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k33bym

Most Efficient Way To Purchase XRP with GBP

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Hi Guys,

Sorry this isn't in the correct category but I only have access to a very limited amount currently. 

I am from the UK/England (whatever the world likes to call it) and I am currently using Coinbase ( Without SEPA because I'm not patient enough to wait) to purchase ETH to then exchange for XRP from Binance.

I know this is not efficient at all, and this is why i need your advise. is there a more effective way except SEPA transfers? As i have mentioned previously I'm not very patient so if it is a way i can do same day that would be great!

Thank you in advance! :)

Edited by k33bym

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Well I'd advise Revolut, but not to necessarily buy XRP direct on there (though you can for a 1.5% fee, but you only get 'exposure') – but you'll have a 'backup' option of using GBP directly to buy in (get exposure) at least – if all else fails. Anyway, on Revolut you can exchange for Euros at a fair market rate first, and then wire those Euros to e.g. Bitstamp or another EU based exchange. So for larger amounts, that's how I'd do it personally. I trust Bitstamp but some people have had KYC/AML problems so make sure you have your docs ready. Search the forums for info. You must realize that while SEPA can take ~2 days, it can be quicker, and the fees should be very low. I never pay more than €1.50, and to be honest I don't really get why a wait of a few days is so bad – what's the rush?!

Stay the hell away from Gatehub unless for very small amounts; it's a perpetual UX disaster.

If you insist on GBP only options, look into Wirex, Uphold and LBX. Get their fee structure first so you know how much you'll be charged per transaction/wire. Bitstamp's fees are here:

https://www.bitstamp.net/fee_schedule/

Edited by zerpdigger

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4 minutes ago, zerpdigger said:

Well I'd advise Revolut, but not to necessarily buy XRP direct on there (though you can for a 1.5% fee, but you only get 'exposure') – but you'll have a 'backup' option of using GBP directly to buy in (get exposure) at least – if all else fails. Anyway, on Revolut you can exchange for Euros at a fair market rate first, and then wire those Euros to e.g. Bitstamp or another EU based exchange. So for larger amounts, that's how I'd do it personally. I trust Bitstamp but some people have had KYC/AML problems so make sure you have your docs ready. Search the forums for info. You must realize that while SEPA can take ~2 days, it can be quicker, and the fees should be very low. I never pay more than €1.50, and to be honest I don't really get why a wait of a few days is so bad – what's the rush?!

Stay the hell away from Gatehub unless for very small amounts; it's a perpetual UX disaster.

Look into Wirex, Uphold and LBX. Get their fee structure first so you know how much you'll be charged per transaction/wire. Bitstamp's fees are here:

https://www.bitstamp.net/fee_schedule/

Correct me if I'm wrong but when I have previously done research on Revolut  they did not have the function of actually sending your cryptos you have purchased through them. So to me it sounded more like eToro.

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3 hours ago, k33bym said:

Correct me if I'm wrong but when I have previously done research on Revolut  they did not have the function of actually sending your cryptos you have purchased through them. So to me it sounded more like eToro.

Yes that's basically right, well, I don't know about eToro and don't trust them personally after hearing some complaints but... eseentially you get 'exposure to' XRP i.e. they hold it on your behalf. However, rumour is they're going to be adding deposits/withdrawals, they said they are 'working on it'. Personally, I find Revolut convenient for small amounts, since you can also spend it and convert to/from GBP/EUR etc on the fly, wherever you have your phone. Also it's ok for newbies who dn't want the hassle of complex wallets and exchanges but want the exposure in case of a bull run. But you may be more sophisticated and so able to deal with that. End of the day, it's a tradeoff.

Like I said, I personally like Bitstamp and use Revolut to send Euros back and forth, but some have had issues with Bitstamp's strict KYC/AML process. And it's not a professional tradng platform by any means, if that's what you want. It's a bit simpler but does have conditions, stops, indicators, etc.

As I said, do some research into Uphold, Wirex and LBX, too. There are threads about them on this forum; they each have pros and cons. Whatever you choose, best of luck!

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On 8/25/2018 at 2:22 AM, Dinoizzy said:

I use LBX. Free bank transfers always in within a few hours and can buy xrp direct no bothering with btc or eth first.

I have been trying to register on LBX since you have mentioned it but unable to due to an error everytime.

Also is there a referral link you can provide? May as well make the most of that £10 referral scheme ;)

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