Jump to content
Sign in to follow this  
TOON_XRP_ARMY

Trading XRP from the UK

Recommended Posts

If you live in the UK how are you buying and selling your crypto ?.

As a crypto virgin I found buying from within the UK a bit of a conundrum. Eventually I came across cryptomate.co.uk where I have bought the majority of my crypto without any problems using my bank a/c. However this is buy only and as of yet if I wish to sell I haven't got an exit strategy.  Obviously I would like to sell back into GBP but with our current brexit situation some exchanges have suspended this option. Any thoughts would be grateful.

Share this post


Link to post
Share on other sites

Yes it's very frustrating. I can't believe a large UK based exchange hasn't been created yet. There must be something preventing this happening surely?

At the moment 60% of my holdings on etoro with 40% in a hardware wallet for long term. I used coinbase and exchanged eth I think on binance. I'm hoping etoro hurry up and roll out their wallet for all currencies. I believe at the moment its on available in US and for bitcoin only.

Share this post


Link to post
Share on other sites

In the early days when I first wanted in quick I bought ETH (even BTC first off till I learnt) on bittilicious to send to binance & convert to XRP. Bitti definitely isn't the cheapest but pretty easy & pain free.

Nowadays I have wirex which tends to come out marginally cheaper than the above but very similar & is so easy & instant & easy to transfer wherever you want. Only limitation is you can only do £1k per day if you were looking for some larger purchases. Nice to have the card too if just to get a bit of free BTC for using the GBP debit cards in store.

For selling when the time comes I am going to do a few trials to see which works out cheapest & easiest/quickest. My shortlist is as follows:

Kraken, limits=$25k per day, $200k per month. From what I read fees cheaper than bitstamp but takes longer.

Bitstamp, no limits although some comments they may ask some OTT questions if over a certain amount

LBX (London block exchange), 2.45% withdraw fee (0.95% for premium members which costs £10 pcm so maybe worth doing for bigger amounts), 0.5% trade fee

Wirex, more of a bench mark as I'm familiar with it & should be easy & give me something to compare how the above fees work out in comparison, is limited to holding £15k I think it is on the card & not sure if that can be sent to bank or just payments made off it (which if it's cheap I'm fine with paying mortgage off & lambos etc etc. lol)

 

I bought a few hundred zerps to play with & test the above out when the markets a little better, no rush & likely to be many more options at such a time...…. 

Share this post


Link to post
Share on other sites
56 minutes ago, scoobysi said:

Kraken, limits=$25k per day, $200k per month. From what I read fees cheaper than bitstamp but takes longer.

I use Kraken to withdraw, and never had an issue, it's normally in my UK Bank next day, only down side is you take a 'hit' on EUR - GBP exchange rate.

You could also use Kraken to deposit via your bank on the faster payment network (my deposits usually show up next day) But you have to transfer it in EUR (depends on the exchange rate, and if your bank charges you for international payments).

Share this post


Link to post
Share on other sites
On 1/1/2019 at 8:58 PM, Asen4XRP said:

I believe Coinfield has GBP pairing to XRP.

Thank you for the replies.

I have just finished the verification process with CoinField. They approved my application so I'm ready for the MOON !!!

Congratulations! We are pleased to inform you that your CoinField account has been approved by our AML/KYC compliance team! Your verification level has been set to 6, which means your new deposit and withdrawal limits are $2M USD per day, or the equivalent amount in one of our other available currencies.

https://www.coinfield.com/ref/0/IDBBBA24269E

Edited by TOON_XRP_ARMY

Share this post


Link to post
Share on other sites
18 hours ago, Centaurus said:

Cool. I'm too registered with CoinField although not used them yet. Nice withdrawal limit (Lv.6).😉

Yes excellent withdrawal limit which I hope one day to take advantage of :beach: I haven't used them yet myself but I bought Xrp yesterday through my regular channel, which is Cryptomate.co.uk and compared costs with CoinField there was very little difference which was pleasing to know.

Cryptomate  XRP 330.1158 £100.00   CoinField XRP/GBP 329 £100

Share this post


Link to post
Share on other sites
19 hours ago, scoobysi said:

will add that to the trial list, don't think it was mentioned or available for GBP when I first drew it up. At first glance 1% withdraw fee by wire transfer...

Hi scoobysi,  how does CoinField compare with other GBP withdrawal exchanges.

Cheers

Share this post


Link to post
Share on other sites

I always take the fees with a pinch of salt as I care about end results so may have a worse rate on XRP or as GBP to bank hence why I'm going to do a trial later. Yet to do anything so can't really add anything constructive yet. I will post something when I do it...…..

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...