In this post I will teach you the process of how to transfer crypto from Revolut to Binance, which are two of the most popular exchanges for transferring cryptocurrency. This is a quick and simple tutorial that anyone looking to transfer their crypto from Revolut to Binance can follow.
The process will be broken up into three sections: how to log in, where your funds are stored, and how you initiate the transfer itself.
Revolut is arguably the most popular cryptocurrency exchange out there, though they don't trade any currency. They simply convert one fiat currency to another. You can transfer fiat money from your bank to your Revolut account, then make a trade that converts your USD or EUR into BTC/ETH or any of the other 8 crypto tokens listed on their platform.
Once you've made your trade and converted it into an altcoin, you can then transfer it over to Binance for actual trading. Binance is one of the major exchanges for trading cryptocurrencies like BTC and ETH.
So what you're doing is effectively transferring your fiat to your Revolut account and then converting that money into an altcoin. Then you transfer THAT altcoin over to Binance so it can be traded into Bitcoin, Ethereum, or whatever cryptocurrency you want.
I'm sure a lot of people are wondering why they should do this when they could just create an account on Binance and perform the trade directly there. The benefit of this method is that it's super simple and quick to move any amount of funds at any time with no minimums or other requirements like some exchanges have.
Most people I know who have switched over from Kraken or Coinbase to Revolut (because they have the fiat money stored there) are hating it because they have to trade the crypto into fiat first before transferring it over to Binance. I'm assuming because of Coinbase's very strict verification process and Kraken's bank transfer-only approach that there's no way they can just send/convert their money directly to Binance if you make a trade on Revolut, etc.
One last note: There aren't any hidden fees or costs with this. None at all. It's all free! Any transfer comes with zero fees or any chargebacks. It's all included in your monthly fee for using Revolut. There's a small (1%) markup on the exchange rates, but there are no hidden fees. They'll tell you exactly how much is going to be exchanged every time you make a trade so you know exactly what it costs.
To get started, just follow the steps below and we'll be done in 5-10 minutes!
Step 1: Sign Into Your Revolut Account CoinCap First, go to CoinCap.io and search for Bitcoin or any other cryptocurrency supported by Revolut. Follow the instructions to get a free digital wallet to store your funds in.
Step 2: Select your Cryptocurrency Next, make sure you've logged into your Revolut account. Click on the top left button labeled "Crypto" and then select the coin you'd like to trade for or transfer.
Step 3: Transfer Amount Withdrawal fee
If you'd like to include a withdrawal fee, then you'll simply have to add it under the "Withdrawal Fee" section at the bottom of that screen. If not, then there won't be a withdrawal fee charged with this transfer. But you do need to be aware that Binance typically charges 0.1-0.2% fees when you withdraw over a certain amount of currency. Revolut charges 0.5% on any withdrawal, including this transfer.
If you want to pay your Binance fees in BTC, ETH, or another supported coin then you can do that by selecting the option "Pay With Crypto" and entering the amount of BTC/ETH you'd like to use for the transfer fee. It's not usually worth it because Binance will likely charge more than 0.5%.
By default, Revolut will send your crypto to the address that is shown under "Crypto Address". You can change this by clicking the pencil icon to open up the form for you to enter an alternative address.
To start a transfer, fill out all of the required information including a description of what you're doing and when you'd like it to be completed. In most cases, I believe it's best to choose ASAP so that it's processed first in line.
Once this is complete, click "Confirm Withdrawal" and it should begin processing right away.
You'll probably receive a message like this:
Step 4: Accept and Submit Withdrawal Once your transfer is complete, return to the main screen of CoinCap and select the "Withdrawal" button. Binance will then automatically submit your withdrawal on their end and once approved you'll see that your funds are now available in your Revolut account.
Within approximately 10 minutes you should then see confirmation of the transfer. If this doesn't happen within 30 minutes, check back in and try again! Sometimes it can take a bit longer to get through, especially if it's triggered by another customer initiating a transfer at the same time.
Step 5: Trade Your Crypto for an Altcoin Now that you have your crypto stored in your Revolut account, you can transfer it over to Binance to trade it. The process is similar to the one above, but this time you'll need to provide the necessary information like a "Crypto Address" instead of a "Withdrawal Address".
Binance will then automatically submit your withdrawal on their end and once approved you'll see that your funds are now available in your Revolut account.
Within approximately 10 minutes you should then see confirmation of the transfer. If this doesn't happen within 30 minutes, check back in and try again! Sometimes it can take a bit longer to get through, especially if it's triggered by another customer initiating a transfer at the same time.
That's it! You're all set to start trading Altcoins with BTC, ETH, or another supported currency on Binance. I hope you found this tutorial helpful.
