I haven't had plastic in my wallet since 2014 so I am a little bit excited in this moment to be clutching a card which permits me to hold BTC, ETH & LTC in a 'bank account' where it is instantly exchangeable and accessible as cash at an ATM or as an online transaction... and all without crazy fees or exchange rates.
Revolut is a unique service claimed to be 'better than a bank account' because it offers free international transfers and no fees for ATM withdrawals (up to a certain amount). It also permits you to spend your money abroad with no fees.
There are other unique features designed to help organise and save money, but these don't interest me. What interests me is the crypto feature.
Why is Revolut great?
I can exchange my BTC, ETH or LTC with 25 fiat currencies at the best possible exchange rate. This is perfect for me as a traveller because now I will have easy access to the local currency wherever I go.
It took just ten minutes to set up the account with no proof of address required and the card arrived in three days.
The basic account is free so I set up one for my partner Sabrina too.
For those situations when I am not with Sabrina and I need to get her some money, I now have an easy way of transferring her crypto or fiat with low fees & fast transaction times.
It has a simple mobile app from which you can manage your account which is easy to use even for those who have zero experience with crypto.
Why is Revolut not great?
I cannot transfer crypto in or out of the Revolut wallet/account. To buy crypto I must first transfer fiat to my Revolut account from another bank. They are planning on implementing better crypto connectivity soon but no details are given on exactly how soon.
I am limited to €400 a month ATM withdrawals before I start getting charged withdrawal fees.
The premium account (which is what I need) is costing me €8 per month.
This is what arrived this morning
Pull on the black strap and the other side opens up to reveal the card. I have blocked out the name coz while you guys may think you know my name... maybe you don't ;)
All in all it is a really neat package, the kind of thing that ends up lying around the house for a few months before finally making it to the recycling bin.
Two Options
I went for the premium account because the free withdrawals up to €200 a month in the standard option was not enough. €400 seems more realistic. And now I have overseas medical insurance, not that I ever need it ;)
So... it's time to take this baby for a test run!
If anyone happens to know of a company which does provide the full crypto connectivity I am looking for I would be most grateful if you could let me know.
Who is @samstonehill?
He is travelling with his partner & two children and with no bank account he has been living on STEEM & crypto for over a year.
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