As a premium user who’s looked into the new crypto feature, I have some questions regarding how the crypto currency prices are derived; I’m not the only one who has noticed that the Revolut price differs from the Bitstamp price quite a bit.
One of your colleagues from support has stated that Revolut calculates a Volume-weighted Average Price and then adds an extra 1.5% for volatility purposes. However, at first glance, this doesn’t seem to be the case.
Today I decided to buy some ETH around 12:45 GMT at an exchange rate of 394.58 EUR/ETH
The highest printed price traded on Bitstamp between 12:30 and 13:00 was 388. Assuming I had bought at the highest traded price + a 1.5% fee, I should have paid a maximum rate of 393.82. - yet I still received a worse rate.
Not to mention that ETH/EUR had been coming up slowly all day up to that point - therefore a VWAP rate +1.5% should be much better than the one I received.