to go through any extra steps that you don’t have to do when you open a regular Revolut bank account.

How to Buy Cryptocurrency Using Revolut

Also, signing up for a Revolut account is usually much faster than signing up for an account at a regular bank, and the whole process can be done in the Revolut app.

Because you’ll be sending and getting cryptocurrency using the same information as your main Revolut account, adding cryptocurrency to your account only takes a few clicks.

Once you’ve logged into your account, go to the “Wealth” area of your Revolut Hub. There, you’ll find crypto services. This part of the Hub is for investment choices like stocks, commodities, and, of course, crypto.

When you click on the “Crypto” button, you’ll be taken to a different part of the Revolut app where you can find out more about cryptocurrency services and news and buy and sell cryptocurrency.

When you first use Revolut’s crypto services, you’ll see a short video about what they are, and before you can start dealing, you’ll have to read and agree to the service’s terms and conditions. These are a warning about how volatile and uncontrolled the cryptocurrency space is.

Once you’ve read and agreed to Revolut’s terms and conditions, you’ll be taken to the front page of your crypto hub, which shows your portfolio’s value, staking rewards, analytics, and a helpful learning site that gives users crypto for finishing lessons.

Before you start buying and selling crypto assets, it’s a good idea to look at the available lessons to learn the basics. When you earn small amounts of cryptocurrency, you can also take small steps toward trading in cryptocurrency.

Buying and Selling Cryptocurrency with Revolut

Revolut lets you use more than 90 cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and even assets like Shiba Inu that have become more famous recently. Because of this, its built-in exchange is a pretty good place to buy and sell things.

Let’s look at how to buy Bitcoin on Revolut in more depth. Click on the object on your home screen to get started. If you don’t see it on your wishlist, you can use the search bar at the top of your home page to look for it.

When you click on the Bitcoin asset page, you’ll see a rate of trade in your local currency and information about how the cryptocurrency has been doing recently. You’ll also see “+ Buy” and “- Sell” at the top of your screen, which are both very important.

Revolut makes it easy to buy cryptocurrency because it works seamlessly with your fiat current account (fiat current is regular money). You can turn your dollars or pounds into BTC or any other supported asset right away.

When you click “Buy,” you’ll go straight to the payments screen, where you can pay for your purchase with the money in your Revolut card.

How to Buy Cryptocurrency Using Revolut

If you don’t have any money in your Revolut account, you can add money by sending money from your preferred bank account to your Revolut account.

When you’re ready to finish your buy, click “Buy BTC with [your local currency]” to see one more confirmation screen. Due to how changeable crypto markets are, it’s important to look at the rates you’re getting to make sure they’re what you expected.

It’s also important to know about the fees that come with the deal you’ll set up, since they can make up a big part of smaller purchases. When the order is done, you’ll see a popup with a number and the final exchange rate.

Now, if you go back to the Bitcoin page, you’ll see a list of all the times you bought BTC. Also, if you go back to your site, it will show you how much cryptocurrency you now have. This brings together all of your crypto investments. Don’t worry if the value of your stock is less than the cost of your transaction. This just means that the value of your assets is less than the cost of your transaction.

Revolut Trading Fees for Crypto

Customers of Revolut can buy and sell major assets like Bitcoin and Ethereum with just a few clicks thanks to the platform’s cryptocurrency integration. But users should also know how much it costs to use Revolut’s crypto trade services, especially if they are in Europe.

Some Revolut users think that the ease of the integrated cryptocurrency exchange is not worth the 1.5% trading fees. In the same way, a lack of control by the Financial Conduct Authority (FCA) can be a worry for custodial risk.

3 Alternatives to Buying Cryptocurrency on Revolut

Because of some of the perceived risks and costs of buying cryptocurrency on Revolut, it’s a good idea to look at your other choices before deciding where to buy and sell crypto.

1. Robinhood

Robinhood is a popular and safe way to invest, and it gives you access to 18 of the most famous cryptocurrencies. This makes it a great choice for traders who want to start out in crypto. Robinhood gives you access to its own built-in cryptocurrency wallet and a number of other ways to trade.

2. N26

N26 is a European challenger bank that has grown to give crypto services. It is similar to Robinhood in this way.

With more than 200 different cryptocurrencies to choose from, N26 is one of the best ways to get into the world of cryptocurrencies.

N26 is another example of a challenger bank that has made a financial app with a lot of services. However, the fees of 1.5% for buying Bitcoin and 2.5% for buying other cryptocurrencies can be a turnoff for buyers.

3. Binance

Last but not least, it’s important to mention Binance, which is the most famous cryptocurrency exchange in the world. Binance is the best choice for ambitious cryptocurrency investors because it has over 128 million registered users, more than 500 cryptocurrencies, and entries from over 180 countries around the world.

Binance is built right into the cryptocurrency environment. This makes Binance’s fees more competitive and gives users better access to cryptocurrencies as well as exposure to other DeFi and NFTs.

Using Revolut to get into crypto

Even though there are many places to buy crypto, Revolut is one of the easiest and most accessible.

This also gives us a complete picture of what the future of crypto might look like. As more top challenger banks let more people into the world of Bitcoin, Ethereum, and other assets, the digital currency may find better uses. This can help make Revolut stand out in the world of banking as a truly innovative company.

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