Revolut vs Crypto.com | Where Should Beginners Buy & Sell?
Jack Moreau
Feb 2024
8 min read
Fact checked
Revolut vs Crypto.com: If you're looking for a crypto exchange, you've probably heard of these two platforms. But which one is the best for you? We compared Revolut and Crypto.com on factors like fees, security, customer support, and more. Keep reading to find the perfect exchange for your needs!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Revolut and Crypto.com are two popular companies with one being a well known fintech startup and the other being one of the biggest exchanges in the world.
Revolut is a neobank that was founded in 2015 in London, UK. It has grown to over 7,000 employees and is available in over 60 countries, including Europe, the US, UK, Australia, Singapore, Japan, and Switzerland.
Revolut crypto
Revolut offers a range of digital banking and financial services through its mobile application, including support for over 100 cryptocurrencies such as Bitcoin, Ethereum, XRP, DOT, ADA, ICP, and many others.
Revolut app
Crypto.com, on the other hand, was founded in Singapore in 2016 and has over 4000 employees. It is available in 180 countries including the United States with derivatives and margin trading restricted in Cyprus, Czech Republic, and Denmark.
Crypto.com exchange
The platform offers a comprehensive suite of financial services, including spot and margin trading, staking, lending, wallet services, and much more. It supports over 250 cryptocurrencies, including Bitcoin, Ethereum, and more.
Crypto.com app
While both Revolut and Crypto.com offer support for a range of cryptocurrencies and have a large user base, they differ in their approach to crypto.
Revolut's focus is on digital banking and financial services, with support for a range of cryptocurrencies as an additional feature.
Crypto.com, on the other hand, is a dedicated cryptocurrency exchange with a comprehensive suite of financial services tailored to the needs of the crypto community.
Revolut vs Crypto.com Signup & KYC
Revolut and Crypto.com are two popular platforms for buying and selling cryptocurrency. The signup process for both platforms is relatively quick and simple.
To sign up for Revolut, users need to download the app and follow the instructions provided. KYC is mandatory on Revolut and no user can create a bank account without getting verified.
Users will need to verify their identity and provide proof of residence among other things, which can be done in as quickly as 5-10 minutes.
On the other hand, creating an account on Crypto.com takes quite a bit of time as users need to provide an email and password to signup. KYC is then required for all trading and any additional services on Crypto.com.
Crypto.com Signup
Similar to most other exchanges, the KYC process on Crypto.com requires that users to provide their full legal name, country of residence, address and a valid picture of a government-issued ID.
Once all the documents have been submitted, it can take Crypto.com a few hours (best case) to verify the account but in some cases, the waiting time can be 1-2 business days.
So unless you already have a Revolut bank account, the quickest ways to begin buying cryptocurrencies is to signup to an exchange like OKX, Binance or Crypto.com.
Revolut vs Crypto.com Products & Services
The respective product offering of Revolut and Crypto.com differ significantly in terms of the services they offer to their users.
Revolut offers basic buying and selling of over 100 cryptocurrencies, staking rewards for 4 cryptocurrencies, and a "Learn and Earn" program for users to learn about cryptocurrencies and earn tokens.
Revolut cryptocurrencies
Revolut also allows users to use their spare change to buy cryptocurrencies or buy items in the real world with cryptocurrencies in their wallet.
Revolut's user experience for buying and selling cryptocurrencies is alright, but crypto is simply an additional feature in their banking app and not the main focus.
Revolut crypto vaults
On the other hand, Crypto.com has blossomed into one of the world's largest cryptocurrency exchanges largely thanks to its aggressive marketing strategies in the United States and Europe.
Central to Crypto.com's offerings is spot trading where users can easily buy and sell over 290 of the most popular cryptocurrencies.
Crypto.com Spot Trading
In addition to spot trading, Crypto.com provides margin trading, allowing users to take leveraged positions in well-known cryptocurrencies like BTC (Bitcoin) and ETH (Ethereum), with leverage going up to 5X.
Crypto.com Margin Trading
For the more seasoned traders who want to trade derivatives, Crypto.com has significantly expanded its offering with over 100 perpetual and quarterly futures, with the option of up to 20X leverage.
Automated trading is another feature that Crypto.com offers, catering to those who prefer a more hands-off approach.
Crypto.com Trading Bots
The platform currently supports three types of trading bots: grid, Dollar-Cost Averaging (DCA), and Time-Weighted Average Price (TWAP), each designed to suit different trading styles and objectives.
Crypto.com's trading volumes, though substantial, are not among the highest in the industry. Currently, the platform ranks within the top 30 for both 24-hour spot and derivatives trading volumes, each amounting to approximately $1 billion.
Beyond trading, Crypto.com also ventures into financial products, including earn and staking options. Users have the opportunity to earn interest on over 20 digital assets, such as BTC, ETH, ADA, DOT, SOL, ATOM, and USDT.
Crypto.com Earn
Be aware however that the interest rates offered by Crypto.com are not as competitive as those available on other exchanges.
Crypto.com Staking
Similarly, when it comes to staking rewards, users will find more attractive returns by staking their assets directly on the respective blockchains.
For enthusiasts of NFTs and digital collectibles, Crypto.com presents an exciting marketplace with hundreds of collections available, including popular ones like Bored Apes and Pudgy Penguins.
Crypto.com NFTs
These collections are hosted on various blockchains such as Ethereum, Polygon, Solana, and Cronos Chain, offering a diverse range of options for NFT collectors and traders.
Crypto.com has also developed its own non-custodial wallet that allows users to store, trade, and earn on their cryptocurrencies giving them full control over their assets.
Crypto.com Web 3 Wallet
The DeFi wallet from Crypto.com is accessible in multiple formats, including as a desktop wallet, a browser extension, and a mobile application.
For the more affluent individuals and institutional clients, Crypto.com caters to their specific needs with a dedicated Over-The-Counter (OTC) section.
Crypto.com OTC
Here, they can place large orders ranging from a minimum of $50,000 to a maximum of $5,000,000 with competitive rates.
That's up to 20 times higher than exchanges like Binance, OKX, and Bybit. Unfortunately, there are no discounts for high volume trading, which means everyone pays the same fee.
Crypto.com offers much more competitive fees, with a spot maker and taker fee of just 0.075%. That's over 26 times lower than Revolut! For futures trading, Crypto.com charges a maker fee of 0.017% and a taker fee of 0.034%.
Crypto.com spot fees
Plus, like many other exchanges, trading fees on Crypto.com can be lowered if monthly trade volumes exceed $250,000 or if users hold at least 1000 CRO tokens.
Overall, if you're looking for lower trading fees, Crypto.com is the clear winner between these two exchanges.
When it comes to depositing fiat currencies on Revolut, users don't actually need to make a deposit as Revolut is a bank and users can simply use the funds that they already have to buy cryptocurrencies.
This is a convenient option for users who are already using Revolut for their day-to-day banking needs.
For those that are using Crypto.com, the only fiat currency available to deposit is USD via wire transfer.
However, the good news is that there are no deposit fees for either wire transfer or USD bank transfer.
Users can also make instant purchases with credit/debit cards via MoonPay, Banxa, Advacash and Simplex. The downside is that the credit card fees can be quite expensive, ranging from 2-5% transaction fees.
In terms of ease of use, Revolut comes out on top as users who already have Revolut don't need to make a separate deposit and can simply use the funds they already have.
Revolut and Crypto.com are two popular exchanges that offer different withdrawal methods to their users.
Revolut is a digital bank that allows users to withdraw cryptocurrencies from their app. However, users have to pay the network fee plus a service fee charged by Revolut.
The service fee depends on the amount being withdrawn, which can result in higher fees compared to traditional crypto exchanges.
In contrast, Crypto.com allows fiat withdrawals only for USD via bank transfer, and there are no fees for USD bank withdrawals.
For cryptocurrency withdrawals, Crypto.com charges a fee of 0.0001 BTC, 0.04 ETH, 0.03 SOL, and 10 USDT.
So while Revolut users with the convenience of using their banking app don't need to withdraw fiat currencies, Crypto.com has lower fees for cryptocurrency withdrawals than Revolut.
This is another reason why it's costly to buy, sell and withdraw cryptocurrencies from Revolut.
While Revolut is primarily a digital bank that offers cryptocurrencies as an additional feature, Crypto.com is a dedicated cryptocurrency exchange with a comprehensive suite of crypto services.
Both platforms prioritize security and require their users to go through the KYC process before they can begin trading.
In terms of user experience, Crypto.com comes out on top as it offers more products, services, and competitive fees for trading.
Additionally, Crypto.com has better liquidity and leverage options for those looking to trade more actively.
However, Revolut is more convenient when it comes to depositing fiat currencies as users don't actually need to make a deposit and can simply use the funds they already have.
It's clear that Revolut if a convenient way to buy cryptocurrencies for existing Revolut customers who don't mind paying high trading and withdrawal fees.
For users who want to maximise their return of their investments, they will need to signup and buy cryptocurrencies from lower cost options such as OKX, Binance or Crypto.com
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
