weex123 Posted February 11, 2019 Share Posted February 11, 2019 Okay, so a newbie question... I have some XRP and would like to sell it for GBP if possible in the near future, or EUR. I live in the UK currently. I would like to sell some in near future, but have no idea how and where to sell it for cash! Any help appreciated. btw got Binance and Bitstamp accounts Link to comment Share on other sites More sharing options...
Flintstone Posted February 11, 2019 Share Posted February 11, 2019 Bitstamp has an XRP/EUR pairing. Sell there, then transfer to your bank account. Link to comment Share on other sites More sharing options...
weex123 Posted February 11, 2019 Author Share Posted February 11, 2019 Anyone knows the stance of banks in UK on accepting money from exchanges? I heard they freeze your bank account and suspend it.. Link to comment Share on other sites More sharing options...
kiwixrp Posted February 12, 2019 Share Posted February 12, 2019 7 hours ago, weex123 said: Okay, so a newbie question... I have some XRP and would like to sell it for GBP if possible in the near future, or EUR. I live in the UK currently. I would like to sell some in near future, but have no idea how and where to sell it for cash! Any help appreciated. btw got Binance and Bitstamp accounts Cant you just get a wirex card and send it there and then spend it ? Coinflield do XRP/gbp Link to comment Share on other sites More sharing options...
Flintstone Posted February 12, 2019 Share Posted February 12, 2019 7 hours ago, weex123 said: Anyone knows the stance of banks in UK on accepting money from exchanges? I heard they freeze your bank account and suspend it.. I've heard Bitstamp make you jump through hoops (I.D). on withdrwals. Not sure if only over a certain amount. Transfers of 10K and over into your bank account and HMRC are notified (not sure on this, never had 10k ) Profit over £11,700 and you need to file a tax return. Link to comment Share on other sites More sharing options...
PunishmentOfLuxury Posted February 12, 2019 Share Posted February 12, 2019 Open an account with TransferWise. Sell XRP on exchange (Kraken is definitely okay with TW for sales, not purchases, not sure about Bitstamp) for EUR or USD. Transfer fiat to TW and convert to GBP at near market rates. Send to GBP bank account. Link to comment Share on other sites More sharing options...
weex123 Posted February 12, 2019 Author Share Posted February 12, 2019 I have heard stories about bitstamp being shady... Guess its time to open TransferWise account. Hopefully the banks are not too uptight about it when I withdraw Link to comment Share on other sites More sharing options...
PunishmentOfLuxury Posted February 13, 2019 Share Posted February 13, 2019 6 hours ago, weex123 said: I have heard stories about bitstamp being shady... Guess its time to open TransferWise account. Hopefully the banks are not too uptight about it when I withdraw Source? Bitstamp is one of the oldest and most reliable exchanges in crypto. zenkert, Flintstone, Pablo and 1 other 4 Link to comment Share on other sites More sharing options...
Flintstone Posted February 13, 2019 Share Posted February 13, 2019 (edited) Have a read through their news page. It’s my most trusted exchange. https://www.bitstamp.net/news/ Edit: They are supposedly quite strict regarding AML/KYC. You’ll find plenty of disgruntled opinions regarding this, but that is what is needed for this market to move forward and if you have nothing to hide, then all should be fine 😉 Edited February 13, 2019 by Flintstone Pablo and zenkert 2 Link to comment Share on other sites More sharing options...
weex123 Posted February 13, 2019 Author Share Posted February 13, 2019 22 hours ago, PunishmentOfLuxury said: Source? Bitstamp is one of the oldest and most reliable exchanges in crypto. The people of Reddit... Jokes aside theres many people on Reddit that got their funds frozen because of KYC apparently and lost some money... I mean if youre not laundering then you are probably fine? Flintstone 1 Link to comment Share on other sites More sharing options...
gamblin310 Posted February 14, 2019 Share Posted February 14, 2019 Answer: Don't sell XRP. zenkert 1 Link to comment Share on other sites More sharing options...
zenkert Posted February 14, 2019 Share Posted February 14, 2019 On 2/13/2019 at 4:38 AM, Flintstone said: Have a read through their news page. It’s my most trusted exchange. https://www.bitstamp.net/news/ Edit: They are supposedly quite strict regarding AML/KYC. You’ll find plenty of disgruntled opinions regarding this, but that is what is needed for this market to move forward and if you have nothing to hide, then all should be fine 😉 Bitstamp is and has been, from the beginning, my gateway to DA land with FIAT. The AML/KYC was a bit tedious (at least in 2017) when I registered there. Flintstone 1 Link to comment Share on other sites More sharing options...
Flintstone Posted February 14, 2019 Share Posted February 14, 2019 9 minutes ago, zenkert said: Bitstamp is and has been, from the beginning, my gateway to DA land with FIAT. The AML/KYC was a bit tedious (at least in 2017) when I registered there. You have good taste my friend! zenkert 1 Link to comment Share on other sites More sharing options...
ZX81_1k Posted February 16, 2019 Share Posted February 16, 2019 (edited) I use Uphold. Transfer XRP to that exchange, sell XRP for Euros then transfer out using a standard SEPA bank transfer (1 working day and costs a few pence). I transfer out to my Revolut bank account which allows me to create a Euro wallet in the app so I just setup Uphold to transfer out to that Euro wallet. From there it's easily swapped to GBP in the app so I can spend it. Alternatively, sell the XRP at any exchange for Bitcoin. Send the bitcoin to Coinbase. Sell the bitcoin on Coinbase for GBP and transfer out using a standard SEPA bank transfer to your GBP bank account. I've tested this process with Nationwide bank without any problem. You'll lose a small amount with each currency exchange but that's life. Edited February 16, 2019 by ZX81_1k Link to comment Share on other sites More sharing options...
sharpn Posted February 20, 2019 Share Posted February 20, 2019 I'm based in the UK and use Kraken. Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now