How to profitably convert currency and earn on exchange rate differences: a scheme with a bank, Revolut, and Binance
In the context of an unstable currency market and restrictions in traditional banking tools, more Ukrainians are looking for alternative ways to effectively manage their finances. One such tool is the scheme involving a Ukrainian bank, the payment service Revolut, and the cryptocurrency exchange Binance.
This strategy allows not only to profitably convert dollars to hryvnias, bypassing unfavorable bank rates, but also to earn profit on the difference between the buying and selling rates of cryptocurrency. In this article, we will examine step-by-step how this scheme works, what risks and fees exist, and how to maximize the efficiency of using each platform.
Bundle:
1. Purchase USD at a Ukrainian bank:
• Rate: As of April 13, 2025, the official rate is about 41.31 UAH per 1 dollar. 
• Bank fee: May vary; assume 0.5%.
2. Transfer USD to Revolut:
• Methods: SWIFT transfer or topping up Revolut card.
• Fee: Depends on the bank and method; assume 0.3%.
3. Transfer from Revolut to Binance:
• Methods: SEPA transfer or purchase of cryptocurrency via Revolut Pay on Binance. 
• Fee: Can be up to 5%. 
4. Purchase USDT on Binance:
• Method: Through the spot market.
• Rate: 1 USDT ≈ 43.82 UAH. 
• Fee: Usually 0.1%.
5. Sale of USDT for UAH on Binance spot market:
• Rate: 1 USDT ≈ 43.82 UAH. 
• Fee: 0.1%. 
6. Withdrawal of UAH to a Ukrainian card via P2P:
• Fee: Depends on the counterparty; assume 0.5%.
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Example calculation for 1,000 USD:
1. Purchase of 1,000 USD at the bank:
• Costs in UAH: 1,000 × 41.31 = 41,310 UAH. 
• Bank fee (0.5%): 206.55 UAH.
• Total: 41,516.55 UAH.
2. Transfer 1,000 USD to Revolut:
• Fee (0.3%): 3 USD.
• Balance: 997 USD.
3. Transfer from Revolut to Binance:
• Fee (up to 5%): presumably 0%.
• Balance: 997 USD.
4. Purchase USDT on Binance:
• Rate: 1 USDT = 1 USD.
• Amount of USDT: 997 USDT.
• Fee (0.1%): 0.997 USDT.
• Balance: 996.003 USDT.
5. Sale of USDT for UAH on Binance spot market:
• Rate: 1 USDT = 43.82 UAH.
• Revenue: 996,003 × 43.82 = 43,657.84 UAH.
• Fee (0.1%): 43.66 UAH.
• Balance: 43,614.18 UAH.
6. Withdrawal of UAH to a Ukrainian card via P2P:
• Fee (0.5%): 218.07 UAH.
• Total on the card: 43,396.11 UAH.
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Total:
• Costs for purchasing 1,000 USD: 41,516.55 UAH.
• Amount on the card after all operations: 43,396.11 UAH.
• Profit: 43,396.11 - 41,516.55 = 1,879.56 UAH.
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