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weex123

HOW WOULD I SELL XRP FOR CASH?

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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

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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

 

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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.

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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

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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.

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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 by Flintstone

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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?

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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.

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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 by ZX81_1k

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