Need help with my crypto

[Sp0ke]

Hello everyone! I'm really new to crypto and investing. I bought my first cryptos last year and currently owning only ETH but i'd love to know more about crypto and purchase BTC. I will learn a lot from this forum thats for sure and i'm willing to read a lot of threads. But first i'd like to ask should i keep buying crypto coins with my revolut account? If not , what do i do with the ETH i have on my account in Revolut?

Thanks in advance!

[1714648423]

1714648423

[OmegaStarScream]

Can you withdraw the funds from the account? If you can only buy/sell and transfer them to other Revolut users, then no, you shouldn't keep buying from there. Instead, use an exchange, and withdraw to your personal wallet.

[Sp0ke]

Can you withdraw the funds from the account? If you can only buy/sell and transfer them to other Revolut users, then no, you shouldn't keep buying from there. Instead, use an exchange, and withdraw to your personal wallet.

In Revolut i can only buy , sell and send crypto , i dont see an exchange option. So i should withdraw my crypto and invest them in an exchange crypto app ?

[OmegaStarScream]

In Revolut i can only buy , sell and send crypto , i dont see an exchange option. So i should withdraw my crypto and invest them in an exchange crypto app ?

Can you withdraw your crypto is what I'm asking. if you can withdraw or send your crypto to your personal wallet, then I don't see any harm in using them. But if they don't, then you should switch to a proper exchange instead. Sell your crypto to fiat, and use it to buy the coin you want in Coinbase for example, and then withdraw that to your personal wallet.

[Sp0ke]

Can you withdraw your crypto is what I'm asking. if you can withdraw or send your crypto to your personal wallet, then I don't see any harm in using them. But if they don't, then you should switch to a proper exchange instead. Sell your crypto to fiat, and use it to buy the coin you want in Coinbase for example, and then withdraw that to your personal wallet.

Sorry I'm not familiar with Fiat i dont know what it is. But My option in Revolut is only buy the crypto for euros , sell the cryptos for euros or send (maybe my crypto??) to a crypto wallet (it says add a crypto recipient / Transfer funds to an external crypto wallet)

[Sp0ke]

If i could transfer the crypto , i could use my ledger , to save crypto and slowly invest.

[vv181]

If you are storing your cryptocurrency funds on Revolut or any kind of exchange/platform, you do not technically control and own the cryptocurrencies. In order to store for large amounts and long term it is recommended to move your funds into the wallet that you control.

Having a hardware wallet, Ledger, in your case surely helped you to ease the burden of maintaining secure devices for the funds. I suggest you utilize it fully. Also, if you need resources to learn deeper about cryptocurrency and how to store it safely, Ledger has a wonderful source you can take a look at: https://www.ledger.com/academy.

[Sp0ke]

If you are storing your cryptocurrency funds on Revolut or any kind of exchange/platform, you do not technically control and own the cryptocurrencies. In order to store for large amounts and long term it is recommended to move your funds into the wallet that you control.

Having a hardware wallet, Ledger, in your case surely helped you to ease the burden of maintaining secure devices for the funds. I suggest you utilize it fully. Also, if you need resources to learn deeper about cryptocurrency and how to store it safely, Ledger has a wonderful source you can take a look at: https://www.ledger.com/academy.

Thank you sir! I got it and completely understand it. My only concern is if i want to buy more crypto or any other crypto with euros/usd , which platform should i use ? I know ledger has Ledger live , but a friend of mine has a Ledger for stocking and he's buying crypto from Kraken . He said that it was cheaper to buy from Kraken than Ledger Live that time. How can i know that or check that?

Another friend of mine uses only Binance for example.

I want to secure my crypto with the ledger wallet but i'd like more to know from which app to buy my crypto and then propably send them to my ledger?!?!

[vv181]

If you are storing your cryptocurrency funds on Revolut or any kind of exchange/platform, you do not technically control and own the cryptocurrencies. In order to store for large amounts and long term it is recommended to move your funds into the wallet that you control.

Having a hardware wallet, Ledger, in your case surely helped you to ease the burden of maintaining secure devices for the funds. I suggest you utilize it fully. Also, if you need resources to learn deeper about cryptocurrency and how to store it safely, Ledger has a wonderful source you can take a look at: https://www.ledger.com/academy.

Thank you sir! I got it and completely understand it. My only concern is if i want to buy more crypto or any other crypto with euros/usd , which platform should i use ? I know ledger has Ledger live , but a friend of mine has a Ledger for stocking and he's buying crypto from Kraken . He said that it was cheaper to buy from Kraken than Ledger Live that time. How can i know that or check that?

Another friend of mine uses only Binance for example.

Your current choice, Revolut, is not what most cryptocurrency users are using. Binance is the prominent one followed by Kraken. Both exchange and others have their own advantages and disadvantages, so you might research what suit you the best.

If your concern is the fee, note there might be a deposit fee and trading fee that you should be aware of when comparing each exchange.

For example, you can take a look at such information here:

Kraken: https://support.kraken.com/hc/en-us/articles/360030303832-Overview-of-fees-on-Kraken
Binance: https://www.binance.com/en/fee/fiatFee

[OmegaStarScream]

Thank you sir! I got it and completely understand it. My only concern is if i want to buy more crypto or any other crypto with euros/usd , which platform should i use ? I know ledger has Ledger live , but a friend of mine has a Ledger for stocking and he's buying crypto from Kraken . He said that it was cheaper to buy from Kraken than Ledger Live that time. How can i know that or check that?

Another friend of mine uses only Binance for example.

I want to secure my crypto with the ledger wallet but i'd like more to know from which app to buy my crypto and then propably send them to my ledger?!?!

Ledger Live seems to be using Moonpay[1] so I would imagine that they might be charging users a bit more.

As for your second question, then any decent exchange should allow you to withdraw your funds to your ledger or any other wallet. And from what I understood from your last post, that should also include Revolut. Now whether they charge more or fewer fees than other exchanges, I'm not sure.

In addition to Kraken, you should also look into Coinbase.

[1] https://www.ledger.com/academy/series/ledger-how-tos/how-to-buy-crypto-through-ledger-live

[Sp0ke]

Ledger Live seems to be using Moonpay[1] so I would imagine that they might be charging users a bit more.

As for your second question, then any decent exchange should allow you to withdraw your funds to your ledger or any other wallet. And from what I understood from your last post, that should also include Revolut. Now whether they charge more or fewer fees than other exchanges, I'm not sure.

In addition to Kraken, you should also look into Coinbase.

[1] https://www.ledger.com/academy/series/ledger-how-tos/how-to-buy-crypto-through-ledger-live

I appreciate all your effort to help me and clarify me question that keep bugging my head.
About fees , there are fees to buy BTC or Ether , sell them for Eur/USd and even transfer them to a wallet right ?

[blockman]

About fees , there are fees to buy BTC or Ether , sell them for Eur/USd and even transfer them to a wallet right ?

When you buy them, there's the spread and that's considered by many as the fees. As for the transfer, it depends to the exchange or platform where you'll be doing that.
Some may have a bit of fee and some are free to do so but don't you worry, when you withdraw that from any platform, it's not going to cost you that much.
But the problem today is that the mempool is quite clogged and expect a couple of bucks could be the calculation for the transfer fees.

[OmegaStarScream]

I appreciate all your effort to help me and clarify me question that keep bugging my head.
About fees , there are fees to buy BTC or Ether , sell them for Eur/USd and even transfer them to a wallet right ?

The user above has already answered the question but if your goal is to eliminate as much fees as possible then going with P2P platforms might be best.

You should use something that has free transfers, like Wise or Revolut. Add to that the free escrow fees that Binance and some other providers have... you will then end up only paying withdrawal fees.

[Sp0ke]

When you buy them, there's the spread and that's considered by many as the fees. As for the transfer, it depends to the exchange or platform where you'll be doing that.
Some may have a bit of fee and some are free to do so but don't you worry, when you withdraw that from any platform, it's not going to cost you that much.
But the problem today is that the mempool is quite clogged and expect a couple of bucks could be the calculation for the transfer fees.

Thank you very much!!!

[blockman]

When you buy them, there's the spread and that's considered by many as the fees. As for the transfer, it depends to the exchange or platform where you'll be doing that.
Some may have a bit of fee and some are free to do so but don't you worry, when you withdraw that from any platform, it's not going to cost you that much.
But the problem today is that the mempool is quite clogged and expect a couple of bucks could be the calculation for the transfer fees.

Thank you very much!!!

Sure thing.
I believe that the purpose of the thread has been served and you've got answers already, now it's time for you to lock this thread if you've got no more any questions.
If you still got some in the future and if it's still related to this topic, you can unlock and re-open it.