Neobank Revolut was launched in the United States a few months ago. The startup is slowly catching up with the features available in the UK and Europe. This time Revolut is expanding cryptocurrency trading through a partnership with Paxos.
U.S. users can now buy, hold, and sell Revolut’s Bitcoin and Ethereum App. The feature will be available in 49 states due to some regulatory issues in Tennessee. If you have USD or other currencies in your Revolut account, you can exchange them manually at any time.
You can also set up notifications when important price changes occur. Optionally, users can round up card payments to the nearest whole dollar and convert small change into crypto assets.
If you are familiar with Revolut̵
When it comes to fees, users with a free Revolut account pay 2.5% of the conversion fees. Users with a Premium and Metal subscription pay 1.5% of the fees. Revolut waves in the first 30 days.
This is in line with the company’s current fees in Europe. Revolut also has some monthly money exchange limits, generally for free users – it can be fiat currencies or cryptocurrencies. You must pay a 0.5% fee above this limit or pay a subscription.
Revolut has recently made some changes to its cryptocurrency function. While you now technically own your cryptocurrencies, you cannot send and receive cryptocurrencies from third-party wallets. The function is all about trading – buying, holding and selling.
In the US, you can also buy cryptocurrencies in the respective app using the Square’s Cash app and Robinhood. Although these functions do not offer the same flexibility as a full cryptocurrency exchange, they make it easier to get started with cryptocurrencies.