Does Revolut Accept Bitcoin? -Know More

In the year 2021, Revolut has decided to add a selection of new crypto tokens based on analysis by the crypto team and customer requests and inquiries. Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph are among some of the eleven new crypto tokens. Let us know about “Does Revolut Accept Bitcoin?”

Does Revolut Accept Bitcoin?

A Revolut card cannot be used to pay in bitcoin. This implies that if you use a Revolut card to make a payment and your entire balance is in bitcoin, the transaction will fail within the Revolut platform. However, you may purchase, sell, and redeem Bitcoin.

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What Is Revolut Cryptographic Payment, And How Does It Work?

Cryptocurrency withdrawal is a transaction that allows you to transfer your cryptocurrency balance from Revolut to an external cryptocurrency that you manage. This is a transaction that takes place “on-chain.” In other words, the cipher is sent through the blockchain. P2P transfers (also known as “off-chain” transfers) to another Revolut user are different. Revolut changes its internal ledger to reflect the transfer in this situation, but there is no real transaction on the blockchain.

Note: Once a cryptocurrency withdrawal has been made, it cannot be reversed.

How To Convert Revolut Bitcoin To Cash?

  1. Select the BTC screen or hit […] in the Crypto part of the home page to move the crypto to an external wallet.
  1. Then tap “Withdraw”. 
  1. You may add the address either by scanning the QR code or manually typing it in. 
  1. Once a cryptographic withdrawal is made, it cannot be reversed.

Revolut’s Bitcoin Buying Options

Revolut offers three options for purchasing cryptocurrency:

Buy Now 

Tell Revolut how much e-money you want to spend, and they’ll tell you how much bitcoin you can purchase. If you choose ‘exchange,’ they will accept your request and purchase the cryptocurrency from one of their linked exchanges, such as Coinbase or Bitstamp.

Auto Exchange 

You can provide the ‘target’ exchange rate you want to use. You may also choose how much e-money you wish to spend, and they will calculate how much cryptocurrency you can purchase with the objective. Your instructions will be provided automatically if you select ‘auto swap.’ If the goal rate is met and Revolut accepts your instructions, they will purchase cryptocurrency through Coinbase and Bitstamp.

Recurring Buy 

You can provide your preferred ‘target’ exchange rate. You may also specify how much e-money you want to spend, and they’ll figure out how much cryptocurrency you can buy with it. If you choose ‘auto exchange,’ your instructions will be delivered automatically. Revolut will acquire cryptocurrencies through Coinbase and Bitstamp if the goal rate is attained and your instructions are followed.

Will There Be A Cost For Bitcoin Exchange With Revolut?

Revolut applies a margin to their determined rate, which you may see separately before executing a transaction and later in transaction details. Depending on the plan you’re on, the margin fluctuates. Their Metal and Premium clients pay 1.5 percent, while their Standard and Plus customers pay 2.5 percent. At the moment of the exchange settlement, the price you pay is fixed.

How To Sell Bitcoin On Revolut? 

If you tell Revolut to sell bitcoin, they’ll do two things: sell bitcoin at the current exchange rate and second, deposit the money into your Revolut account.

Note: You will not be able to receive any of the earnings from the sale in any other manner.

Is Bitcoin Revolut Safe? 

Cryptocurrencies are not regulated by the  Financial Conduct Authority of the United Kingdom and therefore do not fall under the UK Financial Services Compensation Scheme or the UK Financial Ombudsman Service Institution.

Customers often ask, “Why does Revolut offer Bitcoin at a very low rate?” or “how many cryptocurrencies does Revolut have?”. To answer the former, Revolut streamlines the process of purchasing and selling cryptocurrency by removing all of the hassles involved with utilizing an exchange. To answer the latter, Bitcoin, Ethereum, Ripple, Solana, Cardano, and Decentraland are among the most popular cryptocurrencies available on Revolut. Revolut offers 61 different cryptocurrencies for purchase.

Conclusion

Now we have learnt “Does Revolut Accept Bitcoin?”, Revolut is a crypto-friendly bank that offers a variety of digital currency-related services. For a certain geographic region, the banking app employs a variety of features and strategies. Customers may purchase, trade, and withdraw bitcoins using the Revolut app.

FAQs 
  1. Can customers transfer Bitcoin to Revolut? 

Cryptocurrencies cannot be transferred outside the Revolut platform. External wallet. But Revolut is trying hard to bring this function to the future. 

  1. Can users pay in Bitcoin using a Revolut Card? 

No. Users cannot pay in bitcoin using the Revolut card payment method. This implies that if you use your Revolut card to make a payment and the only money you have is bitcoin, the transaction will fail.

  1. How does Revolut set the exchange rates?

Exchange rates of Revolut for buying and selling depend on Revolut according to the rate offered by the crypto exchange.

  1. Does Revolut payback for loss in cryptocurrency?

No, Revolut is not responsible for any loss regarding Bitcoins. 

Does Revolut Accept Bitcoin? -Know More

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