eToro vs. Revolut: What’s Better for Crypto Trading?

Which of these two well-established trading platforms is top in this exciting head-to-head comparison? Which one of the two is the best trading platform for you? 

With so many trading platforms, choosing the right one can take time and effort. eToro and Revolut have been around for a while, share similar features, and appeal to a similar user base. Both also have millions of users, so which one should you choose? 

eToro was launched before Revolut, but is older necessarily better? Don’t worry; in this article, I’ll take you through a deep dive into each one, and by the end, you should have enough knowledge to guide you in your choice.

eToro vs. Revolut Overview

Let’s first look at each company’s history.

eToro for Crypto Trading

eToro was established in Tel Aviv, Israel, in 2007 by Yoni and Ronen Assia, but it has global offices in the US, UK, Australia, and Cyprus. 

Marketing itself as a “social” trading and investment platform, eToro has around 80 cryptocurrencies available to buy and trade, along with many traditional stocks and commodities (Apple, Tesla, Gold, Oil, etc). 

As of August 2023, eToro had 32 million users , trading in 70 countries.

Revolut for Crypto Trading

In contrast, Revolut came into existence in 2015, founded by  Nikolay Storonsky and Vlad Yatsenko; it is registered as Revolut Bank UAB in Vilnius, Lithuania.

Like eToro, Revolut offers trading in crypto, stocks, and commodities. It boasts over 100 cryptocurrencies. 

Revolut focuses on innovative banking features, including its famous Revoult card, accounts, and savings. Their crypto offering sits on top of this. 

As of June 2023, Revolut had over 30 million customers globally. While both platforms offer a considerable amount of cryptocurrencies for investment or trading, their offerings are relatively small, considering crypto data platform Coinmarketcap lists over 9,000 cryptos !

Note: when a well-known platform only has limited cryptocurrencies available, this usually reflects how well-vetted each crypto is. To me, this increases the trust I have in the platform.

Key Differences: eToro vs. Revolut

Now that we know more about each platform let’s dive deeper into each key area you should consider when choosing a crypto trading platform.

Fee Comparison 

Fees on platforms like eToro and Revolut are often higher than on centralized crypto exchanges like Binance and OKX ; however, the ease of use and the range of extra financial services more than make up for this, in my opinion.

• Revolut 
  • Trading fees: 1.99%
  • Withdrawal Fees: 0% (but only to your Revuto Bank account)
• eToro 
  • Trading fees: 1%
  • Withdrawal fees: 2%

Fees on eToro

eToro charges a flat 1% fee for both buying and selling crypto; this is included in the price you see before making your trade, so there are no nasty surprises once you are committed. There are no discounts for larger transactions.

Fees on Revolut

In contrast, Revolut charges a flat fee of 1.99% for all crypto transactions on its platform. While less than 1% more than eToro, the larger fee can be substantial on more significant trades.

Given that their fees are half the cost of Revolut, eToro wins regarding crypto transaction fees.

Withdrawal Fees

eToro charges 2% to withdraw fiat currencies to your bank account. As it is a bank, Revoult doesn’t charge withdrawal fees , but you can only withdraw your fiat currency to your Revoult account.

Revolut wins the withdrawal fee battle.

Deposit Methods

Neither of our two platforms would be of any help without a way of being able to use your fiat currency in the first place, so let’s look at their deposit methods.

Deposit Methods on eToro

eToro understands that convenient methods of depositing your fiat currency are important. They offer more deposit methods than Revout. Bank transfers are available but can take a few days. Credit/debit cards, Paypal, Skrill, and Klarna (amongst others) are the more immediate methods available.

Deposit Methods on Revolut

Previously, Revolut limited you to bank transfers, but Apple and Google Pay were recently added. The limited deposit methods seem to be because Revolut markets itself as an all-in-one financial solution, intending to keep all activities on its platform.

While Revolut has all the services you need in-house, eToro makes it easier for anyone to deposit funds to their platform. 

Based on this, eToro takes the win here.

Range of Crypto Available.

Both platforms offer a relatively limited number of crypto for trading (which isn’t bad; it means that all their offerings are well vetted). eToro offers around 80 cryptocurrencies, while Revolut offers slightly more at around 100. While numbers often change slightly, both platforms provide the most robust and well-known cryptocurrencies; you won’t find dodgy coins on either platform.

Despite the slight difference in the number of cryptocurrencies available, I will call this section a draw. For 99% of users, both platforms offer a like-for-like service in this department.

Signup and KYC Procedures

You must sign up and perform KYC (Know Your Customer) verification regardless of your chosen platform. This is nothing to worry about; KYC helps keep bad actors away.

The sign-up on both eToro and Revolut only takes around a minute or two and isn’t too taxing. The differences come with the KYC verification. 

You must have KYC verification completed before you can start trading.

If you’re unfamiliar with KYC verification, you must provide personal information (address, etc.) and a picture of your government ID. I used my driver’s license to compare them fairly on both platforms.

KYC verification on eToro took about a day and a half to come through, but Revolut only took a couple of hours. Both were done during business hours during the working week. 

Due to the speed of KYC verification, Revolut wins here.

Products and Services

This is where we see the real differences between the two platforms. 

I shall preface this section by saying that, in my opinion, eToro is much more suitable for those who want their first trading platform to have lots of investment opportunities. 

Revolut might be what you are looking for if you are starting to dabble in investments, as it seems to be a bank account with trading added as a product rather than its primary function.

If you are looking for a crypto trading platform that is easy to use, both are very similar; however, the ethos behind each platform differs.

If you seek a banking app from which you can trade crypto and take care of all your day-to-day banking services (savings, payment cards, etc.) Revolut wins.

However, eToro has been built from the ground up as a trading platform. As this article is titled “What’s better for crypto trading,” I have to give this section to eToro.

Unique Features

Again, I must remind you that each platform has a very different ethos; some interesting and valuable features come with each. Let’s have a look.

Unique Features on eToro

eToro’s strength comes from its position as a social trading platform; no other platform has such a large community of users. New investors and traders can learn from other, more experienced users using its most well-known and unique feature, the CopyTrader function. 

This tool enables users to emulate successful traders’ trading patterns for free. However, this can be confusing for users with limited investment knowledge. 

Note: Personally, I wouldn’t dive into your first investments by just copying someone else; always keep things simple and make investments or trades that you fully understand. 

The eToro Academy is a fount of knowledge containing articles, trading courses, and webinars designed to give even the greenest of users the knowledge needed to understand everything to do with trading. All free of charge!

eToro also integrates charts from the well-known trading data platform TradingView, providing real-time data that assists traders in making educated decisions when buying crypto and other assets.

Unique Features of Revolut

Revolut is an all-in-one banking solution. From debit cards to savings accounts to trading and insurance plans, if you are looking for a platform that can do it all, Revolut has you covered.

Revolut also offers under-18 accounts with built-in blocks for gambling and alcohol transactions. Great for parents who want to give their children a sense of autonomy while still having the ability to have control. Caveat: Crypto investing is not available for those under 18.

The standard plan is free, but four further subscription levels offer increasing benefits and perks.

Why Revolut is Better than eToro

Revolut keeps everything you need for your finances in one app. It is, at heart, a bank that does everything your high street bank does but with the addition of trading. If you want to use a platform where all your finances, including your crypto, are in one app, Revolut is the platform for you.

Why eToro is Better than Revolut

If you aim to learn about, invest in, and trade crypto, eToro should be where you go. Its social features, copy trading tool, and academy offer a head-and-shoulders experience above Revolut. Transaction fees on eToro are half that of Revolut, and, with the greater number of deposit options, eToro would be my pick for those users interested in making their first steps in investing and trading crypto.

Having used both platforms for some time now, I tap the eToro app whenever I invest, like picking up my favorite pair of shoes.

Revolut vs. eToro: Head-to-Head

It’s time to simplify things; let’s look at Revolut and eToro side by side. Here are the facts:

	eToro	Revolut
Founded	2007	2015
Users	32 million	30 million
Cryptos	80+	100+
Trading Fees	1%	1.99%
Withdrawal Fees	2%	0% (only to your Revolut account)
KYC Required	Yes	Yes
Deposit Options	Bank Transfers, Credit/Debit Card, PayPal, Skrill, Klarna, etc.	Bank Transfers, Apple and Google Pay
Unique Features	Copy Trading, Academy, Social Interactions, Trading View Charts	Banking Cards, Savings, Insurance
Tagline	Social Trading	All-in-one banking
Best For?	New and experienced traders looking for a strong trading platform with social media-like aspects	Users wanting to keep all financial products on one platform

On the Flipside

While eToro and Revolut are great products, many other options exist. If you are a more experienced trader, you may want to choose a centralized exchange like Binance, OKX, or Coinbase. If you are only interested in crypto and want an easy-to-use app, check out some centralized finance apps like Nexo and Swissborg.

Why This Matters

Understanding what each platform offers and who it is suited to more is critical when choosing a crypto trading platform. Diving into a platform without research is nearly as bad as buying crypto without knowing anything about it.

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