Revolut Currency Exchange | Goskat
With more than 180 currencies available in the world, currency exchange platforms have become pretty crucial for elevating the global trade and tourism sector and providing efficient currency exchange services. So, whether you are planning a foreign trip or buying and selling currencies, here is everything you need to know about currency exchange portals and why Revolut currency exchange is one of the best bets you can make.
What is Currency Exchange?
What is Currency Exchange | Goskat
Currency Exchange is basically a legitimate business that allows customers to exchange one currency for another by applying an always-changing currency rate. With so many online platforms available that easily let you make transactions from anywhere across the world, all you need to do is find the one that offers the best competitive prices. These websites offer transparency and safer transfers, and most of them feature a global currency converter that exchanges currencies based on the latest rates going on.
When to use currency exchange websites?
One of the main reasons people opt for currency exchange websites is when traveling to foreign countries. As every country holds a distinct currency, you need to exchange the money according to your destination country so that you can easily spend or shop for items hassle-free.
Another interesting reason would be forex trading, where many traders buy and sell various currencies to gain profits. The forex market is a global space that is open five days a week and 24/7 letting you invest in trading services with minimal risks. So, these currency exchange websites let you trade or exchange currencies with ease of convenience and lower transaction fees.
Why opt for Revolut Currency Exchange?
Why opt for Revolut Currency Exchange | Goskat
Revolut is a digital banking alternative that lets you create an account in just under 60 seconds. The fintech company started as a prepaid card and an app that let users exchange currencies at very reasonable prices and has now expanded its wings by offering various other products and services.
When customers opt for Revolut Currency Exchange, they get physical prepaid currency cards that let them make foreign payments with no extra cost by using the interbank exchange rates. The interbank rate is basically what banks offer each other when exchanging different currencies, and Revolut ensures its customers find the cheapest rates possible compared to other companies.
Those who have a Revolut account can withdraw money up to £200 per month without any transaction fees being applied to the transaction. If you withdraw more money after this, customers have to levy a 2% transaction fee on a minimum of £1 to £1000 spent, transferred, or exchanged. If you compare with other companies like Caxton or Travelex, Revolut currency exchange fees are surely the best and most affordable to invest in.
4 Advantages of Using Revolut Money Exchange Services
Revolut allows you to exchange currencies with over 25 countries at pretty competitive prices and can be easily done by downloading the app on your smartphone or surfing on the browser on your desktop. The process is very easy to carry forward and only takes four steps to complete a foreign currency exchange transaction.
1. Exchange at Real Rates
Open the Revolut app on your phone and visit your dashboard. Enter the amount you want to send and get the real rates at which you will be charged. Through the Revolut currency exchange service, you get full transparency without any hidden transaction fees that will be included in the bill.
2. Automatic Tradings
If you are planning to invest in forex trading, the app helps you buy and sell foreign currencies and even quickly set up automatic future exchanges that will limit and stop your orders whenever required.
3. Always Stay Updated
You can switch on the notifications to always stay updated and get alerts whenever the currencies go high or low or hit your desired prices. This way, you’ll stay updated with everything going on in the trading market, so you can buy and sell to make a profit.
4. Get Fixed Exchange Rates
If you want to stick to your budget, the Revolut currency exchange service allows you to protect your capital no matter how high or low the market is going. You can get a fixed exchange rate up to a year in advance and gain profits.
Revolut Currency Exchange Process
- Start by setting up a Revolut account. Once you are done, take a look at what currency exchange rates the company offers, and afterward, click on the exchange tab and select the destination country to exchange the currency.
- The page will show you what the current exchange rate is and what amount of money you’ll get after the exchange. Review it and move forward to the next step.
- The next and final step entails all the fee structures, including transaction fees, exchange rates, and the amount you are sending and will be receiving. Once you are done verifying the amounts, submit the order, and it’s done.
Conclusion
While there are many currency exchange websites available, Revolut Currency Exchange is one of the best platforms that offers free or low transaction fees, quicker and more secure transfer services, and no additional hidden fees. So, quickly book that flight or start your trading career through Revolut and enjoy the various benefits and deals provided by the company. For more such information, visit GoSkat.
