Since Bitcoin debit cards are in such high demand for spending Bitcoin online and in stores, people start looking for solutions beyond regular Bitcoin card providers. This post describes a less than obvious hack for cashing out Bitcoin we got in the comments to our Crypto debit card list.
Revolut is a fintech startup that gains worldwide popularity with elegant products – money transfer app, a prepaid card, money saving software and more.
They do not offer Bitcoin wallets tied directly to prepaid debit cards, but cryptocurrency traders still use their cards to cash out crypto.
Here’s how to transfer BTC to Revolut:
- You need to have your Bitcoin at an exchange that allows bank transfers. Coinbase, Bitstamp, Etoro, Gemini, Coinmama, Lykke, abucoins, gatecoin limited, plus500.com, Plusfivehundred, Plus500cy and lg are all whitelisted exchanges for this operation.
- Revolut assigns a EUR bank account once you sign up and verify, so you can withdraw your crypto from the exchange to your bank using the EUR IBAN & BIC at Revolit.
- Once the money is in your Revolut account you can move it to the prepaid debit card and use for POS purchases and ATM withdrawals.
This is obviously workaround that’s not convenient for everyone – but if you’re trading on any of the mentioned platforms Revolut could be what you need to cash out your earned Bitcoin.