Can You Transfer Crypto from Crypto.com to Revolut?

The world of cryptocurrency is becoming increasingly interconnected, but the question many people still ask is whether they can transfer their crypto holdings between different platforms like Crypto.com and Revolut. While both platforms support cryptocurrencies, each has its own policies and restrictions that make it important to understand the process before attempting any transfers. In this article, we’ll dive into how (and if) you can transfer your cryptocurrency from Crypto.com to Revolut, the limitations you might encounter, and what steps you should take to ensure a smooth transaction.

Why This Matters

Imagine you've spent months accumulating Bitcoin or Ethereum on Crypto.com, and now you're interested in cashing out or using a multi-functional app like Revolut for spending. Revolut has grown into one of the most popular digital banks, especially because of its user-friendly interface and seamless integration with both fiat and crypto assets. But can you bridge the gap between Crypto.com and Revolut, and what obstacles might stand in the way?

Spoiler Alert: It's Not as Simple as You Think

If you’re hoping to directly transfer your cryptocurrency from Crypto.com to Revolut, here’s a heads-up: You can’t transfer crypto directly from one to the other as you would between traditional wallets. Instead, the process requires a few extra steps. This can be a bit disappointing, but with a little patience, you can still move your funds between these two platforms.

The Long Answer: What You Need to Know Before You Begin

Both Crypto.com and Revolut operate in unique ways, even though they both support cryptocurrency transactions. Here’s how each platform works with crypto:

Crypto.com: An All-In-One Crypto Powerhouse

Crypto.com is more than just a crypto wallet or exchange—it’s an entire ecosystem that allows users to trade, store, and even earn rewards on their crypto holdings. It has an extensive list of supported coins, along with features like staking, credit cards, and an NFT marketplace. When it comes to moving assets in and out of the platform, Crypto.com allows users to withdraw cryptocurrencies to external wallets.

Revolut: The Hybrid Fintech App

Revolut, on the other hand, started as a digital banking alternative offering low-cost international money transfers and exchange services. It added cryptocurrencies to its platform, but in a much more restricted manner. Revolut allows you to buy and sell crypto within the app, but it doesn’t allow users to send crypto to external wallets. Instead, it’s more like a “walled garden,” where crypto transactions are limited to within the app.

That’s where the first roadblock comes in: you can't send crypto directly from Crypto.com to Revolut.

So, What Are Your Options?

1. Cash Out and Transfer Fiat

One of the simplest ways to move your funds between Crypto.com and Revolut is by cashing out your crypto on Crypto.com and transferring the resulting fiat currency (USD, EUR, GBP, etc.) to Revolut.

Here’s how you can do it:

• Sell Your Crypto: On Crypto.com, go to your wallet and sell the amount of crypto you want to transfer. Make sure to sell it for a currency supported by Revolut, such as USD or EUR.
• Transfer Funds to Your Bank Account: Once you've sold your crypto, withdraw the fiat funds to your linked bank account.
• Transfer to Revolut: With the funds now in your bank account, you can then transfer the fiat currency to your Revolut account via bank transfer.

Pros:

• Straightforward process
• No direct crypto transfer limits to worry about

Cons:

• Transaction fees for selling crypto and withdrawing funds
• Potential delays depending on your bank’s processing times

2. Use a Crypto-to-Crypto Exchange as a Middleman

If you’re intent on keeping your funds in cryptocurrency and don’t want to cash out, you could use a third-party platform to act as a middleman. This involves sending your crypto from Crypto.com to another exchange or wallet that is supported by both platforms.

Here’s how this could work:

• Withdraw Crypto to an External Wallet: First, transfer your crypto from Crypto.com to an external wallet, such as Coinbase or Binance.
• Convert Crypto to Fiat on a Supported Platform: Once your funds are on an exchange that Revolut supports for fiat withdrawals, convert your crypto to fiat currency.
• Transfer Fiat to Revolut: Finally, withdraw the fiat to your bank account, and then transfer it to your Revolut account.

Pros:

• Retain your crypto holdings without selling them on Crypto.com immediately
• Multiple crypto exchanges offer faster withdrawal and deposit options

Cons:

• Multiple steps
• Higher fees due to transaction costs on both platforms

3. Use Crypto.com Visa Card for Spending in Revolut

A more creative, albeit indirect, method is to use the Crypto.com Visa Card. Crypto.com allows you to top up its Visa card with cryptocurrency. Once your card is loaded, you can use it to spend or withdraw funds from Revolut, as Revolut allows Visa card top-ups.

Here’s how:

• Top Up the Crypto.com Visa Card: Load your Crypto.com Visa Card with crypto funds.
• Use the Card in Revolut: Add the Crypto.com Visa Card to your Revolut account as a funding source. You can then top up your Revolut account directly from this card.

Pros:

• No need to sell your crypto directly
• Seamless integration for spending

Cons:

• Limited to how much you can top up and spend at a time
• Card transaction fees may apply

What to Watch Out for

1. Fees, Fees, and More Fees

Whenever you’re moving money, whether in crypto or fiat, between two platforms, fees can add up quickly. Crypto.com charges withdrawal fees when you move your crypto to an external wallet, and Revolut may charge you for certain types of fiat deposits. Be sure to calculate these fees before making any transfers to ensure you’re not losing a significant portion of your funds.

2. Timing Is Everything

Cryptocurrency markets can be highly volatile. Timing your transfer is crucial—whether you're converting to fiat on Crypto.com or using a middleman exchange. The price of Bitcoin, Ethereum, or other cryptos can fluctuate by the minute, potentially impacting the amount of money you end up with after fees and conversions.

3. Revolut’s Crypto Restrictions

It's important to reiterate: Revolut doesn’t allow crypto withdrawals to external wallets. This means that once your crypto is in Revolut, it stays there unless you cash it out. This restriction can limit your flexibility in using your crypto across platforms or in decentralized applications (dApps).

Conclusion: Is It Worth It?

The answer depends on what your end goal is. If you’re looking to use Revolut for its banking features and fiat spending capabilities, it might be worth going through the steps to transfer your funds. However, if you’re looking for seamless crypto-to-crypto transfers, Revolut’s current restrictions might feel too limiting.

Ultimately, the best approach is to weigh the fees, the complexity of the process, and your own financial goals. With a bit of planning, you can successfully transfer your funds from Crypto.com to Revolut, even if the platforms don’t make it easy.