Although most investors prefer to buy Bitcoins on platforms such as Coinbase or Kraken, for a few weeks it has been possible to buy Bitcoin from Revolut . If you want to invest in this virtual currency without complications and almost instantly, it is an option to consider. We explain how you can do it in this article.
🤔 What is Revolut?
Revolut is a bank of British origin born a few years ago with the intention of revolutionizing the traditional banking sector. This bank is committed to the end of the branches since all the procedures are made from the app .
In addition to the possibility of investing in Bitcoins, the main characteristics of this bank are the following:
- Currency exchange without the need to pay excessive exchange rates
- Possibility of keeping different foreign currencies in your account in order to change them when you can get the best return
- It allows you to create as many accounts as you need , very useful for paid subscriptions that you do not want to be charged and, of course, to maximize the security of your global account
- You can also link it to as many credit cards as you want (both virtual and physical)
- It allows you to easily invest in currencies, companies (stock market) and commodities such as gold or oil
💸 Invest in Bitcoins at Revolut
Once you have your Revolut account created, you have the possibility of acquiring up to € 1000 in Bitcoins . If you want to buy more, you will have to improve your account by paying one of its available plans (Premium, Metal, etc.).
To start buying Bitcoin in Revolut you have to go to the second tab of this application. As you can see in this screenshot, different investment options appear, the second will be Crypto where you will find all the virtual currencies.
Keep in mind that these types of applications change them every month so it may be that the image you have in your app is somewhat different from the one you see here. But as you can see it is very easy and you have to go to the crypto section to select the amount of Bitcoins you want to buy by clicking on Invest and then on Buy .
On this screen you can place a market order or make a periodic order . If you want to buy now, the first option is the one you must select. If instead you want a periodic purchase to be made every week, for example, press the second option.
And finally we would already be on the screen where you have to add the amount you want to buy. On this screen you get the current price of Bitcoin . The commission charged by Revolut of 1.5% is quite similar to what you can find on other platforms
💰What other virtual currencies can I buy in Revolut?
In addition to this currency, from Revolut you can also buy BITCOIN Cash, Ethereum, Litecoin and Ripple .
The procedure will be the same as the one we have seen previously, with the only difference that we will have to add the name of these coins in the search engine. Every time this bank is adding more coins so it may be that this list is expanded.
🏦 What is the commission?
As we have seen before, the commission to buy cryptocurrencies is 1.5% for the first € 1000. From that amount, in addition to this commission, you will have to add the cost of upgrading the plan. Although this cost ranges from € 7 to € 14 and if you acquire a lot of coins it will tend to zero.
One of the advantages of this service is that you can invest from only € 1 , so it is designed for small investors who want to start in the world of cryptocurrencies without putting all their capital at risk.
🔐Is it safe?
Revolut is one of the most used online banks today. It has large investors behind it and although it is part of the new Fintech companies, its structure is similar to that of a traditional bank in terms of security. There are no risks in buying Bitcoins from this bank beyond the usual ones that imply a permanent price drop. But this is a risk that we will have in any investment and that you must always take into account.
If it is true that unlike other platforms, with Revolut we cannot send these virtual currencies acquired to our wallets . If our account is stolen, we would have a serious problem, so we recommend that you do not give anyone your access code to this bank (or any), as well as use a security code that is as complex as possible.
What if you have to keep in mind at all times when investing in cryptocurrencies is that it is a very volatile market so it is normal for prices to go up and down a lot and your capital is affected for better or for worse. considerable. Only invest the money that you will not need and after training on investment and bitcoin to know what you are doing at all times.