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Any Britbongs into crypto here?
I've been trying to get on an exchange. I tried cex.io because I saw they are a British company, and they allow card payments, but so far I've been unable to get verified with them. Also I think their bank account might be in dollars anyway.
I finally managed to get to tier 3 verification on Kraken, because I saw that's what you need to deposit GBP. But I now realise that was a waste of time because the fees to deposit in GBP to their Japanese bank are £10, and to withdraw it's £60 fee. Fuck me, I'd have to be trading tens of thousands for that fee to be worth it.
Looks like the fees for Euro by transfer are much lower, 0 to deposit (?) and €0.09 to withdraw via SEPA. USD are the same charges as GBP, so does everybody use SEPA in EUR?
Or is there a better exchange? I just want to trade some crypto with the ability to withdraw to fiat, why is it so difficult.
Are there any exchanges who have an actual British bank account so that there will be no fees?
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>>2830277
I personally set up a SEPA transfer in EUR from my GBP bank to Bitstamp.
Buy BTC on bitstamp then transfer the BTC to exchanges. Best method i could find when i started. Not sure what the fees are now, worth checking perhaps?
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>>2830277
Bittylicious if you're desperate.
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If you're wanting to trade Bitcoin, use Coinfloor. They only deal in Bitcoin but are damn good at it, would highly recommend them.
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Just use Kikebase
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>>2830277
Fag just buy them at local bitcoins and send to your bittrex wallet
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Cheapest method:
GBP -> Transferwise -> EUR bank account outside UK -> Bitstamp
Note you cannot go direct from transferwise to an exchange
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I'm using CoinCorner seems to work fine, bought about £500 worth from them
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>>2830534
Yeah I was thinking I might open an Irish bank account, could be useful.
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>>2830394
This.
Localbitcoins is a godsend.
If you're making national bank transfers into crypto exchanges, say goodbye to your bank accounts. There are many horror stories of people having their accounts shut down after having activity involving btc.
Using localbitcoins only sends £ from one individual to another - no evidence of bitcoins. From there, you can send your btc wherever you want.
Good luck
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>>2830277
Billylicious. Put it in an online wallet like Blockchain - safe, easy and quick.
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>>2830557
Actually forget that, turns out Irish banks charge you for just about everything ever, including having the account, using the card, using ATMs, writing cheques, making transfers, everything incurs a fee.
I'll just use localbitcoins to buy/sell BTC and then transfer the BTC to exchanges.
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>>2830574
Bitilicious' rates are an atrocity but it's quick and simple and doesn't leave traces similar to localbitcoins.
Don't put your coins into an online wallet - especially blockchain.info is dodgy as fuck with minimum security.
For long investment, store cold. For trading, put a small amount into an exchange
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>>2830277
I use cex.io and it's pretty shit. BTCs overpriced as hell over there. I've never taken money back out through cex so you might get the higher price benefit on the way out.
On the plus side everything works pretty smooth. It took me about 1 month to get verified. I'm in Aus btw
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>>2830664
I was wondering what's to stop arbitrage (buy BTC on one exchange, transfer to cex.io and withdraw fiat), but it looks like all the fees at every stage of the transfer would eat away at profits
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>>2830698
Nope, it is a valid thing to. But you need a bot.
Also have funds in different exchanges ready so you save the transfer time
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U.K. Banks are a pain in the arse, I'm trying to set up a business account for a bitcoin ATM but I can't find a bank that allows it.
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