Selling Crypto on Revolut:
- Ease of Selling: Revolut makes it straightforward to sell your crypto holdings. You can sell directly within the app by selecting the cryptocurrency, choosing how much you want to sell, and confirming the transaction.
- Conversion to Fiat: Once you sell your crypto, the funds are converted into the fiat currency of your choice (e.g., USD, CHF) and deposited directly into your Revolut account.
- Transferring Funds: After converting your crypto to fiat within Revolut, you can easily transfer those funds to any bank account, including Swiss banks, Wise, or another account. The process is quick, often taking just a few minutes to complete the transfer.
Selling Crypto on Coinbase:
- Ease of Selling: Coinbase also offers a user-friendly interface for selling crypto. You simply go to the “Sell” tab, select the cryptocurrency you want to sell, and choose the amount. The platform will convert your crypto into fiat currency (USD, EUR, etc.).
- Conversion to Fiat: After selling your crypto on Coinbase, the fiat currency equivalent is credited to your Coinbase account. You can hold it there or withdraw it to a linked bank account.
- Transferring Funds:
- To a Swiss Bank Account: You can withdraw the converted fiat funds from Coinbase to your Swiss bank account via a SEPA transfer (for EUR) or SWIFT transfer (for other currencies). The withdrawal process typically takes a few business days.
- To Wise or Revolut: You can also transfer funds from Coinbase to accounts like Wise or Revolut. Wise supports various currencies and is known for lower transfer fees, while Revolut can quickly receive transfers once the funds are in your Coinbase account.
Comparison and Considerations:
- Revolut: The process is more integrated and quicker if you want to convert crypto to fiat and use the funds immediately, all within the same app. However, the limitation is that you can’t transfer your crypto to an external wallet.
- Coinbase: Offers more flexibility, allowing you to withdraw funds to different accounts and giving you control over where you store your crypto. It’s also more widely recognized in the crypto space. The process may take a bit longer, especially for international transfers, but you gain more control over your assets.
In summary, Revolut is great for simplicity and speed, while Coinbase offers more control and flexibility for managing your crypto assets.
