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Moonraker

Cashing out from Gatehub to UK bank

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Currently, I deposit pound sterling (GBP) funds from my UK bank account to Revolut and convert it to Euros (EUR) before sending it to Gatehub via a SEPA transfer. Otherwise, if I transfer GPB directly from my bank account to Gatehub (without going through Revolut) I'm charged a high fee.

Once I sell my XRP on Gatehub for EUR fiat, what's the best way to get it into my UK bank account in GBP without having to pay ridiculous fees?

Thanks

 

 

Edited by Moonraker

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5 minutes ago, stevo7790 said:

Uphold is the way I'm going to go with this when the time comes. :)

Doesnt Uphold have a 10k a day maximum withdrawal?

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I plan on transferring my XRP from Gatehub to LBX and cashing out. It's part of the faster payment and I get same day deposits and withdrawals. I seriously cannot be bothered to hop around different places. 

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I personally use LBX where I can buy and sell XRP and a few other cryptos directly from GBP. As well as that transfers only take a couple hours. Fees are about 3% however saves all the hassle. Down side is that your limit is £1000 per day but can be increased. 

Edited by k33bym

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3 hours ago, Moonraker said:

Currently, I deposit pound sterling (GBP) funds from my UK bank account to Revolut and convert it to Euros (EUR) before sending it to Gatehub via a SEPA transfer. Otherwise, if I transfer GPB directly from my bank account to Gatehub (without going through Revolut) I'm charged a high fee.

Once I sell my XRP on Gatehub for EUR fiat, what's the best way to get it into my UK bank account in GBP without having to pay ridiculous fees?

Thanks

 

 

I use Kraken, to withdraw Euros to my UK GBP Bank, I lose some money on the exchange rate from Euros to GBP but it's in my bank account next working day, I can also withdraw up to 200K Euros a month from Kraken (not that I have that much XRP....lol) .  I believe also that Coinbase now supports GBP, but haven't used them for anything recently.

Edited by Jannercobbler

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3 hours ago, LamboToTheMoon said:

Doesnt Uphold have a 10k a day maximum withdrawal?

Yes but I think you can store GBP on a virtual card... I haven't tried it yet though 

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41 minutes ago, stevo7790 said:

Yes but I think you can store GBP on a virtual card... I haven't tried it yet though 

Yup, you can move amount between crypto, usd, Eur, gbp and gold and silver, I’ll probably use uphold to withdraw at some point.

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The way I see it is if my xrp holdings hit £1 million, I'd withdraw to uphold and stick it on the GBP card. Once it's in GBP a million is a million, then I've done it and achieved something pretty amazing. If I have to pay myself 10k a day ok I will lol 

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2 minutes ago, stevo7790 said:

The way I see it is if my xrp holdings hit £1 million, I'd withdraw to uphold and stick it on the GBP card. Once it's in GBP a million is a million, then I've done it and achieved something pretty amazing. If I have to pay myself 10k a day ok I will lol 

Just be careful to let your bank know, multiple 10k transactions could look like money laundering.

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I'm based in the UK and use Kraken think it's the cheapest way. Coinbase recently are supporting GBP not sure what there fees are selling xrp to GBP once they list it.

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I'm just a little wary of this USDT thing that's banging around that's why I'm trying to use the toast wallet than keeping xrp in exchanges. Then withdrawing to my account via uphold when the time comes 2 day if ever :)

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