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Using Revolut app to purchase Bitcoin

  • 14-10-2021 1:00pm
    #1
    DeWanderer
    Registered Users, Registered Users 2 Posts: 57 ✭✭


    Hello, I have a basic Revolut plan. Bitcoin is easy to purchase using the app. I'm planning on getting a few hundred quid worth (small fraction of one Bitcoin). I see their fee is 2.5%.

    Is this fee taken on purchase and then again at sell?

    Are there any other fees I'm missing?

    Fees seem comparable to other companies (Coinbase etc). Any reason why I should go with a company other than Revolut?

    I'm aware of the volatile nature of Bitcoin.

    Any feedback would be appreciated. Revolut just seems like the handiest option for me.

    Thanks.

    Post edited by DeWanderer on


Comments

  • #2
    melatonin
    Registered Users, Registered Users 2 Posts: 107 ✭✭melatonin


    yeah fee's on purchase and sales, the main issue as far as i've read and probably misunderstood is that you don't actually own the crypto purchased on Revolut for the most part. You can't withdraw/transfer them out


    If it's convenience and you're okay with the fee's personally i don't see any issue with using Revolut



  • #3
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    Yeah, Revolut is a good option for beginners to get exposure to crypto. Easy to buy and sell but fees and spread between buy & sell prices are quite big.

    Orange pilled.



  • #4
    borderfox11
    Registered Users, Registered Users 2 Posts: 79 ✭✭borderfox11


    What they charge versus the traditional exchanges is a complete ripoff



  • #5
    Rewired
    Registered Users, Registered Users 2 Posts: 79 ✭✭Rewired


    You can transfer Bitcoin from Revolut, fwiw, just not any other crypto.



  • #6
    HGVRHKYY
    Registered Users, Registered Users 2 Posts: 464 ✭✭HGVRHKYY


    https://www.boards.ie/discussion/comment/118022878#Comment_118022878

    This. Can't understand how people are just too lazy to bother taking the few minutes to sign up a new account for a proper exchange, you only need to do it once



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