As cryptocurrency adoption surges, newcomers seek user-friendly platforms to invest in digital assets. Banking apps like Revolut have integrated crypto services, leveraging their existing infrastructure to simplify trading. But is Revolut the right choice for crypto enthusiasts? This guide explores its features, fees, security, and alternatives.
Revolut Background
Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut Bank UAB operates as a Lithuania-registered neobank. The platform combines traditional banking services (accounts, cards, savings) with crypto, stock, and commodity trading.
Key Stats
- 100+ cryptocurrencies supported (e.g., Bitcoin, Ethereum, Solana).
- 30 million+ global users (as of June 2023).
- Five-tier subscription plans, including a free Basic option.
⚠️ Note: Revolut does not offer crypto services to U.S. residents (as of October 2023).
Revolut Crypto Features
1. Trading Fees
- Basic/Plus Plans: 1.99% per transaction.
- Premium/Metal/Ultra Plans: 1.49% per transaction.
👉 Compare Revolut’s fees with other platforms to optimize costs.
2. Withdrawal Fees
- Network Fee: Paid to blockchain validators (varies by congestion).
- Service Fee: Charged by Revolut (disclosed upfront).
3. Supported Cryptos
Revolut’s curated list includes top assets:
| Bitcoin (BTC) | Ethereum (ETH) | Cardano (ADA) |
|--------------|---------------|--------------|
| Solana (SOL) | XRP (XRP) | Polygon (MATIC) |
Why This Matters: A limited selection ensures vetting for security but excludes niche altcoins.
Security and Ownership
Is Revolut Safe for Crypto?
- No recorded hacks, but users should enable 2FA and avoid phishing scams.
- Custodial Wallet: Revolut holds keys via third-party services.
🔐 Pro Tip: For full control, transfer crypto to a non-custodial wallet (e.g., Ledger, Trust Wallet).
Do You Own Your Crypto?
Yes, but with caveats:
- Revolut’s 2023 T&Cs confirm user ownership.
- Funds are held by custodians—risk remains if Revolut or partners face insolvency.
How to Buy Crypto on Revolut
- Sign Up: Download the app and complete KYC.
- Deposit Fiat: Link a bank account or card.
- Trade: Navigate to Crypto > Trade, select an asset, and confirm the purchase.
Top Revolut Alternatives
1. Swissborg
- Pros: Intuitive interface, fast fiat transfers, strong community.
- Cons: High-tier benefits require locked BORG tokens.
2. Nexo
- Pros: 0% interest crypto loans, competitive fees.
- Cons: Limited token selection for trading.
3. eToro
- Pros: Social trading, educational resources.
- Cons: High withdrawal fees, mixed customer support.
👉 Explore these alternatives in detail to find your ideal platform.
Final Verdict: Is Revolut Good for Crypto?
For Beginners: Revolut offers a seamless entry with built-in banking tools.
For Advanced Users: Dedicated exchanges (e.g., OKX, Coinbase) or CeFi apps (e.g., Nexo) provide deeper functionality.
FAQs
Q1: Can I withdraw crypto from Revolut to my private wallet?
Yes, but fees apply. Navigate to Crypto > Transfer Out and enter an external wallet address.
Q2: Does Revolut support staking or earning interest on crypto?
No. Consider platforms like Nexo or Swissborg for yield-generating products.
Q3: Are Revolut’s crypto fees competitive?
Moderate. Compare with Coinbase (1.49%–3.99%) or Binance (0.1% spot trading fee).