Revolut offers a simple and secure platform for purchasing digital currencies, allowing users to trade popular cryptocurrencies directly from their mobile app. Whether you are a beginner or an experienced investor, the process is straightforward. Below is a guide on how to buy crypto via Revolut.
Steps to Buy Crypto on Revolut:
- Open the Revolut app and navigate to the “Crypto” section.
- Select the cryptocurrency you want to purchase from the available list.
- Choose the amount of crypto you wish to buy and select your payment method (e.g., linked bank account or debit card).
- Confirm your purchase and follow the on-screen instructions to complete the transaction.
Important: Revolut supports a range of cryptocurrencies, but you cannot withdraw crypto to external wallets. Purchases and sales are limited to in-app transactions only.
Supported Cryptocurrencies on Revolut:
| Cryptocurrency | Symbol |
|---|---|
| Bitcoin | BTC |
| Ethereum | ETH |
| Ripple | XRP |
| Litecoin | LTC |
Setting Up Your Revolut Account for Crypto Purchases
To begin buying cryptocurrencies through Revolut, the first step is to properly set up your account. Revolut offers an easy-to-use interface, but you’ll need to follow a few steps to ensure everything is configured for crypto trading. This includes identity verification, enabling the necessary permissions, and linking a payment method.
Once your account is ready, you can start exploring crypto options. However, it’s important to take additional steps to secure your account and stay informed about your transactions. Here’s a detailed guide on how to set up Revolut for buying crypto.
Steps to Set Up Revolut for Crypto Purchases
- Download and install the Revolut app: If you haven’t done so already, get the Revolut app from the App Store or Google Play.
- Sign up and verify your identity: You’ll need to provide basic personal information and verify your identity with a photo ID.
- Enable crypto services: In your Revolut app, go to the “Crypto” section and enable cryptocurrency trading.
- Fund your account: Link a bank account or use a debit/credit card to add funds to your Revolut account.
- Set up two-factor authentication (2FA): For enhanced security, enable 2FA under your account settings.
Important: Ensure that your country of residence supports cryptocurrency trading on Revolut. If not, you won’t be able to access the crypto features.
Crypto Buying Process on Revolut
- Go to the “Invest” tab in the app and select “Crypto.”
- Choose the cryptocurrency you want to purchase from the list of available options.
- Select the amount you want to buy and confirm the transaction.
- Review the fees associated with the purchase before finalizing.
Once the transaction is complete, your crypto will be stored in your Revolut account. You can manage it, track prices, and even convert it back to fiat currency directly from the app.
Verifying Your Identity on Revolut: Steps to Start Trading
Before you can begin trading cryptocurrencies on Revolut, you need to complete a verification process to ensure the security and legality of your account. This step is essential to comply with financial regulations and prevent fraud. Revolut uses a standard identity verification procedure, which typically involves confirming your personal details and verifying your identity through documents and facial recognition.
Follow these steps to verify your identity and start trading crypto on Revolut:
Steps to Complete Identity Verification
- Open the Revolut app: Download and log in to your Revolut account, if you haven’t already.
- Navigate to your profile: Tap on your profile icon in the top left corner to access the “Account settings”.
- Start the verification process: Select “Verify your identity” from the options and follow the instructions provided.
- Submit required documents: Revolut will ask for a government-issued ID (e.g., passport or driver’s license) and a selfie for facial recognition. Make sure the documents are clear and readable.
- Wait for approval: Revolut will review your submitted information. This process can take up to a few hours, depending on the volume of requests.
Note: If your submission is not accepted, you may be asked to provide additional information or submit a new photo.
Document Requirements
| Document Type | Required Format |
|---|---|
| Government-issued ID | Clear photo or scanned copy |
| Selfie | Clear, well-lit image showing your face |
Once your identity is successfully verified, you’ll have full access to the crypto features in Revolut, including buying, selling, and transferring digital assets. This process ensures a smooth and secure experience as you begin your trading journey.
Linking Your Bank Account or Card to Fund Crypto Purchases
To buy cryptocurrency through Revolut, you’ll first need to connect a funding source, such as your bank account or a debit/credit card. This step is essential to ensure smooth transactions and timely processing of your crypto orders. Once linked, you can easily fund your account and use it for purchasing digital currencies.
Revolut allows you to link both a bank account and a card, giving you flexibility when it comes to funding your crypto investments. Each option has its pros and cons, and understanding them can help you decide the best method based on your preferences and needs.
Linking Your Bank Account
To link your bank account to Revolut for crypto purchases, follow these steps:
- Open the Revolut app and navigate to the “Payments” section.
- Select “Link a Bank Account” and enter your bank details.
- Follow the prompts to verify your bank account information.
- Once verified, your bank account will be linked and ready to use for crypto purchases.
With a linked bank account, transfers are often processed within 1-2 business days. However, fees may apply depending on your country or currency.
Linking Your Card
Alternatively, you can link a debit or credit card to your Revolut account for instant funding. This option is typically faster but may incur higher transaction fees compared to using a bank account.
- Open the Revolut app and go to the “Cards” section.
- Select “Link a Card” and enter the required card details.
- Confirm your card through a verification process (SMS or email).
- Once completed, your card is ready to fund your crypto purchases instantly.
Note: Cards linked to Revolut often offer the fastest way to buy crypto, with processing times usually under 1 minute. However, fees may be higher for card transactions compared to bank transfers.
Comparison of Payment Methods
| Payment Method | Processing Time | Fees |
|---|---|---|
| Bank Account | 1-2 Business Days | Varies by country |
| Debit/Credit Card | Instant | Higher Fees |
Choose the payment method that best fits your needs, keeping in mind the differences in speed and costs. Both options offer a reliable way to fund your crypto purchases on Revolut.
Choosing the Right Cryptocurrency on Revolut
When selecting a cryptocurrency to invest in via Revolut, it’s crucial to consider both the project’s fundamentals and its current market trends. Revolut offers a variety of digital assets, but not all cryptocurrencies are equal in terms of stability, growth potential, and long-term viability. Understanding what makes a cryptocurrency stand out can help you make more informed decisions when managing your portfolio.
Revolut gives users access to a range of cryptos, from major coins like Bitcoin to smaller altcoins. To avoid making impulsive decisions based solely on price movements, it’s essential to look deeper into the technical aspects, market history, and community support of each option. Here are some key factors to consider:
Key Factors for Choosing a Cryptocurrency
- Market Capitalization – This helps determine the relative size of the crypto. Larger market caps often suggest a more established coin with less volatility.
- Technology Behind the Coin – Research the underlying technology. Coins with solid and scalable blockchains tend to be more secure and efficient.
- Community and Developer Support – A strong community and active developers can contribute to the long-term success and improvement of a cryptocurrency.
- Liquidity – Liquidity ensures you can easily buy and sell assets. Choose assets with a higher trading volume on platforms like Revolut for easier transactions.
How to Evaluate Cryptos on Revolut
- Start with Major Coins: Bitcoin and Ethereum are the most established and liquid options. They are widely considered a safe entry point for most investors.
- Look for Emerging Coins: Some altcoins, like Solana or Polkadot, offer unique features and technological innovations, potentially bringing higher returns.
- Analyze Historical Trends: Check the historical performance and price volatility of the coin you are considering. This can give you insight into its potential future movements.
Note: Revolut does not provide the option to transfer cryptocurrencies out of the platform, meaning you cannot move your crypto to an external wallet. Always consider this limitation when selecting assets.
Example Comparison
| Cryptocurrency | Market Cap | Liquidity | Technology |
|---|---|---|---|
| Bitcoin | High | High | Proven and secure |
| Ethereum | High | High | Smart contract platform |
| Solana | Medium | Medium | Scalable blockchain with fast transactions |
| Polkadot | Medium | Medium | Interoperable blockchain network |
Understanding Fees and Limits for Crypto Transactions
When purchasing or selling cryptocurrency through platforms like Revolut, it is essential to understand the associated fees and limitations that might impact your transactions. Each platform sets its own rules regarding fees, exchange rates, and withdrawal limits, which can vary depending on the currency involved, account type, and transaction volume. This section breaks down what you need to consider when making crypto transactions through services like Revolut.
Revolut, like many other platforms, offers various types of crypto transactions, and each comes with specific costs. Understanding the fees for buying, selling, and transferring digital assets is crucial to ensuring your investment stays profitable. Below, we outline the key factors to keep in mind.
Fees for Crypto Transactions
- Transaction Fee: Revolut charges a small fee for buying and selling crypto assets. This fee can vary based on your subscription plan. For example, users on the free plan may face higher fees compared to premium accounts.
- Spread: There is an inherent spread between the buy and sell price of crypto. Revolut includes this spread as part of the fee, and it’s important to check the rates before completing the transaction.
- Currency Conversion: When converting between fiat and crypto, conversion fees might apply, especially if your base currency is different from the crypto asset you wish to purchase.
Transaction Limits
- Daily Limits: Revolut places a cap on the amount of cryptocurrency you can buy or sell within a 24-hour period. These limits vary depending on your account type (Standard, Premium, or Metal) and whether your account is verified.
- Withdrawal Limits: If you plan to withdraw your crypto to an external wallet, be aware that Revolut limits the amount of crypto you can withdraw. The limit is generally lower for unverified accounts.
Example of Fee Structure
| Transaction Type | Fee |
|---|---|
| Buying/Selling Crypto | 1.5% – 2.5% depending on account type |
| Currency Conversion | 0.5% – 1% depending on the currency |
| Withdrawal to External Wallet | Variable depending on the crypto asset |
Important: Always verify the latest fees on your Revolut app or website, as fees may change based on market conditions and your account type.
How to Place Your First Crypto Order Using Revolut
If you’re new to cryptocurrencies and want to purchase your first digital asset through Revolut, it’s an easy process that takes only a few minutes. Revolut offers a user-friendly platform for both beginners and experienced traders. Once you have set up your account, the next step is to execute your first crypto buy order. Here’s how you can do it with ease.
Follow the steps outlined below to get started with purchasing your first cryptocurrency on Revolut:
Steps to Complete Your First Purchase
- Open the Revolut app and go to the “Crypto” section in the main menu.
- Select the cryptocurrency you want to buy from the available list (e.g., Bitcoin, Ethereum, or Litecoin).
- Enter the amount you wish to purchase or the amount of cryptocurrency you want to acquire.
- Choose your payment method (such as a linked bank account or Revolut wallet funds).
- Review the transaction details, including any fees, and confirm the purchase.
Note: Revolut charges a small fee for crypto transactions. The fee may vary depending on your plan and the cryptocurrency you are purchasing.
Understanding the Transaction Overview
Once the purchase is confirmed, your crypto will be stored in your Revolut account under the “Crypto” section. You can track its performance, see historical trends, and even convert it back to traditional currency at any time.
| Crypto Type | Fee | Payment Methods |
|---|---|---|
| Bitcoin | Varies by plan | Bank transfer, Revolut balance |
| Ethereum | Varies by plan | Bank transfer, Revolut balance |
| Litecoin | Varies by plan | Bank transfer, Revolut balance |
Remember that you can easily sell or exchange your cryptocurrency back into fiat money or another digital currency through Revolut’s platform. Now that you’ve made your first purchase, enjoy exploring the world of crypto trading!
Managing Your Crypto Portfolio Within Revolut
Revolut provides an easy and convenient way to manage your cryptocurrency holdings directly from its app. Once you’ve purchased crypto, the app allows you to track your investments, view detailed price charts, and monitor the overall performance of your portfolio. Whether you’re a beginner or an experienced trader, Revolut simplifies portfolio management with user-friendly features and real-time updates.
Within the app, users can access various tools to make informed decisions about their investments. From setting up alerts to viewing the historical performance of your assets, Revolut aims to offer a comprehensive and straightforward platform to track and manage your crypto portfolio effectively.
Key Features for Portfolio Management
- Portfolio Overview: Easily see the performance of your entire crypto portfolio in one place, including your holdings, their current value, and any changes in price.
- Price Alerts: Set custom notifications for price movements of your favorite cryptocurrencies to stay informed about market changes.
- Transaction History: View your complete transaction history, including buys, sells, and transfers, to keep track of your investments over time.
- Asset Diversification: Diversify your portfolio with multiple cryptocurrencies and ensure you’re not overly concentrated in any one asset.
How to Track Your Portfolio
- Step 1: Open the Revolut app and navigate to the “Crypto” section.
- Step 2: View your portfolio’s total value and individual asset performance on the dashboard.
- Step 3: Customize your display settings to show only the assets you’re interested in.
- Step 4: Set price alerts to get notified of important price movements.
“Revolut allows you to manage your cryptocurrency portfolio with a range of features designed to simplify tracking and decision-making.”
Portfolio Performance Table
| Cryptocurrency | Current Value | 24h Change |
|---|---|---|
| Bitcoin | $50,000 | +2.5% |
| Ethereum | $3,000 | -1.2% |
| Ripple | $1.20 | +0.8% |
Withdrawing Crypto from Revolut to an External Wallet
Revolut allows users to buy, sell, and store cryptocurrencies directly within its app. However, for those looking to transfer their crypto to an external wallet, the process requires a few additional steps. It’s important to follow the correct procedure to ensure that the funds are safely transferred without any issues.
Before proceeding, ensure that your external wallet is fully set up and ready to receive the transfer. You will need the wallet address and possibly the wallet type to complete the withdrawal process. Revolut supports only certain cryptocurrencies for external transfers, so check whether your coin is eligible for withdrawal.
Steps to Withdraw Crypto from Revolut
- Open the Revolut app and go to the “Crypto” section.
- Select the cryptocurrency you want to transfer.
- Click on the “Send” option, and choose “Send to an external wallet.”
- Enter the wallet address provided by your external wallet.
- Confirm the transaction and follow the app’s security steps (such as two-factor authentication).
- Review the details and click “Send” to initiate the transfer.
Important: Ensure that the wallet address is accurate. Sending crypto to an incorrect address can result in permanent loss of funds.
Transaction Fees and Limits
Revolut charges a small fee for withdrawing crypto to an external wallet. These fees vary depending on the cryptocurrency and the network load. Additionally, Revolut imposes certain withdrawal limits, which are typically based on your account’s verification level.
| Cryptocurrency | Withdrawal Fee | Withdrawal Limit |
|---|---|---|
| Bitcoin (BTC) | 0.0005 BTC | 10 BTC/day |
| Ethereum (ETH) | 0.005 ETH | 50 ETH/day |
| Litecoin (LTC) | 0.01 LTC | 100 LTC/day |
Note: Fees and limits may change based on market conditions. Always check Revolut’s app for the most up-to-date information.