Posted 29th Nov 2021
Wondering how people are currently banking when trading crypto. Seems most UK banks have banned Binance and a lot wont allow transfers to any exchanges. So was curious as to what people are using now?

Was looking to open an account specifically for Crypto so any issues wouldn't affect normal day to day banking and considered the Revolut card now Monzo wont do exchanges but have heard some horror stories for accounts being frozen and awful CS.

Also thinking I'll prob steer clear of Binance anyway given their troubles right now.
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  1. Avatar
    I have coin base and Crypto.com account, I send and receive money with no issue with Halifax . With Crypto.com I had to set up a fiat wallet and get verified ect
  2. Avatar
    all my banks allow me to send to coinbase. any other exchange i use, i transfer from coinbase. same as poster below, have referral links to coinbase, binance, kucoin, ascendex if needed.
  3. Avatar
    Kraken is good
  4. Avatar
    Coinbase fine with santander
  5. Avatar
    Author
    I have a Santander account but dont want to risk it getting frozen so am gonna try an old Nationwide account and see how that goes Have transferred some money in to my Nationwide ready and will do a small in/out when Ive set the accounts up, to check it's all good.
    There was some rumblings of Nationwide not working with coinbase so just wanted a test.
  6. Avatar
    1. Transfer £ from your bank to Revolut

    2. Convert £ to Euros at Revolut (I think it's either £500 or £1000 per month fee free)

    3. SEPA transfer Euros from Revolut to Coinbase fee free
    Edited by: "morgie" 29th Nov
  7. Avatar
    NatWest to Bitstamp.

    Although has to deal with a judging security check guy on the phone last time around.
  8. Avatar
    Im on Monzo and have had no issues. COuld be lucky?

    Yeah, I can't bank Transfer to Binance, but I can buy on the Card.

    Ive also got a Crypto.com Account which I regularly top up for the cash back.

    Though when I want to buyt Coin, the best way to reduce the fees I found is:

    Bank Tranfer from Monzo To Kraken. Then Buy XLM withn GBP (do a Trade is better).

    Then send the XLM to Binance which you can then Convert to BUSD and then buy the coins you want.

    Though Kraken do have a good bunch of Coins too, just depends what you wanna buy really
  9. Avatar
    Author
    Thx - yeah I was looking at Revolut but have seen quite a few issues with Frozen accounts after using exchanges and awful customer service.
  10. Avatar
    I have tsb not had any issues
  11. Avatar
    I use eToro. Dead easy, no faff, just withdraw and deposit from my normal bank account. Minimum deposit is $50 (they convert it) and it's $5 to withdraw. No trading fees.

    Tried it out of curiosity, put $25 each into two coins. Within two days I'd made $100 profit so quit while I was ahead and sold, then reinvested just the profit.

    I've turned that $50 into around $13k in two months. The spread isn't as generous as others, given there's no trading fees. But it suits those who are just dipping their toes into the water, it's easy to use. No issues with my Santander account.
  12. Avatar
    Anyone on Starling or Barclays able to send money for crypto and withdraw without issue?
  13. Avatar
    Binance is fine for me I’m with Lloyds , I’ve done 3 deposits 5 withdrawals in the last month with no issues
  14. Avatar
    NeilB29/11/2021 07:24

    Thx - yeah I was looking at Revolut but have seen quite a few issues with …Thx - yeah I was looking at Revolut but have seen quite a few issues with Frozen accounts after using exchanges and awful customer service.


    Been absolutely fine with the SEPA transfers in Euros to avoid fees. Just test a £10 conversion and transfer. Make sure you include your reference when you send it.
    Edited by: "morgie" 29th Nov
  15. Avatar
    Coinbase is FCA approved so I believe Barclays let you deposit to it. Just make sure you use Coinbase Pro, not regular coinbase, you'll save a fortune in fees.

    Also, with ETH, before you move it to your own wallet, be aware of how incredible expensive the fees are at the moment. Over $10 per send and $100 so swap on uniswap. If you move to a sidechain/L2 like Polygon, BSC or XDai,gas fees are negligable.
  16. Avatar
    Jocques29/11/2021 07:36

    I use eToro. Dead easy, no faff, just withdraw and deposit from my normal …I use eToro. Dead easy, no faff, just withdraw and deposit from my normal bank account. Minimum deposit is $50 (they convert it) and it's $5 to withdraw. No trading fees.Tried it out of curiosity, put $25 each into two coins. Within two days I'd made $100 profit so quit while I was ahead and sold, then reinvested just the profit.I've turned that $50 into around $13k in two months. The spread isn't as generous as others, given there's no trading fees. But it suits those who are just dipping their toes into the water, it's easy to use. No issues with my Santander account.


    Proof or that’s a lie
    Edited by: "tom2kadd1" 29th Nov
  17. Avatar
    tom2kadd129/11/2021 09:19

    Proof or that’s a lie


    Yeah, alright, I'll just screenshot my bank statement for a random person online.

    $13k (actually $12,789.34 to be exact) isn't that much compared to some, I could have got six figures if I wasn't cautious. I've been lucky with bulls and bears, others haven't. 🤷
  18. Avatar
    TYRONE201229/11/2021 08:36

    Binance is fine for me I’m with Lloyds , I’ve done 3 deposits 5 wit …Binance is fine for me I’m with Lloyds , I’ve done 3 deposits 5 withdrawals in the last month with no issues


    This is very surprising given that Binance was banned from operating in the UK a few months ago and most banks disabled money transfers to it. I don't see anything online saying this has changed.
  19. Avatar
    Deposit gbp with coinbase pro buy ltc then send across to binance
  20. Avatar
    Open a coinbase account via Topcashback (£50 at time of writing).

    Buy a small amount to get the cashback (Instant profit).

    Then use Coinbase Pro (Same login/company, but small fees compared to coinbase).


    It's that simple really, with coinbase pro, just transfer funds via bank transfer for the lowest fees.

    If you want to then use a more risky platform like MEXC (I use for start ups) then just transfer crypto to yourself between exchanges.

    Then give up your job and enjoy the ride*







    *Don't do this....
  21. Avatar
    Jocques29/11/2021 09:27

    Yeah, alright, I'll just screenshot my bank statement for a random person …Yeah, alright, I'll just screenshot my bank statement for a random person online.$13k (actually $12,789.34 to be exact) isn't that much compared to some, I could have got six figures if I wasn't cautious. I've been lucky with bulls and bears, others haven't. 🤷


    It's easily done.
    People are pumping money into crypto at the moment, inflation, stock collapse and the fear of missing out is encouraging more and more into crypto. It's continually gaining market share and could only be the safe place for your wealth as countries and economies are going to struggle (potentially).
    I don't understand why people think holding currency is safer, the country involved controls the value of it. The UK is devaluing sterling every day by diluting it and printing more and more. 2 trillion in debt will have to be managed going forward, especially if inflation hits and interest payments of it rise.
    Could be a rocky road.
    At least governments can't dilute your stakes in crypto?

    When people say, that's great, but when do you take your cash out, what is the top value of Bitcoin?
    That's not the point of Bitcoin, it has a cap and can't be diluted, the question is not when do I get my cash out of it, the point is when do I spend it and use it.. When will it become the currency of choice going forward for goods and services.
    I already use it for certain purchases online, and will use it more and more going forward.
    In 50 years companies, countries and banks will look back, and if they didn't adapt, they will become names you used to have heard about...
    Edited by: "Chiptivo" 29th Nov
  22. Avatar
    bozo00729/11/2021 09:40

    This is very surprising given that Binance was banned from operating in …This is very surprising given that Binance was banned from operating in the UK a few months ago and most banks disabled money transfers to it. I don't see anything online saying this has changed.

    46249199-TDCqh.jpg
    binance as a company couldn’t accept GBP deposits, you could still buy any coin with GBP no problem as a straight transaction just couldn’t deposit money into your Binance account, but deposits have been working for about 3+ months now
  23. Avatar
    TYRONE201229/11/2021 11:18

    [Image] binance as a company couldn’t accept GBP deposits, you could still …[Image] binance as a company couldn’t accept GBP deposits, you could still buy any coin with GBP no problem as a straight transaction just couldn’t deposit money into your Binance account, but deposits have been working for about 3+ months now


    It looks like a card transaction, so additional fees?
  24. Avatar
    Yeah 1% fee on withdrawals , 1.8% on deposits now I think that’s gone up recently but luckily I don’t have to deposit anymore as have a stable sum now, I just skim 25% off a month and withdraw
  25. Avatar
    MrMaccieKFC29/11/2021 08:20

    Anyone on Starling or Barclays able to send money for crypto and withdraw …Anyone on Starling or Barclays able to send money for crypto and withdraw without issue?


    Im with Starling. You have to use the debit card to transfer money into Binance. MasterCard are still crypto friendly even if the back isn't. I'm not sure on deposit back into the bank as I only accumulating atm. But my friend had to transfer from Binance to Coinbase and then transfer back that way into his account. But he was with another bank account. Monza is crypto friendly too.
  26. Avatar
    Chiptivo29/11/2021 10:56

    It's easily done. People are pumping money into crypto at the moment, …It's easily done. People are pumping money into crypto at the moment, inflation, stock collapse and the fear of missing out is encouraging more and more into crypto. It's continually gaining market share and could only be the safe place for your wealth as countries and economies are going to struggle (potentially). I don't understand why people think holding currency is safer, the country involved controls the value of it. The UK is devaluing sterling every day by diluting it and printing more and more. 2 trillion in debt will have to be managed going forward, especially if inflation hits and interest payments of it rise. Could be a rocky road. At least governments can't dilute your stakes in crypto?When people say, that's great, but when do you take your cash out, what is the top value of Bitcoin?That's not the point of Bitcoin, it has a cap and can't be diluted, the question is not when do I get my cash out of it, the point is when do I spend it and use it.. When will it become the currency of choice going forward for goods and services. I already use it for certain purchases online, and will use it more and more going forward. In 50 years companies, countries and banks will look back, and if they didn't adapt, they will become names you used to have heard about...


    Exactly right.

    The sooner you start looking at 1 Bitcoin = 1 Bitcoin, instead of $50k, the better.

    bozo00729/11/2021 09:40

    This is very surprising given that Binance was banned from operating in …This is very surprising given that Binance was banned from operating in the UK a few months ago and most banks disabled money transfers to it. I don't see anything online saying this has changed.


    Binance wasn’t banned from operating in the UK. Certain products/services they provide have been banned to UK customers.

    Buying and selling cryptocurrency is still perfectly legal no matter which exchange you use.
    Edited by: "ExZero" 18 s ago
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