Let me apologise for the delay in getting back to you. We’d like to clarify that we derive our prices from the exchanges we have partnered with. The rates you see on screen are based on ‘bid’ and ‘ask’ prices streamed from these exchanges. Depending on the type of transaction you want to initiate (buy or sell), we calculate a volume weighted average from the live orders that are currently available on the exchanges and add a 1.5% flat fee to that rate. This is then displayed for you and is locked, once you execute the transaction.
Unlike other exchange providers Revolut offers an instant exchange, where with other Crypto providers you can only place an offer and not instantly exchange.
@jlomo0423 you’re almost right. However, the numbers are not correct.
Let me clarify it’s not a 4-5% spread but around 3.4%.
For example, the Ask at the moment (price at which Revolut sells bitcoin) is 16855 & Bid (price at which Revolut buys bitcoin from customer) is 16264. Therefore the difference between Ask & Bid is 591 which equals to 3.4%.
Breaking down this 3.4%, it give us a 1.5% which is the fee applied by Revolut on the exchange provider Ask price and a 1.5% which is the fee applied by Revolut on the Bid price and the rest 0.4% comes from the exchange which depends on market depth.
Another example is LTC:
Ask Price is 300.35 (USD) & Bid price 290.00 the difference is 10.35 USD which is 10.35/295 = 0.0344, which means 3.44%
Breaking down this it gives us a 3.44% which comes from:
3% = 1.5% + 1.5& comes from Revolut (1.5% Ask & 1.5% Bid) & 0.4% comes from the exchange.
Regarding the pricing graph, we’re aware it’s not completely accurate at the moment. However, we’re working on fix and it should be live soon.