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.

Outlines

00:00

💼 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.

05:02

🌐 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.

Keywords

💡Cryptocurrency

Cryptocurrency refers to digital or virtual currencies that use cryptography for security and operate on decentralized systems like blockchain technology. In the video, cryptocurrencies are the digital assets being bought and sold using the Revolut and Neverless apps, showcasing a modern method of investment and wealth management.

💡Revolut

Revolut is a digital banking alternative that offers a pre-paid debit card, currency exchange, and other financial services through its mobile app. In the context of the video, Revolut serves as the gateway for transferring fiat money to cryptocurrency platforms, highlighting its role in facilitating financial transactions.

💡Neverless

Neverless is a cryptocurrency app developed by former Revolut executives, aimed at providing an easy and cost-effective way to buy and sell cryptocurrencies. The video emphasizes Neverless as a platform where users can execute trades with zero fees, making it a central tool in the tutorial for managing digital assets.

💡Fees

Fees in this context refer to the charges imposed by financial service providers for transactions. The video's theme revolves around conducting financial transactions with '0% fees', which is a significant selling point for both Revolut and Neverless, emphasizing cost savings for the user.

💡IBAN

IBAN stands for International Bank Account Number, which is a standardized format for identifying bank accounts across national borders. In the video, IBAN is crucial for transferring funds from Revolut to Neverless, demonstrating its importance in international money transfers.

💡Exchange Rates

Exchange rates are the values at which one currency can be exchanged for another. The video discusses converting money into Euros within the Revolut app, which involves understanding exchange rates to ensure the user gets the most value for their money when buying cryptocurrencies.

💡Blockchain

Blockchain is a decentralized and distributed digital ledger technology that underpins cryptocurrencies, enabling secure and transparent transactions. The video mentions depositing crypto to the Neverless app using blockchain networks, underscoring the foundational role of blockchain in cryptocurrency transactions.

💡Strategies

In the context of the video, 'Strategies' refers to financial investment options within the Neverless app that allow users to earn passive income on their holdings. This feature is highlighted as a way to maximize returns on cryptocurrency investments, adding an additional layer of financial management.

💡Bank Transfer

A bank transfer is a method of electronic payment from one bank account to another. In the video, bank transfer is the primary method for moving funds from Revolut to Neverless, illustrating a common practice for transferring money within the digital finance ecosystem.

💡Conversion

Conversion in the video refers to the process of changing one form of currency or asset into another, such as exchanging Euros for US Dollars within the Neverless app. This process is key to facilitating the buying and selling of cryptocurrencies and体现了 the fluidity of digital asset management.

💡Debit Card

A debit card allows the cardholder to pay directly from their bank account. In the video, the debit card is used to top up the Revolut account, which then serves as a stepping stone to the world of cryptocurrency investments, showcasing the debit card's role in the broader financial ecosystem.

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.