Revolut Cryptocurrency Review: Fees, Custody, and Control

Revolut is a popular banking app that also allows users to buy and hold cryptocurrencies. While it can be a convenient option for beginners, its suitability for long-term crypto holders depends on various factors such as trading fees, available cryptocurrencies, external withdrawals, custody, and the level of control desired over assets.

The app offers access to hundreds of cryptocurrencies, including major assets like Bitcoin, Ethereum, Solana, and Dogecoin. However, Revolut uses a custodial model, meaning that purchased crypto is held in a pooled virtual currency account, with Revolut maintaining an internal ledger reflecting the customer's crypto exposure.

Trading fees on Revolut start at 1.49% for Standard and Plus plans, decreasing to 0.99% for Premium and Metal plans, and 0.49% for Ultra. Withdrawal fees involve a network fee and a variable service fee, with the latter being £1 or £3 depending on the cryptocurrency.

Revolut provides security measures for its accounts and crypto services but warns users about the risks associated with high-volatility investments, including cyberattacks, financial crime, firm failure, and staking-related losses. For investors who want to control their own private keys, transferring supported assets to a self-custody wallet may be more suitable.