Bitcoins and others cryptocurrencies


#1

Hello everybody,

I’m ready to put a little money in cryptocurrencies and first in bitcoins (as it seems the easiest way to buy others cryptocurrencies).

If I’m right, BTC should be available in Revolut very soon ? Well, could some Revolut team or anybody else tell me if I’ll be able to change € or $ in BTC and then transfer theses BTC to my bitcoin wallet ?

Thanks !


#2

Nobody ? :slightly_frowning_face:


#3

You will be able to hold a Bitcoin balance in your Revolut app, but you won’t be able to transfer Bitcoin to an external wallet. Our lead platform engineer will be sharing a blog post about our choice of approach on Medium later this week


#4

Hello Edward,

Thanks for your answer. So, I could exchange, for example, us dollars to BTC or BTC to us dollars like any others currencies accepted by Revolut ?


#5

Exactly. We have take this approach as it’s the easiest way to convince partners to work with us given their reticence to enter crypto space. Also we want to make exposure to crypto as widespread as possible, so the simplest possible solution to begin with will help adoption


#6

Ok, thanks again. Could you tell me a date ? Also, only BTC or some others popular cryptocurrencies ?


#7

Still working on some parts of the implementation but will be before Xmas. Also LTC and ETH will be supported


#8

will we be able to transfer bitcoin in to revolut from another wallet, and then exchange it for local currency to spend via the card?


#9

@chrisdalott No. There is a blog post up now on this at https://medium.com/revolut-engineering/how-revolut-are-leading-the-way-with-cryptocurrencies-462df9c822b1
Basically, this is just a way for you to hold a balance in BTC, LTC, ETH. It is (certainly at launch) a closed system within Revolut. Still very good and a step in the right direction.
One of the reasons for this is Anti Money Laundering regulations and banks interpretations of them. Meaning that if an ‘unverified’ source is funding the Revolut card, it could be used for ‘money laundering and terrorist finance’.
It means that in order to satisfy any banking partners funding can only come from a verified source.
For this reason I think it may be possible and should be likely that Revolut (C’mon Revolut!) will partner with Coinbase (whose customers are verified) to allow transfers in and out of Revolut in Crypto from there only. But that’s for the future…hopefully…
Right, @edward?


#10

Excited by this development and looking forward to it :slight_smile:

Just want to add a feature request for DASH.

Out of the leading crypto coins, it is one of the best set up to be incorporated into daily transactions. So it’s a good match for Revolut, imo.


#11

Hi all,

Enthusiastic also with crypto currencies and would be happy to benefit from simplicity of Revolut to handle it.
How is it going ?


#12

Hi! Almost 1 month until Christmas… any more info about this? Is there anyway to beta test this?


#13

We’re just perfecting this feature.:rocket:A little bit more patience!:pray:


#14

Happy happy joy joy, then santa might come early this year! :1st_place_medal:


#15

Looking forward to the BTC option. Can the team say how much fees will be? Will it be a percentage or will it be as with other currencies where the market dictates?

If I sold my BTC on an exchange, can the money be transferred to my Revolut UK bank account and if so, if it is sent in Euro, GBP or USD, will I be charged any fees?

I have also noticed that I am unable to buy BTC with my Revolut card on the exchange because of 3D verification. Will this change?