Devenny is currently on international duty with Northern Ireland, scoring his first goal for his country on the night of his cap, in a 3-1 win in Luxembourg.
The 21-year-old has enjoyed a strong start to the season at club level, smashing home the winning penalty in the Community Shield after an impressive appearance from the bench, before starting the home draw with Nottingham Forest.
"I'm just living the dream," Devenny said. "I think that's probably the best way to put it. This is what I wanted to do since I was a kid, so I've just got to take it in my stride.
"You never take it for granted and I'm just so happy to be here. But, even when I am here, it's just about what's next, looking to build on what I can do and what I can show. It's exciting times ahead."
Crucial to this, he believes, is the impact Palace manager Oliver Glasner has had on his career.
"The gaffer has been brilliant since he came in," he added. "Especially for me. I learned something on the first day and I learned something on the last day of training. He is just so helpful.