Got my Revolut account last year and just set up crypto facility to compare with my Coinbase account. Have read a lot of anguish, wailing and gnashing of teeth in topics here about the fees and costs of buying cryptos on Revolut.
Its not so bad…
Snapshot this instant 01.14 11th Feb…
Exchange £500 on Revolut for BTC, 0.0823BTC goes into my account all costs paid.
Exchange £500 on Coinbase for BTC, 0.0789BTC goes into my wallet all costs paid.
That 0.0034 difference equates to saving about £20. That’s 4% of £500.
So Revolut ahead on buying transaction cost.
So Revolut is better on cost/fees/spread but it’s purely an account. Coinbase is a wallet so you can spend your coins… but as if anyone does! Maybe thats its achilles heel… it’s a currency but so unstable it will never be practical as one. We’re all just betting it’s gonna be the grandaddy of them all sometime in the future!
Nice feature in Revolut is you see the BTC price in real time though the historical graphs are generalised and unscaled. Coinbase has better historical graphs. They both trade BTC, ETH, LTC, Coinbase also trades BTH Bitcoin Cash.
Overall the better cost plus the seamless join with the banking facilities and excellent currency conversion means Ill more than likely be doing my cryptos on Revolut. So far it seems good.
Btw thanks for developing the Revolut account Revolut people, really great
Strange… I bought yesterday £1000 worth of bitcoins and immediately visualize £800+ which makes it almost 20% cost!!! I am here to check what i missed and what the conditions are.
Strangely, on my banking side of the app it says NO FEES, but in the details of my wallet there is this huge fees…
Can anyone explain please? (Metal account)
Indeed, mine was 15% and i have metal account. It is not a direct fee as it is shown in BTC, it’s hidden. I heard it is not that bad compared with what’s out there, but still… it should be made a lot clearer that when you buy BTC you start on a huge 15% loss…
I just sold 1000 XRP at 1PLN each, and I received 986 pln into my account, in the transaction I can read "Fee: 0XRP, but I am missing 14 PLN from a simple math.
Indeed the 1.5% fee they advertise is applied when you SELL cripto. When you BUY i think it depends on the type of crypto, I have only found the surprise when i bought BTC and don’t intend to do any more transaction in cryptocurrency as long as fees will be so high.
I am metal… so, disappointing.
I just got confirmation that the fee is the same for selling and buying, for Metal and Premium users it is: 1.5%
For regular users, it would be a whopping 2.5%
I think I’ll move slowly back to Binance, they have a flat trading fee of 0.10% to continue trading
