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
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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
!
@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.
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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.
First of all how do you know if they’re burning investors funds? All the fees are clearly listed on their website & in the app. Most of their services are completely free and it’s up for the users to upgrade or not to Premium.
“highest exchange rates they had yet” Are you serious? Revolut provide the superior interbank rate with no commission. All their features are at least cheaper 3 - 5% than others.
I’m gonna say this for last time if you’re not happy with this service you can close your account and go away and let us enjoy this amazing service
Maybe read the investor report.
Revolut’s first year of full accounts show it lost £7.1 million on £2.3 million of revenue.
Same will be this year. Yet free cards become paid, zero exchange fees become 3-5% with crypto addition. Free first month of premium become 14 pounds fee upon the cancellation…
hahahahahaha go away
I imagine that £14 fee was because you used the fast delivery option.
I know not everyone reads T&C’s but Revolut’s are quite clear cut and I encourage you to read them. If you don’t get the product I don’t really get what the purpose is of posting on this forum? Especially under the wrong threads such as this one.
Merry Christmas 
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Hi guys!
Hope you had nice holidays.
You can find here: https://blog.revolut.com/what-you-really-need-to-know-about-revolut-crypto-rates/ our latest post blog.
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I just smacked with with 6% spread on buying crypto in addition to the 1.5%
Absolute bollocks!!
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