How To Deposit Crypto From Other Exchanges (Binance, Coinbase etc.) To Revolut?

August 10, 2023

With the surge in cryptocurrency adoption, many are seeking platforms that seamlessly integrate traditional banking with digital assets. Revolut stands out as a leading contender in this space, offering a myriad of financial services. But how does one go about the Revolut crypto deposit process?

And what should users know about the intricacies of making a Revolut deposit with crypto? Dive into our comprehensive guide to discover the steps on how to deposit crypto to Revolut and ensure a smooth transition between your digital and fiat assets.

Quick summary:

📜 Content	Details
📱 Revolut Overview	Revolut is a digital app akin to a bank. It functions like Paypal but acts as your credit card. Users can open an account, deposit money, and use it through various card options.
🚫 Crypto Deposit Limitation	It’s currently not possible to send coins from exchanges like Binance to Revolut as they don’t have a crypto wallet. Revolut is reportedly working on this feature, but no release date has been announced.
🛍️ Usage and Benefits	Revolut offers a seamless banking experience for crypto users. It operates in the fiat domain but also allows crypto purchases. Users can manage their finances without needing to constantly convert cryptos to fiat.
🚧 Issues	Users cannot deposit crypto purchased elsewhere into Revolut. While the company is “actively working” on this feature, it’s not available yet. There are also limitations based on the user’s country.
🇺🇸 USA Users	For US citizens, Revolut offers access to over 800 stocks, multiple cryptocurrencies, precious metals, and other assets. It consolidates various financial needs into one app. However, those primarily interested in crypto or from unsupported nations might need to look elsewhere.
🔚 Conclusion	While Revolut offers unique features, it’s not the only platform doing so. Those looking to deposit cryptos into Revolut might need to explore other options.

REVOULT OVERVIEW

Revolut is a digital app that provides most things a bank could provide. Imagine Paypal, but instead of connecting it to your credit card, it IS your credit card. You open an account, put your money in it, and you start using it. From virtual to debit to credit cards they offer multiple options.

Right off the bat, it is not possible to send coins from Binance or any other crypto exchange to Revolut as they don’t have a crypto wallet at all. The company claims it is working on it but no official release date of their native crypto wallet has been set.

You can use their app and pay for regular subscriptions from your account with great cashback bonuses as well. You can earn interests, invest in multiple different assets, and even connect your bank/investment accounts in the Revolut app.

This unique but also the common approach of Revolut allows it to be a perfect banking experience for crypto users. It works in the fiat world, but also allows you to purchase crypto as well. This way you can continue your crypto life, without fiat payments disturbing your flow.

⚡️ If you are sick and tired of constantly going to your exchange, turning your cryptos to fiat, then withdrawing it to your bank account and using your card just to pay for a coffee, or just cash out of crypto a bigger amount just in case, well then you came to the right place. With Revolut, you could have all of it in just one account and do not need to cash out of crypto anytime you need to pay for something.

This of course comes with a bad problem Revolut has, unable to deposit crypto that you purchased somewhere else. If you want to, you could deposit fiat, and then buy crypto in your Revolut account, but you can not deposit crypto you have in places like Binance into your Revolut account. If you want to read what Revolut said about this, you can check this post they created.

They mention that they are “actively working” on it, but for the time being it is not possible to do so. There are other issues as well such as the limited number of countries you can use it for, USA citizens could use it with ease, and you can use it anywhere else in the world as if it is an account from the USA, but it would not be working for your own fiat for most nations.

👉 If you are from the USA, want to have access to 800+ different stocks, many cryptocurrencies, gold, silver, and all kinds of assets that you could invest, pay for your bills, pay for subscriptions, have cashbacks, and all-around collect every single financial need in just one app, then Revolut is the place for you. If you are only interested in crypto, or not from a nation Revolut supports, maybe you can check another place that may fill your need.

Conclusion

Revolut is not doing something nobody else does, but it also has a unique approach to doing the same thing. Unfortunately, if you are looking to deposit your cryptos into Revolut, then you should start looking into other places.