How to buy crypto without fees

Summary

This 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.