Crypto exchange rate

Because 5/6% is a lot when you’re moving big amounts. That’s why. It’s easy to be a bull in a bull market wait till it’s a little tougher and those margins make a difference.

That and they’re not being credible and honest in their marketing.

What you see on the Crypto exchange it’s not what you will get. You will need to place your offer on the average price and you need to bid it. BUT the price goes up/down therefore until you proceed the price will finally changed.

On the other hand Revolut offer instant transactions on the value you see in the app! Simple & fast!

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I couldn’t agree more…

Hi there! Could you please provide more info, we would like to investigate this?

So just to understand:

At a specific point in time, I could sell my ether for (from Revolut):
591 euro

Buy for (from Revolut):
617 euro

On Bitstamp
Bid: 602 Ask: 604

Based on Andrea’s explanation 617-591 = 26
So 26 / ((617 + 591) / 2 ) = 0,043046358 = 4,3%

So does 1,3% come from the exchange?

Another example:
I can sell for (from Revolut):
593

I can buy for (from Revolut):
621

So the rate is 4.6%?

Btw not judging, just trying to figure the numbers out

Rates are the least concerning topic now.

Turns out Revolut is selling FAKE BITCOINS.

Revolut Bitcoin isn’t the same as the actual bitcoin, because Revolut bitcoins are backed by the Revolut ledger and not the transactions on the blockchain, which by definition is A FAKE BITCOIN!

Unless you have your own wallet, as it‘s the case for all the exchanges, you can only consider it as a token. Nothing wrong about that but it should be announced as it is. You can only own bitcoin or other crypto if you have the underlying wallet for it. No matter what other are saying.

You can deposit bitcoins to the exchange and withdraw later, so all bitcoins are stored maybe not in the exact wallets according to balances but still all bitcoins were recorded on the blockchain in the exchange.

And Revolut Bitcoin Ledger has nothing to do with the bitcoin, as blockchain doesn’t know anything about the Revolut Bitcoin Ledger and therefore all Revolut Bitcoins are fake. The whole point with the bitcoin that there can’t be any ledgers and credits, just bitcoins recorded on the blockchain and nothing less or more.

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Isn’t it the same for other currencies (EUR/USD etc) too?
I dont understand why this is an issue. Do you actually think that all your other revolut GBP/EUR/USD transactions go straight throught the bank? There is the revolut layer before that. Why should the crypto currencies be any different?

I agree that at some point we need to know the crypto currency address in order to be able to send out coins from external wallets and vise versa, but this is another discussion.

Anyway. I think you’re currently off-topic. This thread is about crypto currency fees.
Peace

3 Likes

Revolut team, review your fees!!! I am trying to sell and you are taking 5%!!! Which is not 1.5% +1.5% of Bitstamp. Please be clear of how much are the fees

Screenshot_20171218-232119!

Screenshot_20171218-232017

@Original seems you’re a bit confused. Just to clarify, we hold 100% reserves, we buy on your behalf from our exchange partners and your crypto exposure is stored on our internal ledger, where you can manage your crypto within the app. It’s real bitcoins.

1 Like

Hahahah are you still complaining for something you don’t get man? I doubt you know how it works and I believe you are here only to create issues. Again if you’re not happy then stop using. SIMPLE AS THAT!

Thanks for the clarification.

Or Revolut just could have done a better job explaining the new feature, fees and making everything way more transparent.

The problem is not the high fee, the problem is that there were hidden/not advertised fees. And the whole thing was super shady you buy bitcoins but don’t get usual bitcoin wallets and features.

There are no hidden fees unless you want to see hidden fees. Apparently, your issue now is that they provide fake crypto. lol You’ve been spamming this forum, complaining literally about everything. You sound like a competitor to me that only wants to harm Revolut.

It’s that the Revolut early fans will become if there will be hidden fees, poor support and zero transparency.

It’s like Uber and all startups. Cool idea, initial hype and tons of hate if the company does not live up to the promises.

Again, there are no hidden fees!!! Read once again Revolut’s answer and do the maths. In fact Revolut is one of the most transparent companies you can find out there.

Like you said, because Revolut is still a startup you should excuse mistakes, e.g. support team. What I see is an amazing company & a real game changer. If this is not good enough for you go elsewhere.

Or squeeze the most you can till you can.

Currently Revolut is doing charity’s work by burning investors money but eventual it will be just an another big company / bank with crappy rates and fees to make up for the investment.

Already they are putting a lot of fees and burden on the users. Like 12 months minimum premium, cancellation fees, highest exchange rates they had yet. And it’s clear that the support and management can’t keep up with the recent growth which leads to exceptionally poor launches like this crypto launch was.