Cash to Crypto: Simple and Fast.

6 min readMar 22, 2024

The problem

When it comes to crypto newbies, the first and most common question is: How can I buy Crypto? Believe it or not, the answer is never easy. 15 years after Bitcoin was launched, people who aren’t crypto-savvy are still having a difficult time understanding how to buy crypto and where to buy it. And the problem really isn’t them, because the 15-year-old industry still hasn’t found an easy way to onboard cash, something everybody still has, into crypto.

The solution

If we look at what is offered as a solution now, we can name a few available but proven methods for onboarding FIAT (money) to crypto.

One of the most common processes is to use your debit or credit card and buy crypto directly from the mobile app or website that is offering this feature. In any case, by using a debit or credit card, you’ll most likely be routed to one of the FIAT-to-crypto on-ramping services like MoonPay, Banxa, Ramp, Simplex, and others that are similar. In some cases, if you’re using an exchange app, you may use their proprietary service or even an aggregator. In any case, using a debit or credit card to buy crypto is not an easy task because there are several limitations. First, you’ll need to perform a full KYC verification, which may, in many cases, be a lengthy and challenging process. Once you’re done with it, you’ll most likely face one of the biggest problems in the industry: transaction denied. The reason for this comes from the fact that card issuers (most likely your bank) are very strict when it comes to approving transactions towards risky merchants because of Anti-Money Laundering (AML). All crypto-related businesses (merchants by merchant ID) are considered high-risk merchants, so issuers block payments to such high-risk merchants by default. To solve this problem, you’ll have to call your card issuer (the bank) and ask to whitelist your specific merchant so the transaction can be processed. In most cases, this will solve the problem…if you actually manage to get to that point, because the process is quite tedious. Most people will never go through the trouble of whitelisting a merchant, which results in many declined transactions, and means that buying crypto with debit or credit cards is far from the optimal solution.

At the moment, Revuto offers the feature to buy REVU with Cards in the Revuto app. This is something that was made possible by our partnership with Banxa. You can read more about this partnership in our blog post about it.

All of the above can be solved differently by purchasing crypto with a bank transfer. In the EU, that’s mostly done by making a SEPA transfer to the merchant, who is, again, licensed to sell you crypto from FIAT. Again, you would think that this process would be easy. But it’s far from easy because, even though you take all the right steps, the process is lengthy as the funds need to arrive at the right destination and be confirmed before you get crypto to your crypto wallet. The most common mistakes here are: putting in the right (corresponding) information about the beneficiary bank, the address of the bank, specific information about who exactly is paying, who’s covering the transaction fees, and the timing. Because it’s a bank transfer, you need to understand that some transactions will not be processed late at night or on weekends and holidays.

The third most common option would be to personally go to a physical crypto exchange (office) and start the transaction. The problem with this process is that you need to go to a specific location to make the exchange, spend time providing your personal information and crypto wallet address, and wait for the transaction to arrive so you can confirm all is good. Still, so far, it’s the most straightforward process of all those mentioned above.

Revuto e-vouchers

When we started working on Revuto, one of our primary goals was to allow non-crypto-savvy people to enter the world of crypto in the easiest and most intuitive way possible. In that regard, we were thinking about how we could improve the process of onboarding cash into crypto for people who don’t have the time (and nerves) to go through the unnecessary hassle that we’ve described above. That’s how we came up with the idea to find partners to help us give people the option to use cash to buy a simple e-voucher and later scan that e-voucher with the Revuto app to get crypto to their crypto wallet quickly.

In this case, an e-voucher is nothing more than a paper slip with a numeric and QR code to unlock crypto at specific locations (the app).

Starting in a few days, with our local partner licensed for providing these financial instruments, people will be able to buy e-vouchers at specific locations in Spain for up to 150 EUR (only KYC light verification can be required, which means you’ll need to prove you’re 18+). The setup will serve as a testing polygon so we can see how we can improve the process according to the most common user behavior and demand. The goal is to test the product and bring it to the broader market — the whole EU…for a start.

You can check out this preview of the e-voucher purchasing process in one of our recent X (Twitter) posts.

Likewise, you can check out the reverse process:

What does this mean for Revuto and REVU tokens?

With e-vouchers, Revuto should significantly impact the business of onboarding cash into crypto and vice versa. We see great potential for spreading this service across the broader market and even potentially partnering with other similar apps that have crypto wallets to offer the same. The opportunity is massive, and this could be the first step towards solving a big problem with a straightforward product.

Also, in the case of Revuto, which still needs to launch its most significant product — a debit card program for actively managing prepaid subscription services (recurring payments) — this could be a great addition to its already tremendous mission. Allowing people to onboard cash to their debit cards easily and, in this case, via crypto could be of great value to our users.

More importantly, with growing user demand for this product, our idea was to create additional organic demand for REVU, which should result in better token price performance over time. Many REVU token holders will appreciate this aspect if the service and its user base pick up with time.

The service will go live in the upcoming days, and Revuto will actively market the product. You may expect more product overviews, demo videos, publications, and ads. We’ll also urge our users to test the product and send us their feedback.

Your Revuto Team.

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