How to buy crypto without fees
Summary
TLDRThis video demonstrates how to transfer money from a bank or card to buy and sell crypto using the Revolut and Neverless apps without incurring fees. It walks through setting up both apps, converting currency, and transferring funds securely. The video explains how to buy crypto on Neverless at the best rates and even earn passive income. The tutorial also covers withdrawing money back to Revolut and eventually to your card, all with minimal or zero fees. The process is simplified and accessible to almost anyone globally.
Takeaways
- 💡 The video provides a step-by-step guide on how to send money from a bank or credit card to buy cryptocurrency with zero fees.
- 🌐 It introduces two apps, Revolut and Neverless, which are crucial for the process and are used for transferring and trading crypto.
- 💼 Revolut is a well-known banking app, while Neverless is a new crypto app developed by former Revolut executives.
- 💰 The video emphasizes that Neverless offers the cheapest way to buy crypto, with a comparison to other exchanges like Coinbase and Binance.
- 📲 The process starts by setting up accounts on both Revolut and Neverless, with an invite link provided for Neverless.
- 💳 Money is first topped up to the Revolut account using a card, and then exchanged to Euros, which is the cheapest currency for transfers.
- 🔄 The Euros are then sent from Revolut to Neverless, with a specific reference code required for the transfer.
- 📈 Neverless allows users to buy over 350 different cryptocurrencies with zero fees and also offers a strategy feature for earning passive income.
- 🔙 The video also explains how to sell crypto and send the funds back to Revolut, and then withdraw it back to a card.
- ⏱️ The transfer of funds between Revolut and Neverless typically takes about 9 hours to complete.
Q & A
What are the two main apps mentioned in the video script for transferring money to and from cryptocurrencies?
-The two main apps mentioned are Revolut and Neverless.
How does the video claim to allow users to buy and sell crypto with 0% fees?
-By using the Revolut and Neverless apps, which are said to facilitate the process with no fees, allowing users to buy and sell crypto at the best rates.
What is the Neverless app and who developed it?
-Neverless is a crypto app developed by former Revolut executives, aiming to be the easiest and cheapest way to buy crypto.
How does the video suggest setting up accounts on Revolut and Neverless?
-The video suggests installing both apps on a phone, setting up an account on each, and using an invite link for Neverless, which will be provided in the video description.
What is the recommended initial amount to send from Revolut to Neverless when testing the transfer process?
-The video recommends sending the lowest amount of €11 the first time to verify that everything has been done correctly.
How does the video describe the process of exchanging money from Revolut to Euros?
-The money in the Revolut account is exchanged to Euros by clicking on 'Exchange', and this can be done for free as long as the amount is below $1,000 per month.
What is the role of the reference code in transferring money from Revolut to Neverless?
-The reference code is crucial for identifying the transaction and is required to be included in the transfer details to ensure the funds are correctly credited to the user's Neverless account.
How does Neverless handle the conversion of Euros to US Dollars?
-Neverless automatically exchanges Euros to US Dollars for free when the funds arrive from Revolut.
What additional feature does the Neverless app offer for users holding US Dollars?
-Neverless offers a 'Strategies' feature that allows users to earn passive income on their US Dollars, with an annual yield of around 12% to 14%.
How does the video guide users to withdraw money from Neverless back to Revolut?
-Users are guided to sell the crypto to Euros in Neverless, then provide the necessary bank details from Revolut to complete the withdrawal process without fees.
What is the final step to withdraw money from Revolut to a card after converting Euros back to the native currency?
-The final step is to click on 'Payments', then the plus sign, select 'Card recipient', and enter the card number to withdraw the money.
Outlines
💼 Cryptocurrency Purchase and Sale with Zero Fees
This paragraph introduces a method for buying and selling cryptocurrency without incurring any fees. The process involves using two apps: Revolut and Neverless. Revolut is a well-known banking app, while Neverless is a new cryptocurrency app developed by former Revolut executives. The video promises to show viewers how to transfer money from their bank or credit card to cryptocurrency and back, maximizing the amount of cryptocurrency obtained for their money. The video also emphasizes that it does not provide financial advice. The tutorial will guide viewers through setting up accounts on both apps, transferring money from Revolut to Neverless, and buying and selling cryptocurrency. It mentions that Neverless is the most cost-effective platform for purchasing cryptocurrency, offering the best exchange rates compared to other exchanges like Coinbase and Binance.
🌐 International Money Transfers and Cryptocurrency Conversion
The second paragraph details the process of transferring money internationally using the Revolut app and converting it to cryptocurrency on the Neverless platform. It explains how to top up the Revolut account with money from a card, exchange it to Euros, and then send it to Neverless without fees, as long as the monthly limit of $1,000 is not exceeded. The paragraph also covers how to add Neverless as a recipient in Revolut for the transfer, ensuring to include a reference code for the transaction. It advises starting with a small amount for the first transfer to verify the process. Once the Euros arrive in Neverless, they are automatically exchanged to US Dollars at no cost. The paragraph also touches on the ability to earn passive income on holdings within the Neverless app through its 'Strategies' feature, which offers an annual yield of around 12% to 14%.
🔙 Withdrawing Cryptocurrency Proceeds to a Bank Account
The final paragraph outlines the process of withdrawing money from Neverless back to Revolut and then to a personal bank card. It describes how to sell cryptocurrency in Neverless and convert it back to Euros. The tutorial includes instructions for adding a bank account in Neverless using the Revolut account details, ensuring the transaction is fee-free. The paragraph concludes with the steps to exchange Euros back to the user's native currency within Revolut and withdraw the funds to a card, completing the cycle of transferring money to and from cryptocurrency platforms.
Mindmap
Keywords
💡Cryptocurrency
💡Revolut
💡Neverless
💡Fees
💡IBAN
💡Exchange Rates
💡Blockchain
💡Strategies
💡Bank Transfer
💡Conversion
💡Debit Card
Highlights
Sending money from bank or Visa/Mastercard to buy crypto and selling crypto back to bank/card can be done with 0% fees.
Using Revolut and Neverless apps is crucial for 0% fee transactions.
Neverless is a new crypto app created by former Revolut executives.
Neverless offers the cheapest way to buy crypto compared to other marketplaces like Coinbase, Binance, and Bybit.
Instructions on how to install and set up accounts on both Revolut and Neverless apps.
Adding money to Revolut account using a card and converting it to Euro with no fees.
Sending Euro from Revolut to Neverless by adding a new bank recipient and using a reference code.
Neverless automatically exchanges Euros to US Dollars for free.
Neverless allows buying over 350 different cryptocurrencies with 0% fees.
Neverless offers a 'Strategies' feature for earning passive income on US Dollars.
Process for withdrawing money from Neverless back to Revolut by selling crypto to Euro.
Transferring Euros from Neverless to Revolut and then converting back to native currency.
Withdrawing money from Revolut to a card is straightforward and fee-free.
Neverless is backed by well-known people and has big backers.
The Neverless app provides detailed information for bank transfers, including IBAN and BIC numbers.
Users can deposit crypto directly into the Neverless app using blockchain networks.
Transcripts
How do we send our money from our bank or Visa/ Mastercard and buy crypto. And how do we sell
our crypto and send back to our bank or card. And how can we do all of this with 0% fees and buy
crypto at the place where we get the most for our money. It's very easy, it works for almost everyone
in the world and I will show you all of that in this video. Nothing I say in any of my videos are
financial advice. Here is the overview of what I will show you today. We will go from money in
our card to the Revolut app, to the Neverless app, show how to buy and sell here. And then show
how to go the same way back. Using these two free apps is crucial for us to be able to do this with
0% fees. Revolut, you have probably heard about before. But Neverless is a new crypto app made
by former Revolut executives. So Neverless is made by well-known people with big backers.
And they are making Neverless the easiest and cheapest way to buy crypto. And it really is the cheapest.
I've compared Neverless with all other crypto marketplaces, exchanges like coinbase, binance, bybit
everywhere, and Neverless is the best and where we get the most crypto for our money. So the first thing
we need to do is to install the Revolut and the Neverless app in our phone and set up an account
on both those apps. The only way to join Neverless and get direct access to their app is by using this
invite link that will pop up here. I will leave this link in the description below. I will not show
you how to set up the accounts for each app, but it's very straightforward. You can of course use
the same phone for both apps. I just using two phones just for the sake of this video.
When we got both apps set up we begin by going into Revolut to top up our Revolut account with money
using our card. We click here "Add money". We add our card details and we add money. And it will show up
almost instantly. Then the cheapest way to send money is using Euro. So now we need to exchange
the money we put into our revolut account into Euro, which we can do by clicking here "Exchange".
And we can convert on Revolut pretty much any kind of currency we want. And we exchange for free
between Monday to Friday, as long as we stay below $1,000 per month. But even if we want to exchange
and send more than $1,000 per month, the exchange fee is very small and something we would need to
deal with on any other place anyway. But below $1,000 it's free. So we exchange. And to see our
Euro we click here on "accounts" and choose Euro. Now we want to send the Euro from revolut to Neverless.
To do that we make sure we are on Euro here. We click on "Payments". We add a new contact
by clicking the plus sign here. We click "Bank recipient". And we choose "Business". And to get the
information we need here we open up our Neverless app. In the Neverless app we click on "Deposit", "Bank transfer",
"Euro". And here we got all the information we need. But you need to check this yourself in your Neverless app,
because you need your specific reference code up here which is specific to your account. So here
you can see I've typed in the right country, Euro, IBAN number and name of the bank. And then I click
"Add recipient". And here before we type in how much we should send we need to type in the reference
code here. We must include that. Do not forget the reference text. And then we type in how many Euro
and send. If this is your first time sending money this way I highly recommend start by sending the
lowest amount of €11 the first time, to verify that you have done everything correctly. And if
that arrives successfully we can go back and send more to the same contact. And that's it. I did this
transfer yesterday and it took 9 hours for it to arrive. When the Euro arrived to Neverless, Neverless
automatically exchange the euro to US Dollars completely for free. So that is why we see it
arriving as dollars. And we can see the US dollars in our portfolio. You can of course also deposit
crypto to the Neverless app using blockchain networks, by clicking here. Now here in the Neverless app we can
easily buy more than 350 different crypto for 0% fees. And we can swap between euro and USD
and anything we like. We can also here, by swiping right, earn passive income on our US Dollars by
putting them into "Strategies" that yield us around a 12% to 14% annual income on our holdings here.
So it's one of the best saving instruments I've ever seen and you can read more in the app exactly how
this strategies feature work. Okay great, now we have learned how to transfer money to crypto and
buy with 0% fees. Let's go through how to withdraw from Neverless back to Revolut so that we can take
out our money. First on Neverless we sell the crypto to Euro that we want to withdraw. We click here.
"New bank account". And to get this information we need to open up the Revolut app again. Make sure your
account is set to Euro. And then we click here on "Details". And here we got all the information
we need. We select Euro, set the right country "Lithuania", we copy and paste our IBAN and BIC number.
And we set any name we want as a label. And here we can see that we send this with no fees.
I did this transfer yesterday as well and it took 9 hours for it to arrive in my Revolut app.
And then when the Euro arrives in your Revolut app simply exchange or convert your currency
from Euro back to your own native currency if you want. So I can go from Euro here back
to the Swedish krona. And then lastly to withdraw money from the Revolut app to my card, I simply
click on "Payments", click the plus sign, click "Card recipient" and enter in my card number. And we can,
just as easily as I topped up my Revolut account, withdraw money back to my card.
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