How to Trade Crypto in the UK using Revolut X

Revolut X is a trading platform that allows users to buy, sell, and hold cryptocurrencies, including popular tokens like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). As a leading digital bank, Revolut X offers a secure and user-friendly platform for traders to invest in the cryptocurrency market. In this article, we will guide you on how to trade crypto in the UK using Revolut X.

Getting Started with Revolut X

To start trading crypto with Revolut X, you need to create an account with the platform. Here’s a step-by-step guide to get you started:

1. Download the Revolut X app from the App Store or Google Play Store.
2. Sign up for an account by providing basic information such as name, email address, and password.
3. Verify your account by providing identification documents, such as a passport or driver’s license.
4. Set up your account by linking your debit card or bank account for deposit and withdrawal purposes.

Buying Cryptocurrencies on Revolut X

Once you have set up your account, you can start buying cryptocurrencies on Revolut X. Here’s how:

1. Open the Revolut X app and log in to your account.
2. Click on the “Market” tab and select the cryptocurrency you want to buy.
3. Choose the amount you want to invest and the type of order you want to place (e.g., market order, limit order, etc.).
4. Confirm your order and the cryptocurrency will be deposited into your Revolut X account.

Selling Cryptocurrencies on Revolut X

To sell your cryptocurrencies on Revolut X, follow these steps:

1. Open the Revolut X app and log in to your account.
2. Click on the “Market” tab and select the cryptocurrency you want to sell.
3. Choose the amount you want to sell and the type of order you want to place (e.g., market order, limit order, etc.).
4. Confirm your order and the cryptocurrency will be withdrawn from your Revolut X account.

Using Stop-Loss Orders on Revolut X

A stop-loss order is a trading technique that allows you to automatically sell a cryptocurrency when it reaches a certain price level. This can help you limit your losses in case the market moves against you. Here’s how to use stop-loss orders on Revolut X:

1. Open the Revolut X app and log in to your account.
2. Click on the “Market” tab and select the cryptocurrency you want to set a stop-loss order for.
3. Choose the type of order you want to place (e.g., stop-loss order, take-profit order, etc.).
4. Enter the price level at which you want to sell the cryptocurrency (e.g., 10% below the current market price).
5. Confirm your order and the stop-loss order will be activated.

Using Take-Profit Orders on Revolut X

A take-profit order is a trading technique that allows you to automatically sell a cryptocurrency when it reaches a certain price level. This can help you lock in your profits in case the market moves in your favor. Here’s how to use take-profit orders on Revolut X:

1. Open the Revolut X app and log in to your account.
2. Click on the “Market” tab and select the cryptocurrency you want to set a take-profit order for.
3. Choose the type of order you want to place (e.g., stop-loss order, take-profit order, etc.).
4. Enter the price level at which you want to sell the cryptocurrency (e.g., 10% above the current market price).
5. Confirm your order and the take-profit order will be activated.

Conclusion

Trading cryptocurrencies on Revolut X is a straightforward process that can be completed in a few steps. By following the steps outlined in this article, you can buy, sell, and hold cryptocurrencies, as well as set stop-loss and take-profit orders to manage your risk. Remember to always do your own research and due diligence before investing in any cryptocurrency or trading strategy.

FAQs

Q: What cryptocurrencies are available for trading on Revolut X?

A: Revolut X offers a range of popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and more.

Q: How do I fund my Revolut X account?

A: You can fund your Revolut X account using your debit card or bank account.

Q: What fees do I need to pay for trading on Revolut X?

A: Revolut X charges a fee of 1.5% on all trades, as well as a flat fee of £0.50 per transaction.

Q: Is my cryptocurrency safe with Revolut X?

A: Yes, Revolut X uses advanced security measures, including 2-factor authentication and encryption, to protect your cryptocurrency.

Q: Can I use Revolut X to buy and sell fiat currencies?

A: Yes, Revolut X allows you to buy and sell fiat currencies, including GBP, EUR, and USD.

Q: What is the minimum and maximum amount I can trade on Revolut X?

A: The minimum amount you can trade on Revolut X is £10, and the maximum amount is £10,000.