Revolut is a digital banking platform that offers a range of financial services to its users. One of the unique features of Revolut is that it allows its users to buy, sell, and hold cryptocurrencies, including Bitcoin. In this article, we will explain how to send Bitcoin using Revolut.
Before we dive into the process of sending Bitcoin using Revolut, it is important to understand what Bitcoin is and how it works. Bitcoin is a decentralized digital currency that operates on a peer-to-peer network. It allows users to send and receive payments without the need for a central authority or intermediary.
Now that we have a basic understanding of Bitcoin, let’s get into the steps involved in sending Bitcoin using Revolut.
Step 1: Open the Revolut App
The first step is to open the Revolut app on your smartphone. If you don’t have the app installed, you can download it from the App Store or Google Play Store.
Step 2: Go to the Cryptocurrency Section
Once you have opened the app, go to the cryptocurrency section. This can be done by clicking on the ‘Cryptocurrency’ tab at the bottom of the screen.
Step 3: Choose Bitcoin
In the cryptocurrency section, you will see a list of all the cryptocurrencies supported by Revolut. Choose Bitcoin from the list.
Step 4: Click on the ‘Send’ Button
To send Bitcoin, click on the ‘Send’ button. This will take you to the screen where you can enter the recipient’s Bitcoin address.
Step 5: Enter the Recipient’s Bitcoin Address
Enter the recipient’s Bitcoin address in the space provided. Make sure you enter the correct address as Bitcoin transactions cannot be reversed once they are sent.
Step 6: Enter the Amount to be Sent
Enter the amount of Bitcoin you want to send to the recipient. You can choose to send the full balance of your Bitcoin wallet or enter a specific amount.
Step 7: Confirm the Transaction
After entering the recipient’s Bitcoin address and the amount to be sent, you will be asked to confirm the transaction. Double-check that all the details are correct before confirming the transaction.
Step 8: Wait for the Transaction to be Processed
Once you have confirmed the transaction, you will need to wait for it to be processed. Bitcoin transactions can take anywhere from a few minutes to a few hours to be processed, depending on the network congestion.
In conclusion, sending Bitcoin using Revolut is a simple and straightforward process. With Revolut, you can send Bitcoin to anyone with a Bitcoin wallet address. It is important to remember to double-check all the details before confirming the transaction as Bitcoin transactions cannot be reversed once they are sent.