Revolut finally added support for cryptocurrencies, and guess what…
I just received in my email the invitation for the beta version of the Revolut app, including exchange for Bitcoin, Litecoin and Ethereum.
I run to download it and give it a try. I just did a quick test and exchanged 20SGD (Singaporean dollars) to Ethereum, getting 0.0309219 Ethers. Immediately, I tried to change it back to SGD. Surprise! Those 0.0309219 Ethers were now worth 19.37SGD, instead of 20SGD.
A fee of a 3.15%!
Comparing it to other exchange fees (for example Kraken would have charged me 0.52% for the same operation), that is a lot.
- Is there any place where Revolut states how the cryptocurrencies exchange work, related to fees?
- Did you try to exchange from other FIAT, or to other crytocurrency? Which fees did you experienced?
I leave you here with screenshots of the operation: