In this step-by-step guide we outline the most secure and affordable way for UK investors to purchase Bitcoin and other cryptocurrencies such as Ethereum or Avalanche.
There are two ways you can buy crypto with Revolut, directly through their platform or via a regulated, licensed and secure cryptocurrency exchange like eToro.
Table of Contents
Can I buy Crypto on Revolut?
Yes, you can buy Bitcoin and other cryptocurrencies directly on the Revolut platform. However, the trading fees are fairly expensive starting at 2.5% for normal Revolut users and 1.5% for Metal and Premium members. Most cryptocurrency investing platforms charge anywhere between 0.1% - 1% for trading fees.
We recommend not investing in cryptocurrency directly on their platform but instead link your Revolut bank account to a regulated, secure cryptocurrency exchange like eToro to purchase crypto. Not only does Revolut have high fees, but they are not regulated by the FCA whereas eToro is.
How to buy Bitcoin and Crypto with Revolut
In this guide we will show you how to buy Bitcoin and other cryptocurrencies with your Revolut bank account. You will simply need to link your bank account to a regulated and licensed cryptocurrency exchange like eToro. Once linked to eToro, you will have access to multiple assets including cryptocurrencies, stocks, ETFs, FIAT currencies and much more.
Follow the below steps to get started:
Step One: Sign up to eToro UK and verify your identity
Step Two: Select ‘Deposit Funds’ and choose Bank Transfer as payment method and enter the amount of GBP you wish to deposit
Step Three: You will be redirected to their banking details page, simply copy their details into your Revolut banking app and send the desired amount to their bank.
** Bank Transfers may take approximately 4-7 working days to be processed from the time of transfer.
Step Four: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’
Is Revolut good and safe for Crypto?
No, we do not recommend using this platform for the purchasing and selling of cryptocurrencies, as they charge significantly high fees and are not properly regulated or licensed. Your capital may be at risk if you use this platform for trading.
As a bank they have acquired the correct licensing to operate but are yet to implement the same measures as a cryptocurrency exchange. There are many warnings and disclaimers all over their website in regards to cryptocurrency investing. eToro on the other hand has been around since 2008 and is fully regulated and licensed in most countries.
Buy Crypto Fees: Revolut
When purchasing cryptocurrency on Revolut directly you will incur a 2.5% trading fee as a normal user and if you’re a Premium or Metal member it is 1.5%. eToro’s fees start from 1% and go up to 0.1% depending on your trading volume. For fees, eToro is the most affordable option.