PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin

Going through crypto exchanges can be time-consuming and complex, so we’ve cut out the fat. Get access to cryptocurrencies in seconds at the touch of a button.

Instantly exchange any of our 30 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat.

Opening an account with us takes just minutes, and because we don’t believe in branches, you can set one up directly from your phone.

Check out our real-time cryptocurrency graphs showing you our current rates, and set up price alerts for when your cryptocurrency hits a certain value.

Transfer any of our five supported cryptocurrencies to other Revolut users in seconds with no hidden fees

You must be satisfied that this crypto offering is suitable for you in light of your financial circumstances and attitude towards risk before starting.

Revolut is a Britain based fin-tech company that offers banking services including a prepaid debit card, currency exchange, cryptocurrency exchange, and peer-to-peer payments. The Revolut mobile app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from the app.
Now you can also buy bitcoin using Revolut in Paxful. Paxful makes the process of purchasing BTC with Revolut whole lot simpler. Pay with Revolut to have bitcoin in your Paxful wallet in less than an hour.
You can either buy from one of many offers listed by vendors for selling their BTC using Revolut or create your own offer to sell your bitcoin in Revolut balance. At Paxful, vendors can set their own rates and decide their margins.

Покупайте и продавайте биткоины через Revolut.

Используя Revolut, можно мгновенно и безопасно купить и продать биткоины. Смотрите предложения с оплатой через Revolut.

Вы можете договориться о доставке наличных на дом или забрать их в заранее оговоренном месте.

Продавайте биткоины за подарочные карты со скидкой до 50% от iTunes, Amazon и многих других любимых магазинов!

Вы можете отправить средства на свой банковский счет или счет PayPal, а также друзьям и близким в любую точку мира.

Используйте биткоины для приобретения всего самого необходимого: продуктов, бытовых приборов, кредитов и многого другого.

Приобретайте биткоины из любой точки мира, сделав перевод со своего банковского счета продавцу криптовалюты на Paxful. Как только продавец получит средства, биткоины будут отправлены вам.

Fintech startup Revolut is adding Bitcoin Cash and XRP to its cryptocurrency feature. While cryptocurrency isn’t really Revolut’s focus point, it’s a good way to get started with cryptocurrencies.

If you have a Revolut account, you can now buy and hold Bitcoin, Litecoin, Ethereum, XRP and Bitcoin Cash. Behind the scene, the startup has partnered with Bitstamp to process the transactions. Revolut currently charges a 1.5 percent fee for cryptocurrency transactions. There are currently 100,000 cryptocurrency transactions per day.

Compared to a traditional cryptocurrency exchange, you can’t send or receive cryptocurrencies from your Revolut account.

You don’t get a bitcoin address for instance.

All you can do is buy tokens in the app.

If you want to transfer those tokens somewhere else, you’ll have to sell them for USD, GBP, etc.

So Revolut (mobile bank) recently introduced cryptocurrency trading within their app for a smal 1.5% fee.

Not quite. While buying BTC is quick and efficient, you can’t move your coins to any other wallet (you don’t control the keys either) so the only option is to HODL or sell.

The catch is you sell the coins to Revolut directly and the rate they offer is about ~5% less than current BTC rate so they collect cheap Bitcoin from gullible customers.

When contacting them directly the answer they give is that they offer best available rate I could find.

They don’t actually sell btc or own it. You just het a “token” that is equal in value to eth btc or ltc.

Stupid warning. They are very clear that you cant move Bitcoin from Reolut.

5% off spot isnt bad. If you send £s to a euro exchange (forex cost and fees)…

In one transaction, I sold almost 15 of a certain altcoin on its main P2P website, funds released from escrow, and now more than two weeks later I get this: https://imgur.com/gallery/AiBwZ7h

Note that I had a balance on Revolut even before that transfer, which they don’t bother mentioning.

So the altcoins lost, and more than 3000 EUR lost as well, plus the previous balance, + time lost, + stress, + lawyer costs.

After searching their message on Google, it seems that I’m not the only victim of this business practice. I’m obviously sueing; wish me normality (therefore not luck, because I shouldn’t need luck to get my money back + damages)!

The same happened to me. I didn’t lose a big amount, but it still was a stressful situation.

you can’t do anything with revolut bitcoin as it’s not even on a blockchain..

it’s not even bitcoin imho…

all you can do with that thing they sell you is just sell it again on revolut..

and maybe send to other revolut user….

but unless they allow withdrawal/receiving to/from btc wallets, I would not even call that bitcoin.. as clearly it’s not…

I was kinda excited about revolut crypto.. but being hugely disappointed how they implemented it is an understatement…

I’m a premium member and generally speaking positive on Revolut. But the way they handle crypto on their platform is ridiculous.

I’m homeless, I’ve always been useless with money (obviously!) and I’m unable to get my head around long paragraphs of T&Cs etc.

I really want to get some bitcoin -I’ve just found I’ve got about 200 Euros in my Revolut account (I was working last year and wanted to get Bitcoin then but I had no clue how to go about it and got as far as opening a Revolut account and putting £200 on it which I exchanged into Euros because at that time I’d read that that was what you had to do to buy cryptos at Coinbase.. – anyway, that’s as far as I got because I lost my nerve and didn’t go through with it..)

So anyway, now I want to change that 200ish Euros into Bitcoin (to sit on for as long as I can..

I just realized that buying Bitcoin with a Revolut card is simply prohibited, because Revolut has blocked any payment at a merchant (I wouldn’t quote the company).

For an online bank that claims to be 100% online and offers to buy crypto, this is simply unacceptable!

Yep…they claim to have a crypto section…it’s not though, they don’t prove their purchases and you can’t move the crypto to a different wallet. Technically you don’t own the crypto that they offer, which is exactly why people got into crypto in the first place.

However, there is a BIG downside.

You can’t send any cryptocurrency you purchase on Revolut outside of their platform. This is just a way for people to speculate on cryptocurrency prices (but not actually use them).

I would 100% NOT recommend Revolut’s cryptocurrency exchange.

Welcome to Finextra.

We use cookies to help us to deliver our services.

We’ll assume you’re ok with this, but you may change your preferences at our Cookie Centre.
Please read our Privacy Policy.

For Finextra’s free daily newsletter, breaking news and flashes and weekly job board.

European digital banking outfit Revolut is now letting its customers buy, hold and exchange cryptocurrency from within its app.

Blockchaiiiiinnnnn.

We’re rolling out bitcoin to more of our most active customers.

Swipe right from your Cash Card to see if you have it.

One reply on “PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin”

PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin

Going through crypto exchanges can be time-consuming and complex, so we’ve cut out the fat. Get access to cryptocurrencies in seconds at the touch of a button.

Instantly exchange any of our 30 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat.

Opening an account with us takes just minutes, and because we don’t believe in branches, you can set one up directly from your phone.

Check out our real-time cryptocurrency graphs showing you our current rates, and set up price alerts for when your cryptocurrency hits a certain value.

Transfer any of our five supported cryptocurrencies to other Revolut users in seconds with no hidden fees

You must be satisfied that this crypto offering is suitable for you in light of your financial circumstances and attitude towards risk before starting.

Revolut is a Britain based fin-tech company that offers banking services including a prepaid debit card, currency exchange, cryptocurrency exchange, and peer-to-peer payments. The Revolut mobile app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from the app.
Now you can also buy bitcoin using Revolut in Paxful. Paxful makes the process of purchasing BTC with Revolut whole lot simpler. Pay with Revolut to have bitcoin in your Paxful wallet in less than an hour.
You can either buy from one of many offers listed by vendors for selling their BTC using Revolut or create your own offer to sell your bitcoin in Revolut balance. At Paxful, vendors can set their own rates and decide their margins.

Buy and sell bitcoin with Revolut.

Now you can use Revolut for buying and selling Bitcoin instantly and securely with Paxful. See the list of all offers with Revolut.

Get cash delivered right to your door or arrange a pickup at an agreed location nearby.

Trade in your bitcoin for hundreds of different digital currencies of your choosing.

Sell your bitcoin for up to 50% off gift cards from iTunes, Amazon, and many more of your favourite vendors!

Send funds to your bank account, PayPal account, or to friends and family anywhere in the world.

Use your bitcoin to purchase necessities like groceries, appliances, credit, and virtually anything else.

Buy bitcoin by making a transfer from your bank account to a bitcoin vendor on Paxful. Once they receive the funds, bitcoin is sent to you.

Fintech startup Revolut is adding Bitcoin Cash and XRP to its cryptocurrency feature. While cryptocurrency isn’t really Revolut’s focus point, it’s a good way to get started with cryptocurrencies.

If you have a Revolut account, you can now buy and hold Bitcoin, Litecoin, Ethereum, XRP and Bitcoin Cash. Behind the scene, the startup has partnered with Bitstamp to process the transactions. Revolut currently charges a 1.5 percent fee for cryptocurrency transactions. There are currently 100,000 cryptocurrency transactions per day.

Compared to a traditional cryptocurrency exchange, you can’t send or receive cryptocurrencies from your Revolut account.

You don’t get a bitcoin address for instance.

All you can do is buy tokens in the app.

If you want to transfer those tokens somewhere else, you’ll have to sell them for USD, GBP, etc.

So Revolut (mobile bank) recently introduced cryptocurrency trading within their app for a smal 1.5% fee.

Not quite. While buying BTC is quick and efficient, you can’t move your coins to any other wallet (you don’t control the keys either) so the only option is to HODL or sell.

The catch is you sell the coins to Revolut directly and the rate they offer is about ~5% less than current BTC rate so they collect cheap Bitcoin from gullible customers.

When contacting them directly the answer they give is that they offer best available rate I could find.

They don’t actually sell btc or own it. You just het a “token” that is equal in value to eth btc or ltc.

Stupid warning. They are very clear that you cant move Bitcoin from Reolut.

5% off spot isnt bad. If you send £s to a euro exchange (forex cost and fees)…

I’m homeless, I’ve always been useless with money (obviously!) and I’m unable to get my head around long paragraphs of T&Cs etc.

I really want to get some bitcoin -I’ve just found I’ve got about 200 Euros in my Revolut account (I was working last year and wanted to get Bitcoin then but I had no clue how to go about it and got as far as opening a Revolut account and putting £200 on it which I exchanged into Euros because at that time I’d read that that was what you had to do to buy cryptos at Coinbase.. – anyway, that’s as far as I got because I lost my nerve and didn’t go through with it..)

So anyway, now I want to change that 200ish Euros into Bitcoin (to sit on for as long as I can..

In one transaction, I sold almost 15 of a certain altcoin on its main P2P website, funds released from escrow, and now more than two weeks later I get this: https://imgur.com/gallery/AiBwZ7h

Note that I had a balance on Revolut even before that transfer, which they don’t bother mentioning.

So the altcoins lost, and more than 3000 EUR lost as well, plus the previous balance, + time lost, + stress, + lawyer costs.

After searching their message on Google, it seems that I’m not the only victim of this business practice. I’m obviously sueing; wish me normality (therefore not luck, because I shouldn’t need luck to get my money back + damages)!

The same happened to me. I didn’t lose a big amount, but it still was a stressful situation.

you can’t do anything with revolut bitcoin as it’s not even on a blockchain..

it’s not even bitcoin imho…

all you can do with that thing they sell you is just sell it again on revolut..

and maybe send to other revolut user….

but unless they allow withdrawal/receiving to/from btc wallets, I would not even call that bitcoin.. as clearly it’s not…

I was kinda excited about revolut crypto.. but being hugely disappointed how they implemented it is an understatement…

I’m a premium member and generally speaking positive on Revolut. But the way they handle crypto on their platform is ridiculous.

I just realized that buying Bitcoin with a Revolut card is simply prohibited, because Revolut has blocked any payment at a merchant (I wouldn’t quote the company).

For an online bank that claims to be 100% online and offers to buy crypto, this is simply unacceptable!

Yep…they claim to have a crypto section…it’s not though, they don’t prove their purchases and you can’t move the crypto to a different wallet. Technically you don’t own the crypto that they offer, which is exactly why people got into crypto in the first place.

However, there is a BIG downside.

You can’t send any cryptocurrency you purchase on Revolut outside of their platform. This is just a way for people to speculate on cryptocurrency prices (but not actually use them).

I would 100% NOT recommend Revolut’s cryptocurrency exchange.

Welcome to Finextra.

We use cookies to help us to deliver our services.

We’ll assume you’re ok with this, but you may change your preferences at our Cookie Centre.
Please read our Privacy Policy.

For Finextra’s free daily newsletter, breaking news and flashes and weekly job board.

European digital banking outfit Revolut is now letting its customers buy, hold and exchange cryptocurrency from within its app.

Blockchaiiiiinnnnn.

We’re rolling out bitcoin to more of our most active customers.

Swipe right from your Cash Card to see if you have it.

Revolut, one of Europes digital mobile only banks recently partnered with prominent cryptocurrency exchanges — GDAX and Bitstamp to launch their offering within the cryptocurrency space. This is a progressive move, and a further nod to cryptocurrency mainstream adoption — but is it any good?

Revolut offers a simplified way to step into crypto for everyone within the EEA (European Economic Area) — including the UK. For those who have a Revolut account, all they have to do is update the app and they are able to purchase/sell crypto (Bitcoin, Litecoin, Ethereum) instantly, using 25 global currency pairs.

It’s currently only open to Revolut Premium customers, or those who invite three friends, however, this will open up to regular customers in the coming weeks.

You may use your Revolut card to make transactions with your crypto.

One reply on “PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin”

PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin

Going through crypto exchanges can be time-consuming and complex, so we’ve cut out the fat. Get access to cryptocurrencies in seconds at the touch of a button.

Instantly exchange any of our 30 currencies directly into Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP, and all without breaking a sweat.

Opening an account with us takes just minutes, and because we don’t believe in branches, you can set one up directly from your phone.

Check out our real-time cryptocurrency graphs showing you our current rates, and set up price alerts for when your cryptocurrency hits a certain value.

Transfer any of our five supported cryptocurrencies to other Revolut users in seconds with no hidden fees

You must be satisfied that this crypto offering is suitable for you in light of your financial circumstances and attitude towards risk before starting.

Hi! I’m new in crypto world of trades and i want to invest some money in ETH.

I start to convert some USD in my revolut account but i read in this topic that is not a very good idea to use revolut for cryptocurrency, because I might wake up with my account blocked.

I’m oscillating between coinbase, kraken and bitstamp. I read from here also about binance, abra, crypto.com

I want my money to be secure and I do not want to have any problems when I want to converting from ETH to USD.

With revolut you don’t actually own the crypto. You just have a price pegged to it at the point of buying and can sell it later. If you actually want to own crypto I would look at having an account on coin base and then setting up an eth wallet.

Second that. I am pretty sure this is “off chain” crypto.

In one transaction, I sold almost 15 of a certain altcoin on its main P2P website, funds released from escrow, and now more than two weeks later I get this: https://imgur.com/gallery/AiBwZ7h

Note that I had a balance on Revolut even before that transfer, which they don’t bother mentioning.

So the altcoins lost, and more than 3000 EUR lost as well, plus the previous balance, + time lost, + stress, + lawyer costs.

After searching their message on Google, it seems that I’m not the only victim of this business practice. I’m obviously sueing; wish me normality (therefore not luck, because I shouldn’t need luck to get my money back + damages)!

The same happened to me. I didn’t lose a big amount, but it still was a stressful situation.

I just realized that buying Bitcoin with a Revolut card is simply prohibited, because Revolut has blocked any payment at a merchant (I wouldn’t quote the company).

For an online bank that claims to be 100% online and offers to buy crypto, this is simply unacceptable!

Yep…they claim to have a crypto section…it’s not though, they don’t prove their purchases and you can’t move the crypto to a different wallet. Technically you don’t own the crypto that they offer, which is exactly why people got into crypto in the first place.

So Revolut (mobile bank) recently introduced cryptocurrency trading within their app for a smal 1.5% fee.

Not quite. While buying BTC is quick and efficient, you can’t move your coins to any other wallet (you don’t control the keys either) so the only option is to HODL or sell.

The catch is you sell the coins to Revolut directly and the rate they offer is about ~5% less than current BTC rate so they collect cheap Bitcoin from gullible customers.

When contacting them directly the answer they give is that they offer best available rate I could find.

They don’t actually sell btc or own it. You just het a “token” that is equal in value to eth btc or ltc.

Stupid warning. They are very clear that you cant move Bitcoin from Reolut.

5% off spot isnt bad. If you send £s to a euro exchange (forex cost and fees)…

Admit it – you read that subject line and got a little too excited, right? Well, today is your lucky day, we’ve just unlocked cryptocurrencies for your account.

Simply head on over to the app, accept the terms and conditions and you can instantly exchange to Bitcoin, Litecoin and Ethereum at some of the best possible rates.

You can also transfer your cryptocurrency instantly and for free to other Revolut customers or even pay for your morning latte with your cryptocurrency!

We only charge a simple, low-cost 1.5% markup on the average exchange price that we get from our exchange partners.

However, there is a BIG downside.

You can’t send any cryptocurrency you purchase on Revolut outside of their platform. This is just a way for people to speculate on cryptocurrency prices (but not actually use them).

I would 100% NOT recommend Revolut’s cryptocurrency exchange.

Buy and sell bitcoin with Revolut.

Now you can use Revolut for buying and selling Bitcoin instantly and securely with Paxful. See the list of all offers with Revolut.

Get cash delivered right to your door or arrange a pickup at an agreed location nearby.

Trade in your bitcoin for hundreds of different digital currencies of your choosing.

Sell your bitcoin for up to 50% off gift cards from iTunes, Amazon, and many more of your favourite vendors!

Send funds to your bank account, PayPal account, or to friends and family anywhere in the world.

Use your bitcoin to purchase necessities like groceries, appliances, credit, and virtually anything else.

Buy bitcoin by making a transfer from your bank account to a bitcoin vendor on Paxful. Once they receive the funds, bitcoin is sent to you.

Keep up to date with all the latest news from Coin Rivet.

By signing up, you agree to our terms & conditions and privacy policy

Users can earn up to 1% cashback on payments in any of Revolut’s 29 supported currencies, including Bitcoin, Litecoin and Ether. They can also withdraw up to £600 per month in free international ATM withdrawals and take advantage of a dedicated concierge service for booking everything from flights to festival tickets.

Unlimited foreign exchange is also available, along with free international money transfers, 24/7 priority customer support and overseas travel insurance that will cover the likes of health, dental, flight and luggage delays.

It costs €13.99 per month or €135 per year (£12.99 per month or £120 per year).

The banking industry as we know it today is changing at a rapid pace. The days of walking into your local branch to open an account with countless documents are a thing of the past. Add in the likes of cashing a cheque, paper statements, telephone support, or physically transferring funds – and you get the drift.

The challenger banking application allows you to perform the vast majority of your everyday banking needs at the click of a button.

Revolut, one of Europes digital mobile only banks recently partnered with prominent cryptocurrency exchanges — GDAX and Bitstamp to launch their offering within the cryptocurrency space. This is a progressive move, and a further nod to cryptocurrency mainstream adoption — but is it any good?

Revolut offers a simplified way to step into crypto for everyone within the EEA (European Economic Area) — including the UK. For those who have a Revolut account, all they have to do is update the app and they are able to purchase/sell crypto (Bitcoin, Litecoin, Ethereum) instantly, using 25 global currency pairs.

It’s currently only open to Revolut Premium customers, or those who invite three friends, however, this will open up to regular customers in the coming weeks.

You may use your Revolut card to make transactions with your crypto.

One reply on “PSA: do not use Revolut if you’re dealing with cryptocurrency in any way! : Bitcoin”