The 21-year-old signed a contract with the Champions League holders until June 2020 after passing his medical and is determined to make an impact at his new club.
"It is right that I waived my right to 10 per cent of the transfer fee so I could join Real Madrid," the Brazilian told Marca.
"It was best for all concerned and at this stage all I wanted was to play for Real Madrid. I've been given a unique opportunity and I want to make the most of it.
"Real Madrid are the biggest club in the world, but I feel up for the challenge and I'm really excited. I know I'm going to a club where there's a lot of competition, who play in a very tough league and the Champions League, but I'm ready for all of that."
The midfielder then went on to admit that he has yet to discuss his role with Carlo Ancelotti, but is confident he will fit in at his new club.
"I haven't had the chance to speak to the coach yet. I have spoken to people at the club, though, such as the sporting director, and I know what they want from me.
"They've watched me play for Cruzeiro and they know what my attributes are, but at the end of the day the coach calls the shots and I'll adapt to the team."
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