Nikolay Storonsky and Vlad Yatsenko’s brainchild, Revolut, continues to grow tremendously in its bid to improve global remittance and peer-to-peer payment. Based in the UK, Revolut is widely known for its multi-currency service, offering access to asset transfer and saving globally.
Since its launch in 2015, Revolut has been a financial super app, offering a wide range of financial instruments and solutions, including cryptocurrencies. Despite being a surprising player in the crypto space, Revolut features a lot of cutting-edge perks aimed at making crypto trading and investment super easy and seamless.
Transferring crypto assets from Binance or other crypto exchange platforms to Revolut is usually nerve-wracking. This is because Revolut supports in-platform peer-to-peer crypto transfer.
However, the platform rolled out support for receiving crypto assets from external crypto exchange platforms or wallets in August 2023. This way, anyone can easily transfer crypto assets from external wallets and exchanges to the platform.
Since the update is new, few Revolut users know how to transfer their crypto assets from Binance and other CEXs or wallets to Revolut. Fortunately, this guide will take you through how to easily transfer fiat and crypto assets from Binance to Revolut. Let’s get started.
Method 1: Steps to Transfer Fiat from Binance to Revolut
Withdrawing your fiat from Binance to Revolut is the easiest way to transfer your assets out of Binance to your Revolut account.
To do this, you only have to transfer your crypto asset from spot wallet to P2P wallet on Binance. Then, link your Revolut bank details to the P2P marketplace before selling your crypto assets for fiat on Binance P2P.
Here’s a step-by-step guide on how to transfer fiat from Binance to Revolut using Binance P2P:
- Transfer crypto assets to P2P wallet in Binance
- Copy Revolut Bank Details
- Add Revolut bank details to Binance P2P
- Initiate sell order
- Complete P2P trade
Transfer crypto assets to P2P wallet
To get started, go to Binance at www.binance.com on your web browser. On the homepage, click on LOG IN from the top right corner.
On the login page, input your email address/phone number, and account password. Complete login by verifying your email address with the six-digit verification code sent to your login details.
Once you’re in, click on WALLET > FIAT AND SPOT.
Review the assets available in your wallet and click on TRANSFER from the option in the upper navigation bar.
Choose FUNDING as the destination wallet and select the asset you’d like to sell in the Binance P2P.
Specify the amount of asset you’d like to transfer and tap CONFIRM TRANSFER afterward.
Copy Revolut Tag
Before using the Binance P2P, add your Revolut deposit details (deposit tag) to the marketplace. This way, you can exchange your crypto assets for fiat that will be deposited into your Revolut account.
To do this, go to www.revolut.com on your web browser. Click on LOG IN from the top right corner of the home screen.
Enter your Revolut registered phone number and then your account password. Complete two-factor authentication to verify your login.
From the Revolut home screen, go to your REVOLUT PROFILE and copy REVTAG.
Add Revolut bank details to Binance P2P
After getting your Revolut bank details, it’s time to add them to your Binance P2P. Go back to Binance and tap TRADE > P2P.
From the P2P marketplace, click on MORE and choose PAYMENT METHODS.
To add your REVOLUT account, click ADD A NEW PAYMENT METHOD > MORE.
Scroll down and look for Revolut in the drop-down list, or filter out REVOLUT with the SEARCH bar.
Enter your REVTAG in the first field and your Revolut phone number in the second field. Click on CONFIRM and approve the action via your two-factor authentication setup.
Initiate sell order
Go back to the Binance P2P marketplace and switch to the SELL tab. Select any asset you’d like to sell from BTC, BNB, SOL, DAI, ETH, BUSD and FDUSD.
Input the amount of cryptocurrency you want to sell and select the preferred payment method as REVOLUT.
From the available results, choose any ad with an excellent trading record, especially an ad with an over 90% completion rate.
Also, ensure the ad’s trading range does not exceed your trading amount. For instance, if you’re selling $1000 worth of USDT, the ad’s limit must be within that range.
To initiate the order, input the specific amount of crypto assets you’d like to sell and click on SELL.
Complete P2P trade
After clicking on SELL, a new order with the status PENDING PAYMENT will be opened. You can use the CHAT button to contact and communicate with the buyer.
Once the buyer makes payment to your Revolut, the order status will change to RELEASE CRYPTO TO THE BUYER.
Open your Revolut account and refresh your account balance. Ensure you confirm the payment receipt before clicking on PAYMENT RECEIVED.
Finally, complete 2FA to confirm that the transaction is complete.
Method 2: Steps to Transfer Crypto Assets from Binance to Revolut
Although Revolut supports trading over 80+ crypto assets, depositing crypto aside from an external crypto wallet is available for a limited number of assets. Therefore, it is important to check if the crypto asset you want to transfer from Binance has the DEPOSIT option.
To transfer crypto assets from Binance to Revolut:
- Copy your deposit address from Revolut
- Log in to your Binance Account
- Complete asset transfer
Copy your deposit address from Revolut
As mentioned earlier, ensuring that the crypto asset you want to transfer from Binance has a RECEIVE option on Revolut is important.
Sending crypto assets to the wrong address or crypto network can result in permanent, irrecoverable loss.
To find your deposit address, open your Revolut app. From the homepage, navigate to the CRYPTO section and click on RECEIVE.
Select the cryptocurrency you’d like to receive from the available options, then copy the deposit address.
Log in to your Binance Account
Once you’ve copied the deposit address, it’s time to complete the transfer on Binance. Go To Binance at www.binance.com on your web browser.
From the homepage, click LOG IN to access the account with your email address and password.
Complete 2FA verification to confirm login.
Complete asset transfer
Once you’re in, click on WALLET > FIAT AND SPOT from the top right corner of the top navigation bar.
Click on WITHDRAW from your Binance wallet. On the withdrawal page, select the crypto asset you’d like to transfer to Revolut.
Paste the deposit address or scan deposit QR code in the ADDRESS field and select the corresponding NETWORK.
Specify the amount of crypto asset you’d like to withdraw and ensure you review the transaction. Finally, click on WITHDRAW and complete 2FA verifications to complete your withdrawal.
You can check the withdrawal progress from the TRANSACTION HISTORY section of your Binance account.
Transaction time generally depends on the confirmation time in the destination network. Once the transaction has been finalized on-chain, the asset will reflect in your Revolut crypto wallet.