How to Buy Bitcoin on Revolut: A Step-by-Step Guide

Buying Bitcoin on Revolut is a straightforward process, but it involves several steps to ensure that you complete the transaction securely and efficiently. This guide will walk you through the entire process, from setting up your Revolut account to purchasing Bitcoin and managing your investment. Follow these steps to get started with buying Bitcoin on Revolut.

Step 1: Download and Set Up the Revolut App

To begin, you'll need to download the Revolut app from the App Store (for iOS devices) or Google Play Store (for Android devices). Once downloaded, open the app and follow these steps:

1. Create an Account: Tap "Sign Up" and enter your mobile number. You'll receive a verification code via SMS. Enter the code to proceed.
2. Verify Your Identity: Revolut requires identity verification to comply with regulatory requirements. You'll need to upload a photo of your ID (such as a passport or driver's license) and a selfie for facial recognition.
3. Add a Payment Method: Link your bank account or add a credit/debit card to fund your Revolut account. This step is essential for buying Bitcoin as you need to have funds available.

Step 2: Fund Your Revolut Account

Before you can buy Bitcoin, you'll need to deposit funds into your Revolut account:

1. Go to the "Accounts" Tab: Open the Revolut app and navigate to the "Accounts" tab.
2. Add Funds: Choose the option to add funds. You can transfer money from your linked bank account or use a credit/debit card.
3. Verify the Deposit: Ensure that the funds are reflected in your Revolut account before proceeding with the Bitcoin purchase.

Step 3: Navigate to the Cryptocurrency Section

Revolut allows you to buy Bitcoin through its built-in cryptocurrency exchange:

1. Open the "Invest" Tab: On the app’s main screen, tap on the "Invest" tab.
2. Select "Cryptocurrencies": Scroll to the cryptocurrencies section where you will find a list of available digital currencies.
3. Choose Bitcoin: Tap on Bitcoin (BTC) to access the trading interface.

Step 4: Buy Bitcoin

With your account funded and the Bitcoin trading interface open, you can proceed with the purchase:

1. Enter the Amount: Specify how much Bitcoin you want to buy. You can enter the amount in Bitcoin or in your local currency.
2. Review the Transaction: Check the transaction details, including the amount of Bitcoin you will receive and the associated fees. Revolut charges a fee for buying cryptocurrencies, so ensure you're aware of this before confirming.
3. Confirm the Purchase: Tap the "Buy" button to complete the transaction. You may need to authenticate the purchase using a PIN or biometric verification.

Step 5: Manage Your Bitcoin Investment

After purchasing Bitcoin, you can manage your investment directly within the Revolut app:

1. Check Your Holdings: Go to the "Cryptocurrencies" section to view your Bitcoin balance and other holdings.
2. Monitor Market Trends: Revolut provides real-time market data, allowing you to track Bitcoin’s price and performance.
3. Sell or Transfer Bitcoin: If you decide to sell your Bitcoin or transfer it to another wallet, you can do so through the app. Select Bitcoin, choose the option to sell or transfer, and follow the instructions.

Step 6: Secure Your Account

Security is crucial when dealing with cryptocurrencies. Here are some tips to secure your Revolut account:

1. Enable Two-Factor Authentication (2FA): Go to the security settings in the app and enable 2FA for an added layer of protection.
2. Regularly Update Your App: Keep the Revolut app updated to benefit from the latest security features and improvements.
3. Be Cautious with Your Information: Avoid sharing sensitive information or accessing your account from unsecured devices.

Conclusion

Buying Bitcoin on Revolut is a user-friendly process that can be completed in just a few steps. By following this guide, you can ensure that your purchase is smooth and secure. Always stay informed about cryptocurrency trends and manage your investments wisely.