Buying Crypto on MEXC Using Revolut: A Simple Guide

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The world of cryptocurrency has opened up exciting investment opportunities, and MEXC has emerged as a popular exchange for traders and investors alike. But what if you’re new to crypto and primarily use Revolut for your banking needs? Can you use Revolut to fund your MEXC account and start trading?

This comprehensive guide will walk you through the process of buying crypto on MEXC using Revolut, addressing common questions and concerns along the way.

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Can You Use Revolut with MEXC?

The short answer is yes, but it’s not a direct process. MEXC doesn’t directly support Revolut as a payment method. However, this doesn’t mean you’re out of luck! There are workarounds that allow you to seamlessly transfer funds from your Revolut account to MEXC.

Understanding the Process

Since you can’t directly link your Revolut account to MEXC, you’ll need to utilize a “bridge” in the form of a cryptocurrency wallet or another exchange that supports both platforms. Here’s a breakdown of the two most common methods:

Method 1: Using a Cryptocurrency Wallet

  1. Choose a Cryptocurrency Wallet: Select a reputable cryptocurrency wallet that supports both Revolut and the specific crypto you want to buy on MEXC. Popular options include:

    • Trust Wallet
    • Exodus
    • Coinbase Wallet

  2. Buy Cryptocurrency on Revolut: Purchase your chosen cryptocurrency through Revolut’s in-app crypto trading feature.

  3. Transfer to Your Wallet: Send your purchased cryptocurrency from Revolut to your chosen cryptocurrency wallet.

  4. Send to MEXC: Transfer the cryptocurrency from your wallet to your MEXC account. You’ll need to find your MEXC deposit address for the specific cryptocurrency you are transferring.

Method 2: Using Another Exchange

  1. Choose a Supported Exchange: Select a cryptocurrency exchange that allows direct deposits from Revolut and withdrawals to MEXC. Binance is a popular choice that meets these criteria.

  2. Deposit Funds: Deposit funds from your Revolut account to the chosen exchange.

  3. Buy Cryptocurrency: Purchase the desired cryptocurrency on the intermediary exchange.

  4. Withdraw to MEXC: Withdraw your purchased cryptocurrency to your MEXC account.

Factors to Consider

  • Fees: Each step in the process may involve transaction fees. Be sure to research and compare fees associated with cryptocurrency wallets, exchanges, and the cryptocurrencies you’re trading.

  • Processing Times: Transfer times can vary depending on the chosen method, network congestion, and platform processing times.

  • Security: Prioritize security by using strong passwords, enabling two-factor authentication, and researching the reputation of the wallets and exchanges you choose.

Step-by-Step Guide: Buying Crypto on MEXC with Revolut (Using Binance)

Let’s illustrate the process using Binance as our intermediary exchange:

  1. Create Accounts: If you haven’t already, create accounts on both Binance and MEXC. Complete the necessary verification processes on both platforms.

  2. Fund Your Binance Account:

    • Log into your Binance account.
    • Navigate to the “Wallet” section and choose “Fiat and Spot.”
    • Select your desired fiat currency (e.g., EUR, USD) and choose “Bank Deposit.”
    • Select “SEPA” or “Faster Payments” (for EUR) and follow the on-screen instructions to link your Revolut account.

  3. Buy Cryptocurrency on Binance:

    • Once your Binance account is funded, search for the desired cryptocurrency you want to trade on MEXC.
    • Choose the appropriate trading pair (e.g., USDT for stablecoins) and place a market order to buy the cryptocurrency at the current market price.

  4. Withdraw from Binance to MEXC:

    • Navigate to your Binance “Wallet” and select “Withdraw.”
    • Choose the cryptocurrency you purchased.
    • On MEXC, find your deposit address for the specific cryptocurrency.
    • Copy your MEXC deposit address and paste it as the withdrawal address on Binance.
    • Double-check all details and confirm the withdrawal.

  5. Start Trading on MEXC: Once the cryptocurrency arrives in your MEXC account (this may take some time depending on network confirmations), you can start trading on the platform.

Conclusion

While MEXC doesn’t directly support Revolut, you can still fund your MEXC account and trade cryptocurrencies using the methods described above. Using a cryptocurrency wallet or an intermediary exchange like Binance provides a convenient bridge for transferring funds. Remember to research fees, processing times, and security measures associated with each platform and method to ensure a smooth and secure trading experience.

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