eToro or Revolut | Best Trading Platform To Invest In Crypto?
Jack Moreau
Apr 2024
9 min read
Fact checked
Are you torn between eToro vs Revolut as your preferred investment platform? Look no further as we have compared both in terms of features, fees, and accessibility. From stock trading to cryptocurrency investment, we've got you covered. Read on to find out which platform suits your investment needs.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
When it comes to cryptocurrency exchanges, eToro and Revolut are two popular platforms that offer a range of digital banking and financial services.
eToro was founded in 2007 by Yoni & Ronen Assia and with it's main office in Tel Aviv, Israel, and legal entities in the US, UK, Australia and Cyprus. It has over 30 million users and is available in 140 countries.
eToro exchange
While the platform offers a limited range of 80 cryptocurrencies, it is known for its innovative social trading features that enable users to follow and copy the trades of experienced investors.
The eToro app has been downloaded over 10 million times and has a 4-star rating based on over 100,000 reviews.
eToro app
On the other hand, Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko and is registered as Revolut Bank UAB in Vilnius, Lithuania.
It has over 25 million users and is available in over 60 countries across Europe, the US, UK, Australia, Singapore, and Switzerland.
Revolut crypto
Revolut is widely known for its innovative approach to banking, competitive fees, and extensive array of features.
The platform supports over 100 cryptocurrencies, including well-known ones such as Bitcoin, Ethereum, XRP, DOT, ADA, and ICP.
The Revolut app has been downloaded over 10 million times and has a fantastic 4.8-star rating based on over 2 million reviews.
Revolut app
While both platforms offer a range of financial services and support for cryptocurrencies, they differ in their approach.
eToro emphasises social trading and community-driven investing for 1000s of financial products, whereas Revolut focuses on innovative banking features with some crypto sprinkled on top.
eToro vs Revolut Signup & KYC
If you're looking to start trading on either eToro or Revolut, you'll need to go through their signup process and complete their KYC requirements.
Creating an account with eToro is a quick process that only takes a couple of minutes of your time. However, to start trading, you'll need to complete their KYC process.
eToro KYC
This involves providing personal information such as your country of residence and address, as well as a valid government ID. The verification process on eToro can then take maximum 1-2 business days before the account gets verified.
On the other hand, signing up for a Revolut Standard account is also quick and can be done in minutes through their mobile app. However, to create a bank account and use their services, you'll need to complete their KYC process.
This involves following the instructions provided by the app to verify your identity and proof of residence. Verification time on Revolut can be done as quickly as in 5-10 minutes up to a few hours in some cases.
eToro vs Revolut Products & Services
eToro stands out as a comprehensive trading platform specifically crafted to meet the nuanced needs of advanced traders. It seamlessly merges tools vital for in-depth research, granular analysis, and rigorous risk management.
The platform's asset portfolio is expansive with a vast array of over 3,000 financial instruments. Notably, traders have access to more than 3,200 stocks, featuring industry giants such as Apple, Tesla, Microsoft, and Amazon.
eToro Stocks
Beyond equities, eToro provides a diverse range of trading options from over 50 global currencies and 30+ commodities to an impressive lineup of 20+ indices. At the time of writing, commodities, currencies and indices are not available to users in the United States.
And while eToro offers CFD trading in France, Germany, Italy, the UK and other countries, U.S. users are not able to trade CFDs on eToro.
eToro indices
Cryptocurrency enthusiasts are not left behind either. eToro provides a gateway to the burgeoning crypto market with over 70 digital currencies like BTC, ETH, SOL, ATOM, DOGE, DOT and others.
eToro Cryptocurrencies
Additionally, those looking to diversify further can delve into the platform's selection of over 400 ETFs, highlighting household names like SPDR S&P 500 and Vanguard.
eToro ETF
Education is a strong pillar for eToro. The eToro Academy is a reservoir of knowledge, offering an extensive suite of trading courses, insightful webinars, and in-depth tutorials, all available free of charge.
eToro Academy
In terms of its technical offerings, eToro integrates with TradingView charts, a renowned tool that provides rich, real-time data, assisting traders in making informed decisions.
eToro Trading Tools
An interesting facet of eToro is its ability to cater to various risk appetites. Traders can opt to short assets, choosing from a range of leverage ratios, enabling them to harness potential downturns effectively.
The platform offers margin trading with leverage ratios spanning from 1:2 up to 1:30. And for traditional stocks, retail clients can leverage their trades by up to 5x.
For those who are either new to the world of CFD trading or wish to test the waters without financial implications, eToro's demo mode is invaluable. It equips users with a $100,000 virtual portfolio, allowing for a risk-free exploration of trading strategies.
eToro Demo Trading
One of eToro's flagship features is the CopyTrader. This innovative tool enables users to emulate the trading patterns of successful, vetted traders without any added fees.
eToro Copy Trading (Past performances are not an indication of future results)
Lastly, recognizing the rising prominence of NFTs (non-fungible tokens), eToro has marked its footprint in this domain through the Delta platform.
eToro NFTs
Here, users find an intuitive interface streamlining the entire NFT experience, from discovery and acquisition to sales and portfolio management.
On the other hand, Revolut offers users the ability to buy and sell over 100 cryptocurrencies, earn staking rewards on select cryptocurrencies, and use their spare change to buy cryptocurrencies or make purchases with cryptocurrencies in their wallet.
Revolut crypto
In terms of user experience, eToro's interface feels a bit outdated and can be confusing for beginners, while Revolut's interface is more modern and user-friendly.
However, it should be noted that eToro offers a wider range of products and services beyond just cryptocurrencies. Overall, eToro and Revolut offer different approaches to cryptocurrency products and services.
Etoro offers a more versatile platform for those looking to invest in a wider range of financial assets, while Revolut offers a simpler and more beginner-friendly approach with cryptocurrency products as an additional feature to their banking services.
When it comes to trading fees for buying and selling cryptocurrencies, eToro charges a 1% fee. This is a flat fee, which means that there are no discounts for high volume trading. For financial products such as stocks, eToro charge a 0% commission which is hard to beat.
Overall, eToro is the cheaper venue to buy, sell and trade cryptocurrencies compared to Revolut. While Revolut may be more suitable for occasional traders who prefer a simpler platform, that conveniance comes with a much higher price tag as well.
eToro and Revolut are two popular exchanges that offer different deposit methods for their users. Let's take a closer look at what each exchange has to offer.
eToro supports four fiat currencies including USD, EUR, GBP, and AUD, making it a great option for users from different parts of the world.
Users can deposit funds using bank transfers, PayPal, Skrill, Neteller, and Debit Card. The best part? All fiat deposits are free of charge on eToro, which is a huge plus for users looking to save some money. Conversion fee may however be applied as deposits are conducted in $.
On the other hand, Revolut is a bank that offers a convenient way for users to buy cryptocurrencies without having to deposit any funds.
Users can simply use the funds they have in their Revolut account to buy cryptocurrencies. However, the downside is that Revolut charges high fees, making it an expensive option for users who want to buy cryptocurrencies frequently.
eToro offers multiple withdrawal methods for both fiat and cryptocurrencies. For fiat withdrawals, users can withdraw their funds to their bank account or debit card. However, eToro charges a $5 withdrawal fee and fiat currencies besides USD are subject to conversion fees.
When it comes to cryptocurrency withdrawals, users can only transfer their crypto from the eToro investment platform to the eToro Money crypto wallet. eToro charges a very steep 2% fee for this transfer with a minimum cost of $1 and a maximum cap of $100.
On the other hand, Revolut doesn't support fiat withdrawals as it is itself a bank. However, users can withdraw cryptocurrencies from the app by paying the network fee plus a service fee on top which is added by Revolut.
The service fee charged by Revolut depends on the amount being withdrawn which is not great, as it means much higher fees than traditional crypto exchanges.
In summary, eToro is a broker that also offers crypto while Revolut is a banking app that now has gotten involved with cryptocurrencies as well.
While eToro offers a more versatile platform that allows users to invest in a wider range of financial assets, Revolut offers a simpler and more beginner-friendly approach with cryptocurrency products as an additional feature to their banking services.
When it comes to trading fees, eToro charges a flat fee of 1%, while Revolut charges a fee of 1.99%, which is too high for some basic convenience.
eToro currently offers support for 80 cryptocurrencies while Revolut supports 100 cryptocurrencies like Bitcoin, Ethereum and Solana.
Besides cryptocurrencies, users on eToro can also buy additional financial products such as stocks, commodities (not in the United States), currencies, indices and much more.
This can be done with different fees as for example stocks have a 0% commission on trades.
Ultimately, the choice between these two exchanges will depend on individual preferences and needs.
eToro is the better option for those who want access to a wide variety of financial products to invest in while Revolut is more convenient for it's existing users who don't mind paying higher fees.
Disclaimer
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured.
Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance.
luckyaltcoin.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
Signup to eToro and Get $10 Bonus (US Only) when you deposit $100! eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
