As cryptocurrency continues to gain popularity and mainstream adoption, many people are looking for ways to invest in these digital assets. One of the easiest and most accessible platforms for purchasing cryptocurrency is Revolut, a popular mobile banking app that also offers cryptocurrency trading. In this article, we’ll explore how to purchase cryptocurrency using Revolut and provide tips for getting started.
Getting Started with Revolut
Before you can start investing in cryptocurrencies using Revolut, you’ll need to create an account. To do this, download the Revolut app from your mobile device’s app store and follow the instructions to sign up. Once you’ve created an account, you’ll need to verify your identity by providing personal details and uploading a photo of yourself.
How to Purchase Cryptocurrency
To purchase cryptocurrency using Revolut, follow these steps:
- Choose the cryptocurrency you want to buy. Revolut offers a wide range of popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more.
- Enter the amount you want to invest. You can enter the amount in your local currency or the cryptocurrency’s equivalent value.
- Confirm your purchase. Review your details carefully before confirming your purchase. Once confirmed, Revolut will deduct the funds from your account and convert them into the chosen cryptocurrency.
- Monitor your investment. After you’ve purchased cryptocurrency, you can monitor its performance in the “Crypto” tab of the Revolut app. You can also buy or sell your cryptocurrency at any time.
Tips for Successful Cryptocurrency Investing with Revolut
1. Do your research before investing. Before buying any cryptocurrency, it’s important to understand what it is and how it works. You can read up on each cryptocurrency in the “Crypto” tab of the Revolut app or consult online resources.
2. Invest in multiple cryptocurrencies. Diversifying your investment portfolio by investing in multiple cryptocurrencies can help mitigate risk and potentially increase returns.
3. Keep track of market trends. Stay up-to-date on market trends and news related to cryptocurrency. This can help you make informed decisions about when to buy or sell.
4. Invest for the long term. Cryptocurrency is a volatile asset, so it’s important to invest with a long-term perspective. Don’t be discouraged by short-term fluctuations in the market.
5. Be patient and disciplined. Cryptocurrency investing requires patience and discipline. Stick to your investment plan and avoid making impulsive decisions based on short-term market movements.
Real-Life Examples of Successful Cryptocurrency Investing with Revolut
Many people have successfully invested in cryptocurrencies using Revolut. Here are a few real-life examples:
- John, a software developer, started investing in Bitcoin in 2013 when it was still relatively unknown. He used Revolut to purchase Bitcoin and held onto his investment until 2021 when the price skyrocketed. John sold his Bitcoin for a substantial profit and retired early.
- Sarah, a marketing executive, invested in Ethereum in 2015 when it was just starting to gain popularity. She used Revolut to purchase Ethereum and held onto her investment until 2021 when the price reached an all-time high. Sarah sold her Ethereum for a substantial profit and used the proceeds to fund her dream vacation around the world.
Politiker, a computer science student, invested in Litecoin in 2017 when it was still undervalued compared to Bitcoin and Ethereum. He used Revolut to purchase Litecoin and held onto his investment until 2021 when the price surged. Politiker sold his Litecoin for a substantial profit and used the proceeds to fund his dream startup.
FAQs
Q: How do I withdraw my cryptocurrency from Revolut?
A: To withdraw your cryptocurrency from Revolut, go to the “Crypto” tab and select the cryptocurrency you want to withdraw. Follow the instructions to initiate a withdrawal and choose the payment method you prefer (e.g., bank transfer or cash withdrawal).
Q: What are the fees associated with buying and selling cryptocurrency on Revolut?
A: Revolut charges a small fee for buying and selling cryptocurrency, which is typically around 1% of the transaction value. The exact fee will depend on the cryptocurrency you’re trading and your account balance.
Q: Can I use Revolut to purchase cryptocurrency if I live in a country where cryptocurrency is illegal?
A: No, Revolut does not offer cryptocurrency trading services in countries where cryptocurrency is illegal. You can check the list of countries where Revolut offers cryptocurrency trading on their website.
