Revolut U.S. launches easiest and fastest way to buy cryptocurrency

Sonja Polimac

 · July 15, 2020  · 07/15/2020

It’s finally here! Revolut U.S. customers are now able to buy, hold and exchange Bitcoin and Ethereum in just seconds at great rates. We wanted to bring cryptocurrency to everyone, not just the enthusiasts. We’ve simplified the complex sign-up process, removed the high fees and made trading in crypto quick and easy for all Revolut customers.

Getting started is simple. Revolut will waive all commissions to buy or sell cryptocurrency (“Crypto”) from now until August 14th!  See the terms and conditions for more details.

But before you get started, we wanted to explain the process, highlight the risks involved and let you know how we’re going to initially roll out the feature. Discover everything about safer, faster crypto here in this post.

How to buy crypto through Revolut

Buying cryptocurrencies has never been easier. Simply download the latest version of the app for iOS or Android, go to the ‘Wealth’ tab, and select cryptocurrencies. Please ensure that you read the terms and conditions and understand the risks associated before proceeding.

Once this has been done, you’ll then be able to exchange any of our 28 base currencies into Bitcoin or Ethereum in seconds, all at great rates.  If you are exchanging from a non-USD currency, don’t worry. We handle everything for you by automatically exchanging to USD, and then to your preferred cryptocurrency.

Totally accessible crypto

Beyond exchanging money in-app for crypto, you can automatically round-up your spare change from your Revolut card into crypto. You can even send crypto to other friends on Revolut (P2P) and it arrives instantly.

How to keep track of your crypto
You can move in and out of the market in real-time. We’ll send you instant notifications and alerts so you’ll always know what the market is doing and get opportunities to trade at the price you want. You can even set up auto-exchange so we  handle everything for you, at prices you set.

What can you do with your crypto?

Once you have exchanged your money into crypto in the app, you can:

  • Hold it securely, just like you would any other currency
  • Instantly transfer it to other Revolut users for free
  • Exchange it into any other supported cryptocurrency or any of our 28 currencies using great rates

What fees will we charge?

For the first 30 days, Revolut  will waive commission and fair usage fees customers can buy or sell crypto.  That’s right - commission free crypto!

In true Revolut fashion, we're being completely transparent with our customers. Starting on August 15, 2020 we'll apply a small commission of 2.5%, with no other hidden fees or charges during the exchange process.  Premium customers are charged 1.5% commission.

Which cryptocurrencies will Revolut support?

We’ll give U.S. customers exposure to Bitcoin (BTC) and Ethereum (ETH).

Who can access the crypto feature?

Our cryptocurrency feature will be available to all customers in the U.S., except customers in Tennessee.

How is Revolut able to offer crypto?

Revolut works with Paxos Trust Company, LLC to provide you with high liquidity, market-low rates and lightning fast execution. Paxos is an established, secure, and trusted exchange that is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.

Why choose Revolut over traditional exchanges?

Revolut is the fastest and easiest way to gain exposure to cryptocurrencies. The exchange process is instant and, for the first time, Revolut users will be able to buy crypto in all 28 currencies, not just U.S. dollars.

What are the risks of crypto?

Despite all the hype, you should be aware that cryptocurrencies also involve a high degree of risk. You should therefore carefully consider whether trading or holding cryptocurrency is suitable for you and your financial situation.

Please see our FAQs for the main risks to keep in mind.

How to enable Crypto*

Make sure you’ve downloaded the version 7.8 or later of the app

  1. Open the Revolut app
  2. Tap on the “Wealth” tab
  3. Select “+Buy” or “-Sell” button and enter purchase amount in USD
  4. Select type of Crypto and tap “Continue”
  5. Tap “accept and buy” button *Where available. T&Cs apply.
Enable Cryptocurrency