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Revolut trading platform is an extension of its mobile banking app to start trading. This Britain-based fintech company that offers banking services is getting popular to send and buy money in the form of digital money. You can buy btc with Revolut from the listed vendors or you can create your own offer to sell Bitcoin in Revolut balance. Please visit the website https://www.revolut.com/ to join Revolut for free.

In this guide, you will find detailed information about Revolut mobile app and how to buy btc with Revolut. Let’s start with it!

What is Revolut?

Nikolay Storonsky and Vlad Yatsenko founded Revolut on 1st July 2015. Its headquarters are in London, England. Revolut provides a wide range of banking services including GBP and EUR bank accounts, debit cards, fee-free currency exchange, stock trading, cryptocurrency exchange, and peer-to-peer payments. Its profitability rate was reached £4.2 billion by the end of 2020. Revolut customers can send and buy btc with Revolut to make payments. You can transfer money to over 150 countries using interbank exchange rate.
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What services are offered by Revolut?

You can send money in 29 currencies directly from Revolut’s app. Likewise, Revolut’s mobile app assists ATM withdrawal and spending in 120 currencies. The customers can get complete access to cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and XRP. You can get full access by exchanging cryptocurrencies with 25 fiat currencies. It applies a fee of 1.5% for selling or buying applies. However, you cannot spend or deposit cryptocurrency. You can only convert it back into fiat money inside Revolut.

How can I open a Revolut bank account for trading?

There are some legal requirements to open a Revolut trading account such as:

  • You should be a legal resident of United Kingdom’
  • You must be at least 18 years old
  • You already hold a Revolut account

You can easily set up a Revolut bank account to send or buy btc with Revolut. Follow these simple steps:

  1. Download Revolut app from Apple Store or Google Play Store
  2. Add your mobile phone number for verification
  3. Add your personal information including name, email address, home address, and date of birth
  4. Verification of your identity through the app via passport or ID
  5. Wait for 2 to 3 minutes for your verification
  6. Now click on the ‘’Wealth Tab’’ to get a few extra details about the investment. You might need to enter your National Insurance number and information

Congratulations! You have successfully created a Revolut trading account. Start investing through this account.

How to fund your Revolut account?

The investors are required to transfer funds from their existing Revolut account for funding their accounts. The investors can fund their Revolut account with a bank transfer, credit card, or debit card to sell or buy btc with Revolut. However, the investors can only hold funds in USD in trading accounts. It has three tiers that determine the trading fee. Likewise, it also helps to determine the number of trades you can make each month.

  1. Standard accounts are free and allow 1 stock trade per month.
  2. Plus account costs £2.99 per month and allows 3 stock trades per month.
  3. Premium account costs £6.99 per month and allows 5 stock trades per month.
  4. Metal account costs £12.99 per month and allows unlimited stock trades per month.

However, it also includes a 0.01% annual custody fee. The traders are charged £1 per month.

How to buy btc with Revolut?

eToro or Paxful are the two most recommended platforms to buy btc with Revolut. However, you have to find a trusted exchange or marketplace before buying Bitcoin.

eToro:

eToro is an Israel-based multi-assets brokerage company that provides financial and copy trading services. eToro was founded by Ronen Assia, David Ring, and Yoni Assia in 2006. Its headquarters are in London, Tel Aviv-Yafo, and Limassol.

You can buy btc with Revolut through eToro in just three simple steps. Let’s start with it

  • A number of exchanges offer you for trading your funds for Bitcoin. eToro is one of the trusted crypto exchanges. Find it initially.
  • Sign up to create an account to buy bitcoin through eToro. Then, link your bank account and transfer funds into your eToro account.
  • Finally, you can purchase Bitcoin fractionally. For example, if the price of Bitcoin is $10,000, the customers can purchase 0.1 bitcoin for $1,000.

Pros:

  • Simple and user-friendly interface
  • Offer excellent customer support
  • Good market reputation
  • Wide range of global marketplace
  • Zero commission and zero hidden charges

Cons:

You can only withdraw btc in the form of fiat currency

Paxful:

Paxful allows selling and buying btc with Revolut. It was founded by Artur Schaback in 2015. Its headquarter is in New York, USA. It offers 350 different ways to sell and buy Bitcoin easily.

Follow these simple steps to buy Bitcoin on Paxful.

  • Create an account to get your free Bitcoin wallet
  • Search for the offers to find a list of the best sellers
  • Start a live chat with the seller and begin trading
  • Receive Bitcoin directly into your Paxful wallet
  • Pros:
  • Excellent security
  • User-friendly interface
  • A large number of sellers
  • Extensive payment methods
  • Escrow system

Cons:

It has a high risk of scamming for both buyers and sellers.

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Habib Qureshi
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