You can now buy bitcoin, ethereum and other cryptocurrencies on Revolut.
But what’s the catch?
What Is Revolut?
Revolut was launched in July 2015 and it’s already one of the most known alternatives to online banking.
Their headquarters are in London, UK and as of the writing of this article they have over 2 million users (June, 2018).
Revolut offers following services:
- Prepaid Debit Card
- Currency Exchange
- Crypto Exchange
- Peer To Peer Payments
- Global Money Transfers
Revolut is absolutely free to use as they don’t charge any fees for most of their services.
Can I Buy Cryprocurrencies on Revolut.com?
Revolut recently added cryptocurrencies to their platforms. You can buy cryptocurrencies like bitcoin, ethereum, litecoin, bitcoincash and ripple directly from the app. Their crypto offering is quite limited because only these 5 cryptocurrencies are available at the moment.
What’s even worse is that you cannot withdraw any cryptocurrency from Revolut. You can only buy, sell or transfer it to other revolut users. This makes Revolut a bad platform is you are interested in cryptocurrencies only.
However they do offer real time rates and you can track the performances of your cryptocurrencies. You can even set price alerts to get notified when a certain cryptocurrency reaches your desired price.
Alternatives To Revolut.com
If you want to get started with cryptocurrencies then we recommend picking one of the top rated bitcoin brokers here. The all offer a bigger number of cryptocurrencies. Or if you are interested in crypto trading then sign up with Binance (here is our binance review).
Should I Buy Bitcoin On Revolut?
Honestly you can’t really do much with the crypto you buy on Revolut. You can’t spend it, you can’t trade it. All you can do is to hold it and hope that its value goes up, or send it to somebody else.
Think about what your goals are when buying cryptocurrency and then decide if buying it from Revolut is the best choice.